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Trading Point Consolidates All Its Brands Under XEMarkets

Nov 01 2012
By
Forexbrokerz.com

When in July this year the Cypriot broker Trading Point announced that it will be rebranding into XEMarkets, I was surprised (that might even be an understatement). I couldn’t understand why would an established, well-known and successful broker rebrand and start from scratch?! I suspected that Trading Point was trying to escape its reputation of a broker that got in trouble with the CFTC in regard to US traders but that didn’t really seem a completely plausible theory. 

 
Then for a while there were no news about transition from the one brand to the other, and I just accepted the fact that the rebranding didn’t make any sense. Until yesterday, when I found out that another brand of Trading Point of Financial Instruments Ltd. – MegaTraderFX – is also shutting down operations and transferring its customers to XEMarkets. There it was – my a-ha moment. Trading Point was simply consolidating!  
 
When you look at things from business prospective, it really doesn’t make any sense to support 2 or 3 separate skins of the same trading platform: this requires separate customer support teams, different promotions for all the brands, etc. Place yourself in the shoes of the end customers – and again, you’ll see that the benefits of multiple skins of the same company are close to non-existent. In that light, what Trading Point is doing seems to be the most logical business development. 
 
Today, MegaTraderFX clients will all be migrated to XEMarkets and this will affect them in two ways. First, while the maximum leverage allowed at MegaTraderFX was 1:500, the one at XEMarkets is 1:888. My personal opinion is that brokers should not be offering leverage that high as it encourages traders to take unnecessary risks, so I don't consider that to be a benefit but nonetheless, this is what the broker offers.  
 
Secondly, former MegaTraderFX clients will be eligible for a 10% bonus on their next deposit at XEMarkets (I got this information from their customer support so you may want to double-check before making a deposit). The bonus is not withdrawable, however there are no restrictions on withdrawing any profit made with the bonus money. 
 
In order to access their new accounts, MegaTraderFX traders will simpy need to download XEMarkets’ MT4 platform and log in with their old account number and password. 
 

About XEMarkets

XEMarkets is a registered trade name of Trading Point of Financial Instruments Ltd, a European Union-regulated broker and a registered Cyprus Investment Firm (CIF) that operates its services in compliance with the Cyprus Securities and Exchange Commission (CySEC), registered under the license number 120/10; authorized by the Financial Services Authority (FSA) UK (licensed under 538324), and with full EU-authorization, including BaFin from Germany, CNMV from Spain, AFM from the Netherlands, FI from Sweden, and FIN from Finland. XEMarkets.com provides online trading on forex, CFDs and futures in accordance with the investor protection measures described by the Markets of Financial Instruments Directive (MiFID).
TAGS: XEMarkets  Trading Point  MegaTraderFX  brand consolidation  forex trading  forex broker  MT4 

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