It is always a good idea to be in line with clients’ needs and goals and this is what forex broker XM is trying to do. After the broker reviewed client feedback from a recent customer satisfaction survey, it decided to introduce an account type with variable spreads as low as 0.
The XM brokerage group
, regulated in Cyprus and Australia, announced on Monday it has launched a Zero account, where the spreads offered start at 0, as the account name suggests.
Clients may opt to such an account with just $200 and benefit from leverage levels up to 500:1 in USD, JPY or EUR base currencies.
The Zero account can be used through the popular MetaTrader4, where hedging and expert advisors (EAs) are allowed. The other two trading accounts, Micro & Standard, offer spreads starting from 1 pip on majors.
XM is a trading name of Trading Point Holdings Ltd., a company regulated by the Cyprus Securities and Exchange Commission (CySEC) and its Australian subsidiary, which holds a license from the Australian Securities and Investments Commission (ASIC). Furthermore, the XM group is registered with the relevant authorities in a several of European countries, including the UK, Germany, Spain, Italy, Finland, and France.
The broker provides its services to customers in nearly 200 countries, offering trading in more than 50 currency pairs, along with Silver and Gold.