XM, a forex brokerage group regulated in Cyprus and Australia, said on Monday it has introduced a Zero trading account for trading in 56 forex pairs, gold and silver. The new account type is called Zero since, in addition to a leverage rate of up to 500:1, it has spreads as low as zero pips.
XM Zero accounts can be opened in US dollar (USD), Euro (EUR), or Japanese yen (JPY). They can be used with the MetaTradder 4 (MT4), the most popular trading platform available.
Traders using the new accounts will be able to benefit from hedging and expert advisors (EAs) for automated trading.
The broker said it borrowed the idea to launch this type of service from traders’ responces to a customer satisfaction survey.
In addition, XM’s clients can choose between Micro and Standard trading accounts. More details about the conditions the broker offers follow: XM the trading brand of Cyprus-based Trading Point Holdings. The XM group consists of companies licensed by the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC). They are also registered with the relevant authorities in a several of European countries, including the UK, Germany, Spain, Italy, Finland, and France.
The broker offers trading in forex, commodities, equity indices, metals and energies. It uses the MT4 platform in all of its versions – web-based, desktop and mobile. The broker serves customers in nearly 200 countries.