subject: The Trading Conditions of FxDialogue [print this page] The Trading Conditions of FxDialogue
FxDialogue is one of the fastest growing foreign exchange brokerage firms today, and for good reason. Their trading conditions stand a head above what most online brokers offer, and they have a few tricks up their sleeves that even the most experienced investors can enjoy. The Forex market itself is known for being difficult. The aspect of leverage makes losses all too easy for most to be comfortable with, and the market as a whole is complicated. Dealing with a broker should not be complicated itself, and this broker makes it easy to stay focused on what's important in trading.
Some of the brokers found online offer what some consider to be predatory accounts. These are often found in the form of mini accounts, which require a very small deposit, either a very low or very high leverage ceiling, and poor tight pip spreads. These types of accounts are made to encourage investors to lose their initial deposit and make a new one as soon as possible. FxDialogue does not have any predatory account options. They offer three types of accounts: demo, LIVE, and Advanced. A demo account is free and is valid for 10 days, after which the account holder can choose to move onto another type. LIVE accounts are the cheaper of the two main types, and require a minimum $250 deposit. This is a low figure similar to mini accounts from other brokers, but the leverage ceiling sits at 1:200, which is the same as that of advanced accounts. The tight pip spreads can also be as low as two pips. Advanced accounts have a minimum deposit requirement of $5,000, and boast a minimum tight pip spread of zero pips.
Both types of accounts have their pros and cons, and are very clearly geared towards either new or experienced Forex investors. What is refreshing is the lack of predatory additions in the LIVE account, which makes FxDialogue a better choice than more than half of the brokerage firms out there.
A bonus that comes with both account types is the trading platform MetaTrader 4, which is the most popular platform today. While popular, this platform is difficult to customize and get working at full functionality. This makes it difficult for your average computer to get used to the program. Advanced accounts come with a pre-customized version of the software tailored towards more advanced traders, but LIVE account holders do get a tool to make using MetaTrader 4 more simple: MexcelTrader. MexcelTrader is an add on for MetaTrader that is meant to take the difficulty out of dealing with the program. It displays the information from MetaTrader on a detailed spreadsheet in Excel. This spreadsheet is updated in real time with market details, negating the need to pay close attention to charts. All types of market orders can also be executed through this add on, making it feel like a standalone program in use. These user-friendly tools that are provided along with the investor-friendly account types make FxDialogue an excellent trading environment for investors new and old alike.
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