If you are a Forex Trader or you have just started researching about it, you might want to try XM, a leading Forex and CFD Trading Platform. But the first thing that you needed to confirm is whether the company opens Forex Trading accounts to local clients. The answer is yes, XM opens Trading accounts for clients living in South Africa. Now, a cool thing about XM is that they offer a USD30 bonus for new accounts, and there's no need to deposit funds, so, go ahead and try the Broker without spending a single Rand.
XM is a Forex and CFD broker with one of the largest market penetration rates because it provides a large number of currency pairs (+55) and CFDs on financial instruments like stocks from 17 major Stock Exchanges, indexes, metals and energy. These instruments are available through MetaTrader 4 and 5, two of the most popular Trading Platforms worldwide. XM has more than 2.5 million accounts from clients all over the world and is aimed at beginners and professional investors.
XM offers 3 types of accounts: (1) Micro Account, (2) Standard Account and (3) XM Ultra Low Account. The differences between them lie in: (a) size of the lot, (b) spreads, (c) minimum trading volume and (d) minimum deposit, which changes for XM Ultra Low accounts (where the minimum deposit is USD50 instead of the regular minimum deposit of USD5). Accounts can be opened in US Dollars (USD), Euros (EUR), British Pounds (GBP), Swiss Francs (CHF) or Australian Dollars (AUD) as the base currency. It is one of the best Forex brokers available in South Africa.