Introduction
MT 4® and 5® are the industry standards in terms of trading software. Each broker makes sure to include it in their portfolio to provide the best service to traders. The copy trading software, i.e., Forex Copier, works with all the brokerages who support trading via MetaTrader®. Various benefits are at one’s disposal through the use of the trade copier, including:
- The ability to diversify your risks by spreading your equity to several accounts
- Automatic stop loss adjustments
- Price adjustments
- Lot/risk management
- Emergency stop
- Order filtering
The mirror trading software is not affiliated with any broker. It works as a separate program on your computer that enables one to copy trade mt4® and mt5® positions. With our article, you’ll be able to get insight into different brokers and their respective qualities. Trading alongside the right firm will impact your consistency by a significant margin, so make sure to compare each one with another.
XM
| Title | Title |
|---|---|
| Year founded | 2009 |
| Location | Cyprus |
| Regulation | ASIC (Australia), CySEC(Cyprus), and IFSC(Belize) |
| US Available | No |
| Trading instruments | Currencies, Stock index CFD’s, Stock CFD’s, Commodity CFD’s, and Cryptos |
| Trading platforms | MetaTrader4®®, MetaTrader5®, and WebTrader |
| Minimum deposit | $5 |
| Deposit methods | Wire Transfer, Credit Cards, and E-wallets |
| Base currencies | 9 |
| Inactivity fee | Yes |
| Withdrawal fee amount | $15 for less than $200 |
| Max. Leverage | Up to 1:888 |
| Min. Spread | 0.1 pips |
| Currency pairs | 55+ |
| Demo account | Yes |
| Social / Copy trading | Yes |
| Automated trading | Yes |
Founded in 2009, XM comes under the regulation of the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission of Belize (IFSC). Partnering with notable personalities, such as Usain Bolt, in the past, the company rose to fame in a short period. The brokerage is committed to providing the best to its customers with low fees and spreads that start from 0.1 pips. Micro, standard, ultra-low, and shares accounts are available at XM, funded using credit cards, wire transfer, e-payment methods, bank transfers, etc. With a minimum deposit of as low as 5 dollars, the broker is the top choice amongst many beginners to begin live trading.
Over a thousand instruments are available to trade at XM, including Forex, Stock Index CFD’s, Stock CFD’s, Commodity CFD’s, and Cryptos, which can be traded using the industry-standard Metatrader 4®® and 5® platforms. Copy-trading services are also available at xm copy trade and top trade copiers such as Forex Copier works on the broker's MT4/5®. An in-depth research section keeps one updated on all the critical market news, economic calendar, and technical and trading ideas. The brokerage also offers live education, videos, webinars, and platform tutorials to help beginners and amateurs in their trading. Customer support is online 24/5 and can be reached out to via live chat, phone, and email.
Pros
- Superb trading education
- Allows a really low minimum deposit
- Negative balance protection
- Deposits available in multiple currencies
Cons
- $5 monthly inactivity fee after three months
- Free withdrawals only available for those over $200
- No US clients
End of the Line
Forex Copier software can be used to diversify your brokers. It is a software to copy all of your executions from one MetaTrader® platform to another and has two different versions:
- Forex Copier 3 copies all your trades on the same PC/VPS
- Forex Copier Remote 2 that copies all your executions remote from one PC/VPS to another
A group of traders and top programmers developed Forex Copier. The software addresses all the copy trading needs of traders as it was made by people who actively traded the markets. It overcomes all the hurdles of manual reprinting positions and offers even further benefits such as managing risk, SL/TP adjustments, order filtering, etc., as mentioned before. Each execution can be successfully copied from one MetaTrader® software to another with minimum latency, automatically.
