The Convenience of Using FxDialogue For Forex Trading

The Convenience of Using FxDialogue For Forex Trading

Forex brokers can be found all over the internet, but some simply don't live up to the hype. Many offer "mini accounts", which require a small deposit. These mini accounts often have terrible spreads and are limited in their leverage options. While these types of accounts are tempting to potential investors looking to jump into the foreign exchange market, they are a trap that many people have fallen into before. Small deposits with small leverage do not give an investor enough room to work, while small deposits paired with leverage that is too high can quickly lead an investor to ruin. FxDialogue is one of the newer Forex brokerage firms, but their lack of predatory "mini accounts" is a good sign.

FxDialogue offers two primary account types: LIVE and Advanced. LIVE accounts require an initial minimum deposit of $250, while advanced accounts require a deposit of at least $5,000. The differences between these account types lie not only in the deposit, but also in spreads. LIVE accounts offer spreads no lower than 2 pips, while advanced accounts can have spreads as low as no pips at all. This seemingly small detail can make all the difference, and is something that all new investors should look at when considering a broker. Prospective investors can try a demo account, which lasts 10 days and requires no deposit. This type of account can give newcomers a chance to get a look at how Forex trading works, and gives seasoned investors a chance to compare between FxD and their current or last broker.

What makes using FxDialogue as a broker so convenient isn't their low commissions, tight spreads, or lack of withdrawals; rather, their unique MetaTrader 4 add on is what makes them so convenient. Dubbed MexcelTrader, this add on simplifies keeping track of the market, making orders, and account management. MexcelTrader exports information from MetaTrader 4 and sends it to popular office software Excel. Up to date and real time market information is streamed to Excel, and investors can input commands straight from Excel's interface. This is much easier than simply using MetaTrader 4, which requires a great deal of customizations to be used to its fullest extent. MexcelTrader streamlines the process and puts even the newest investors on the same level as seasoned ones.

MexcelTrader is only available to members of FxD's brokerage services. Those with demo accounts are not open to use the software, but investors with LIVE or Advanced accounts have full access to MetaTrader 4 and their unique MexcelTrader add on.

There are a lot of reasons why an individual investor would choose a specific foreign exchange broker, and often those reasons are not set on convenience. But with the reasonable rates, low spreads, and no slippage, FxDialogue's convenience is only the icing on the cake. Experienced investors can transfer their information from their current broker to FxD for free as well, adding another layer to this exciting new player on the foreign exchange market.

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