FXLORDS Increase Your Profits
Who are they?
Founded in 2012, XGlobal Markets are one of the newcomers to the world of Forex trading. They’ve arrived with a clear mission to offer traders the best trading environment yet keeping things simple. They operate under an ECN/STP model enabling them to give the trader the best prices and instant trades, and practically automate their services. The structure XGlobal markets adopted is serving clients well by successfully offering an excellent Forex trading product at an attractive price.
They offer Gold and Silver trading as well as 45 currency pairs including six exotic currency pairs, which are about all the currencies pairs most traders would wish to trade. They are based in Cyprus, Limassol and are licensed and regulated by CySEC which falls under the EU wide regulatory authority, and are also covered by MiFID,The Markets in Financial Instruments Directive.
They offer Gold and Silver trading as well as 45 currency pairs including six exotic currency pairs, which are about all the currencies pairs most traders would wish to trade. They are based in Cyprus, Limassol and are licensed and regulated by CySEC which falls under the EU wide regulatory authority, and are also covered by MiFID,The Markets in Financial Instruments Directive.
Review Overview
Compliance to Different Authoroties
Speed and Ease of Procedures
Platform Execution
Technology and Facilities
Customer Support and Offers
Acceptable
They are new in the market but they are proving themselves by time, without compromising their services, if not improving them.
How do they help me learn?
XGlobal Markets has on their website a basic, yet sufficient education section for traders. Whilst it covers everything the trader needs to know about money management, technical indicators and Japanese candlesticks, but it is only in a written format, no videos. albeit very clearly and informatively written, the articles are long enough to make the client wade through reams of explanatory notes and diagrams, which could have been produced in many other entertaining format. There are no news articles or reports on market fundamentals nor any trading signals or recommendations.
- New traders have their own ‘Beginner’s Guide’ which is a straightforward tool for introducing them to the basics.
- Demo Accounts – The client will have access to a demo account that XGlobal offer, to get used to MT4 and during your trial period.
- Account Managers – XGlobal Markets’ account managers have been praised for their friendliness and professional approach without being too pushy, which again emphasis on the simplicity XGlobal Markets is offering. The account managers are available by phone or by email and offer good advice to novice and professional traders.
How is the clients support service in general?
Client support is available in several different languages and by telephone, email or live chat. There’s a detailed FAQ section on the website which covers most eventualities. The response time taken if you need to contact them was reasonable and the representatives were very well informed and helpful.
What does the industry say?
XGlobal Markets are relatively new to the scene and as yet haven’t garnered any awards but traders have had nothing but positive comments over the service provided by XGlobal Markets, mainly based on the excellent trading conditions available as well as the ease and smoothness these trading conditions are offered.
How safe is my money?
XGlobal Markets is registered with and regulated by CySEC and are covered by MiFID since XGlobal Markets falls under the European law and complies with an EU recognized regulatory body; the Cysec. They are registered and overseen by the Financial Conduct Authority in the UK – and by German regulators too. The company is audited by two of the world’s top accountants; Ernst and Young and Deloitte.
What platforms does XGlobal Markets offers?
XGlobal Markets have decided to adopt an ECN/STP model through the tried and trusted MT4 – a wise move given their popularity and reliability. Desktop, online and mobile versions are all available for all major operating systems. Whilst not offering MT5, we don’t see that as a problem given that most traders use MT4 based platforms.
What about their trading conditions?
Margin requirements are variable and based on the base currency in the currency pair. Stop out levels are set at 50%, which is too high and unjustified. Leverage varies from 1:1 up to 1:200 depending on size of the account and currency involved.
XGlobal Markets offers Islamic Sharia compliant accounts, simply called ‘No Swap’ accounts. because of their focus on the Middle East. Spreads are variable but very low, starting 0.8 pips on the EUR/USD. XGLOBAL Markets allows scalping without restriction, promises no re-quotes and, through ECN/STP they claim their pricing should generally avoid slippage. They also welcome Expert Advisers which are compatible with their MT4 based platforms. US citizens cannot open accounts with XGlobal Markets.
XGlobal Markets offers Islamic Sharia compliant accounts, simply called ‘No Swap’ accounts. because of their focus on the Middle East. Spreads are variable but very low, starting 0.8 pips on the EUR/USD. XGLOBAL Markets allows scalping without restriction, promises no re-quotes and, through ECN/STP they claim their pricing should generally avoid slippage. They also welcome Expert Advisers which are compatible with their MT4 based platforms. US citizens cannot open accounts with XGlobal Markets.
How much will it cost me?
XGlobal Markets offers trading only with variable spreads which are amongst the lowest around – as little as 0.8 on major pairs. To keep it simple they offer only one type of account guaranteeing commission free services and no minimum deposit although effectively, that is $1.
Funds can be accepted from a wide variety of sources including bank wires, credit cards and e-wallets and are usually credited the same business day and often instantly. Withdrawals are available readily for sending to similar destinations but whilst usually processed that business day they can take longer to reach you depending on the method and country of origin. There is no fee applicable on deposits nor withdrawals of funds. Deposits and withdrawals are available in US dollars or Euros.
Funds can be accepted from a wide variety of sources including bank wires, credit cards and e-wallets and are usually credited the same business day and often instantly. Withdrawals are available readily for sending to similar destinations but whilst usually processed that business day they can take longer to reach you depending on the method and country of origin. There is no fee applicable on deposits nor withdrawals of funds. Deposits and withdrawals are available in US dollars or Euros.
Any special deals?
XGlobal Markets do not offer any promotions as they pride themselves on the low cost but quality service they offer.
The bottom line
XGlobal Markets offer a no fuss, no frills trading service to traders of all levels of experience. They are securely regulated in Cyprus and the UK and are audited by top accountants so funds should be safe with them.
Their website is clear and presents all information any trader might need to know. Costs are kept to the minimum for the trader but still without compromising the level of their service. However, it’s a young company and without some of the useful add-ons offered by other brokers such as chart analysis tools, seminars, SMS alerts etc.
Traders rate them as honest and are definitely worth considering.
Their website is clear and presents all information any trader might need to know. Costs are kept to the minimum for the trader but still without compromising the level of their service. However, it’s a young company and without some of the useful add-ons offered by other brokers such as chart analysis tools, seminars, SMS alerts etc.
Traders rate them as honest and are definitely worth considering.
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