XForex Review

MIN. DEPOSIT $100
Up to 400:1
Up to $6,000 BONUS
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XForex
Up to $6,000
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Overview

Company Information XForex is one of the preferred retailer brokers with more than ten years in the industry. Just like many others it’s registered in Cyprus and regulated by almost… more

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Details

BrokerXForex
Website URLhttps://www.xtrade.eu/
Founded2010
HeadquartersLimassol Cyprus
Support Number+44 2038074001
Support Emailsupport@xtrade.com
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Spanish, Danish, Hungarian, Greek, Tamil, Slovene, Arabic, Russian, Czech, Slovak, Dutch, Bulgarian, Chinese, Thai, Italian, Cantonese, Norwegian, Tagalog, Bosnian, Serbian, Portuguese, Indonesian, French, Japanese, Swedish, Finnish, Croatian, Bengali, Farsi, German, Polish, Romanian, Malay, Azerbaijani, Korean
Minimum 1st Deposit$100
Minimum Trade Amount0.1 lots
BonusUp to $6,000
PayoutUp to 400:1
Free Demo AccountYes
Regulated Yes
RegulationCySEC and MIFID
Account TypesLive, Demo
Deposit MethodsVisa, MasterCard, American Express, China UnionPay, DineroMail, Fast Bank Transfer, PayPal, Abaqoos, AliPay, Astropay Card, BankLink, Boleto, cashU, DineroMail (ServiPag), eCard, eKonto, ePay.bg, EPS, Giropay, Halцash, iDeal, EUTeller, Lobanet, Moneta, Mister Cash, Multibanco, Neosurf, Neteller, Paysafe Card, Przelewy24, Qiwi, Skrill, Poli, Sofort, Sporopay, Teleingreso, Ticketsurf, Todito Cash, Webmoney, Yandex Money
Withdrawal MethodsVisa, MasterCard, American Express, China UnionPay, DineroMail, Fast Bank Transfer, PayPal, Abaqoos, AliPay, Astropay Card, BankLink, Boleto, cashU, DineroMail (ServiPag), eCard, eKonto, ePay.bg, EPS, Giropay, Halцash, iDeal, EUTeller, Lobanet, Moneta, Mister Cash, Multibanco, Neosurf, Neteller, Paysafe Card, Przelewy24, Qiwi, Skrill, Poli, Sofort, Sporopay, Teleingreso, Ticketsurf, Todito Cash, Webmoney, Yandex Money
Types of AssetsForex, Shares, Indices, Commodities
Account CurrencyUSD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

XForex is one of the preferred retailer brokers with more than ten years in the industry. Just like many others it’s registered in Cyprus and regulated by almost all the official authorities, such as CySec, FSA (Europe), and ASIC (Australia). Also, the international broker has been approved and regulated by many local authorities is different countries. It is serving now almost all European countries and prepares to expand its base of operations even further. XForex initially started in 2003 by some well-respected financial experts and dealers on the market. For about three years the company gained popularity and became an international Forex institution. Nowadays the broker operates in 140 different countries around the world and has hundreds of employees. Unfortunately, USA is not part of this extensive list due to the strict regulations imposed by its government. There are numerous branches and offices across the globe in some of the most attractive financial centers. XForex is surely a solid choice for the professional traders. However, beginners should also consider the company as an option. The broker offers an extensive educational program with videos, reading materials and even practice sessions. Regular market analysis and trading ideas are also provided.

 

Trading Information

As a reputable provider of financial instruments, XForex offers a generous basket of currency pairs with more than 70 different pairs, CFDs, Metals, Commodities, Indices, Oil, Gold, and even Bitcoins. The trading conditions are also perfect for professional traders with fixed spreads starting from 3 pips for one of the most famous pairs EUR/USD. The maximum leverage goes to 1:400 on Forex and 1:200 for stocks and indices. Bitcoins have much higher requirements and the leverage there is just 1:10. Traders are allowed to create two types of accounts – Standard and Premium. The main difference between the two kinds of profiles are the spreads. Of course, the Premium account employs much tighter spreads and excellent trading environment for day trading. Apart of this, XForex allows almost all types of modern trading strategies, such as hedging, scalping, and automated trading.

 

Trading Platforms

When it comes to platform, the international broker has a different policy than most of the other providers out there. XForex uses a proprietary software called XTrade. The platform is developed by the company and has all the features of the modern trading tools. Its charting capabilities are not that advanced as the notorious MetaTrader 4. However, the usability is greatly enhanced and user-friendly. XForex’s software is entirely web-based, and it’s perfectly convenient for both desktop and mobile users. It’s accessible from all devices without any installation requirements. You just need a browser, simple as that. XTrade also supports more than 30 different languages. Various stop loss and profit taking options are available for enhanced position risk management.

 

Security and Customer Service

All responsible brokers and XForex also falls in this category, provide efficient SSL encryption on their web pages related to sensitive customer information. The top security measure is issued and certified by Comodo as one of the biggest names in the industry. When it comes to money, the European broker follows the best practices in the branch and keeps all the clients’ investments on separate accounts in top-rated banks. As we’ve mentioned above, XForex is regulated by numerous authorities, both on a local and regional level. It ensures extra piece of mind for traders who decide to invest with this broker.

 

Customer service can be rated as extremely professional and friendly. Anyone can easily get in touch with the staff 24 hours a day, five days a week.There are many different ways to contact the support, and some of them are quite convenient. Apart from the standard methods to get in touch with the broker, such as live chat, a UK phone line, and web contact form, traders can also request technical support via TeamViewer. The website is also available in more than 40 languages.

 

Deposits and Withdrawals

XForex offers two of the most popular ways for deposits and withdrawals. The broker allows its clients to pay with bank wire transfers or credit/debit cards. Both methods can be easily executed right from the trading platform. The minimum required for the client to open an account with XForex is $100. Transactions with cards are handled instantly, but bank wire transfers may need a few days to be processed. There are no fees deposits and withdrawals applied from the broker. However, traders should be aware that third-party services, banks, for example, can use their general taxation. Before any withdrawal, clients should have all the required documents submitted and reviewed by XForex.

 

Deposit Bonus and Loyalty Programs

It’s time for the best part, the promotions presented by the European broker. There are two types of bonuses for new traders. The first one is a welcoming deposit bonus that goes up to 60% of the initial investment. The lowest possible rewards are 20% on deposits from $100 to $249. However, high rollers with deposits above $10 000 will get a personal offer from the broker. Account verification is also encouraged by XForex by a $25 bonus money. Customers simply have to verify their documents with the company and grab the extra reward. Take note that all the bonus cash for both promotions is unlocked by accumulating XPoints that we will review below.

 

So, what are XPoints? XForex introduces an excellent loyalty program that lets existing customers unlock various awards, such as extra money and more.

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