Review of XGlobal Markets broker’s features: honest traders’ reviews
Review of XGlobal Markets Broker Features: Real Traders’ Reviews
XGlobal Markets – a well-known broker in the Forex market. The company’s legal data is XGlobal Markets Ltd, registered in Nicosia and licensed by CySEC under number 171/12. This fact makes XGlobal Markets attractive to beginners, considering the changes in Cyprus’ status and its relationship with offshore companies. The website xglobalmarkets.com with a Cypriot address demonstrates high reliability.
Technical Data and License
Cooperating with XGlobal Markets provides access to the following trading conditions:
- accounts in US dollars, euros, British pounds, yen;
- pure forex trading capability;
- leverage from 1:25 to 1:200 for fiat currencies;
- micro lots;
- maximum trade volume – 200 lots;
- spreads from 1 point;
- unlimited number of open positions;
- support for scalping, hedging, and news trading;
- ability to open swap-free accounts.
In addition to traditional accounts, the broker offers Islamic accounts, although there is no information on reviews from clients in Islamic countries. However, this is an important feature, considering the specifics of the Islamic market where usury is prohibited.
Demo Accounts
A demo account at XGlobal Markets is a standard practice for the Forex market. It allows testing the platform before investing real funds. Traders rate the demo mode on xglobalmarkets.com for:
- full display of prices and quotes in real-time;
- wide selection of currencies and commodities;
- no restrictions on accounts and working terms;
- support for Android mobile devices;
- simulation of all real account functions, except fund withdrawal;
- ability to use robots with a real account.
To access the demo version, a simple registration through the form on the website is required. Leverage and currencies match the real account. Protection includes a standard CAPTCHA and email verification.
Client Registration
One of the drawbacks of XGlobal Markets is the high minimum deposit, starting from 500 US dollars, euros, pounds, or 50,000 yen.
Portal Review
The XGlobal Markets website leaves something to be desired in terms of content and localization. Despite its functionality, traders with poor English may find it challenging. However, the platform operates on the MT4 base, which is convenient for beginners.
Education
Educational materials on xglobalmarkets.com do not stand out in terms of quality but provide a basic set of tools for starting. It is recommended to supplement knowledge from other sources.
Deposits and Withdrawals
Asset operations are standard and conducted following banking rules. XGlobal Markets supports card payments Visa, MasterCard, electronic systems Skrill and NETELLER, as well as bank transfers via IBAN.
Reviews
Opinions on XGlobal Markets vary: there are both positive and negative reviews. The lack of complete company information makes analysis challenging.
Pros and Cons
Pros:
- quality website with an education section;
- standard trading programs;
- extended demo mode;
- variety of trading positions and currencies;
- support for mobile devices.
Cons:
- high maximum leverage;
- high initial deposit;
- presence of negative reviews;
- limited platform selection.
Overall Conclusion
The XGlobal Markets review indicates a standard set of services in the Forex market. The broker requires a significant initial deposit but provides a convenient demo mode to familiarize with the platform. The decision to collaborate with this company remains at the trader’s discretion. Good luck!