Founded in 2012, XGlobal Markets
is one of the newcomers to the world of Forex trading. It arrived with a clear mission to offer traders the best trading environment yet keeping things simple. The company operates an ECN/STP model
enabling it to give its client the best prices with instant execution, practically automate its own services. The structure XGlobal Markets
adopted is serving clients well by successfully presenting an excellent Forex trading product at an attractive price.
It offers gold and silver trading, CFDs as well as 47 currency pairs. The company is based in Cyprus, Limassol and is regulated by CySEC which falls under the Markets in Financial Instruments Directive (MiFID).
Compliance to Different Authorities
Speed and Ease of Procedures
Technology and Facilities
Client Support and Offers
XGlobal is new in the market but traders rate them well. It is constantly proving itself and is definitely worth considering
How does it help me learn?
included on its website only a basic education section for traders. It covers the essentials traders need to know about but it is only in a written format, no videos or infographics. 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 formats. There are no reports on market fundamentals nor any trading signals or recommendations.
- Demo Accounts and Accounts Managers – The client will be able to trade a demo account to get used to MT4 and the company’s trading conditions. XGlobal Markets‘ account managers are available by phone or email to assist and give advice to novice and advanced traders. The 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.
- Forex Educational Center – Website visitors have access to a small educational center which lists subjects like Beginner’s Guide, Technical Indicators, Japanese Candlesticks and Money Management.
How is the client 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 necessities. Response time taken was reasonable and representatives were well informed and helpful.
What does the industry say?
XGlobal is relatively new to the scene and as yet haven’t garnered any awards, however, 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 of the services offered.
How safe is my money?
XGlobal is registered with and regulated by CySEC and it complies to the MiFID as a European investment firm. It is also regulated by the Financial Conduct Authority (FCA) in the UK – and by German regulators too (BaFin). The company is audited by two of the world’s top auditors; Ernst and Young and Deloitte.
What platforms does XGlobal Markets offer?
XGlobal Markets has decided to adopt an ECN/STP model through the tried and trusted MT4 – a wise move given MT4 popularity and reliability. Desktop, web-based and mobile versions of MT4 are available for all operating systems. Although the company operates only ECN/STP trading environment, surprisingly it doesn’t offer MT5.
What about its trading conditions?
Margin calls occur at 100% of the required margin. Stop out level is set to 50%, which is too high and unjustified. Leverage varies from 1:1 up to 1:200 depending on size of the account.
Because of its focus on the Middle East, XGlobal offers Islamic Sharia compliant accounts, simply called Islamic accounts. It also allows scalping without restriction, promises no re-quotes and through ECN/STP, it claims pricing generally shouldn’t be subject to any slippage. Expert Advisers are compatible with the company’s MT4 platforms.
How much will it cost me?
XGlobal Markets offers trading only with variable spreads but they are among the lowest around – starting as little as 1 pip on the major pairs, and to keep it simple XGlobal offers only one account with no minimum deposit.
Funds are accepted from a wide variety of sources including bank wires, credit cards and e-wallets and are usually credited instantly. Withdrawals are available readily for sending via the same deposit method and usually they are processed on the same business day. There is no fee applicable on deposits nor withdrawals of funds. Deposits and withdrawals applications are conducted from the “Client Area“, an efficient and stable portal which allows the account holder to perform several actions on his account without the need to contact the company’s staff.
Any special deals?
XGlobal Markets does not offer any promotions as it prides itself on the low cost but quality service it offers.
The bottom line
XGlobal offers trading service to traders of all levels of experience. The website is clear and presents all information any trader needs to know. Costs are kept to the minimum but without compromising the level of its service if not improving them. However, the company is still young and it needs the proper exposure not to mention adding some useful third-party applications offered by other brokers such as chart analysis tools, webinars, SMS alerts and others.
Do you like this broker?
If you like this broker and want to open a live account, send us a request by filling the form below and we will reimburse you the full rebate generated from your trading.