XGlobal Markets Forex Trade Platform and Broker Review

XGlobal Markets Forex Trade Platform and Broker Review

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XGlobal Broker Review

XGlobal Markets is a well-regulated Cyprus-based Forex broker that offers extremely competitive spreads and a great selection of trading tools. All of the trading instruments can be traded on the highly popular MetaTrader 5 platform. 

XGlobal Markets was established in 2012 and is headquartered in Cyprus, with approximately 50 employees. 

Is XGlobal Markets Regulated?

Yes, XGlobal Markets is regulated by the Cypress Securities and Exchange Commission (CySEC). 

This is the financial regulatory body that grants operating licenses, inspects the securities of companies listed on the Stock Exchange, and imposes administrative sanctions to brokerage service firms, investment consultants, and to other legal entities.

XGlobal Markets is also regulated by the Financial Conduct Authority (FCA) in the United Kingdom. 

According to the official website, XGlobal Markets is under regulation for offering cross-border licensed brokerage and financial services within the European Economic Area, and throughout the United Kingdom. 

XGlobal Markets’ regulations guarantee segregated client funds and the broker’s participation in the Investor Compensation Fund. 

The Fund was established under the Investment Firms Law of 2002 and the establishment and Operation of an Investor Compensation Fund for Customers of Cyprus Investment Firms Regulations of 2004 which were issued under the Law. 

All retail clients have their funds insured to a maximum of 20,000 Euros each, in the unlikely event that the company cannot fulfill its obligations due to insolvency. 

Is XGlobal Markets Regulated in the United States?

No, XGlobal Markets is not regulated in Virginia or any other US state. 

Is XGlobal Markets Regulated in Europe?

Yes. XGlobal Markets has been regulated in Europe since 2012 by the Cypress Securities and Exchange Commission (CySEC). In Europe, XGlobal Markets offers cross-border investment services as a regulated Forex broker Europe.

Is XGlobal Markets regulated in a Tier-1 Jurisdiction?

According to the XGlobal Markets website, XGlobal Markets is regulated under Tier-1 jurisdiction. 

This particular type of licensing means that the broker can provide regulated financial services in one or more of the following countries: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

Is XGlobal Markets regulated in Tier-2 Jurisdiction?

According to the official XGlobal Markets sources, XGlobal Markets is regulated under Tier-2 jurisdiction. 

As with Tier-1 jurisdiction, Tier-2 jurisdiction pertains to licensed financial services offered in the following countries: British V.I., Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

What are the Platforms and Tools for Forex Trading in XGlobal Markets?

XGlobal Markets offers traders access to the industry-leading MetaTrader 5 platform, and also offers a MAM Multi-Trader platform.  

  1. The MetaTrader 5 platform from XGlobal Markets allows for the best bid/ask prices streamed from the broker’s liquidity pool, providing market execution without delay. Available instruments include FX, Precious Metals, Commodities, Indices, Energies, and Cryptocurrencies.
  2. The Multi-Account Manager Software from XGlobal Markets provides money managers a solution to manage trades on a network of client accounts from a single MT5 master account. Money managers are provided a dashboard that allows them to select the methodology used to transmit their trades to client accounts. 

Does XGlobal Markets Have a News Blog for Forex News?

Yes. XGlobal Markets has a free news blog available on its official website. XGlobal Markets official blog consists of updated fundamental analysis and global financial news that will allow users to analyze important market events which may impact their trades. 

Does XGlobal Markets Have a Traders Dashboard?

No, XGlobal Markets does not provide a Traders Dashboard. Some brokers offer this centralized data streaming location on their websites, allowing traders to navigate various streams of currency analysis. 

Does XGlobal Markets Have an Educational Section?

Yes, XGlobal Markets has an education system for Forex Traders. To join the education system, users simply need to click on the “Learn” tab at the top of the broker’s website, which will redirect to the various educational courses offered by the broker. 

What is the content of XGlobal Markets Forex Education?

There are 4 educational courses that are offered free of charge by XGlobal Markets. Each of these courses has different lectures. 

The Beginner Course has 5 lectures, which are listed below. 

  1. What is Forex Trading All About
  2. The concept of Fundamental Analysis
  3. Introduction to Technical Analysis
  4. How to successfully choose a broker
  5. The principles behind lots trading and pips calculation

The Japanese Candlesticks course has 3 lectures, which are listed below. 

  1. Japanese Candlestick Basics
  2. Double Candlestick Patterns
  3. Interpreting Candlestick Patterns

The Technical Indicators course has 6 lectures, which are listed below. 

  1. Support and Resistance Lines
  2. Trendlines
  3. Channel Line
  4. Bollinger Bands
  5. The Relative Strength Index (RSI)
  6. Moving Averages

Finally, the Money Management course has 5 lectures, which are listed below. 

  1. Intro to Money Management
  2. Money Management Main Guidelines
  3. Trade Diversification and Risk Management Strategies
  4. Trade Timing Tactics
  5. Summary of Money Management and Trading Guidelines

Beginner and intermediate traders should use the educational resources offered by XGlobal Markets. 

The Beginner Course allows newbie traders to proceed through the material at their own pace, and the other lectures have insightful topics from which intermediate traders would benefit. 

Is XGlobal Markets Legit?

Yes, XGlobal Markets is a legit Forex Broker and Trade Platform. XGlobal Markets has CySEC and FCA legal certificates to perform Forex Broker and trading services.

Is XGlobal Markets Safe?

XGlobal Markets is a reliable and safe Forex Trade platform in terms of its regulation and safety protocols. The broker is regulated in several global jurisdictions, as described below:

  • The FCA regulates XGlobal Markets in the United Kingdom
  • CySEC regulates XGlobal Markets in the cross-border European Economic Area

All client funds are held in segregated accounts within secure banking institutions, thereby safeguarding against their use for any other purpose. 

XGlobal Markets as a segregated account broker operates this kind of separate account principally to shield client investments from circumstances resulting from the risk of any force majeure relating to the company’s activity. 

XGlobal Markets is a member of the Investor Compensation Fund. 

The Fund was established under the Investment Firms Law of 2002 and the establishment and Operation of an Investor Compensation Fund for Customers of Cyprus Investment Firms Regulations of 2004 which were issued under the Law. 

All retail clients have their funds insured to a maximum of 20,000 Euros each, in the unlikely event that the company cannot fulfill its obligations due to insolvency.

Finally, in order to safeguard its clients’ best interests and to ensure that all company operations are in full compliance with European laws and regulations, XGlobal Markets works closely with its internal and external auditors. 

Is XGlobal Markets a Good Broker?

Yes. According to the Forex Suggest review, for security, trading speed, online support, and cryptocurrencies, XGlobal Markets is a good broker. 

  1. In terms of trading speed, the MetaTrader 5 platform from XGlobal Markets is built with market execution, so that there is no delay and minimal slippage. 
  2. In terms of security, XGlobal Markets remains compliant with its regulatory obligations to provide segregated accounts, transparent audits, and secure data encryption for client account protection. 
  3. In terms of online support, XGlobal Markets offers a dedicated chat button on its homepage through which traders can contact a support team member for immediate assistance.   
  4. In terms of cryptocurrencies, XGlobal Markets provides CFD trading on several leading crypto coins which can be traded against fiat currencies such as the USD.

What is the Offering of Investment in XGlobal Markets?

Offerings of XGlobal Markets can be found below.

Feature XGlobal Markets
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  Yes

Does XGlobal Markets have Nasdaq?

Yes, XGlobal Markets offers traders the option of trading CFDs on the Nasdaq 100 Stock Index. This consists of the traded shares of the largest 100 companies by market capitalization on the Nasdaq exchange. 

What are the Awards of XGlobal Markets?

According to the official sources and Forex Trading platforms, XGlobal Markets does not have any awards to date. 

How to Use XGlobal Markets for Forex trading?

To use XGlobal Markets, a forex trader should have the necessities below:

  1. A copy of their identification documents
  2. They should be 18 years or older
  3. They should be able to afford the minimum deposit of $500
  4. They should be a resident of the following countries:
  5. Austria, Bangladesh, Belarus, Brazil, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Gibraltar, Greece, Hong Kong, Hungary, Iceland, Indonesia, Ireland, Isle Of Man, Italy, Kazakhstan, Latvia, Lebanon, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Netherlands, Nigeria, Norway, Poland, Portugal, Qatar, Romania, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Arab Emirates, Ukraine, United Kingdom, Vanuatu.

If a Forex Trader has the conditions above, they can open a forex trading account to use XGlobal Markets. 

How to open a Forex trading account with XGlobal Markets?

To open a Forex Trading account with XGlobal Markets, a trader should follow the steps below.

  1. Proceed to the XGlobal Markets Sign Up page
  2. Complete the online registration form
  3. Create your trading account
  4. Deposit funds to your account and start trading

What are the Forex Trader Account Types with XGlobal Markets?

Forex Trading Platform and Financial Asset Management Institution XGlobal Markets have 6 different account types. Every Forex trading account type has different features and conditions with XGlobal Markets. 

XGlobal Markets Account Types are listed below. 

  1. Demo Account

  2. XG Raw Account

  3. XG Standard Account

  4. XG Islamic Account

  5. Corporate Account

  6. Professional Account

  • Demo Account

The demo account from XGlobal Markets allows users to test the trade features of the MetaTrader 5 platform, as well as the conditions within the broker’s trading accounts. This will allow traders to determine whether the broker’s features are suitable before signing up for a real account. 

  • XG Raw Account

The XG Raw Account from XGlobal Markets offers clients the lowest possible spreads for strategies that demand it. Trade costs are commissions based, and are transparent and easy to understand, with no variation across different symbols.  

  • Raw spreads with $3.75 per side, per lot commissions
  • Market execution without delay
  • IOC fill policy with deep top-of-book
  • All ethical trading strategies welcome
  • Internal matching and external liquidity coverage model
  • XG Standard Account

The XG Standard account from XGlobal Markets provides users with a competitive spread with no commissions. It provides a simple and user-friendly trade environment for standard retail traders. 

  • pip spread with zero commission fees
  • Market execution without delay
  • IOC fill policy with deep top-of-book
  • All ethical trading strategies welcome
  • Internal matching and external liquidity coverage model
  • XG Islamic Account

As Sharia law forbids lending out money with interest, FX trading with roll-over or swap fees goes against this law. As a result, XGlobal Markets offers roll-over and swap-free trading, which is in accordance with Islamic beliefs. Muslim traders can enjoy the following benefits:

  • Nightly storage fee after 7 calendar days
  • FX, precious metals, indices, energies, and commodities available
  • Arabic speaking support available
  • No commissions and no swap charges
  • Account tailored for Islamic clients
  • Corporate Account

The Corporate Account from XGlobal Markets provides legal entities the ability to trade the broker’s complete variety of instruments through MT5 with competitive trading conditions. 

The conditions on this account include tight spreads, no dealing desk execution and flexible leverage without any commissions or fees.

  • Professional Account

The Professional Account from XGlobal Markets provides trading conditions tailored for experienced traders that include high leverage to clients that are categorized as professional. 

Clients that can prove they meet the eligibility criteria can request to be categorized as professional.

Eligibility to be categorized as a professional client (as opposed to retail) is based on a combination of historic trade volume, work experience, and financial ability to tolerate risk. In order to qualify clients must meet 2 of the following 3 criteria:

  • Have sufficient history of relevant derivative transactions in each of the previous 4 quarters
  • Hold cash or equity in financial instruments of 500k EUR or more
  • Have professional experience in a role that requires knowledge of the services XGLOBAL provides

How to Withdraw Money from XGlobal Markets?

To withdraw money from XGlobal Markets, the following should be done:

  1. You will find the withdrawal forms for your account in the online section. To withdraw the money you must have supplied the required documentation. 
  2. A withdrawal to a bank account where initial deposits have been performed by credit cards will be executed back to the credit card or to the bank account at the company’s discretion and policies and with regard to Anti Money Laundering (AML) regulations.

How many days do deposits take with XGlobal Markets?

Deposits will typically take a day to be processed after reflecting in the broker’s bank account. 

The time it takes for deposits to reflect with XGlobal Markets depends on your chosen payment method. Bank accounts take up to 2 working days, while e-payments take less than 24 hours. 

What are the costs and fees with XGlobal Markets?

Forex Trading Costs with XGlobal Markets are charged in three ways, namely commissions, spreads, and swaps. 

Commissions are charged per round turn and apply to only certain accounts and instruments. Spreads are charged as the difference between the bid and the asking price and vary according to the instrument being traded and the account conditions. 

Swap fees consist of interest on positions held open overnight and can be debited or credited to a trader account, depending on the conditions of that position. 

A Forex Trading Cost is charged by the broker to the trader in return for its services and is essentially how a broker will make a profit. 

The Forex Trading Fees with XGlobal Markets are below. 

XG Raw Account:

  • Spreads from 0.2 pips
  • $3.75 per side commissions

XG Standard Account:

  • Spreads from 1.0 pip
  • No commissions

XG Islamic Account:

  • No commissions and no swap charges

What are the Trading Fees with XGlobal Markets?

Apart from the commissions, spreads, and swaps, XGlobal Markets also charges a €25 monthly inactivity fee charged to accounts dormant for 180 days. The broker does not charge a fee for making deposits or withdrawals.  

What is the minimum deposit in XGlobal Markets?

The minimum deposit amount required in order to open an account with XGlobal Markets is $500. 

What are the contract specifications in XGlobal Markets?

Feature XGlobal Markets
Forex Trading Yes
CFDs 4
Forex Pairs 40
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 4
Social Trading  Yes

Does XGlobal Markets have promotional offers?

No, XGlobal Markets does not provide promotional offers or bonuses to its new or existing clients. The broker is restricted from offering promotions by its regulators, CySEC and the FCA, as part of client protection measures against overtrading. 

Does XGlobal Markets have a welcome bonus?

No, XGlobal Markets does not have a welcome bonus.

XGlobal Markets does offer one of the best execution models in the industry. This includes best-aggregated pricing, fast execution, and the highest possible likelihood of execution. 

XGlobal Markets streams an ECN price feed and executes client trades by internally matching them on its own book. As a result, excess net exposure is fully covered with third-party liquidity providers.

Does XGlobal Markets have a deposit bonus?

No, XGlobal Markets does not offer a welcome bonus.  This is part of the broker’s regulatory restriction against offering bonuses and promotions.  

Is there a commission-free trade bonus in XGlobal Markets?

No, XGlobal Markets does not offer a commission-free trade bonus. However, commission-free trading is available on the XG Standard Account.

Is there a VIP bonus in XGlobal Markets?

No, XGlobal Markets does not offer a VIP bonus. Professional clients can apply for a tailored professional account with improved trading conditions.  

Can you start trading with no money at XGlobal Markets?

No, you cannot start trading with no money at XGlobal Markets. This is because XGlobal Markets does not offer any deposit bonus, therefore traders will need to deposit their own funds when opening a Trader Account.

How does leverage work with XGlobal Markets?

Leverage is used to significantly increase your purchasing power. A smaller margin deposit can control a much larger total contract value. XGlobal Markets offers a leverage of up to 200:1.

Traders can use leverage with XGlobal Markets by setting their required leverage level, or ratio, from within their account settings. Professional clients can apply directly to the broker’s support team to set customized leverage ratios.  

Where are the headquarters of XGlobal Markets?

XGlobal Markets is headquartered in Cyprus. 

Who is XGlobal Markets’ CEO?

The CEO of XGlobal Markets is Samir Dbouk. The broker does not divulge any further information regarding its CEO. 

What are the social media accounts of XGlobal Markets?

Traders can follow XGlobal Markets on the following social media accounts:

  • Twitter
  • Facebook
  • Instagram
  • LinkedIn

How many employees do work for XGlobal Markets?

According to the official LinkedIn profile, XGlobal Markets has approximately 50 employees. 

What are the opinions about XGlobal Markets?

XGlobal Markets is a very good choice for beginner and professional traders alike. The range of trading instruments is offered at extremely competitive spreads and commissions, with ECN execution for the best pricing available. 

While XGlobal Markets does offer only one trading platform, MetaTrader 5 is a feature-rich option that will suit the needs of most traders. The broker is well-regulated and offers excellent customer support. 

What are XGlobal Markets Contests?

XGlobal Markets does not run any kind of Forex Trading Contests. Forex Contests can be performed for brokers who offer them to traders to profit on contest winnings. 

XGlobal Markets didn't perform any Forex Contest in the past. For future forex exchange contests and competitions, XGlobal Markets didn't perform any official announcements yet.

Does XGlobal Markets have online support?

Yes, XGlobal Markets has an online support team for Forex trade account users. Traders can simply click on the chat button in order to contact a support team member for immediate assistance.  

Does XGlobal Markets offer demo accounts for Forex trading?

Yes, XGlobal Markets offers a free demo account for all new traders. The demo account can be opened with the following steps:

  1. Click on the demo sign-up button on the broker’s website 
  2. An email will be sent to you with a username and password.
  3. Login with the details provided in XGLOBAL Login.
  4. Complete the demo details information.
  5. Download MT5.

Does XGlobal Markets have a mobile app for Forex trading?

Yes, XGlobal Markets offers the MT5 mobile app. 

The app can be easily downloaded for either Android or Apple devices. You just need a Wi-Fi or a mobile internet connection to log in to your Real or Practice account so you can have access to the global markets. The mobile app will have several features listed below. 

  • Set Stop-Loss and Take-Profit Levels
  • View interactive currency charts for all the tradable pairs
  • Real-time Profit/Loss of Live Trades
  • Modification of existing orders
  • Access past trading performance record
  • Secure and confidential access

Does XGlobal Markets publish an economic calendar?

An economic calendar is a useful resource for many traders, allowing them to check upcoming announcements from around the world which may impact currency prices and global economic relations. 

Unfortunately, XGlobal Markets does not provide an independent economic calendar outside of the MT5 platform. 

What is the communication information of XGlobal Markets?

XGlobal Markets has one telephone numbers and one local address 

XGlobal Markets’ main telephone number is: +357 25 262002

XGlobal Markets’ main local address is: 162 Fragklinou Rousvelt, 1st Floor
3045, Limassol, Cyprus