XForex was founded in 2003 and is registered in the Virgin Islands. It was established by the group of professional traders with the aim to create a dealing desk meeting all traders’ requirements and conforming to the world’s highest standards as regards the quality of services.
It must be admitted they met the challenges and now the company is highly popular, thus proving its huge potential and strict commitment to its priorities. It serves customers from 140 countries all around the world offering 40 currency pairs, 20 types of shares, CFD contracts and futures.
Deposits and Withdrawals
Customers of xForex can make a deposit and withdraw funds from the trading account using one of the following financial instruments:
- Bank transfer;
- Visa and Master Card;
It is noteworthy that the funds must be withdrawn in the currency and the way the deposit was made.
The Virgin Islands are a safe haven for many Forex brokers. However, regulation by the following authoritative international financial institutes sets xForex apart from most of its counterparts registered there:
1. ASIC (Australian Securities and Investment Commission). License No. 343628. Registration number ACN – 140 899 476. Under this license the company can provide brokerage services in Australia according to the Australian legislation;
2. CySEC (Cyprus Securities and Exchange Commission);
3. XForex operates under Markets in Financial Instruments Directive (MiFID) regulating investment services in 28 countries of the EU.
XForex has the right to provide financial services in the UK, EU, Japan and Australia.
XForex specialists pay a lot of attention to safety issues. The company is using advanced trading and financial technologies to ensure security of customer funds.
XForex utilises a 256-bit SSL Bank Standard encryption to protect user data. The True-Site identity assurance seal along with AICPA WebTrust compliance affords the best security for e-commerce available.
To protect customer assets from any force-majeure circumstances, the broker is widely using segregated accounts, which ensure strict control and separation of client assets from other assets of the company.
Bonuses and Promotions
XForex is not holding any promotions and contests. There is no bonus system. The company is fully focused on creating most comfortable trading environment to its clients. Its specialists believe that the variety of promotions and marketing measures distracts traders from their main activity and prevents them from meeting their targets.
Trading Accounts Types
XForex customers can open two types of trading accounts (apart from demo accounts).
|Minimum deposit||from $100 USD||from $ 1 000 USD|
|Commission free deposit|
|Fixed spread||4-6 pips||2-5 pips|
|Leverage||up to 1:400||up to 1:400|
Live trading accounts can be opened in the following currencies:
- British Pound;
- Swiss Franc;
- Japanese Yen.
Trading Platforms Types
XForex specialists developed a unique trading platform that meets the highest standards of modern foreign exchange trading. It is web based, so customers just need to have access to Internet to use the platform and manage their trading accounts.
The platform has an internal news channel and a powerful set of information and analytical data.
It is easy to use and provides comfortable trading conditions.
The corporate trading platform of xForex conforms to the highest information security standards. The company experts put much effort to create a secure virtual client area. With the use of powerful secure SSL server, customers’ personal information can be stored in encrypted form. This allows to avoid any breaches.
Customer support service of xForex is available 24/5. Sunday 22:00 GMT – Friday 22:00 GMT. Clients can contact the support center as follows:
- Multiline phone;
- Live chat.
Irrespective of communication method, you will get a response in a few minutes. Customer service supports the following languages:
Pros of Trading with xForex
The main advantages of trading with xForex can be summarized as follows:
- No commissions! – fixed spreads. Low spreads between bid and ask price;
- Stock trading with leverage. Flexible stock trading: the possibility of making big deals with small capital;
- The possibility of making preliminary orders, which will be executed only if the price reaches a certain level;
- Strict order execution. Customer support will tell you there is no slippage on xForex platform and it is true;
- Individual manager efficiency. It is useful for not only beginners but also skilled traders to get advice of a highly qualified professional.
- Wide selection of various trading tools equally available to both proficient and beginner traders.
The company is remarkable for unique training and professional development programs developed by its specialists. They are available to both registered customers and guests.
One more essential feature of xForex is its unique indicators allowing to develop and introduce trading strategies.
Relatively small choice of currencies for opening an account can be regarded as one of the company’s few disadvantages. Besides, the broker pays little attention to risk management systems and programs. The loss control policy declared by the company is rather archaic and does not meet today’s requirements.
Voromz: I cannot say anything bad, but there are no reasons for admiration either. Strong, stable and reliable company. Except perhaps more powerful library and unique platform. Withdrawals are made without delays. It is not very convenient that deposits and withdrawals should be made in the same currency. On the whole, it’s a solid B.
Bill Samson: A brilliant broker. Instant order execution. Powerful research and information resource. I would recommend the broker to all.
Santa Vaskez: I’ve been working (and continue to work) with several brokers before xForex. What I like especially about the company is its trading platform (particularly some unique indicators) and individual manager. Irrespective of the trader’s level of proficiency, it’s always useful to communicate with an independent (in all senses) specialist.
It is commonly believed in the traders’ environment if the broker is registered in the offshore area, nothing good will come of it. At best, it will machinate to minimize your deposit, while in the worst case scenario it will just disappear with your money.
XForex is a rare exception from the rule. Along with the wide use of up-to-date trading and information technologies, accurate order execution is a distinctive feature of the company.
The broker is also remarkable for its powerful educational programs containing not only Forex trading rules but also more fundamental economic information.