XGLOBAL Markets Review

Richard Montana | August 2, 2022

XGLOBAL Markets is a multi-regulated CFD broker with a good selection of trading instruments including forex, cryptos, commodities, stocks and indices. You can trade on +100 trading symbols in 5 account currencies, via the robust MetaTrader 5 (MT5) platforms for all of your devices. There are plenty of high-quality tools available for you to analyse the markets and find opportunities. The broker has a dedicated learning centre where beginners can educate themselves about trading online via handy trading guides and video tutorials. I like how they have a variety of account types to cater for different styles of trader. There is a minimum deposit of $100 to open an account or you can see what they have to offer with the free demo account option. Overall, I believe they have very good trading conditions that can be suitable for traders of all experience levels who are looking to access the markets in a regulated environment with minimal fuss.

Summary

XGLOBAL own and operate regulated financial brokerage firms that offer electronic trading in financial assets to retail and professional investors globally. The XGLOBAL group consists of three regulated firms (licensed by CySEC, VFSC & FSCA) that together can legally provide CFD trading services on a cross-border basis to residents in the nearly every single country Worldwide. The main service offered to clients is trading in CFDs (Contracts for Difference) on forex, precious metals, commodities, indices and shares. This is offered to clients on a self-directed speculative basis and the firm does not advise clients. Trading services are offered via the industry leading MetaTrader platform, which is XGLOBAL branded under license. In addition to self-directed speculative trading services as mentioned above, the CySEC firm also offers a portfolio management service to high net worth individuals. The firm also manages clients’ money by investing the financial markets.

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Regulation

When it comes to choosing a broker, regulation is one of the first things that I look. I would always prefer to trade with a regulated broker because it gives me the peace of mind that they will be operating in an open and transparent manner. Regulated brokers can give investors certain protection that an unregulated brokerage firm cannot. XGLOBAL Markets is regulated in multiple jurisdictions by the relevant authorities which gives me the confidence that I can trust them for my day trading activities. Just keep in mind, not all regulators are the same. Therefore, the products, features and protection can vary depending on the entity that you open an account with.

• XGLOBAL Markets is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC)
• X Global Africa (Pty) Ltd, s licensed by the Financial Sector Conduct Authority (FSCA)
• Investment services are provided by XGLOBAL FX Ltd, an international broker regulated by Vanuatu Financial Services Commission (VFSC)

Countries

The broker permits traders from most parts of the world to open a trading account with them if their countries of residence permit online trading with international brokers. If you discover that they do not accept users from your country for whatever reason, please feel free to take a look at our broker ratings for some alternative options.

Platforms

MetaTrader 5

The broker provides traders with the popular and sophisticated MetaTrader 5 trading platform. It was developed in 2010 by the trading software company, MetaQuotes, and it is widely used by traders around the world due to its intuitive and user-friendly interface with rich functionality. The platform offers advanced financial trading tools for technical and fundamental analysis. It also supports automated trading using trading robots, as well as copying signals. The platform offers a low latency feed and order execution without delay. MT5 is available as a desktop application for Windows and Mac computers, a web trading terminal, and trading apps for Android and iOS devices. The mobile app can be downloaded from the relevant app stores and is ideal for checking your positions and following the latest market news whilst on the go. I am a big fan of the MetaTrader platforms and think they are ideal for anyone who is looking to get convenient access to trade the global markets. They have all of the tools you need for analysing the markets and trading manually or using automated strategies. Another key advantage of the platform is that you will find there are many MetaTrader brokers. Therefore, if you decide to switch brokers down the line, you won’t necessarily need to learn how to use a new platform from scratch.

MetaTrader 5 (MT5) Platforms

MetaTrader 5 Features

• Algorithmic trading capabilities through MQL programming language
• Third party applications and integrations such as Trade Copiers and Multi-Traders
• Well-developed charting package that includes every major technical indicator
• Master and investor (read-only) passwords, allowing users to give read-only access so they can monitor account performance without trading
• Alerts system, which includes the ability to send emails when levels are hit
• Journal, which records all activities including order requests, fills and execution to the millisecond
• Ability to view detailed contract specifications for each and every symbol available
• Easily view overview of account exposure
• Built in trade copying facility from the MQL signals service
• Mailbox in the platform allows traders to receive notifications from XGLOBAL Markets
• Ability to store multiple MT5 account logins from different brokers in the same installation
• Application is translated into 39 languages so suitable for clients from all around the World

MAM Multi-Trader

The XGLOBAL MAM (Multi Account Manager) software 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. Fee collection is automated using a variety of management fee models that can be set directly from the dashboard.

• ELS, BLS, ECS, percentage & fixed allocation models
• Dashboard control for money managers
• Unlimited slave (client) accounts
• Automated performance fee collection
• Exotic range of CFDs available on request
• Dedicated relationship manager and support

Tools

There are no standalone trading tools on the broker’s website at the moment, but the MT5 trading platform has more than enough trading tools to satisfy even the most advanced traders. There is an abundance of high-quality tools including technical indicators and drawing tools so that you can build trading strategy chart templates as complex or simplistic as you need them to be. If that is not enough, there is the MT5 marketplace where you will thousands more tool that you can add to the platform to further enhance its already significant capabilities. Then you have the MQL editor, from where you can develop your own trading tools for the platform if you have the coding skills to do so. If not, you can always hire a freelancer to bring your ideas to life. Whatever the trading strategy you have in mind is, chances are you can make it a reality in the MT5 platform.

Education

There is a dedicated section of the broker’s website which has a nice selection of educational resources that can improve traders’ knowledge and educate them about the financial markets. The available resources include beginner courses on forex trading, Japanese candlesticks, technical indicators and money management. You can browse the resources at your own pace to so that you can gain the requisite knowledge for making informed trading decisions. I found the courses very easy to understand and think they will be helpful for those of you who are absolute beginners. The intermediate and more advanced trades will probably already be familiar with most of the topics covered. There is also the option of a free demo account if you want to put what you have learned into practice. The broker also has a market news section where you can read some informative articles regarding the latest economic news.

Markets

XGLOBAL Markets give you access to a generous selection of trading instruments across 5 asset classes, including forex, commodities, stocks, indices and cryptos. I think there is a good variety for everyone to build a diversified portfolio, regardless of your interest. You will find everything from major, minor and exotic currency pairs, to popular cryptos and shares of major companies. They broker offers CFD trading which means you can speculate on falling or rising prices without needing to physically own the underlying asset. The difference in price from when you open and close the CFD position, is the profit or loss minus any brokerage fees – which are very reasonable when trading with XGLOBAL Markets.

Forex

You can speculate on currency demand, economic performance and government policy between nations by trading forex instruments.

• Spreads starting at 0.2 pips
• Split-second execution
• No swap fees on most pairs
• 01 – 200.00 lot sizes

Gold & Silver

The broker offers Gold and Silver trading in both Spot and Futures contracts with competitive pricing and low margin requirements. You are able to trade commodities with both short and long trades welcome.

• MT5 precious metals trading
• Lots based in Troy ounces
• Exposure of safe-haven assets
• Leveraged spot contracts

Indices

Client can invest in the performance of the global equity markets by trading indices with major European and US indices such as Dow Jones, DAX, NASDAQ and S&P500.

• Global stock indices
• Cash contracts
• No commissions
• No expiry dates

Energies

Users can leverage funds against the price of Crude Oil and Natural Gas to try and take advantage of some of the most highly volatile instruments available on the market.

• Trade crude oil & natural gas
• WTI & Brent oil contracts
• Lot sizes in barrels & mmBtu
• Standardised margins

Accounts

The broker offers multiple account options that are tailored to meet the various individual trading objectives and capital of clients. The XG account types provide traders the ability to select the lowest cost trading model available according to their own strategy. With options to receive near zero spreads or commission free trading there is an account type suitable for everyone.

XG Raw Account

The XG Raw account offers clients the lowest possible spreads for strategies that demand it. Trade costs are commissions based, easy to understand and consistent across symbols. I think this account would be OK for scalping but I would have personally preferred spreads from 0.0 pips and a commission of around $7 per standard lot round turn at the maximum. If you are planning on using strategies that require the tightest spreads possible, IC Markets have spreads from 0.0 pips and a very competitive commission fee.

• Spread: From 0.2 pip
• Commission: $3.75 USD per side
• Execution: Market / IOC
• EA trading: Allowed
• Currencies: USD, EUR, GBP, CHF
• Min deposit: $100 USD equivalent

XG Zero Account

The XG Zero account offers clients a competitive spread with zero commissions. Keeping things simple for traders that prefer a standard account type. I think the difference in overall costs wouldn’t be that significant between this account type and the raw account type unless trading large volumes. Both should be good enough for most scalping strategies where I don’t think there is that great a difference if you are not looking for razor thin spreads. In that case, it would just come down to whether you want the commission included within the spread or separately.

• Spread: From 1.0 pip
• Commission: None
• Execution: Market / IOC
• EA trading: Allowed
• Currencies: USD, EUR, GBP, CHF
• Min deposit: $100 USD equivalent

XG Islamic Account

Each FX symbol is made up of two currency pairs, which both have underlying interest rates. Since these interest rates usually differ this results in a daily cost to roll-over open positions from one day to the next. As Sharia law forbids lending out money with interest, FX trading with roll-over or swap fees goes against this law. For this reason, XGLOBAL offers roll-over and swap free trading, which is in alignment with Islamic beliefs. The spread is slightly higher on this account type to cover for the lack of swap fees. But still, I think the condition are very competitive and inline with the industry standard.

• Spread: From 1.2 pip
• Swap free: For Islamic clients
• Execution: Market / IOC
• EA trading: Allowed
• Currencies: USD, EUR, GBP, CHF
• Min deposit: $100 USD equivalent

MAM Account

The XG MAM account is designed for money managers that wish to manage the trades of their client portfolio using an automated solution. MAM accounts help the trader to manage multiple trading accounts using a single terminal. MAM accounts make use of combining individual trader accounts into a large pool of managed funds that can comprise of individual trader accounts as well as investor accounts.

Demo Account

The broker also provides you with the option of a free demo account which can be a great way to try them out and practice your trading strategies risk free. Once you have built up enough confidence, you can consider switching over to a live account if the broker has suitable trading conditions according to your needs.

Corporate Account

Brokers, prop traders, businesses hedging currency risk or business owners simply wishing to invest surplus company money have all opened corporate accounts with XGLOBAL Markets. The XGLOBAL Corporate Account provides legal entities the ability to trade our full variety of instruments through MT5 with competitive trading conditions. Such conditions include tight spreads, no dealing desk execution and flexible leverage without any commissions or fees.

Professional Client Accounts

XGLOBAL offers trading conditions suitable for experienced traders such as 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. It is important to keep in mind that professional clients are not subject to the same leverage limitations as retail traders but some of the protection offered to retail clients is lost.

Support

The broker has a responsive and very helpful client support team that is available 24/5 during working hours (09:00 to 18:00 EET) and can be contacted through telephone, email, and social media. They can also be reached via live chat which I found to be the quickest way to speak with someone. It is good to see that the broker has responded to feedback online as it shows they are willing to listen to users and improve their services where required. I think they could improve by providing 24/7 support like some other brokers such as FP Markets.

Funding

XGLOBAL Markets have a good selection of payment options you can choose from. I like how there is a nice variety of digital wallets as I find this to be the most convenient way for me to move funds around between my trading accounts. Bank transfers can take a few business days to clear if you don’t mind waiting but I prefer quicker access to my funds in case there is some unexpected market news that I want to try and capitalise on. They don’t currently support crypto funding but Hugo’s Way do if that is something that you are specifically looking for. The broker accepts the following payment methods for account deposits and withdrawals:

• Credit/Debit cards
• Bank wire and internal transfers
• Online payment processors

Conclusion

Overall, XGLOBAL Markets is an established trading broker that provides you with the sophisticated MetaTrader 5 trading platform for trading multiple financial assets online. The platform is packed with all of the tools you need for analysing the markets, placing and managing trade across all of your devices. You can get access to competitive trading conditions with a variety of account types and funding options that cater for every trader. There are managed accounts for money managers and investors alike. Beginners have some educational materials whilst a customer support team is hand 24/5 to assist. Despite the positives, I think the broker could improve by adding the option of a zero spread account and implementing some third-party analytical tools such as Autochartist and Trading Central. You can get both of these through brokers such as GO Markets. If these limitations don’t bother you, there is a free demo account so you can give them a try before making a financial commitment.

Min $100 Deposit

XGLOBAL Markets is a provider of OTC derivatives for self-directed traders and also provides a portfolio management service. The broker aims to provide a safe, fair and transparent platform along with personal support to help clients meet their financial goals.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

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About the Author

Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.