XGLOBAL Markets Review
Rana Adnan | September 11, 2020
Table of Contents
XGLOBAL Markets is a retail trading broker that offers more than 77 financial instruments across five asset classes, including forex, metals, energies, commodities, and indices for trading on the sophisticated MetaTrader 5 trading platform. They offer multiple account options with a required minimum deposit of $500.
Broker Pros / Cons
- Regulated brokerage firm
- Sophisticated MetaTrader 5 trading platforms
- Educational resources
- Multiple tradable assets
- No MetaTrader 4 trading platforms
- No standalone trading tools
- No USA clients
- Not the tightest spreads
- Not the lowest commissions
- No online chat support
- Minimum $500 deposit
Summary
Based in Limassol, Cyprus, XGLOBAL Markets is a regulated online forex and CFD that gives traders access to multiple tradable assets using the MetaTrader 5 trading platform. They provide traders with educational resources and a client support team. Clients also benefit from other favorable trading conditions, such as multiple account options with spreads starting from 0.4 pips with flexible leverage of up to 1:200.
Regulation
XGLOBAL Markets is a trading name of X GLOBAL Markets Limited, which is a European Investment Firm that is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) and is a holder of CIF license 171/12. The firm is registered in the Republic of Cyprus under the company name HE 291958.
The broker permits traders from different parts of the world to open a trading account with them if their countries of residence permit online trading with international brokers.
Platforms
MetaTrader 5
The broker provides traders with the popular and sophisticated MetaTrader 5 trading platform. It was developed in 2010 by the Russian 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 a mobile app for Android and iOS devices. The mobile app can be downloaded from the relevant app stores and used to trade on the go.
XGLOBAL Markets Trading Platform
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.
Education
The ‘Learn’ section of the broker’s website has a selection of educational resources that can improve traders’ knowledge about the financial markets. The available resources include Beginner Courses on Forex trading, Japanese Candlesticks, Technical Indicators, Money Management, and more.
Markets
XGLOBAL Markets offers over 77 trading instruments across 5 asset classes, including forex, metals, commodities, indices, and energies, for trading online.
Accounts
The broker offers multiple account options that are tailored to meet the various individual trading objectives and capital of clients. The account types include Raw Spread, Swap Free, Corporate, and Professional Accounts. Demo accounts are also provided for practice purposes.
Support
The broker has a 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.
Funding
XGLOBAL Markets accepts the following payment methods for account deposits and withdrawals:
- Credit/Debit cards, including Visa and MasterCard
- Bank wire and Internal transfers
- E-Wallets, such as Skrill, Neteller, and more.
XGLOBAL Markets Deposit & withdrawal methods
Signup
Traders can open a live trading account by clicking on the ‘Open An Account’ tab at the top of the broker’s website. Then proceed to fill out the displayed form and submit.
XGLOBAL Markets Account Opening Page
Compare
| Broker Features | AvaTrade | IG | IC Markets | |
|---|---|---|---|---|
| Founded | 2006 | 1974 | 2007 | |
| Regulated | ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA | FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF | ASIC, CySEC, FSA, SCB | |
| Country | Australia, Ireland, South Africa, Japan, British Virgin Islands | Australia, UK, USA, Switzerland, UAE, Singapore, Japan | Australia, Seychelles, Bahamas, Cyprus | |
| Min. Deposit | Min $250 Deposit | Min $100 Deposit | Min $200 Deposit | |
| Commission | From $0 | From $0 | From $0 | |
| Spreads | Fixed | Variable | Variable | |
| Leverage | 1:400 | 1:200 | 1:500 | |
| Instruments | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs | Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs | |
| Platforms | MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile | MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile | MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile | |
| Type | Market Maker, STP | STP, ECN, DMA | ECN | |
| Funding | Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill | Wire Transfer, Credit/Debit Cards, PayPal | Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli | |
| Visit Broker | Visit Broker | Visit Broker | Visit Broker |
Conclusion
Overall, XGLOBAL Markets is a Cyprus based trading broker that provides traders with the sophisticated MetaTrader 5 trading platform for trading multiple financial assets online. Traders get access to educational materials and a customer support team. There are multiple account options with a required minimum deposit of $500.
Min $500 Deposit
XGLOBAL Markets is a retail trading broker that offers more than 77 financial instruments across five asset classes, including Forex, Metals, Energies, Commodities & Indices.
About the Author
Rana Adnan
I am an introverted long-distance runner and a Forex trader with more than 7 years of experience. Reminiscences of a stock operator was the first book that changed the whole concept of trading for me.
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