XForex was established in Cyprus in 2003, and is now operating internationally in countries such as Australia. Our team did thorough research of this broker, and can say that the overall working of trading conditions on offer are on par with the other brokers on the market. We were notably happy with the platform and other features. Make sure you read the following review to learn more about this broker.
- Founded in:
- Limassol, Cyprus and Sydney, Australia
- The Owner:
- OCM Online Capital Markets Ltd
- MiFID, ACIIF
- +357 250 22788, +61 280 37 29 97
- Minimum Lot Size:
- Maximum Leverage:
- 1: 400
- Minimum Deposit:
- Minimum Trade Amount:
- Maximum PerTrade:
- Languages available:
- English, French, German, Italian, Japanese, Russian, Spanish, Swedish Turkish
XForex’s trading platform is highly user friendly, allowing you to trade numerous underlying assets in an online environment. There are a number of different order types you can choose from, including trailing stops, market orders, stops orders and limit orders.
The spreads for the better known currency pairs start from 2 pips, and for the more exotic currencies this can rise to as high as 30 pips. There is the ever so important hedging feature with this trading platform, enabling you to simultaneously have a buy and sell order open on the same asset.
The charting is not the most advanced that we’ve experienced used, but it allows for easy trading. There is a special feature on the trading platform which you use to view the current trades of the top 10 traders. In addition, you can obtain reports of your trading via the Top Traders link. There is also a mobile trading feature, so you can keep up with the latest market developments. The platform is commonly used by traders who trade on the news.
There are a number of important features which XForex offers to its customer base. There is an economic calendar and daily market update. There is also an Islamic trading account available on request, which offers swap free trading. You may also choose from the typical mini and standard forex trading accounts we would expect from an international broker.
The minimum deposit to trade with this broker is $100 and the leverage is up to 1:400. You can trade in a 24/7 environment with a guaranteed stop-loss and secure online payments. The immediate trading execution is an impressive feature that this broker has to offer its traders.
The customer support may be contacted through phone, email and live chat. We contacted the live chat several times and received a response very quickly. The phone support was even better, and the representative answered each question clearly and fully. What made us happy was they explained to us the features of the free demo account. Therefore, we can say that we give XForex top marks for its support quality.
You can register with XForex simply, and you may deposit funds via credit card, bank wire and other leading methods. There are a variety of welcome bonuses on offer for new traders. The tutorial enables experienced traders and beginners to quickly get started at XForex. For additional questions, it is recommended you call the support team.
Personal training is an added feature to beginners which helps them get into forex trading. The welcome bonus offered to clients makes the trading process an enjoyable experience. The trading reports, demo accounts and trading videos are tools worth using to your advantage.
XForex is just above average when comparing them to the other forex brokers we have reviewed. The web-based trading platform is easy to use, but it does not have the most distinguishable features. The support is of a high quality, but more is needed to make XForex a top forex broker. If they decide to offer clients more trading platforms and trading products in the future, these features could add a lot to XForex’s credentials.