History and Origin
Established in 2012, XGlobalMarkets came into existence as a service provider for reliable and clear trading spheres among its specialized segment in forex and CFD trading that also adds to a wide array of financial instruments and technologically advanced trading platforms for all traders in each corner of the globe.
Mission and Vision
Emerging as a much trustworthy name in the whole world, XGlobalMarkets is on a quest to proliferate into the various people around the globe with their top-of-the-range tools and the most competitive conditions, all packed up in an altogether very personalized manner by introducing healthy and long-lasting ties with its customers.
Global Presence
XGlobalMarkets indeed has brazenly set its headquarters in Cyprus and takes pride in serving clients from everywhere residing according to the regulatory requirements. Through the broker, multilingual support and services are offered by keeping clinics localized for a reason—to cater to most of its diversified clientele.
Pros and Cons
High Points:
- CySEC-regulated broker with competitive trading conditions
- Available for European and international traders
- MT5 trading platform
- Commission-free trading with competitive and tight spreads
- Range of trading instruments
- Member of Investor Compensation Fund
- Wide choice of account types
Negative Points:
- Conditions might vary based on the entity
- No 24/7 customer support
Security and Regulations
Licenses Obtained
Due to the Cyprus Security and Exchange Commission (CySEC) supervising the validity of the financial European Union's demands, there has been compliance in providing an adequately safe trading environment.
Segregation and Insurance of Funds
Customer funds are placed in segregated client accounts with premier banking institutions, covered under the Investor Compensation Fund (ICF) with €20,000 per account covered as protection should any situation suddenly happen to the broker.
Tradeables
FOREX Pairs
Trade more than 70 forex pairs carrying various currencies, specifically majors, crosses, with exotic currency pairs having tight spreads and high liquidity.
Commodities
Buy/sell gold, silver, crude oil, and natural gas product diversification in a small portfolio.
Indices
Whereas major global indices are traded as CFDs, their tight spreads and best execution prove them valuable, such as the NASDAQ, the S&P 500, the FTSE 100, and the DAX, among others.
Cryptocurrencies
This broker offers a portion of its exchange transactions using the major trading coins: Bitcoin, Ethereum, Ripple, and Litecoin.
Stocks
Right from the start, trade CFDs on stock from world-leading companies even provide opportunities of taking either long or short positions.
Types of Accounts
Zero
| Minimum deposit | 0 |
|---|---|
| Commission | 1.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 500:1 |
Raw
| Minimum deposit | 0 |
|---|---|
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 500:1 |
Fees and Charges
Spreads and Commissions
Beginner traders can start opening a Standard Account for $100 or more, nothing to $10,000. A commission-free environment is promoted with 1.1-pip spreads on a Standard Account. For Pro Accounts, raw spreads on trading start at 0.0 pips with another $5 commission per one Lot traded.
Swap Rates
XGlobal Markets does charge overnight swap fees for positions left open overnight; details of these are freely available in business terms on the trading platform. All swap rates are 0 for Islamic accounts.
Inactivity Fees
After three months of inactivity, dealers shall pay inactivity fees in accords set in the terms and conditions broker initially uses.
Trading Platforms
| Available tools | Forex, Stocks, Indices, Metals, Energy, Cryptocurrency, CFDs |
|---|---|
| Cryptocurrencies | BTC, ETH, LTC, XRP |
| CFD | Forex: 42 Stocks: 273 Indices: 13 Metals: 2 Energy: 3 Cryptocurrency: 4 |
MetaTrader 4
MT4 allows for the smooth functioning of the charting with advanced indicators as well as the system of auto transactions.
MetaTrader 5
MT5 is the newer version and boasts all the functionality of the previous version but has increased the diversity of timeframes, indicators, and types of instruments.
Mobile Trading Apps
On the run, mobile apps allow traders to manage their accounts and let them take up positions while watching the markets.