- What is XGLOBAL Markets?
- XGLOBAL Markets Pros and Cons
- Is XGLOBAL Markets Safe or a Scam?
- Deposits and Withdrawals
- Trading Platform
- Customer Support
Our Review Method
- 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, regulations and licenses, fees, spreads, platforms, customer service, and placed traders to see trading conditions and give expert opinions about XGLOBAL Markets.
What is XGLOBAL Markets?
XGLOBAL Markets is a European Forex and CFD trading broker offering a wide range of FX, Precious Metals, Equity Indices, Energies, Commodities, and Shares. In addition, the firm provides OTC derivatives for self-directed traders, as well as a portfolio management service.
Based on Limassol, Cyprus, as we found, the broker is fully licensed by the Europen Cyprus Securities and Exchange Commission (CySEC) and in accordance with Law 144(1)/2007 is a member of the Investor Compensation Fund (ICF). The company also carries an international Vanuatu Financial Services Commission (VFSC) license as a Dealer in Securities so is available for clients almost from everywhere. Yet, The international entity does not offer its services to residents of the USA, Syria, Iran, and North Korea.
XGLOBAL Markets Pros and Cons
We found the broker provides secure and reliable trading services through the industry’s popular MT5 platform, offering a good variety of market instruments with tight spreads and no commission fees. Additionally, the broker offers a wide choice of account types for beginners, professionals, corporate clients, as well as for traders who accept Sharia law, so is quite a balanced offering overall.
For the cons, the trading conditions and regulations may vary depending on the entity, also international regulations is much lower, and there is no 24/7 customer support.
|CySEC-regulated broker with competitive trading conditions||Conditions might vary based on the entity|
|Available for European and international traders||No 24/7 customer support|
|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|
XGLOBAL Markets Review Summary in 10 Points
|🗺️ Regulation||CySEC, VFSC|
|📉 Instruments|| Forex, CFDs, Precious Metals, Equity Indices, Energies, Commodities, Shares|
|💰 EUR/USD Spread||0.2 pips|
|🎮 Demo Account||Available|
|💳 Minimum Deposit||$100|
|💰 Base Currencies||EUR, USD, GBP, CHF|
|☎ Customer Support||24/5|
Overall XGLOBAL Markets Ranking
Based on our research the broker provides good secure trading conditions with competitive spreads and commission-free trading fees.
- XGLOBAL Markets Overall Ranking is 8.5 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
|Advantages||Spreads||Trading Fees||Trading Conditions|
XGLOBAL Markets Alternative Brokers
While the brokerage firm provides advanced trading solutions at competitive prices, there are other brokers in the market who offer comparable services. Therefore, we have conducted a thorough analysis and compiled a list of the top competitors that you can consider:
- Deriv – Tight Spreads
- ATFX – Wide Range of Trading Instruments
- Accuindex – Competitive Trading Conditions
According to our findings, the brokerage company has been recognized several times by international investors for its reliable trading services and financial technology over the past few years. This is a good point since Broker is taking care of its reputation so is multiply verified by various institutions.
Is XGLOBAL Markets Safe or Scam?
No, XGLOBAL Markets is not a scam. The brokerage company is trustworthy and adheres to strict rules and guidelines set by CySEC (Cyprus), a European regulatory body that oversees the broker’s operations so is considered safe.
Is XGLOBAL Markets Legit?
Yes, XGLOBAL Markets is a legit and regulated broker.
The strict regulatory requirements enhance the safety and confidence of traders who choose to trade with the brokerage firm.
See our conclusion on XGLOBAL Markets Reliability:
- Our Ranked XGLOBAL Markets Trust Score is 8.5 out of 10 for the good reputation and services provided. However, trading services are available via the offshore entity as well.
|XGLOBAL Markets Strong Points||XGLOBAL Markets Weak Points|
|Negative balance protection based on accounts types||Regulatory standards and protection vary based on the entity|
|Compensation Fund protection based on accounts types|
|Access to financial ombudsman|
How Are You Protected?
As a regulated broker, the company is committed to safeguarding its clients’ funds by separating them from the firm’s accounts and not utilizing them for operational purposes. We also discovered that the firm offers several protective measures, such as negative balance protection during times of market volatility or unforeseen events, as well as investor compensation fund protection and access to the financial ombudsman, which further enhances the safety of traders’ accounts.
Leverage is a useful tool that allows traders to access the market with less capital, but it also has the potential to result in significant profits or losses depending on its usage. Therefore, it is essential to have a thorough understanding of how leverage operates and its potential consequences before engaging in trading activities that involve leverage.
XGLOBAL Markets leverage is offered according to CySEC and VFSC regulations:
- European traders are eligible to use a maximum of up to 1:30 for major currency pairs.
- International entity clients can use leverage up to 1:200 for professional trading.
Based on our Broker analysis traders can choose from three different account types when selecting XGLOBAL Markets as their trading broker: XG RAW, XG ZERO, and XG ISLAMIC, each offering unique trading options. In addition, professional and corporate clients can access specialized accounts, so might suit different trading needs.
Furthermore, new traders have the opportunity to use a Demo account at no cost, allowing them to practice trading and make trial trades.
|Fast and easy account opening||None|
|Islamic and Demo accounts |
|Account base currencies USD, EUR, GBP, CHF|
|Hedging and Scalping |
How to Open XGLOBAL Markets Live Account?
Opening an account with a broker is quite easy. You should follow the opening account or sign-in page and proceed with the guided steps:
- Select and Click on the “Open an Account” page
- Enter the required personal data (Name, email, phone number, etc.)
- Verify your personal data by upload of documentation (residential proof, ID, etc.)
- Complete the electronic quiz confirming your trading experience
- Once your account is activated and proven, follow with the money deposit.
On our test trade, XGLOBAL Markets offers a diverse range of trading instruments, including Forex, CFDs, Precious Metals, Equity Indices, Energies, Commodities, and Shares. International entity’s clients can also access leverage up to 1:200 on the international entity, which can potentially increase profits while managing risks effectively.
- XGLOBAL Markets Markets Range Score is 8.5 out of 10 for wide trading instrument selection. On the other hand, many popular asset classes, such as futures and bonds are not available to trade.
XGLOBAL Markets Fees
For the fees, XGlobal offers commission-free trading and does not charge any fees for deposits or withdrawals, thus providing traders with a cost-effective solution.
However, we discovered that the broker does enforce an inactivity fee for accounts that remain inactive for more than 12 months.
- XGLOBAL Markets Fees are ranked low with an overall rating of 8.5 out of 10 based on our testing and compared to over 500 other brokers.
|Fees||XGLOBAL Markets Fees||Deriv Fees||ATFX Fees|
As per our research, traders can choose tight and floating spreads for their XGLOBAL Markets trading accounts, with an average spread of 0.2 pips available for the popular EUR/USD currency pair in Forex trading, which is lower than the industry average and is definitely a good point.
Moreover, the broker provides competitive spreads for other trading instruments, making it an attractive option for traders operating in various markets.
- XGLOBAL Markets Spreads are ranked low with an overall rating of 8.9 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average and spreads for other instruments are competitive too.
|Asset/ Pair||XGLOBAL Markets Spread||Deriv Spread||ATFX Spread|
|EUR USD Spread||0.2 pips||0.1 pips||1.8 pips|
|Crude Oil WTI Spread||0.035||3||3|
Deposits and Withdrawals
Traders have a wide range of deposit and withdrawal options available, including bank transfers, credit/debit cards, e-wallets, and internal transfers for money transfers to or from their trading accounts. However, it is essential to keep in mind that each funding method might have specific requirements and limitations depending on the involved financial institutions, also the country you reside in, and the entity of the XGlobal you trade through.
- XGLOBAL Markets Funding Methods we ranked good with an overall rating of 8.9 out of 10. Fees are low, and also you can benefit from various account-based currencies.
Here are some good and negative points for XGLOBAL Markets funding methods found:
|XGLOBAL Markets Advantage||XGLOBAL Markets Disadvantage|
|Fast digital deposits||Methods and fees might vary in each entity|
|No deposit and withdrawal fees|
|Multiple account base currencies|
In terms of funding methods, XGLOBAL Markets offers the following payment methods:
- Bank Wire,
- Credit/Debit cards,
- Neteller, etc.
XGLOBAL Markets Minimum Deposit
To open a live trading account with the broker, you need to deposit $100 as an initial deposit amount, which is considered a very good offering overall.
XGLOBAL Markets minimum deposit vs other brokers
||Most Other Brokers
XGLOBAL Markets Withdrawals
The broker states that traders can easily and swiftly withdraw their funds, as withdrawals are processed on the same business day during operating hours.
How Withdraw Money from XGLOBAL Markets Step by Step:
- Login to your account
- Select Withdraw Funds’ in the menu tab
- Enter the withdrawn amount
- Choose the withdrawal method
- Complete the electronic request with necessary requirements
- Confirm withdrawal information and Submit
- Check the current status of withdrawal through your Dashboard
XGLOBAL Markets offers MetaTrader 5 trading platform to its clients, which is a popular and widely used platform in the financial markets. MT5 is known for its advanced charting capabilities, technical analysis tools, and customizable interface, making it an ideal platform for both novice and experienced traders.
Our research also revealed that the platform is available for download on various devices, including Desktop, Web, macOS, Android, and iOS, ensuring traders to can access their trading accounts from anywhere and at any time.
Traders have access to advanced charting capabilities, with multiple chart types, timeframes, and technical indicators to assist with market analysis. The platform also provides a built-in economic calendar, which shows scheduled events and news releases that could affect the markets, allowing traders to plan their trades accordingly. Traders can also copy trade from other traders, or create and share their own trading signals with the community.
Additionally, the MT5 platform allows for automated trading with the use of Expert Advisors (EAs) and algorithmic trading, making it an excellent option for traders who prefer a more hands-off approach to trading.
- XGLOBAL Markets Platform is ranked good with an overall rating of 8.5 out of 10 compared to over 500 other brokers. We mark it as good since it offers the popular MT5 professional trading platform.
|Platforms||XGLOBAL Markets Platforms||Deriv Platfroms||ATFX Platforms|
Traders have access to 24/5 customer support through the Phone line, Fax, and Email at XGLOBAL Markets. Also, the support team comprises trading experts who can provide assistance with technical issues, analysis recommendations, general inquiries, and operational problems.
- Customer Support in XGLOBAL Markets is ranked good with an overall rating of 7.9 out of 10 based on our testing. We got fast and knowledgeable responses, and also easy to reach during the working days.
See our find and ranking on Customer Service Quality:
|Availability of phone, fax, and email||No 24/7 customer support|
|Quick responses||No live chat|
XGLOBAL Markets Education
Lastly, you can access the broker’s “Learn Center” section on the website, covering a wide range of topics such as Forex trading, technical analysis, fundamental analysis, and trading psychology. However, we discovered during our research that the broker does not offer seminars, webinars, or research materials to its clients so might be good to consider other Brokers who offer better education.
- XGLOBAL Markets Education ranked with an overall rating of 6.9 out of 10 based on our research. For beginner traders, we recommend getting the necessary learning materials from other well-known brokers.
XGLOBAL Markets Review Conclusion
In conclusion, XGLOBAL Markets offers quite competitive trading conditions, with access to a range of instruments across various markets. With the use of the MT5 trading platform, there are many trading tools and features available to enhance the trading experience. The broker also provides various account types suitable for different trading styles, including a free Demo account for new traders to practice and improve their skills.
Additionally, traders can enjoy commission-free trading and a variety of funding options for easy and fast deposits and withdrawals. While we note the broker does not offer comprehensive educational resources, its customer support team provides 24/5 assistance to traders with their inquiries and issues.
Overall, XGLOBAL Markets is a reliable and cost-effective option for traders looking for a regulated broker to execute their trades. However, we advise conducting extensive research before choosing XGLOBAL Markets as a trading broker to ensure that it meets your trading needs.
Based on Our findings and Financial Expert Opinions XGLOBAL Markets is Good for:
- Traders from Europe
- International traders
- Traders who prefer the MT5 trading platform
- CFD and currency trading
- Advanced traders
- Islamic traders
- Scalping/Hedging strategies
- STP/NDD execution
- Competitive spreads and prices
- EA/Auto trading
- Good trading tools
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