XGLOBAL

General Information & Regulation

X Global FX, a trading name of XGLOBAL FX Ltd, presents itself as a provider of OTC derivatives for self-directed traders and also provides a portfolio management service. It is founded in 2012 and registered in Vanuatu with registration number 15062, claiming to provide its clients with 340 tradable products with leverage up to 500:1 and floating spreads from 0.2 pips on the MT5 for Windows PC, Mac OS X, iPhone, iPad, Android Phone and Android Tablet trading platforms, as well as a choice of four different account types and 24/5 customer support service. Here is the home page of this brokers official site:

As for regulation, X Global FX says it is regulated by VFSC (Vanuatu Financial Services Commission). However, it has been verified that it does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.42/10. Please be aware of the risk.

Market Instruments

X Global FX advertises that it offers access to 340 tradable products across 5 asset classes, covering forex, Bullion, indices and energies.

Account Types

X Global FX claims to offer four types of accounts, namely Trading Account, Islamic Account, Corporate Account and Demo Account (unlimited time). There is no minimum initial deposit amount requirement.

Leverage

The leverage provided by X Global FX is capped at 500:1. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

X Global FX claims that the clients on the Trading Account can experience spreads from 0.2 pips and a $7.5 commission.

Trading Platform Available

Platforms available for trading at X Global FX are MT5 for Windows PC, Mac OS X, iPhone, iPad, Android Phone and Android Tablet. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Trading Hours

The trading sessions do not have daily opening and closing times. X Global FXs website claims that each trader is welcome to trade forex 24 hours a day from 22:00 GMT on Sunday until Friday 21:59 GMT (there is an offset due to DST during certain times of the year).

Deposit & Withdrawal

From the logos shown at the foot of the home page on X Global FXs official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, consisting of Visa, Bank Wire Transfer, Neteller, Skrill, Sticpay and Fasapay. There is no minimum initial deposit amount requirement. E-wallet deposits are credited in real-time, while funds that come in by bank transfer are typically credited within 2 hours.

Customer Support

X Global FXs customer support can be reached by telephone: +44 203 0341433, email: clientsupport@xglobalfx.com. Registered office: First Floor, Icount Building, Kumul Highway, Port Vila, Efate.

Risk Warning

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.