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Score
Lithuania
5-10 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
Influence
Add brokers
Comparison
Quantity 1
Exposure
Score
Regulatory Index0.00
Business Index7.22
Risk Management Index0.00
Software Index4.00
License Index0.00
No valid regulatory information, please be aware of the risk
Single Core
1G
40G
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Company Name
BrokerXP
Company Abbreviation
BrokerXP
Platform registered country and region
Lithuania
Company website
Company summary
Pyramid scheme complaint
Expose
General Information & Regulation
BrokerXP, owned and operated by Mergers and Acquisitions Consultancy LP, based in Edinburgh, is an online Forex and CFD broker not currently subject to any active regulation.
Market Instruments
BrokerXP offers investors a wide range of CFDs, including CFDs on indices, commodities, stocks, and a range of cryptocurrencies, in addition to a large selection of Forex currency pairs.
Minimum Deposit
BrokerXP only offers investors a standard account , with a minimum deposit of $500. BrokerXP requires $500 as a start, apparently higher than many other brokers, as they only requires $100-$200 to open an account.
BrokerXP Leverage
In terms of forex trading, the maximum leverage level offered by BrokerXP is up to 1:200. Since margin trading is full of risk, so inexperienced traders are not advised to use too high trading leverage.
Spreads & Commissions
The EURUSD spread on BrokerXP's standard account is fixed at 3 pips, much higher than the industry standard. Most regular dealers offer spreads between 1.1 and 1.5 pips on EURUSD.
Trading Platforms
BrokerXP offers investors the most popular trading platform available today, MT4, the leader in Forex trading, with powerful charting tools, a large number of custom indicators, supporting for automated trading, and EA trading for traders of all levels.
Deposit & Withdrawal
BrokerXP supports traders via credit/debit cards, while other information on deposit and withdrawal methods is not fully disclosed.
BrokerXP Pros & Cons
Brokerxp advantages Inlcude:
1. Islamic accounts Available
2. A wealth of educational resources
Brokerxp disadvantages Include:
1. Offshore brokerage & no regulation
2. High minimum deposit requirements for accounts
3. High spreads
4. Demo accounts not offered on MT4
5. A large number of negative comments
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