XXLMARKETS Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-23 17:51

Abstract：XXLMARKETS was founded in the United Kingdom in 2021. It offers various trading assets, like forex, stocks, CFDs, indices, and commodities. Besides, the maximum leverage is up to 1:500. However, the high spread starts from 2.3 pips. And it is not regulated.

　　Note: XXLMARKETS' official website: https://xxlmarkets.com/ is currently inaccessible normally.

XXLMARKETSReview Summary
Founded	2021
Registered Country/Region	United Kingdom
Regulation	Not regulated
Market Instruments	forex, stocks, CFDs, indices, and commodities
Demo Account	/
Leverage	Up to 1:500
Spread	From 2.3 pips (Bronze account)
Trading Platform	MT4, Web Trader, Tablet Trader, Mobile Trader
Min Deposit	$500
Customer Support	Contact form
	Phone: +44 7441427348
	Email: support@xxlmarkets.com

　　XXLMARKETS was founded in the United Kingdom in 2021. It offers various trading assets, like forex, stocks, CFDs, indices, and commodities with leverage up to 1:500 and spread from 0pips. However, it currently has no any valid regulations.

Pros and Cons

Pros	Cons
Various trading assets	Not regulated
Popular trading platform MT4	Wide spread
	High minimum deposit
	Lack of transparency

Is XXLMARKETS Legit?

　　XXLMARKETS is not regulated by any financial authorities, even the local FCA shows no results about it. It means traders have the risks of being cheated. Traders should be alerted when trading.

What Can I Trade on XXLMARKETS?

Tradable Instruments	Supported
Forex	✔
Stocks	✔
CFDs	✔
Indices	✔
Commodities	✔
Options	❌
ETFs	❌

Account Type

　　XXLMARKETS provides three account types: Bronze, Silver and Golden.

Account Type	Minimum Deposit
Golden	$25000
Silver	$10000
Bronze	$500

Leverage

　　The leverage of XXLMARKETS is up to 1:500. High leverage always comes with high profits and high losses.

Spreads and Commissions

　　The spreads of XXLMARKETS are the same in the Bronze account and Silver account starting from 2.3 pips, and commissions are free for these two accounts. But the spread on the Golden account starts from 0.0 pips, and requires a commission of 1.2 pips per closed lot.

Other Fees

　　The only fee specified in the Customer Agreement is that for an inactive account – 60 USD per month.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Desktop, Mobile and Web	Beginners
Web Trader	✔	Web	Experienced traders
Mobile Trader	✔	iPhone and Android
Tablet Trader	✔	Web

Deposit and Withdrawal

　　XXL Markets claims it can be pay through VISA, Mastercard, Web Money and Skrill, but in reality the only payment options appear to be bitcoins, bank wire transfers, and some obscure payment provider called Virtual Pay.