- Company: XGLOBAL Markets is the trading name of X Global Markets Ltd.
- Founded: 2012
- Payment Options: Credit & Debit Cards, Neteller, Skrill (Moneybookers) and Wire Transfer.
- Platform(s): MetaTrader 4, MT4 Mobile and other Smartphone trading support.
- Accounts Available In: EUR and USD.
- Minimum Deposit: $1
- Regulation: Regulated by CySEC of Cyprus.
- Social Trading: N/A.
- Support Options: Phone, Email, Skype and Contact Form.
At the centre of the offering from the brokerage is the ever popular MetaTrader 4 platform which remains massively popular despite the recent release of the MetaTrader 5 platform. The MT4 platform from X Global functions just as one would expect and allows traders to use Expert Advisors to automatically trade the various markets offered by the brokerage. The MetaTrader 4 platform is available in PC, MAC and Mobile versions ensuring that traders can use the trading platform on every major operating system. Those who are not fans of the MetaTrader 4 platform will not pleased to know that currently the brokerage only offers the MetaQuotes platform to their users, with their being no alternatives on offer. This is likely to put off those who are strongly anti the popular MetaQuotes platform.
- Leverage: Up to 200:1 on FX pairings and up to 100:1 on Precious Metals.
- Scalping: Allowed without limitations.
- Expert Advisors: Allowed without limitations.
- Trailing Stops: Yes.
- Spreads: Variable, EUR/USD from 0.8 pips. Typical Spread 1.2 pips.
Xglobal Markets are pure STP brokerage, meaning that client orders are passed straight onto one of the brokerages liquidity partners. Brokerages operating such a model are popular with traders as this execution model avoids the conflict of interest which plagues brokerages which operate a dealing desk. At the time of writing XGLOBAL Markets liquidity providers are Alpari UK and Accurate Investment Brokerages S.A.L, but I believe those at the firm are looking into adding additionally liquidity providers in their continuing effort to improve spreads and execution. The spreads on offer are very competitive and can often be as good or better than the spreads offered by other well known STP brokerages. Additionally, as a pure STP brokerage the firm places no limitations on trading strategies and allows traders to use Expert Advisors without limitations. The trading conditions on offer at XGLOBAL Markets are pretty competitive, with the brokerage comparing favourably to many other popular brokerages.
- Number of Currency Pairings: 40 Currency Pairings (6 exotic pairings).
- Other Instruments: Precious Metals.
The focus of XGLOBAL Markets is placed squarely on FX trading with the brokerage offering a total 40 different currency pairings. This range of pairings is quite extensive and will be more than enough to satisfy the average retail trader who primarily focuses on trading major pairings. Those who want to trade a more complete range of Minor and Exotic pairings may be better off looking at brokerages who offer a wider range of currency pairings. In addition to FX, the brokerage also offers clients the ability to trade Gold and Silver which will be of interest to many currency traders. XGLOBAL Markets will likely appeal to those who are primarily interested in trading currencies, those looking for a venue where they can trade a wide range of instruments from one place will better served by looking elsewhere.
- Contact Methods: Phone, Email, Skype and Contact Form.
- Telephone Numbers: Cypriot Phone Number
- Support Languages: Arabic, French, English and Greek.
The customer service team at the brokerage do a good job at resolving problems and queries from clients and I haven’t come across any complaints regarding the quality of customer service provided by X Global. The only drawbacks to the brokerages customer service is that customer support is currently not available 24/5 which means queries made by those in certain time zones may take a while to be resolved/answered. Customer support is available in a number of major international languages including English, French and Arabic. Those who are not conversant in these languages may want to consider opting for a brokerage who can provide support in their native tongue.
- Regulated: Yes, regulated by CySEC of Cyprus.
- MiFID Regulated: Yes, XGLOBAL Markets are able to accept clients from throughout the European Union.
- US Traders: No, Xglobal Markets cannot accept US based traders.
- Regulatory Record: The brokerage has a totally clean regulatory record since it launched back in 2012, having neither been on the receiving end of any disciplinary action.
XGLOBAL Markets is the trading name of X Global Markets Ltd, who are based and regulated in Cyprus. The firms has been regulated since its inception back in 2012, and has never been on the receiving end of any disciplinary action. Additionally, being regulated in an European Economic Area country allows the brokerage to take on clients from throughout the EU and the wider European Economic Area. Despite this some trader’s are uneasy with opening account with a brokerage based on the island with many seeing CySEC as a light touch regulator. Those trading with a brokerage in the island will still receive at least the minimum regulatory protection as outlined in the Markets in Financial Instruments Directive (MiFID).
Xglobal Markets may be a good choice for those looking for a 100% STP brokerage, the firm is continuing to add to it’s list of liquidity providers and is relatively competitive in terms of spreads and execution. Those who want to trade a wide range of instruments with one brokerage may better served looking elsewhere with Xglobal Markets currently only supporting a limited range of non FX trading instruments.
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