Overview of XP BEE
XP BEE, established in 2023 and registered in Saint Vincent and the Grenadines, is an unregulated broker facilates in the forex and CFD trading industry. The broker offers Forex, Spot Metals, Cash Indices, Spot Energy, Crypto CFDs, Equities CFDs, and ETF CFDs. The broker uses the cTrader platform, which supports high-speed execution and a user-friendly interface. While it offers three account types, Standard, VIP, and Kas-Traders, XP BEE does not provide educational resources.
Pros and Cons
XP BEE features sophisticated liquidity networks, providing multiple asset classes. Clients could benefit from various deposit and withdrawal options. XP BEE also offers three distinct account types, along with raw spreads starting from 0 pips.
However, XP BEE is not regulated by any reputable financial authority. Additionally, there is a lack of transparency regarding the minimum deposit requirements. The brokers commission structure is complex, and there are limited educational resources available to assist traders in improving their skills. Furthermore, XP BEE does not offer phone support, which could be a disadvantage for clients who prefer direct communication for customer service.
Is XP BEE legit or a scam？
XP BEE lacks regulation from any recognized financial authority. The absence of regulatory oversight means that XP BEE does not adhere to established standards of financial security, transparency, and fair trading practices.
Market Instruments
XP BEE's offerings include:
Forex Liquidity: Direct market access to major Tier-1 FX liquidity venues, featuring 103 trading pairs with up to 1:100 leverage.
Spot Metals Liquidity: Deep liquidity on gold and other precious metals from top Tier-1 providers, offering 13 trading instruments with 1:100 leverage.
Cash Indices Liquidity: Access to global indices with tight spreads and 12 trading instruments at 1:50 leverage.
Spot Energy Liquidity: Deep liquidity and superior execution for energy markets, with 3 trading instruments at 1:50 leverage.
Crypto CFDs Liquidity: Extensive liquidity pool for 134 Crypto CFD pairs with 1:10 leverage.
Equities CFDs: Sophisticated liquidity network for 134 equity CFDs with 1:5 leverage.
ETF CFDs: Trading on 7 ETF CFDs with 1:5 leverage.
Account Types
XP BEE offers three distinct trading account types: Standard, VIP, and Kas-Traders.
The Standard Account is ideal for general traders and features commission rates such as $90 per million USD volume for Forex, $13 per lot for Spot Metals and Spot Energies, 0.45% for Crypto Currencies, and 0.65% for Shares (USA, EU, and Asia).
The VIP Account targets high-volume traders and professionals who require lower trading costs. It offers reduced commission rates, including $74 per million USD volume for Forex, $10 per lot for Spot Metals and Spot Energies, 0.35% for Crypto Currencies, and 0.60% for Shares (USA, EU, and Asia). The VIP Account also provides dynamic discounts based on trading volume, offering up to a 2% discount for trading volumes reaching $500 million USD.
The Kas-Traders Account is for active traders who seek competitive pricing and additional perks. It features commission rates of $85 per million USD volume for Forex, $10 per lot for Spot Metals and Spot Energies, 0.35% for Crypto Currencies, and 0.60% for Shares (USA, EU, and Asia). Similar to the VIP Account, it offers dynamic discounts for higher trading volumes.
How to Open an Account with XP BEE
Register
Visit the XP BEE website and click on the ‘Sign Up’ button. Choose your preferred account type (Standard, VIP, or Kas-Traders) and complete the secure application form with your personal details, including your full name, email address, phone number, and country of residence.
Verify
After submitting your registration form, use XP BEE's digital onboarding system for fast verification. You will need to provide identification documents such as a government-issued ID and proof of address.
Fund
Once your account is verified, fund your trading account using one of the available payment methods, including Visa, Mastercard, PayPal, Neteller, Skrill, or wire transfer. Choose the method that best suits your needs and preferences.
Trade
After funding your account, start trading on the XP BEE platform. Access over 2,100 instruments and take advantage of the brokers advanced trading tools and resources.
Leverage
XP BEE offers a maximum trading leverage of up to 1:100 for Forex and Spot Metals, 1:50 for Cash Indices and Spot Energy, 1:10 for Crypto CFDs, and 1:5 for Equities CFDs and ETF CFDs.
Spreads & Commissions
Standard Account: Traders using the Standard account face a commission of $90 per million USD volume for forex. Spot metals, energies, and indices incur a $13 per lot commission or per the quote currency. Cryptocurrency transactions attract a 0.45% commission, while shares and ETFs CFDs are charged at 0.65%.
VIP Account: The VIP account features lower commissions. Forex trading costs $74 per million USD volume, with spot metals, energies, and indices commissions reduced to $10 per lot or per the quote currency. The commission on cryptocurrencies is 0.35%, and shares and ETFs CFDs are at 0.60%. Dynamic discounts up to 2% are also available based on trading volume.
Kas-Traders Account: This account offers similar advantages to the VIP account, with forex commissions at $85 per million USD volume. The cost for trading spot metals, energies, and indices is $10 per lot or per the quote currency. Cryptocurrencies incur a 0.35% commission, and shares and ETFs CFDs are at 0.60%. Volume-based dynamic discounts are applicable as well.
XP BEEs spread structure varies with market conditions, offering raw spreads from 0.0 pips for high-frequency traders and scalpers.
Trading Platform
XP BEE provides its clients with the cTrader trading platform, which is crafted with a distinctive and refined user interface. This platform facilitates Raw Pricing trading, eliminating the need for dealing desks, and offers incredibly fast order execution, making it a preferred choice for discretionary Forex traders. The cTrader platform is accessible on multiple devices, including Windows, Android, Web Browser, MAC, and iOS.
Deposit & Withdrawal
XP BEE offers multiple payment methods for deposits and withdrawals, including Visa, Mastercard, PayPal, Neteller, Skrill, and wire transfer. The broker advertises that deposits are processed instantly and withdrawals are handled swiftly.
Customer Support
Address: Suite305, Griffith Corporate Centre, Beachmont, Kingstown
Email: support@xpbee.pro
Conclusion
XP BEE, an unregulated broker headquartered in Saint Vincent and the Grenadines, provides forex, spot metals, indices, energy, cryptocurrencies, equities, and ETFs. The broker benefits from advanced liquidity networks and various deposit and withdrawal methods. However, it is hampered by the absence of regulatory oversight, minimal educational resources, intricate commission structures, and the lack of phone support.
FAQs
Q: Is XP BEE a regulated broker？
A: No, XP BEE is not regulated by any recognized financial authority.
Q: What trading instruments can I trade with XP BEE？
A: XP BEE offers trading in forex, spot metals, cash indices, spot energy, cryptocurrency CFDs, equities CFDs, and ETF CFDs.
Q: What types of trading accounts are available at XP BEE？
A: XP BEE offers three types of accounts: Standard, VIP, and Kas-Traders.
Q: What is the maximum leverage available at XP BEE？
A: The maximum leverage offered by XP BEE is 1:100 for forex and spot metals, 1:50 for cash indices and spot energy, 1:10 for cryptocurrency CFDs, and 1:5 for equities CFDs and ETF CFDs.
Q: What are the available methods for deposit and withdrawal at XP BEE？
A: XP BEE supports Visa, Mastercard, PayPal, Neteller, Skrill, and wire transfer for deposits and withdrawals.
Q: Which trading platform does XP BEE offer？
A: XP BEE uses the cTrader platform, offering intuitive interface and rapid order execution.
Risk Warning
Online trading poses substantial risks, with the potential for complete loss of invested capital, rendering it unsuitable for all traders. It is imperative to comprehend the inherent risks and acknowledge that the information provided in this review is subject to change due to continuous updates in the company's services and policies.
Additionally, the review's generation date is a critical consideration, as information may have evolved since then. We strongly advise readers to verify updated details directly with the company before making any decisions, as the readers must be aware of and willing to accept the inherent risks involved in utilizing this information.
