https://www.xglobalmarkets.com/
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+357 25 262002
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X GLOBAL Markets Ltd.
XGLOBAL
Cyprus
Pyramid scheme complaint
Expose
A Visit to XGLOBAL in Cyprus - Office Found
The investigators went to Limassol, Cyprus to visit forex broker XGLOBAL as scheduled, and spotted the company’s name at the regulatory address. It suggests that the broker has a physical business office at the location. Meanwhile, investors are advised to make a sensible choice based on an overall consideration.
A Visit to XGLOBAL in Cyprus -- Office Confirmed Existed
The survey team’s site visit confirmed that at the address shown in the regulatory information there is the office place of the broker XGLOBAL. And it is speculated that the business scale of broker is fairly large. Thorough consideration is suggested for making any choice.
A Visit to XGLOBAL in Cyprus - Office Found
The investigators went to Limassol, Cyprus to visit forex broker XGLOBAL as scheduled, and spotted the company’s name at the regulatory address. It suggests that the broker has a physical business office at the location. Meanwhile, investors are advised to make a sensible choice based on an overall consideration.
A Visit to XGLOBAL in Cyprus -- Office Confirmed Existed
The survey team’s site visit confirmed that at the address shown in the regulatory information there is the office place of the broker XGLOBAL. And it is speculated that the business scale of broker is fairly large. Thorough consideration is suggested for making any choice.
Benchmark | -- |
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Maximum Leverage | -- |
Minimum Deposit | $100 |
Minimum Spread | 1.0 |
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Minimum Position | -- |
Supported EA | |
Depositing Method | -- |
Withdrawal Method | -- |
Commission | -- |
Benchmark | -- |
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Maximum Leverage | -- |
Minimum Deposit | $100 |
Minimum Spread | 0.2 |
Products | -- |
Currency | -- |
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Minimum Position | -- |
Supported EA | |
Depositing Method | -- |
Withdrawal Method | -- |
Commission | $3.75/side |
Capital
$(USD)
Note: XGLOBALs official site - https://www.xglobalmarkets.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant 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.
General Information & Regulation
Feature | Detail |
Registered Country/Region | Cyprus |
Found | 2012 |
Regulation | CYSEC & BaFin |
Market Instrument | forex, CFDs, precious metals, energy, indices, cryptocurrencies, etc |
Account Type | XG RAW, XG STANDARD and XG ISLAMIC |
Demo Account | N/A |
Maximum Leverage | 1:200 |
Spread (EUR/USD) | From 0.2 pips |
Commission | XG STANDARD: no; XG RAW: $7.50 per lot |
Trading Platform | MT4, MT5 |
Minimum Deposit | $100 |
Deposit & Withdrawal Method | debit/credit cards, bank wire transfers, e-wallets and internal transfers |
XGLOBAL, a trading name of XGLOBAL Markets Ltd, is an online broker registered in Cyprus and founded in 2012, offering Forex and CFD trading mainly through the MT4 and MT5 platforms.
XGLOBAL is regulated by the Cyprus Securities and Exchange Commission (CySEC) (License No. 171/12) and is also registered with the UK Financial Conduct Authority (FCA) (Registration No. 602404), plus German Federal Financial Supervisory Authority (BaFin) (BaFIN ID 132843). Also, as a European investment firm, XGLOBAL' legal infrastructure and operational policies are in compliance with the MiFID II Directive.
Note: The screenshot date is January 30, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
XGLOBAL offers investors a wide range of financial instruments, including forex, CFDs, precious metals, energy, indices, cryptocurrencies, etc.
Account Types
XGLOBAL has three account types for investors to choose from, namely, the XG RAW account, the XG STANDARD account and the XG ISLAMIC account in swap-free. The minimum deposit for all three types of accounts is 100 USD equivalent.
Leverage
Professional traders can use a leverage level of 1:200. However, due to ESMA restrictions, the maximum leverage available to retail clients is 1:30. The margin call level is 100%.
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
Spreads vary depending on the type of account and asset. For the XG RAW account, the spreads are 0.2 pips for EURUSD and GBPUSD, and 0.4 pips for USDCHF. With regard to the XG STANDARD account, spreads are obviously wider, 1 pip for EURUSD, 1 pip for GBPUSD and 1.2 pips for USDCHF.
In addition, XGLOBAL charges a commission of $7.50 per lot for the former, while the latter has no commission.
Trading Platform
XGLOBAL offers its clients access to the world's financial markets through the MT4 and MT5 platforms, which are considered to be the latest online Forex and CFD trading platforms available and are suitable for professional or experienced investment clients. They offer a built-in automated trading market and also support both PC and mobile use.
Deposit & Withdrawal
Clients of XGLOBAL can deposit/withdraw funds via debit/credit cards, bank wire transfers, e-wallets and internal transfers. In addition, XGLOBAL does not charge any fees or commissions for deposits/withdrawals, but the company does not process any withdrawal requests to third-party accounts.
Trading Hours
Clients can use the client portal and website at any time, but the trading hours depend on the specific market. XGLOBAL lists the opening hours for each asset in its product description, for example, forex can be traded 24 hours a day, Monday to Friday.
Customer Support
XGLOBALs customer support can be reached by telephone: +357 25 262002, email: support@xglobalmarkets.com. You can also follow this broker on social networks such as Twitter, Facebook and LinkedIn. Company address: 162 Fragklinou Rousvelt, 1st Floor 3045, Limassol, Cyprus.
Pros & Cons
Pros | Cons |
• Regulated by CYSEC & BaFin | • FCA license is revoked |
• Multiple trading assets and funding options | • Website inaccessible |
• MT4 and MT5 supported |
Frequently Asked Questions (FAQs)
Q 1: | Is XGLOBAL regulated? |
A 1: | Yes. It is regulated by CYSEC & BaFin. |
Q 2: | At XGLOBAL, are there any regional restrictions for traders? |
A 2: | Yes. XGLOBAL accepts traders from Austria, Bangladesh, Belarus, Brazil, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Greece, Hong Kong (China), Singapore, United Kingdom and most other countries. |
Q 3: | Does XGLOBAL offer the industry-standard MT4 & MT5? |
A 3: | Yes. Both MT4 and MT5 are available. |
Q 4: | What is the minimum deposit for XGLOBAL? |
A 4: | The minimum initial deposit to open an account is $100. |
Q 5: | Is XGLOBAL a good broker for beginners? |
A 5: | Yes. XGLOBAL is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms. However, the official site is somehow unavailable currently. |
Cyprus based, CySEC-licensed Retail FX and CFD brokerage group X GLOBAL Markets Ltd, which operates the XGLOBAL Markets brand, has announced a 45% acquisition of South African FSCA regulated broker 98 Degrees Alternative Risk (Pty) Ltd, which has now been rebranded as XGLOBAL Africa.
Cypriot FX broker XGLOBAL Markets has acquired a 45% stake in South African broker 98 Degrees Alternative Risk (Pty) Ltd. The new business has now been rebranded as XGLOBAL Africa to reflect the new ownership structure.
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