Established in 2017,XMarkets is an unlicensed Forex broker offering private traders access to various trading options on a state-of-the-art online trading platform. XMarkets is committed to providing superior trading conditions with a complete set of tools for Forex trading and investment strategies. Moreover, the cutting-edge platform implements advanced security protocols to ensure the highest level of protection for customers. The XMarkets platform is offered in English, Swedish, German, Italian and Dutch with multi-lingual support.Customers living in South Africa are welcome to trade at XMarkets.To find out more about the advantages of trading with XMarkets, read our review below.
XMarkets Special Features
To ensure that customers are well prepared to take full advantage of global financial market movements, XMarkets provides a broad range of tradeable instruments spanning currency pairs, indices, commodities, futures and stocks as well as sophisticated trading tools. Notably, by segregating customers’ funds from operational accounts, XMarkets ensures that the money deposited by its clients, is used only for trading on the secure trading platform, just as it was intended.
We were impressed to see that all new customers, wherever they live in the world, are entitled to receive free one-on-one training with a trading expert. Furthermore, clients requiring trading tips and recommendations put together by experienced traders, can turn to the vast library of educational material at XMarkets. Importantly, traders in South Africa, can access free video tutorials covering every aspect of Forex and CFD trading, including trading strategies, trading tools, social trading and economics. What’s more, all customers at XMarkets can take the free courses explaining how to use the MetaTrader trading platform and the mobile trading app. Not only does the comprehensive learning section at XMarkets provide essential information for traders, but prepares them to fulfil their full trading potential.
XMarkets Demo Account
To set up a Demo trading account at XMarkets is an easy process, taking about two minutes. Customers wishing to start trading with real funds rather than virtual funds can make a deposit of $250, subsequently keeping any profits. Nevertheless, practice trading in a risk-free trading environment is highly recommended to our readers. We think that it’s an optimal way to learn the basics of Forex trading, allowing traders to experiment with various strategies without worrying about negative consequences. Usually, practice trading means that clients can’t lose their personal capital, but prepares them to maximise their trading capabilities when they move on to real money trading at XMarkets. We noted that XMarkets does not allocate virtual funds to traders who open a demo account but enables them to become familiar with the platform set-up, financial instruments and trading tools only. It could be that XMarkets intends customers to begin trading with real money sooner rather than later.
XMarkets Live Trading Account
The minimum initial deposit to set up a trading account with Xmarkets is $250. There is just one type of live account which means that all traders have the same benefits and trading opportunities irrespective of experience. Moreover, the minimum trade is set at $25, which is quite high for novice traders and could lead to the loss of the capital deposited with XMarkets very quickly. By using the educational resources provided free by XMarkets, traders can enhance their knowledge of financial markets and potentially earn larger profits from educated investment decisions. From what we could see on the XMarkets website, customers are not routinely offered bonuses or promotional offers.
XMarkets Trading software
The proprietary trading platform made available by XMarkets to its customers, is a convenient web-based options platform. It’s easily accessible from the browser of any interconnected device without software download.Importantly, the platform is very easy to use and gives clients a choice of a Forex section with currency pairs only or a Simplex section with multiple asset classes.Importantly, XMarkets trading contracts have limited risk, with the maximum possible profit and loss displayed on the order ticket, before clients are asked to confirm a trade.
On the XMarkets trading platform customers can never lose more than the amount specified in each trade and trades are not executed if there is not enough money in the customer’s account. Traders can’t get margin calls because a pre-determined risk level is indicated on the platform with each trade. Subsequently, traders can focus solely on profits. At expiration of the trading option, trades close automatically at the settlement price. Notably, fixed return options pay a fixed profit or lead to a loss of the initial amount invested to open a trade. We were pleased to see that customers can decide to close trades early on the market price indicated on the platform before the expiry team is reached. Furthermore, there are no trading fees or commissions paid by customers to Xmarkets.
A mobile trading app is not offered by XMarkets, probably as traders can access the platform using their mobile phones and tablets irrespective of operating systems. Daily financial news from Asia, Europe and the USA is provided to customers without having to quit the XMarkets trading platform. This gives them the opportunity to make the best possible trading decisions based on up to date information and potentially increase profits.
XMarkets Customer Support Information
Customer support is available 24/5 over the live chat help line, email and several international telephone numbers. On the weekend, clients are invited to ‘leave a message’ directly on the interface on the website. We were pleased to see that the customer service team takes pride in giving objective and transparent guidance to its customers. Importantly, the reputation of XMarkets relies heavily on their total commitment to their global customer base. Clients who wish to call the customer support team can do so on the numbers listed below in English, German, Dutch or Italian.
XMarkets Payment Methods
XMarkets supports funding of trading accounts using Visa, Mastercard and Maestro credit/debit cards. Also, the electronic payment methods Neteller and paysafecard, as well as bank wire transfer.The funding process is very easy, with clients going to the funding section on their personal account page to choose the preferred way of depositing money. Notably, the payment page is protected with advanced SSL encryption technology ensuring that customers’ payment details are secure. Minimum single deposits to XMarket trading accounts are set at $250 and the maximum transaction amount is $10,000. Withdrawals are as easy as deposits, with a withdrawals button situated on the main funding page. Importantly, withdrawals can be made by the same method used to deposit. Moreover, funds exceeding the amount of the initial sum deposited must be withdrawn by bank wire transfer. All costs for funding transactions with XMarkets must be paid by the customers and it may take up to 14 days for customers to receive their funds.Payments to Xmarkets via credit cards are processed by Celtic Pay Ltd, Dept 1308, 43 Owston Road, Carcroft, Doncaster, DN6 8DA, UK
XMarkets is operated by Celestial Trading Ltd registered at Global Gateway 8, Rue de la Perle, Providence, Mahe, Seychelles.
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