Broker XGlobal Markets Ltd was launched in 2012. The company was registered in Cyprus. The head office is located at 162 Fragklinou Rousvelt, 1stFl. 3045, Limassol, Cyprus. It is an STP broker, providing a decent speed of execution of trade orders and providing access to trading highly liquid assets. The company adheres to a unified approach to all types of clients: for both legal entities and individuals, the company provides a unified account with flexible trading conditions.
Products and services
XGlobal Markets provides 40 currency pairs for trading, energy trading, indices and precious metals futures. Additionally, we can note the absence of restrictions on the number of open positions and the ability to use helpers. Scalping, hedging and news trading are allowed.
According to the information on the official website, "client funds are kept in separate accounts with reputable European financial institutions." Also, according to directive DI144-2007-01 "On the conditions for the conduct of activities of Cyprus investment companies", companies are required to take all necessary measures to separate client funds and company funds and place them in different accounts. In addition, the broker is a member of the Investor Compensation Fund, which means that clients can claim compensation if the company is unable to fulfill its obligations.
Accounts and currencies
There are two types of accounts available to clients: STP and ECN. Account currencies USD, EUR, JPY, GBP. A DEMO account is available for clients.
The deposit starts from $ 500. It is worth noting that this is a very high entry threshold for a broker of this level.
Spreads and commissions
Spreads start from 1 pip. Upper limit 3.
up to 1: 200 for trading currencies and up to 1:50 for precious metals
XGlobal Markets offers its clients to use the popular MetaTrader4 platform for trading, with several modifications.
Classic version for Windows. Modified version for Mac OS X. Version for smartphones based on Android or iOS. And the version of the trading platform for tablets is specially optimized for touchscreens.
You can contact the support service by phone or e-mail indicated on the broker's page. Also, an account administrator is assigned to each client, who promptly answers questions.
Reviews of traders
We could not find any positive feedback on the company's work.
I regard XGLOBAL Markets' actions as fraudulent. I am asking for my money back from March 2019, but they are no longer responding.
One short word for this company: SCAM !!!! They disappeared along with my money.
Guys, I was here yesterday and today decided to climb on the forums, so to speak, to see the opinion of people. I just got worried ... stop orders do not work, often, well, $ 2,000 are lying and waiting for XGLOBAL Markets to descend and give them to me ... Well, I think anything can happen ... it's just a long time already - I was alerted by reading the forums
I realized that this is taking place, people are complaining .. who else will say what?
The problem of withdrawal has been discussed a thousand times. Why trade with this "company" at all? Find yourself a decent broker.
The main problem is to withdraw money. Large amounts are not given - you have to withdraw slowly in small parts. I don't like it at all.
Constant problems with the withdrawal of funds, this is not the first time I come across. You start to swear, they carry out a full check, they demand scans of the passport, they almost don't climb into the ass. And even after all the documents provided, sticks in the wheels are pushed, up to blocking access to your personal account.
a wide range of investment instruments; activity is licensed; clients have the right to receive compensation in the event of the company's bankruptcy; scalping, automated assistants and news trading are allowed.
high minimum deposit for opening an account; complete lack of analytics and training materials; a limited number of ways to withdraw and deposit funds; a large number of negative reviews.
XGLOBALMARKETS is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker XGLOBALMARKETS makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker.
In order to leave a review about the broker, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.
Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. XGLOBALMARKETS received a score of 1 of 5 on our resource.