XForex Review
Reviewer: Matthew Johnson
Rating:
Website Reviewed: XForex
Founded in 2003 in Canada, XForex has built good reputation throughout the years and today is one of the most trusted online forex brokers who trade currency, gold, and silver. Unlike some other broker, you don’t need to download application for the trading platform since you can access it online.
XForex Review: Features Summary
1. Leverage; XForex offer up to 200:1 leverage which means if you invest $100 with 200:1 you can trade for 200×100 20,000 units.
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2. Commissions; XForex doesn’t charges commission or fees for each trade. The broker is compensated through the different between bid and ask price.
3. Support; offer 24/5 support through multi lingual live chat. You can also request a callback or send email.
4. Deposit and Withdrawal; easy deposit and withdrawal via various credit cards and bank transfer. Minimum deposit is $100 with up to 20% deposit bonus.
5. Spread; XForex offer fixed spread. The spread for EUR/USD is typical 3 pips.
6. Trading Platform; XForex trading platform is quite unique by offering web based trading platform, which means you don’t have to download or install anything in your computer.
The trading platform is decent and provides all the basic trading features that you need such as live market price, charts, take profit order, stop loss order, financial calendar, etc. News is provided through their partnership with Reuters. It doesn’t allow hedging which means you can’t open two opposite positions in one currency pair simultaneously.
7. Practice Account; provide demo account where you can choose between $100-$10,000 account values; it is based on the real account selection.
8. Security; apply SSL secured server where your personal details are kept in a highly encrypted format and are deleted from their servers once they are no longer relevant.
9. Currency Pairs; you can choose from 21 currency pairs, gold, and silver.
10. Rollover/Overnight; at XForex, you will gain or lost money due to interest for any position that held overnight. The interest is depend on what currency pair that you hold; you can be charged or gain interest.
11. Forex Robot; XForex does not allow Forex Robot or Meta Trader for their client, thus using Forex Robot is not an option in XForex. If you are into automated trading, you can still use trading signals.
Conclusion
XForex offer all features that you need to trades in convenience. The online trading platform has its own benefit: you don’t need any software which means you can access it from any computer with internet. Just be very careful if you access it through public computer; make sure you delete all the history and cookies before you left to prevent information leak.
If you are into forex trading, XForex is one of the great choice to support your trading. Need further info from the one in this XForex Review? Click the link below: