XForex, developed by experienced and professional traders, who understand the needs of a common investor, is a trading platform where technology meets the world of finance. Go through the review of XForex, which is the main objective of this article.
First opening its doors in Cyprus in 2003, XForex has expanded to North America. Also known as Ultimass Global Inc, this broker is a decent one, with good service, a good platform, and some extra client perks. Offering most of the services that a forex trader is seeking, one can go for a mini and regular forex accounts. The deposits are as low as $100 and leverage up to 200 to 1. The traders can trade with 21 different currency pairs and 2 metals on their web-based platform. There are competitive fixed spreads with no deposit, withdrawal or trading fees. One can also start with a free demo accounts.
Getting on with the XForex review, any new client must contact them via chat, email, or phone to investigate. One can get immediate response, thanks to their 24-hour chat, with the sales person who is very knowledgeable and helpful. The registration is easy and quick. The whole process for depositing process is easy and quick via various credit cards or by bank wire transfer.
The XForex trading platform, besides being web-based and very user-friendly, offers all the basic trading features including market, limit, stop orders and trailing stops. Another unique feature on this platform is a “Top traders” link which helps you to see the top 10 traders current trades. Mobile trading and Account reporting are also offered.
As you learn more about Xforex, it is important to mention that a daily market update along with a daily economic events calendar are also offered by this broker. But at the times of high volatility and news events this platform can stall or give an error. Hence news trading is not great with this Xforex. It is regulated by EU regulations and capitalized by Saxo Bank, Deutsche Bank, and Canadian Imperial Bank of Commerce.
So, you see there are no major red flags popping up during this review of XForex. Another great addition to their offering is their new Welcome bonus of $2,000 or 20%, giving it an edge over other brokers. All in all, Xforex is a very good choice for Forex traders, regardless of their trading experience.