XGLOBAL FX

XGLOBAL FX broker has been active in forex and CFD trading since 2012 and is known for its Raw, Plus and Zero accounts on MetaTrader 5. Technically, this broker offers acceptable features, but it also has a serious limitation for Iranian traders. In this introduction, we have reviewed XGLOBAL FX's licenses, accounts, payments and risks based on Teagle's data.

What kind of broker is XGLOBAL FX?

XGLOBAL FX is a brokerage with about 14 years of history whose main international services company is registered in Vanuatu and is part of a group that also has other entities. According to Teagle's data, this broker offers more than 340 trading instruments across currencies, metals, indices and stocks. XGLOBAL FX claims to keep client funds in segregated bank accounts and to provide negative balance protection. Transparent rules are also among the advantages the Teagle expert has noted for it.

XGLOBAL FX licenses and credibility

According to Teagle's latest review, XGLOBAL FX has two active licenses:

• VFSC Vanuatu (No. 15062), which is the main regulator for international clients and is considered a weak offshore license;
• CySEC Cyprus (No. HE398738), which according to Teagle's data belongs to the group's parent company.

Having a CySEC license within the group helps the brand's overall credibility, but international clients' accounts are opened under the Vanuatu license, and European protections do not apply to them. If you are not familiar with this difference, read the article The difference between offshore and onshore brokers .

Does XGLOBAL FX serve Iranians?

No. According to Teagle's experts, XGLOBAL FX's official documents and client agreement explicitly state that services are not provided to residents of several countries, including Iran, Syria and North Korea. So despite its trading advantages, XGLOBAL FX is not available to traders residing in Iran, and registering with false information can lead to the account and funds being frozen. To choose a safe alternative, see the article Banned brokers and how to choose a safe broker .

XGLOBAL FX trading accounts

XGLOBAL FX has three accounts, all offered on MetaTrader 5 with floating spreads, leverage up to 1:500, a 100% margin call and a 50% stop-out, and all have an Islamic version:

• XG Raw account: minimum deposit $100, spreads from 0.2 pips and a commission of $7.5 per lot;
• XG Zero account: minimum deposit $100, no commission and spreads from 1 pip;
• XG Plus account: minimum deposit $25, no commission and spreads from 1.8 pips.

Requotes are not recorded on any account. To learn how the real cost of commission and commission-free accounts compares, read the guide Spreads in forex trading , and before using 1:500 leverage, review the article Margin trading and leverage . The $25 monthly inactivity fee is another cost to keep in mind.

XGLOBAL FX platforms and services

XGLOBAL FX's only platform is MetaTrader 5, available for Windows, Mac, Android and iOS; MetaTrader 4 is not supported. Scalping, hedging, news trading and phone trading are allowed, and an ECN account is also listed among the broker's features. Additional services include bonuses, education, copy trading, PAMM and Expert Advisor support; if you plan to use a bot, the article Expert Advisors or trading bots in forex is a good introduction.

Deposits and withdrawals at XGLOBAL FX

According to Teagle's table, credit card deposits start from $25 and are instant, bank wire transfers start from $100 and are processed the same day, and e-wallets such as Neteller and Skrill start from $100 and are instant; SticPay is also on the list of methods. The minimum withdrawal for these methods is $10. Card and bank wire withdrawals take 1 to 5 business days, and e-wallet withdrawals are sent within 24 hours. Deposit and withdrawal fees are stated as zero, but in the table they are marked with an asterisk and conditions. No crypto method is recorded in Teagle's data.

XGLOBAL FX's score and risk on Teagle

XGLOBAL FX's final score on Teagle is 2.69 out of 5, derived from three sources: Trustpilot 3.9, the Teagle expert 2.8 and WikiFX 1.37; Teagle users have not yet submitted any reviews. The Teagle Eye risk index for this broker is 36 out of 100, in the "low to medium risk" category; its long history and the group's CySEC license have worked in its favor, while its low WikiFX score has worked against it. Follow its position in the ranking of low-spread brokers .

Pros and cons of XGLOBAL FX

• Pro: Islamic version on all accounts and leverage up to 1:500
• Pro: low spreads on the XG Raw account and MetaTrader 5 support
• Pro: negative balance protection, low minimum deposit and transparent rules
• Con: the main regulator for international clients, VFSC Vanuatu, is offshore and weak
• Con: no services for residents of Iran
• Con: $25 monthly inactivity fee and no MetaTrader 4

Who is XGLOBAL FX suitable for?

In the Teagle expert's view, XGLOBAL FX suits non-Iranian traders looking for high leverage and low spreads on MT5. Residents of Iran and beginners who need a non-offshore regulator or the MT4 platform should look for another option. If you live outside Iran, weigh it up in the comparison of XGLOBAL FX and AAAFx .

Conclusion

With 14 years of history, a variety of accounts and negative balance protection, XGLOBAL FX is technically an acceptable broker, but it officially does not serve Iranians and its main license is offshore. If you reside in another country, start with a small amount, make a test withdrawal and follow the latest warnings on the investment risk warning page .