XSpot International Review
XSpot International Review
There are three main types of real trading accounts and a free demo account. The Basic account is also offered as swap-free, depending on country and presumably for those who observe the sharia laws on usury.
The Company. Security of Funds
Company Country Regulation
XSpot International SVG No
XSpot International is registered in two offshore zones – Saint Vincent and the Grenadines and the Marshall Islands. Additionally, it is a member of the external dispute resolution (EDR) organization, Financial Commission (FinaCom) and of its compensation fund, which covers investments of up to $20 000. On its website the broker says it keeps the client money in segregated accounts. But XSPot is not a regulated broker.
As a general rule we advise to avoid unregulated brokers as dealing with them is riskier than with properly regulated brokers like the ones supervised by the FCA or the Australian Securities and Investment Commission (ASIC).
XSpot offers two trading platforms – the very popular MetaTrader 4 (MT4) and the proprietary trading platform of the European forex broker XTB – xStation – which it makes available to other brokers through a white label partnership.
The xStation platform has been voted “Best Trading Platform 2016” by Online Personal Wealth Awards and offers fast execution, very fast execution speeds, technical analysis and charting tools, social trading and a host of other options.
MT4 comes in all its versions – for desktop, web and mobile devices, while xStation is offered as a web and mobile application.
Methods of payment
XSpot accepts payments through bank transfers, debit and credit cards and the online wallets Neteller and Skrill.
XSpot is an offshore unregulated forex and CFD broker. It is a member of FinaCom and its compensation scheme. This offers some level of client protection and suggests it is more reliable than hundreds of other offshore unregulated brokers, but one still has to be cautious.
Unlike many other unregulated offshore forex brokers, XSpot offers fairly reasonable trading conditions, particularly regarding the initial deposits for the basic type of account. Granted, the sum is still high compared to many other brokers, regulated at that, but the vast majority of offshore unregulated brokers we have reviewed recently require much bigger sums.
XSpot International Review Conclusion
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