Xlence is a promising newer entrant in the trading platform space, offering flexible leverage up to 1:1000 and over 300 trading instruments. While their competitive spreads and educational resources are appealing, potential concerns include limited regulation (Seychelles only) and high-risk leverage options. Best suited for traders comfortable with newer platforms who value diverse instruments and educational support.
Are you looking to dive into the world of online trading? Look no further! In this guide, we'll explore Xlence, a rising companyin investing. From its flexible leverage options to its diverse range of tradable instruments, we'll cover everything you need to know to decide if Xlence is the right platform for your trading journey.
This review is not investment advice
Our goal is to share information about the company and our own team's experience using the platform. Since almost every financial transaction involves risks, we suggest that you make your own judgment and only proceed if you are confident.
What is Xlence
Xlence is a relatively new player in the international forex and CFD brokerage scene, but it's quickly gaining recognition for its exceptional trading services. Founded with the mission to simplify trading for both beginners and professionals, Xlence has become a go-to platform for traders seeking a comprehensive and user-friendly trading environment.
Xlence is making significant strides in a short time. The company already offers access to over 300 trading instruments across six major asset classes, enabling different trading strategies and preferences.
Limitation
Unfortunately, Xlence doesn't serve US people right now, so if you’re an American, you have to wait a little longer until the platform is available to your location. The same goes for Iran, Cuba, Sudan, Syria and North Korea.
The company stands out for its flexible trading conditions, with leverage options up to 1:1000 and competitive spreads starting as low as 0.5 pips. This makes it an attractive option for traders looking to maximize their market exposure while keeping costs low.
One of Xlence's features is its commitment to education. The platform provides rich educational content for free, ensuring that traders at all levels can continually improve their skills and market knowledge.
The platform also emphasizes fast execution and hassle-free deposits and withdrawals, addressing two critical aspects of the trading experience. With its user-friendly interfaces and comprehensive educational resources, Xlence aims to cater to traders of all experience levels.
Now, let's break down some key information about Xlence:
Characteristic
Xlence
Available Markets
Forex, Metals, Indices, Commodities, Futures and Shares
Products
Over 300 available
Tools
MetaTrader 4 (MT4) and WebTrader
Customer Service
24/5, Multilingual support
Leverage
Up to 1:1000
Spread Types
Fixed and floating
Spread costs
From 0.5 pips to 2.7 pips
Commissions
No commissions
Features
Xlence Academy and Economic Calendar
Create an account
Free
Demo account
Available
Regulamentation
Only Seychelles Financial Services Authority
Account types
Essential, Prime, Deluxe and Ultimate
Mobile app
Unavailable
Stop out
20%
Dedicated Manager
Available in Prime, Deluxe and Ultime accounts
Xlence Pros and Cons
Get to know the Xlence's main advantages and potential drawbacks:
Pros
High leverage options up to 1:1000
Low spreads, especially on higher-tier accounts
Wide range of tradable instruments (300+)
Comprehensive educational resources
Cons
Regulated only for Seychelles Financial Services Authority
Relatively new in the market
Don’t serve US people yet
Limited platform options
Types of accounts
Investing can be a complex world, and each trader has unique needs when it comes to tools, costs, and features. That's why Xlence offers various types of accounts which meet with different trading styles and experience levels.
Don’t worry, we’ll explain each account type, so you can understand which fits you better.
Xlence Essential Account
This is the entry-level account, perfect for beginners or those who prefer straightforward trading conditions.
Spread EUR/USD Min: 1.1 pips
Spread EUR/USD Average: 1.4 pips
Spread XAU/USD Min: 0.23 pips
Spread XAU/USD Average: 0.25 pips
Commission: No commission, except for specific futures trades
Provide your personal information, including your name, e-mail address and phone number. Remember, your phone number and the Country of Residence field must be from one of the countries listed. Xlence is working in about 100 countries already, but does not offer its services to residents of certain jurisdictions such as the US, Iran, Cuba, Sudan, Syria and North Korea.
Create a secure password
Yet on this page, you must choose a password for your account. Go for a strong and unique one, to ensure security.
You also have to accept the terms and conditions. We recommend that you read on carefully. It's very important to understand the rules and regulations governing your trading account. If you agree with them, mark the box and click on “Open Account”.
Complete your information
Your account is already created, but you have to activate it. For this, in the homepage, click on “Complete profile” on the right side of the screen.
Here you will have many fields to fill in, such as personal details, address details and documentation.
Verify your email
After filling all the information, check your inbox for a verification email from Xlence. Click on the verification link to confirm your email address.
Add a trading account
With everything done, you can finally add a trading account. Click on “Accounts” on the left side menu. Here you have two options: a real account and a demo account.
You can try the Xlence demo account for free before spending any money. Use it to practice and know better the features of the platform.
Select the option you want and fill in the necessary information. If you go for the real account, you’ll also have to select the type of account.
Fund your account
Once your account is verified and your trading account created, you must make your first deposit. Xlence offers various payment methods to suit different needs, including bank transfers and e-wallets. We’ll explain them later.
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Understanding Xlence Cost Structure
We already mentioned some spreads, but now is time to dive into Xlence's costs. After all, knowing what you're paying for is crucial when choosing a trading platform. First of all, let’s remember each account costs:
Essential Account
Spread on EUR/USD: Starts from 1.1 pips, averaging around 1.4 pips.
Spread on XAU/USD (Gold): Minimum of 0.23 pips, averaging 0.25 pips.
Commission: Zero commission on most trades
For example, if you're trading 1 lot of EUR/USD (100,000 units) with a spread of 1.4 pips, your cost would be $14 per trade.
Prime Account
EUR/USD spread: From 0.9 pips, averaging 1.2 pips.
XAU/USD spread: Minimum 0.18 pips, average 0.20 pips.
Commission: Still zero for most trades.
Using the same 1 lot EUR/USD example, your cost would drop to $12 per trade.
Deluxe Account
EUR/USD spread: From 0.6 pips, averaging 0.9 pips.
XAU/USD spread: Minimum 0.18, average 0.20 pips.
Commission: Remains at zero for most trades.
Trading 1 lot of EUR/USD on the Ultimate account could cost as little as $7 per trade.
Ultimate Account
Ultimate EUR/USD spread: From 0.4 pips, averaging 0.7 pips.
XAU/USD spread: Minimum 0.18, average 0.20 pips.
Commission: Remains at zero for most trades.
The same example of Deluxe Account goes for the Ultimate: Trading 1 lot of EUR/USD could cost as little as $7 per trade.
Future Costs
While Xlence boasts no commission on most trades, there's a $10 per lot commission on Future Indices, FX Futures, and Future Commodities. This works in the same way for every kind of account.
Main tools available on Xlence
When investing, it’s important to have strong support. Xlence aims to be not just a trading platform, but a complete platform, designed to empower investors with knowledge and resources. Let's explore some of the standout tools:
Xlence Academy
The Xlence Academy is your personal trading university, right at your fingertips.
An educational resource packed with courses on trading strategies, technical analysis, and market fundamentals, totally free. It's designed to help both beginners and experts to achieve a higher level.
In the fast-paced world of trading, knowledge is power. The Xlence Academy helps you build a solid foundation of trading skills, potentially reducing costly mistakes and improving your decision-making process.
Pros of using Xlence Academy
Totally free
Self-paced learning
Covers a wide range of topics
Helps demystify complex trading concepts
Economic Calendar
Staying on top of market-moving events is crucial for any trader, and Xlence's Economic Calendar makes this task easier. Besides economic events and other market-impacting occurrences, it provides forecasts, historical trends and real-time updates.
Pros of using Xlence’s Economic Calendar
Real-time updates
Customizable to focus on your preferred instruments
Helps in fundamental analysis
Aids in planning trading strategies around major events
MetaTrader 4 (MT4)
MT4 is the bread and butter of many traders worldwide, and Xlence offers full support for this powerful platform. MetaTrader4 provides real-time market data, advanced charting tools and the ability to use automated trading strategies through Expert Advisors (EAs).
Pros of using MT4 on Xlence
Available on desktop, web, and mobile devices
Customizable interface
Supports algorithmic trading
Large community for support and strategy sharing
WebTrader
For those who prefer not to download software, Xlence offers a browser-based trading solution. WebTrader is a trading platform that offers most of the functionality of MT4 without requiring any downloads or installations. This is particularly useful for traders who are often on the move or use multiple devices.
Pros of using Xlence WebTrader
No download required
Access from any internet-connected device
User-friendly interface
Seamless integration with your Xlence account
Customer Support
This isn’t exactly a tool, but it’s worthy to mention Xlencer's Customer Support. The platform provides 24/5 multilingual support through various channels, including live chat, email, and phone.
So, if you have any trouble when using the platform, count on Xlencer help during the weekdays.
By leveraging these tools, you can potentially enhance your trading performance and make more informed decisions.
Remember
Successful trading is about more than just buying and selling – it's about continuous learning and adapting to market conditions. Xlence's suite of tools aims to support you on this journey.
Available options to pay and withdraw
When it comes to trading, getting your money in and out of your account smoothly is crucial. Xlence understands this and offers a range of options for both deposits and withdrawals.
The most important thing: Xlence doesn’t present any fee for deposits or withdrawals, so you can take your money in and out whenever you want.
Deposits
Funding your Xlence account is straightforward, with several methods available to suit different preferences.
Bank Wire Transfer
If you prefer a traditional method, Xlence allows you to make deposits directly from your bank account. The main benefit is that this method is secure for large deposits. On the other hand, it can take 1-3 business days to process.
Credit/Debit Cards
Now, if you’re the kind of person who prefers cards, know that Xlence accepts major credit and debit cards. This is good for those who want agility, because the funding is virtually instantaneous, but some banks may charge additional fees.
E-Wallets
Now we’re talking about technological people. Xlence supports popular e-wallets for quick and easy deposits. If this way has fast processing, it can have limits on deposit amounts.
Withdraw
Getting your money out is even more important than putting it in. Xlence knows it and offers several withdrawal methods.
Bank Wire Transfer
The most common method for larger withdrawals is directly for your bank account. Though it has no upper limit for amounts, the process may take 3-5 business days.
Credit/Debit Cards
Xlence allows you to withdraw funds back to the card you used for deposits, in a relatively quick process. But be aware that some cards may have withdrawal limits.
E-Wallets
For smaller amounts, you can have a fast and convenient method: e-wallets. In this case, the limits can be very lower than bank transfer, but your withdrawal is usually processed within 24 hours.
It's worth noting that Xlence processes most withdrawal requests within 24 hours, which is faster than many competitors in the industry. However, the actual time it takes for the funds to reach your account can vary depending on the method chosen.
Platform safety and data protection
In the digital age, security is primordial, especially when it comes to your financial data. Xlence takes several measures to ensure the safety of its platform and protect user data. Discover some of them.
SSL Encryption
Xlence employs industry-standard SSL (Secure Socket Layer) encryption to protect all data transmitted between your device and their servers.
SSL encryption scrambles your data, making it unreadable to anyone who might intercept it. This means your personal and financial information stays safe from prying eyes.
Two-Factor Authentication (2FA)
Xlence offers 2FA as an additional layer of security for user accounts. This measure requires a second form of verification (usually a code sent to your phone or email) in addition to your password.
This makes it much harder for unauthorized users to access your account, even if they somehow get your password.
Segregated Accounts
Client funds are kept in segregated accounts, separate from the company's operational funds. This practice ensures that your money is safe even if the company faces financial difficulties. It's a key protection measure required by many financial regulators.
Regular Security Audits
Xlence conducts regular security audits to identify and address potential vulnerabilities. In a world where cyber threats are constantly evolving, regular audits help ensure that the platform's defenses stay up-to-date against the latest risks.
Tips to ensure your protection
To further enhance your safety when trading and comply with Xlence measures, here are some additional tips for you:
Use a strong, unique password for your Xlence account
Enable 2FA as soon as possible
Be wary of phishing attempts - always double-check the URL before logging in
Avoid using public Wi-Fi for trading
Xlence final rating
After diving deep into Xlence's offerings, it's clear that this broker has both strengths and areas for consideration. Let's break down why you might want to choose Xlence, and where you might pause for thought.
Why choose Xlence
Flexible leverage up to 1:1000: This high leverage can be a powerful tool for experienced traders looking to maximize their market exposure.
Competitive spreads: With spreads as low as 0.4 pips on EUR/USD for Ultimate accounts, Xlence offers cost-effective trading conditions.
Diverse range of instruments: Access to over 300 trading instruments across six asset classes provides ample opportunities for portfolio diversification.
Educational resources: The Xlence Academy offers valuable learning materials for traders at all levels.
User-friendly platforms: With both MT4 and WebTrader available, Xlence caters to different trading preferences and styles.
Fast execution and hassle-free deposits/withdrawals: These features contribute to a smooth trading experience.
Why you might hesitate
Relatively new player: As a newer entrant in the forex market, Xlence doesn't have the long-standing reputation of some established brokers.
Limited regulation: Xlence is regulated only by the Seychelles Financial Services Authority. Besides, the company doesn’t work in the US. These factors might concern risk-averse traders
High leverage risk: While high leverage can amplify profits, it also increases the risk of significant losses, especially for inexperienced traders.
Limited platform options: Some traders might prefer a wider range of platform choices beyond MT4 and WebTrader.
Xlence appears to offer a solid trading package, particularly appealing to those comfortable with higher leverage and looking for a diverse range of instruments. The educational resources and user-friendly interfaces make it accessible for beginners, while the competitive spreads and fast execution could attract more experienced traders.
However, it's crucial to consider your personal trading goals and risk tolerance when choosing a broker. If you're comfortable with a new player in the market, with a single regulamentation, and have the skills to manage high leverage responsibly, Xlence could be a good choice.
Remember
No matter which broker you choose, always trade responsibly and never invest more than you can afford to lose!
Xlence FAQs
How can I create an account on Xlence?
Creating an Xlence account is a straightforward process that takes less than 10 minutes. See the full step-by-step on this article.
How secure is Xlence for online transactions?
Xlence employs industry-standard SSL encryption to protect all data transmissions. Two-factor authentication (2FA) adds an extra layer of security for user accounts. Client funds are kept in segregated accounts, separate from company funds. Regular security audits are conducted to identify and address potential vulnerabilities, ensuring a safe trading environment for users.
Does Xlence offer customer support?
Yes, Xlence provides comprehensive customer support. They offer 24/5 multilingual assistance through various channels, including live chat, email, and phone. Xlence also maintains a FAQ section and educational resources to help users find quick answers to common questions and improve their trading knowledge.
What payment methods does Xlence accept?
Xlence accepts a variety of payment methods for deposits and withdrawals. These include bank wire transfers, credit/debit cards, and popular e-wallets. Most deposits are processed instantly, while withdrawals are typically handled within 24 hours. Bank transfers may take 1-3 business days. The platform aims to provide hassle-free transactions, with no fees charged by Xlence for deposits or withdrawals.
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