In our quest to find out is Xlence broker legit, we’ve found an interesting new broker to present. It’s an online forex and CFD brokerage, with an array of interesting conditions and offers.
This review will explore the broker’s service, of course, starting with its security and trustworthiness to see whether it’s legitimate, then proceeding to the service and trading conditions.
Is Xlence Broker Legit: A Review of Security and Longevity
The first thing most traders like to investigate when searching for a new brokerage is safety. We’ve all heard horror stories of people losing large amounts of money to a less-than-honest company. This caution is smart, and doing your due diligence is always a good idea.
This review is here to help with that. To start, Xlence is a regulated company, already offering traders some proof of its operational ethos.
Furthermore, the website is clear, all assets and services are visible, and described in detail. As such, traders will be able to go in fully informed of the service and what it encompasses.
This, along with the 4.3 score on Trustpilot, gives us an idea of the answer to our starting question: is Xlence broker legit?
Is Xlence Here to Stay?
Our other question pertains to longevity. An issue with a lot of new brokers is that they don’t plan ahead and fizzle out quickly. Traders, on the other hand, don’t really like to switch brokers often once they’ve found one they like.
Luckily, Xlence looks like it’s here to stay. It’s been introducing gradual updates that aim to improve the service and make it more powerful and convenient for traders. On top of that, it’s quite active in communicating with its traders, indicating that it intends to foster a long-lasting community.
Xlence’s Trading Services
Another aspect of answering the question ‘Is Xlence broker legit?’ comes from looking at its services. Is there a legitimate reason to use it over other brokerages? Let’s find out!
In this section, we will go over a quick overview of what it offers and expand in the following ones. This way, you can immediately find out whether it broadly matches your interests, and dig deeper if it does.
Here are Xlence’s main draws:
- 300+ instruments
- MT4 and MT5 platforms
- Flexible leverage
- Trading Central and other trading assistance tools
- 4 account options, including Islamic accounts
- 24/5 multilingual support
- Free education
- A curated news & analysis page.
Is Xlence Broker Legit: A Look at its Platforms
Let’s start with where traders spend most of their trading day: the platforms. The options it offers are perhaps two of the most widespread platforms in the forex and CFD world, MetaTrader 4 and MetaTrader 5.
These two are the most prominent options for good reason. MT4 is a very easy platform to learn with a lot of depth. Beginners can quickly grasp the basics such as finding assets, placing trades, and using simpler indicators.
However, it also has a lot of depth in complex features like backtesting and EAs. Beyond that, the platform has its own programming language, making tons of custom tools available. The most tech-savvy traders can even make indicators themselves!
Even with only that, the answer to ‘Is Xlence broker legit?’ would be yes. However, MT5 takes it to the next level. Essentially, it’s a bit more complicated to learn than its predecessor, but it offers more depth as well.
This creates a natural progression path for traders, as when they feel like they’ve mastered MT4, they can take it even further and keep advancing.
Instruments on Xlence
It wouldn’t be very useful to ask ‘Is Xlence broker legit’ without checking out the asset list. Even the best brokerage wouldn’t be of much use to traders if it didn’t offer the instruments they wanted to trade.
Xlence’s instrument list includes:
- Forex: All majors and minors with exotic options
- Commodities: Oil, cocoa, coffee and more
- Metals: Spot commodities like gold and silver paired with top global currencies
- Indices: Leading US and global index funds
- Stocks: Instruments from some of the most prominent global companies like Tesla and Amazon
- Futures: Index futures for speculation or hedging
As you can see, this allows traders to create fairly diverse portfolios and creates a good mix of commonly used instruments and those that are more obscure. As such, it’s easy to both follow proven trading tactics and experiment.
Is Xlence Legit: Account Options
Xlence’s accounts are fairly simple, each being an upgrade over the previous one. Luckily, all accounts offer full access to base services, so even budget-restricted traders won’t get locked out of any assets or key features.
The only key differences are that the first type, Xlence Essential, doesn’t get access to a Dedicated Account Manager, and that the spreads tighten as accounts get better. Other than that, all accounts have the same flexible leverage, minimal lot size of 0.01, and minimal lot increment of 0.01.
Xlence Bonuses
The answer to ‘Is Xlence broker legit?’ is fairly clear by now, but there’s still more to cover. Its bonus structure allows traders to bolster their funds with extra trading credits, which cannot be withdrawn. There are two bonuses, the first one is available outside of the MENA region, and the second is MENA-exclusive.
Non-MENA:
- 100% Welcome and 50% Reload Bonus – 100% of the first deposit (up to USD 1,000) and 50% on every redeposit (max. $6000 per account)
MENA:
- 20% Welcome Bonus – 20% on first deposit and all redeposits, capped at USD 2,000 per trading account.
Note that bonus funds are not withdrawable, and will shrink proportionally with a trader’s withdrawals
Is Xlence Broker Legit: Final Verdict
Xlence is a broker that’s fairly new to the scene, but it has a lot to show for itself already. It enjoys a high level of trust among its users and boasts an extremely strong core service. On top of that, it seems to have an ethos of constant improvement, and is pacing new features well to both improve user experience and avoid burning itself out.
So, the answer to ‘Is Xlence broker legit?’ is yes. It’s a strong contender, and an option worth checking out for those in search of a new trading hub.
Disclaimer*All trading involves risk. It is possible to lose all your capital. You should consider whether you can afford to take the high risk of losing your money.