Xlence Forex Broker
Basic Information
Seychelles
Within 1 year Regulated in Seychelles Retail Forex License Suspicious Scope of Business Medium potential risk Offshore RegulatedCompany profile
Rating Index
Deluxe
Prime
Xlence Forex Broker - Complete Information Guide
1. Overview of the Broker
Xlence is a trading platform managed by Tradeco Ltd, which was established in 2021. The company is headquartered in Seychelles, with its primary office located at F20, 1st Floor, Eden Plaza, Eden Island, Seychelles. As a private entity, Xlence operates in the financial sector, providing comprehensive trading services primarily focused on retail forex and CFD trading.
Since its inception, Xlence has aimed to create a user-friendly trading environment that caters to both novice and experienced traders. The broker has made significant strides in enhancing its service offerings, including the introduction of multiple account types and a diverse range of trading instruments. Xlence's mission is to empower traders to achieve their financial goals through innovative technology and educational resources.
The company operates under the regulatory framework of the Financial Services Authority of Seychelles (FSA), which allows it to provide trading services in various markets. The business model is primarily retail-focused, allowing individual traders to access global financial markets with competitive trading conditions.
In summary, Xlence broker stands out for its commitment to providing a flexible trading environment, ensuring that traders of all levels can benefit from its services.
2. Regulation and Compliance Information
Xlence is regulated by the Financial Services Authority of Seychelles (FSA), holding the license number SD 029. The regulatory framework provides a level of oversight, although it is less stringent compared to other jurisdictions such as the United States or the European Union.
The license is valid for conducting forex and CFD trading activities, and it ensures that Xlence adheres to basic operational standards. However, potential clients should note that there is limited client protection due to the lenient licensing requirements in Seychelles. Specifically, there is no investor compensation fund available in case of broker bankruptcy, which poses a risk for traders.
Xlence implements KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance measures to safeguard against fraud and ensure the integrity of its operations. Clients are required to verify their identity and provide proof of residence, which helps maintain a secure trading environment.
Overall, while Xlence broker is regulated, traders should be aware of the risks associated with trading with a broker in a less regulated environment.
3. Trading Products and Services
Xlence offers a broad range of trading products, making it an attractive option for various trading styles. The broker provides access to over 300 trading instruments across six major asset classes, including:
- Forex: More than 80 currency pairs, encompassing major, minor, and exotic pairs.
- CFDs: Contracts for difference on indices, commodities, metals, stocks, and futures.
- Metals: Trading options include popular precious metals such as gold and silver.
- Indices: Major global indices like the S&P 500, FTSE 100, and NASDAQ 100.
- Shares: CFDs on shares of globally recognized companies such as Apple, Tesla, and Amazon.
The broker continuously updates its product offerings, ensuring that traders have access to the latest market instruments. Xlence also provides retail trading services, allowing individual traders to engage in the forex and CFD markets with favorable conditions.
For institutional clients, Xlence offers tailored services, although specific details on institutional offerings are less emphasized in their current communications. The broker does not currently provide white-label solutions or asset management services.
In conclusion, Xlence broker provides a comprehensive suite of products that caters to a diverse client base, enhancing its appeal to traders looking to diversify their portfolios.
4. Trading Platforms and Technology
Xlence primarily utilizes the MetaTrader 4 (MT4) platform, which is widely recognized in the trading community for its robust features and user-friendly interface. The MT4 platform supports various devices, including:
- Desktop: Available for Windows and macOS.
- Mobile: Compatible with iOS and Android devices.
- Web Trader: Allows for browser-based trading without the need for software downloads.
The broker's trading environment is characterized by market execution, ensuring that traders can react swiftly to market movements. Xlence also supports automated trading through Expert Advisors (EAs), allowing traders to implement algorithmic trading strategies effectively.
The technology infrastructure is designed to provide fast order execution and reliable connectivity, which is crucial for active traders. Furthermore, Xlence offers API access for traders interested in developing custom trading solutions.
In summary, Xlence broker's commitment to providing an advanced trading platform enhances the overall trading experience for its users.
5. Account Types and Trading Conditions
Xlence offers four distinct account types designed to cater to different trading preferences and experience levels:
- Essential Account:
- Minimum Spread: 1.1 pips (EUR/USD)
- No commission on trades.
- Suitable for beginners.
- Prime Account:
- Minimum Spread: 0.9 pips (EUR/USD)
- Dedicated account manager for personalized support.
- Ideal for intermediate traders.
- Deluxe Account:
- Minimum Spread: 0.6 pips (EUR/USD)
- Access to advanced analytical materials.
- Tailored for experienced traders.
- Ultimate Account:
- Minimum Spread: 0.4 pips (EUR/USD)
- Includes exclusive trading tools and a dedicated manager.
- Designed for professional traders.
- Bank Transfers
- Credit Cards
- E-Wallets
- Live Chat
- Social Media (Facebook, Instagram)
- Webinars: Covering various trading topics and strategies.
- Tutorials: Step-by-step guides on using the trading platform.
- E-books: Comprehensive materials on trading concepts and market analysis.
- United States
- Syria
- Iran
- North Korea
- Cuba
- Sudan
All accounts feature flexible leverage options of up to 1:1000, allowing traders to adjust their risk exposure according to their strategies. The minimum trade size is set at 0.01 lots, and the broker implements a stop-out level of 20%.
Xlence also offers a demo account for traders to practice their strategies without risking real funds. This feature is particularly beneficial for newcomers to familiarize themselves with the trading platform and market dynamics.
In conclusion, Xlence broker provides a variety of account types and competitive trading conditions, catering to the diverse needs of its clients.
6. Fund Management
Xlence supports various deposit methods, including:
There is no minimum deposit requirement for opening an account, which makes it accessible for new traders. However, specific account types may have different minimum funding needs based on the services offered.
Deposits are typically processed within 24 hours, allowing clients to quickly access their trading accounts. Importantly, Xlence does not impose any fees for deposits, although payment providers may charge their own fees.
For withdrawals, clients can expect a processing timeframe of up to three business days. Withdrawals are generally processed via bank transfer, and while Xlence does not charge fees for withdrawals, clients should be aware of potential fees from their payment providers.
In summary, Xlence broker offers a hassle-free fund management experience, with multiple deposit options and efficient withdrawal processes.
7. Customer Support and Educational Resources
Xlence provides 24/5 customer support, ensuring that traders can receive assistance during market hours. The support channels include:
The broker offers multilingual support, accommodating clients in over 30 languages, which enhances its accessibility for a global clientele.
In addition to customer support, Xlence features a range of educational resources designed to assist traders in improving their skills. The educational offerings include:
Market analysis services are also available, providing traders with daily updates, news, and research reports to inform their trading decisions.
Overall, Xlence broker emphasizes the importance of education and support, equipping traders with the tools necessary to succeed in the financial markets.
8. Regional Coverage and Restrictions
Xlence primarily serves clients in various international markets, with a focus on regions that allow for its regulatory framework. However, the broker does not accept clients from specific countries, including:
This restriction is in place to comply with international regulations and ensure the safety of its operations.
In summary, Xlence broker offers a global trading platform while adhering to regulatory limitations, ensuring that it operates within the legal frameworks of the jurisdictions it serves.
In conclusion, Xlence broker combines a robust trading environment with a diverse range of products and services, making it a viable option for traders of all levels. With its competitive trading conditions, user-friendly platform, and commitment to customer support and education, Xlence is well-positioned to cater to the needs of the modern trader.
Xlence Similar Brokers
Latest Reviews
NihelLeon
France
First of all, the platform is mt5 and there is not much to say about it, as it is a solid platform with many tools for creating charts. However, I would like to draw attention to their spreads. For the EUR/USD pair with a Prime account, spreads are usually between 1.2 and 1.4 pips, which is quite competitive.
Positive
07-06
NasserAl-Shehri
Saudi Arabia
I liked that this broker adopted a simple approach in everything, achieving smooth and flawless performance. The features they provided made everything quick and smooth. For example, after making my deposits, they offered me digital currency wallets for direct transfers, without intermediaries. Depositing was excellent, and withdrawing in digital currencies was the fastest ever in my experience.
Positive
07-03
RedaTazi
Morocco
Xlence broker offers what we're accustomed to: an MT platform. It's not the best in terms of interface or charting tools, but automated trading is what makes it appealing to me. Considering the trading volume I handle, I highly value their order execution speed—with absolutely no price slippage at all. A decent broker, despite some minor weaknesses.
Positive
07-16