XXLMARKETS Forex Broker

Note: XXLMARKETS' official website: https://xxlmarkets.com/ is currently inaccessible normally.XXLMARKETSReview SummaryFounded2021Registered Country/RegionUnited KingdomRegulationNot regulatedMarket Instrumentsforex, stocks, CFDs, indices, and commoditiesDemo Account/LeverageUp to 1:500SpreadFrom 2.3 pips (Bronze account)Trading PlatformMT4, Web Trader, Tablet Trader, Mobile TraderMin Deposit$500Customer SupportContact formPhone: +44 7441427348Email: support@xxlmarkets.com XXLMARKETS was founded in the United Kingdom in 2021. It offers various trading assets, like forex, stocks, CFDs, indices, and commodities with leverage up to 1:500 and spread from 0pips. However, it currently has no any valid regulations.Pros and ConsPros Cons Various trading assetsNot regulatedPopular trading platform MT4Wide spreadHigh minimum depositLack of transparencyIs XXLMARKETS Legit? XXLMARKETS is not regulated by any financial authorities, even the local FCA shows no results about it. It means traders have the risks of being cheated. Traders should be alerted when trading.What Can I Trade on XXLMARKETS?Tradable Instruments Supported Forex✔Stocks✔CFDs✔Indices✔Commodities✔Options❌ETFs❌Account Type XXLMARKETS provides three account types: Bronze, Silver and Golden.Account TypeMinimum DepositGolden$25000Silver$10000Bronze$500Leverage The leverage of XXLMARKETS is up to 1:500. High leverage always comes with high profits and high losses.Spreads and Commissions The spreads of XXLMARKETS are the same in the Bronze account and Silver account starting from 2.3 pips, and commissions are free for these two accounts. But the spread on the Golden account starts from 0.0 pips, and requires a commission of 1.2 pips per closed lot.Other Fees The only fee specified in the Customer Agreement is that for an inactive account – 60 USD per month.Trading PlatformTrading PlatformSupported Available Devices Suitable for MT4✔Desktop, Mobile and WebBeginnersWeb Trader✔WebExperienced tradersMobile Trader✔iPhone and AndroidTablet Trader✔WebDeposit and Withdrawal XXL Markets claims it can be pay through VISA, Mastercard, Web Money and Skrill, but in reality the only payment options appear to be bitcoins, bank wire transfers, and some obscure payment provider called Virtual Pay.