Xpoken Review
Overview
Xpoken is an online broker promoting its activities from St. Vincent and the Grenadines. It has gained fame for offering fruitful investment aid in a safe online trading environment since it was established in 2021.
Following SVGFSA regulations imposed by St. Vincent and the Grenadines, this Forex and CFD broker continues its service on a proprietary web-based platform. Xpoken provides a demo account, and the minimum deposit is $250 to get service from the company. Its leverage is 1:400, and no fees are required for withdrawal and inactivity fees.
Pros / Cons
- Offering More than 500+ Instruments
- Great Platform
- A variety of Trading accounts
- High CFD Fees
- Low Regulation
Xpoken is an outstanding broker on the proprietary trading platform with a massive product portfolio having more than 500 CFDs. It doesn’t have slippage or requirement issues, which is also a positive. However, there are some cons to investing in Xpoken also. It offers high CFD fees and high minimum deposits. You may not get the necessary support in emergencies as it doesn’t offer 24/7 support to its clients.
Safety and Regulation
Xpoken didn’t receive licenses from major regulators like the FCA, ASIC, or CySEC due to being a new online broker, but the SVGFSA monitors its activities. The company also follows all standard AML and KYC policies.
Is Xpoken Safe or a Scam?
Even though a top-tier regulator does not regulate the broker, Xpoken is considered a safe broker to trade with as it maintains all safety measures. Xpoken strictly follows all AML and KYC standards to ensure all kinds of safety. Besides, it supports transparency with its execution policy, and negative balance protection is also available for VIP clients. It also holds a good record regarding being reliable towards clients and managing funds.
Accepted Countries
Xpoken can be used by citizens of any country except the U.S., Iran, and North Korea. But you must ensure that the broker’s service and terms are legal in your area.
Fees
Xpoken has chosen high trading fees, which are different for different account types. You cannot estimate the expenses properly because the broker is not transparent. Moreover, you will have to pay a higher minimum deposit to enjoy lower spreads and the best facilities. There is also no commission charged for trading.
Leverage
The maximum leverage of Xpoken is comparatively high, which is 1:400, and it offers its clients extra advantages with online trading.
What is Xpoken’s Minimum Deposit?
Xpoken fixed its minimum deposit as low as $250 or equivalent, but you have to deposit a minimum of $100,000 to get full service and lower spreads.
Account Opening
This company offers six types of trading accounts for clients. Among them, the Student Account and the Starter Account are low-end accounts, and the Premium Account, the Advanced Account, the Pro Account, and the VIP Account are high-end accounts.
The account types are described in more detail below:
Student Account
This account requires a minimum deposit of $250; trading is possible up to 1:400 leverage with a 0.01 minimum lot size.
Starter Account
Islamic accounts are available with this account, which requires a minimum deposit of $2,500. You can use more tools and massive assets with up to 0.01 lot size, initiated with 2,500 USD.
Premium Account
By depositing a minimum of $10,000, you can open this account and enjoy an enriched portfolio with in-depth market analysis. It allows a 0.01 minimum lot size and offers Islamic accounts.
Advanced Account
By depositing $25,000, you can enjoy a customized portfolio with this account. An account manager and daily analysis are also available. It also allows a minimum of 0.01 lot size.
Pro Account
The minimum deposit for this account is $50,000. With this account, you will get strong account protection for the tiniest market price difference, along with a customized portfolio and the amenity of fixed pricing and daily analysis.
VIP Account
A VIP account allows you to have account protection, the lowest market price differences, daily analysis, a customized trading portfolio, and access to a personalized account manager and fixed pricing opportunities. To get all these perks, you have to deposit at least $100,000.
All these accounts run on the user-friendly XpTrade Platform, with the facilities of having an account manager, mobile adaptability, and 24-hour trading.
Deposit and Withdawal
With Xpoken, you can fund your trading account using several funding methods. All deposits and withdrawals are carried out differently according to account types. Only USD is allowed as a currency in the accounts.
How to Make a Deposit?
You can deposit your money through credit or debit cards, bank transfers, wire transfers, and using e-wallets. To make a deposit, first, log into your account and go to the ‘Deposit’ section. Then click on the method you prefer and put in the amount you want to deposit. Now add the payment method details in the field and press the enter button, keeping the arrow on “Deposit.”
Trading Platforms
Xpoken invented and is using its proprietary investing platform, called XpTrade. For that, it spent a lot of time, energy, and money. The interface of XPTrade is user-friendly, and its technical analysis tools are robust. You can use the platform on mobile and desktop, but only through web browsers.
Markets and Financial Instruments
Xpoken gives you access to CFD trading with 500+ assets, and assets can be classified into currencies, stocks, indices, commodities, and cryptocurrencies.
Customer Service
Xpoken has a well-trained team to provide service to customers regardless of their account types and problems.
Means of Communication
You can communicate with them by live chat, emailing info@xpoken.com, or calling +1 800 8614098.
Client Education
After you deposit the minimum account, Xpoken will give you access to its education center and resources so that you can learn the required skills and knowledge to trade online with this online broker.
Conclusion
Xpoken is a legal and trusted CFD and Forex broker that runs online and was established in 2021 in St. Vincent and the Grenadines. By offering six distinct trading accounts and floating spreads, Xpoken allows you to access 500+ financial assets that make your trading experience memorable.
Methodology
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. Our reviews and overall scores are based on the key areas above, in a combination with our opinion and commentary.
The reviews are shared and discussed with the brokers, but the authors of our website always have the final word. Furthermore, we always strive to keep the information on our website updated and relevant for our readers.
What helps us stand out is that we always test our brokers with an anonymous live account, to ensure we deliver the most accurate information and experience to our readers. Finally, our reviews and evaluation are always independent of any financial compensation we may receive from the brokers.
Risk Disclaimer
There is a very high degree of risk involved in trading securities.
With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.
There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.
Looking for more information on brokers and trading? Have a look at our trading guides
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Xpoken is an online broker promoting its activities from St. Vincent and the Grenadines. It has gained fame for offering fruitful investment aid in a safe online trading environment since it was established in 2021.
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I believe this is one of the best broker service for forex trading. Anyone can trade with this broker. They are efficient and trading with them is really profitable.
Amazing services and good profit are my reason of keeping this broker service. I have never traded to brokers as good as this before.
Overall, a good experience. I was able to gain good profit out of the signals and I never had any issues with their withdrawals and other processes with this broker. It is a bit expensive but worth my money and time.
It is a good trading broker to deal with. Withdrawals are always hassle-free and customer service are prompt. Support and brokers are both efficient
Smooth deposit and withdrawal process. I did not encounter any issues for the past few months and I am looking forward to see consistency on good services. I had several withdrawals and is so far happy with my profit.
Swift withdrawals and worthwhile trading results. I have no complaints, all services are efficient so far. Price varies depending on the type of instruments to trade. Some are expensive and some are affordable.
Great trading tools. The charts are really helpful. I never had any challenge using the tools, all are user friendly and has simple interface.
Good broker company. They are very professional and skilled in trading forex and cfd’s. I get good profit and good services.
I stay with this broker for more than a year, I have no problem with their services. I am satisfied with my profit and is happy with all of the services. Software maybe a bit confusing but they are always available to help.
They support me all the way and help me gain good profit. Highly commendable broker services.
Smooth transaction including withdrawal. Cool broker and good customer service.
I can trade at a lower cost. They’ve got affordable initial deposit and trading instruments. Signals are much reliable.
Cost-effective trading instruments. I find the pricing fair and the returns good. No problem with the services so far.
Reliable signals and services. I make good profits and I was able remove it quickly. Definitely a good broker.
Wonderful trading platform. It has so many good features to ease up trading, easy to use interface. Good signals and easy withdrawals, too.
I want to say that after I lost some money with my previous trades, I am happy to have recovered thru the help of this broker. They know more about forex. They are good advisers.
Good customer service. Their support are accommodating and helpful, too. I am happy with all my deals and transactions with them.