XE Prime is an international automated forex broker that is regulated by different regulatory authorities depending on the region it is activated. In the EEA, XE Prime is regulated by the Cyprus Securities and Exchange Commission (CySEC). Outside the EEA, XE Prime is regulated by the Vanuatu Financial Services Commission (VFSC) and the National Bank of the Republic of Belarus (NBRB).
The content of this review refers to the products, services, and information offered via the domain: https://www.xeprime.com/, which complies with the regulatory requirements of authorities outside the EEA.
As many already know, forex trading can be difficult and risky. There are no assurances that you will gain returns from trading or make profitable executions, as there is always a chance of sustaining sizable losses. In addition to these risks, investors can face challenging circumstances if they trade with an unreliable broker.
XE Prime, however, has found a way to combat this, by bringing into the trading sphere a new kind of brokerage platform that is automated and governed solely by its users. Through its compliance with several policies–including Anti-Money Laundering, Cookies, Withdrawal Policies, Complaints Handling Procedures, etc. that are in line with international financial codes of conduct; XE Prime also maintains the highest levels of protection, transparency, and trading services for its users.
Overall, the brand strives to make trading a convenient and secure experience, for investors of all types and levels. Its user-friendly internal trading platform is customizable to suit each investor’s specific trading volume and preferences and does not require that traders have specialized or prior trading knowledge or experience to use it effectively.
In collaboration with top-tier service providers, this regulated broker provides the following attributes to its users, amongst others:
- More than 500 tradable assets
- Materials and resources for trading education
- Useful trading tools and ideas
Traders can use XE Prime’s materials, trading tools and educational resources to further their trading knowledge, which can aid them in managing their trading journey more effectively. This can allow them to make more informed trading decisions–though it still does not 100% guarantee profitable trades always.
Additionally, investors may employ XE Prime’s free trading ideas and analysis as market indicators. Doing so can allow investors to concentrate solely on the trading process as a lot of analysis is managed for them.
Overall, XE Prime strives to provide measures that are helpful to investors who are prone to or concerned about losing their invested capital due to a lack of knowledge and experience in financial markets.
Pros & Cons
Every company has both pluses and minuses to them. XE Prime in no way claims to be without fault. However, as shown by the table below, it is clear to see that the pros of this company greatly outweigh their cons.
|Inhouse, intuitive platform
|No use of a known external platform like MetaTrader 5
|Comprehensive internal trading academy
|Simplicity of platform may not be appreciated byr more experienced traders
|Above 500 assets to trade
|Exclusion of The United States, Israel, Iran, Afghanistan, and other high risk countries/regions
|50 $ Minimum deposit
|No deposit/withdrawal fees
|Quick withdrawal process
|Up to 5 real accounts
|Platform tutorial for a demo account
|Unlimited balance fills for a demo account
Key Features & Highlights
The below table highlights the most prominent features and highlights of the XE Prime online trading platform.
|Countries of Regulation
|Cyprus, Vanuatu, and Belarus
|Forex, CFD, and Crypto
|Opening of Account Timeframe
|Deposit via Credit/Debit Card
|Deposit via Electronic Wallet
|Deposit via Cryptocurrency
Unlike other brokers, XE Prime does not use third-party platforms like Metatrader 5 or MetaTrader 4. Instead, it offers a visually appealing in-house trading platform specifically designed to provide each investor with a more personalized trading experience.
The good news is that you do not need to be a trading expert to start using the XE Prime platform. Even traders with little financial markets experience or knowledge are able to execute trades with this intuitive and easy to navigate platform. This is because the platform is designed with a user-friendly interface, through a simplified side menu, multiple chart types and options, convenient catalog of searchable tradable assets, multiple analytical and education tools and references, and numerous customization features such as the Watchlist and dark or light modes. Another benefit of the XE Prime platform is that it is available in six languages: English, Italian, German, Portuguese, Russian, and Spanish.
XE Prime’s repertoire of tradable instruments is extensive and ever growing as shown below. Despite this extensive list, every investor should still be aware that trading these products involves risk, necessitates knowledge of the financial market, and calls for caution. Ultimately, any and all trading decisions, no matter the product, are solely up to each trader alone as XE Prime does not influence them in anyway.
*The below list is in no way comprehensive
|Number of Assets
|Commodities – Agriculture
|Commodities – Financial
|Commodities – Energies
|Equities – Belgium
|Equities – Finland
|Equities – France
|Equities – Germany
|Equities – Italy
|Equities – Spain
|Equities – USA
Here, we will go over the procedure of opening an account with the broker and specific requirements to do so.
Depending on their experience, knowledge, and preferences, XE Prime investors can choose between real and demo accounts. Yet no matter the type of account one wishes to create, doing so with XE Prime is an effortless process that takes only a few minutes. Anyone over the age of 18 who is financially stable and capable is eligible to open an account with the broker potentially. To do so, one is required to fill out some personal information consisting of their full name and email.
Demo Accounts allow traders to begin and practice trading before risking their own money. This is accomplished by the company providing its users with an unlimited “pretend balance” of funds to trade with. Through this type of account, users can open positions, apply limit orders, and have almost complete access to XE Prime platform’s features. Investors could also practice using the demo account’s free platform tutorials.
To establish a real account, users are requested to create an account with a password and complete a registration process consisting of submitting personal and financial information as well as identification documents such as proof of identity, proof of address, and proof of payment. These procedures are required to comply with the broker’s KYC policy.
Through XE Prime’s real accounts, investors are required to deposit their own funds with the company in order to start trading. Once done, one can practice multi-asset trading and open up to five trading accounts. This option allows one to experiment with different assets to see which ones could give them the highest returns, while also assisting them in managing trading risk through portfolio diversification. Users have access to over 500 assets and have use of XE Prime’s free trading ideas supplied by the broker’s third-party market information providers.
Xeprime Deposit & Withdrawal Processes
Another feature of this broker that needs to be mentioned is XE Prime’s numerous deposit and withdrawal methods. As they rely on the transaction services of tier-one licensed international financial providers, XE Prime has thus distinguished itself as a top ranking brokerage firm.
Through them, users are able to deposit funds via major credit/debit cards, international bank wire transfers, cryptocurrency exchanges, and other alternative payment methods such as Perfect Money, Jeton, Skrill, Neteller, and others.
As for withdrawals, XE Prime always strives to reimburse its users whenever a valid amount of money is requested as a withdrawal. In order to process a withdrawal, certain criteria must be met by a user’s account to facilitate it such as, but not limited to:
- Withdrawals can only be for amounts that are not required for margin, credit, or bonus purposes;
- The user’s account must be deemed fully KYC verified/compliant.
As the company works with various payment providers and financial institutions, each withdrawal method has their own differentiating minimum or maximum amounts as well as processing times. Though generally speaking, their withdrawals are processed within 3-5 business days.
In order to protect all parties against fraud and minimize the possibility of money laundering and/or terrorist financing, XE Prime only processes withdrawals back to the source of the original deposit method, whenever applicable.
Finally, it must be noted that XE Prime refrains from charging any fees on both deposits or withdrawals.
Research & Education
Traders have access to XE Prime’s market research tools and trading signals to help them identify market opportunities and act appropriately when necessary. Such features are conveniently located within the platform itself, avoiding being redirected to outside pages. However, users who decide to employ the use of their signals should remember that it is ultimately up to them to decide whether to buy or sell any assets based on such given information.
Investors also gain access to XE Prime’s internal trading academy if they need or want to expand their understanding of the financial markets. They have free access to educational resources like videos, e-books, courses, glossaries, and more on essential trading topics such as technical and fundamental analysis, trading ideas, news updates, chart types, introductions to the industry, risk management policies, etc.
It is important to note that any and all provided signals, ideas, content, information, etc. by XE Prime should not be taken as direct investment advice nor as a guarantee for profitable and successful trades, as they are merely indicators and are for informational and educational purposes only.
Although it might not result in profitable trades, forex education is crucial for traders because it can help investors understand and get the most out of this complex world.
Most investors are already aware of how risky it is to trade in the foreign exchange market and that returns on investments depend on various factors. That being said, it must be inherently understood that even the most trustworthy of brokers cannot guarantee profits and successful trades. As such all traders, even those of XE Prime must maintain that there is always a possibility of losing some if not all capital when trading the types of products, they offer.
Yet, due to the broker’s regulation and monitoring, it can be said that XE Prime strives to protect its clients’ funds. This is done through the company’s policy of holding client funds separate from their own through what is known as segregated accounts. Doing so ensures that user funds are not held together with those of the business’ and therefore are not subject to audits, repossession, etc. in case of the business’ default, insolvency, or bankruptcy. This policy along with others makes trading with XE Prime a more secure experience.
The company also provides its users with various risk management measures that clients can employ if they wish to help protect their accounts from sustaining substantial losses. Such measures include, but are not limited, to limit orders such as stop-losses and take-profit executions. These actions allow users to place limits on their trades that force the trade to close if they reach the predetermined threshold the user implements.
Through such measures and others, it is clear to see how XE Prime strives to protect its users, their accounts, and capital – all in effort to provide the best trading experience possible.
As seen through this extensive review, XE Prime comes out as a reliable and secure forex broker. Its compliance with numerous regulatory bodies, risk management policies, various deposit and withdrawal methods, and myriad of resources present its client base with an easy yet secure trading environment. Hence, it is no wonder why they have adopted the motto, “Trading for Everyone”, as any trader with any level of experience can use them.
Visit https://int.xeprime.com/account/first-choose-trading-mode if you want to learn more about trading with this broker.
XE Prime Overview
What Is Regulation?
Forex regulation is therefore all about consumer protection. Regulated Forex brokers are less likely to cheat their clients and where such infractions happen, regulators are empowered by the laws of their respective jurisdictions to apply appropriate sanctions.
|VFSC, CySEC, NBRB
What is Base Currency?
In the forex market, currency unit prices are quoted as currency pairs. The base currency – also called the transaction currency - is the first currency appearing in a currency pair quotation, followed by the second part of the quotation, called the quote currency or the counter currency. For accounting purposes, a firm may use the base currency as the domestic currency or accounting currency to represent all profits and losses.
|GBP, USD, EUR
|Type Of Brokers
There are two types of brokers: regular brokers who deal directly with their clients and broker-resellers who act as intermediaries between the client and a larger broker. Regular brokers generally are held in higher regard than broker-resellers.
What is Trading Platform?
A currency trading platform is a software interface provided by currency brokers to their customers to give them access as traders in the Forex markets. This may be an online, web-based portal, mobile app, a standalone downloadable program, or any combination of the three.
|In House WebTrader
|English, Portuguese, Arabic, Russian, Spanish
|Acc Funding Methods
|Skrill, Neteller, Wire transfer, WebMoney, Visa Card, Master Card, PayPal, Bitcoin
|Acc Withdrawal Methods
|Skrill, Neteller, Wire transfer, WebMoney, Perfect Money, Visa Card, Bitcoin, PayPal
|2.99% + $0.30 per transaction
|2.95% + $0.30 per transaction
|1% - 4% of the transaction amount
|0.8% - 2.5% of the transaction amount
|1.9% - 2.9% of the transaction amount
|1.9% - 2.9% of the transaction amount
|2.9% + $0.30 per transaction
|Varies depending on the exchange rate
Trading Account Options
Leverage is the use of borrowed funds to increase one's trading position beyond what would be available from their cash balance alone. ... Forex traders often use leverage to profit from relatively small price changes in currency pairs. Leverage, however, can amplify both profits as well as losses.
What Is Mini Account?
A forex mini account is a foreign exchange (FX) account which allows beginner traders to enter the currency market using smaller size (mini lot) positions and trading quantities, thus lowering the funds at risk and limiting potential losses.
What Is Segregated Account?
Segregated account is an important term in the context of Forex trading in which a broker holds their client funds in segregated (separate) accounts that are different from the broker's core banking account. Segregated accounts are used to differentiate between the broker's working capital and its client investments.
|Free Demo Accounts
What Is Managed Accounts?
A managed forex account is where a professional trader/money manager manages the trading on the clients' behalf. The account is made up of a personalized portfolio owned by a single investor. The portfolio and account is handled accordingly to the investors needs.
What Is Islamic Account?
An Islamic Forex account is a halal trading account that is offered to clients who respect the Quran and wish to invest in the Islamic stock market following the principles of Islamic finance. ... As Sharia law prohibits the accumulation of interest, traders with Islamic accounts do not pay or receive interest rates.
Contact Information & Support
|24 Hours Support
|Support During Weekends
|Govant Building, Kumul Highway,P.O.Box 1276, Port Vila, Republic of Vanuatu
XE Prime Trading Features
Spreads And Commission
What Is Spreads?
The forex spread is the difference between a forex broker's sell rate and buy rate when exchanging or trading currencies. Spreads can be narrower or wider, depending on the currency involved, the time of day a trade is initiated, and economic conditions.
What Is Hedging?
Hedging with forex is a strategy used to protect one's position in a currency pair from an adverse move. It is typically a form of short-term protection when a trader is concerned about news or an event triggering volatility in currency markets. There are two related strategies when talking about hedging forex pairs in this way. One is to place a hedge by taking the opposite position in the same currency pair, and the second approach is to buy forex options.
What Is Scalping?
Scalping in the forex market involves trading currencies based on a set of real-time analysis. The purpose of scalping is to make a profit by buying or selling currencies and holding the position for a very short time and closing it for a small profit.
What Is Indices?
The indices track the underlying prices of the currency pairs within that index. If the individual forex prices in that index increase, then the value of the index will go up. Conversely, if the individual FX prices decrease, then the value of that index will fall.
What Is Commodities?
The commodity pairs, or commodity currencies, are those forex currency pairs from countries with large amounts of commodity reserves. ... Traders and investors looking to gain exposure to commodity price fluctuations often take positions in commodity currency pairs as a proxy investment to buying commodities.
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