XPOfx offers its clients 4 account types, all of which offer variable spreads, commission-free trading and leverageup to1:100 on MetaTrader 4 and MetaTrader 5. Micro tradeable lots are offered solely on the Standard account, however the spreads offered on this account type are far from being competitive.
There is no information about Islamic (swap-free) accounts or PAMM services on this broker’s website and in fact, the information is rather scarce.
Actually, we find the minimum initial deposit of $500 required by XPOfx too high for a non-regulated brokerage. Besides, spreads starting out at 4 pips for the EUR/USD pair is rediculously high, as most brokers provide spreads within the range of 1.0 – 1.5 pips for this pair.
The Company. Security of Funds
Info XPO Solutions Ltd.
XPOfx is a relatively new forex broker that offers online trading in more than 20 currency pairs and precious metals on MetaQuotes’ platforms. According to its website, Info XPO Solutions Ltd., the company behind the brand, is headquartered in the United Arab Emirates and is registered in Cyprus. Previously the broker has been registered in the Seychelles.The bad news is that it is not regulated by CySEC, nor by any other authority.
Obviously, XPOfx is not regulated. Also, its website is not very informative and customer support is irresponsive. That is why we suggest you seek another broker that is licensed and offers more extensive product portfolio.
Like most brokers, this one also supports the MetaTrader 4 (MT4) platform, as well as its successor, MetaTrader 5. Both platforms are available solely as PC downloadable versions.
MT4 is preferred by most traders, because it is equipped with advanced charting package, a number of technical indicators, Expert Advisors (EA) and extensive back-testing options. MT4 has been around for more than 10 years and it seems its popularity is not waning yet, although MetaQuotes intends to phase it out and focus on MT5.
As most MT4’s indicators and Expert Advisors (EA) are not supported on the MT5 platform, the latter is still in the shadow of its predecessor, although lately it gained a momentum (as the hedging option was finally added to it, along with other enhancements).
Methods of Payment
XPOfx offers its clients the following payment methods: bank wire transfer and via credit/debit cards, as well as e-wallets such as Skrill, Neteller, Perfect Money and Bitcoin.
The broker states on its website that withdrawals are processed within one working day.
XPOfx is a non-regulated brokerage, whose offerings are limited to forex and precious metals, and besides, its spreads are too high. Popular financial instruments such as CFDs on indices and shares not available. XPOfx claims to be a pure NDD broker, however one cannot be sure, as no authority is supervising its activity.
XPOfx Review Conclusion
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