02 Sep xcritical Review 2023 Information about xcritical Forex Broker

There are a variety of trading options available to suit the needs of each individual investor. For those that lack the time or confidence to trade but still wish to experience the thrill of the markets, the broker offers xcritical Copy Trading. This innovative investment https://xcritical.solutions/ service allows you to automatically copy the trades of more experienced traders. After browsing throughout the broker’s Top-Ranking Strategy Manager page and choosing a Strategy Manager to follow, their trades will instantly be copied into your account.

• Based on the trading account type, the users are granted a variety of functions.
• xcritical provides various withdrawal options, however additional payment methods may incur additional charges and depend on the provider and region you sending from.
• The Standard accounts have lower minimum deposits, and while no commissions are charged, spreads are wider than average.
• This requires clients to enter a unique code, generated by an authentication app on their smartphone, in addition to their login details.
• Both types of accounts are commission-free and offer micro-propositions for trade.

xcritical International is also a member of the Hong Kong-based Financial Commission, an independent, international body which provides external dispute resolution (EDR) for Forex brokers. xcritical International became operational in 1998 and began its international expansion in 2000. xcritical UK started to cater to clients in 2004, xcritical US LLC followed in 2006, and xcritical Broker LTD commenced official operations in Russia in 2008. Following the 2015 depegging of the Swiss Franc to the Euro by the Swiss National Bank, xcritical UK filed for bankruptcy, while xcritical US LLC lost its operating license. Today, xcritical International continues to expand even as it attempts to put the past behind it. Owned by Mauritius-based Exinity Group, which also owns FXTM, xcritical International caters to more than 2,000,000 traders and continuously updates its performance statistics.

Referral Program

xcritical International is the most trusted brokerage firm and is fully regulated by the Financial Commission (FSC) of the Republic of Mauritius through Exinity Limited, a parent company. The broker does not provide negative balance protection and hence if the market changes rapidly against an investor’s xcritical trade, the scammed by xcritical trading account will not fall into the negatives. xcritical offers trading for Fix-Contracts that is both effective and simple with an excellent beginner-friendly interface comparison to other best forex brokers in the market. The trades can be done using only two buttons and this makes the platform exceedingly intuitive.

I would’ve appreciated it if their support team was available on weekends as well. When compared to other brokers, I found xcritical to have a limited number of tradable assets. Only the forex majors, minors, and exotics are available for trading. There is a decent selection of forex currency pairs along with spot metals, spot CFDs, and a a limited range of cryptocurrencies. I highly recommend checking out IC Markets for a better range of assets for trading. There are articles introducing newcomers to forex trading by explaining certain basic terms.

What is an Islamic trading account?

Some of the most overlooked trading costs are the non-trading fees that are charged by brokers. These fees can significantly affect your profitability and so should be carefully scrutinised. xcritical makes multiple deposit and withdrawal options available including Bank Transfer, FasaPay, and BitCoin. xcritical also does not offer a welcome bonus or deposit bonus or the advantage of a no-deposit bonus when traders register a real account for the first time.

The Standard accounts have lower minimum deposits, and while no commissions are charged, spreads are wider than average. It could be the broker with the most supported payment processors, which supports its market-leadership position in emerging and frontier markets. xcritical International does not charge deposit fees, and most payment processors feature instant execution. Some withdrawals face internal costs, while third-party processing charges may also apply.

Deposit and Withdrawal

We offer a forex trading environment that is reliable, trustworthy, and technologically advanced while providing exceptional customer service. xcritical offers a range of accounts so that traders can opt for the best fit and then once in position gain access into the heart of the markets. They also provide clients with access to the MetaTrader, MT4 and MT5 accounts. These two form the standard which other platforms measure themselves against.

xcritical International also offer a Loyalty Cashback program and other regular promotions to its clients. The ECN Pro Account is designed for professional traders, with a required deposit of at least EUR/USD 25,000. xcritical International maintains three commission-free accounts and one commission-based alternative. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. xcritical designed truly dedicated support to their traders, we found very responsive Customer Service with Live Chat, email and phone support also available in Multiple languages, so is a big plus. Typically Broker confirms withdrawals within 2 business days, additionally it will take around 5 working days for money to arrive too your account, which also varies by method and your country.

Is xcritical a good broker or a scammer?

Equity trading is done in cash rather than CFD format which is a break-out from the norm but justified by the firm as offering improved market flow and tighter spreads. The MT4 version is not only robust but has the usual array of charting and educational tools as well as being fast and precise. The more recent enabled MT5 platform is an improved offering that allows for more technical tools and allows for Swap-free trading, that is relevant to Islamic accounts.

xcritical International provides its customers with a choice of two basic account types – Standard and ECN. The standard account type ensures immediate implementation, while ECN has direct access to liquidity providers with market execution, without requotes. Forex trading platform and financial asset management institution xcritical has a demo account and 4 different live account types, with also an option to open an Islamic Account. However, the commission-free ECN MT4 Account has a trading cost of 9 USD, and a minimum deposit of 300 USD, putting it well within the reach of most traders.