Xlence is a new company that’s growing in popularity, and as such, the number of Xlence broker reviews is growing every day.
This is a double-edged sword. On one hand, it makes it easier to learn about the broker, but on the other, it may confuse traders, depending on when the reviews were released and when they sourced their information.
As such, we provide this article for the most up-to-date, relevant, and detailed information. Here, traders will find all relevant details pertaining to the brokerage, including accounts, platforms, instruments, security, and more.
Xlence Broker Reviews: General Trading Services
Xlence is a forex and CFD broker. This means its service includes other assets on top of forex, of course, without underlying ownership.
It offers two top-tier platforms in MT4 and MT5. This gives traders a chance to choose how they want to experience their service and a progression path from the simpler to the more complex platform.
There are three accounts present on Xlence, each being an upgrade over the others. This makes the experience slightly linear but also has the upside of making it universal. In other words, traders won’t need to invest more than they are comfortable with just to unlock key features.
Lastly, Xlence boasts many supplementary tools and promotions, including curated news and AI insights from Trading Central.
While most of this can be found in other Xlence broker reviews, it’s important for us to give a starting point for traders to see if the broker at least loosely matches what they are looking for. So, without further delay, let’s get into the practical aspects of using Xlence as your broker.
Is Xlence Safe?
In the brokerage world, “safety first” are words to live by. Shady brokers can cause so much harm to traders who get caught in their web, and this often turns them away from trading altogether.
That’s why Xlence broker reviews are here to help with your due diligence. Xlence, luckily, is a regulated broker, and one that employs all standard safety procedures. This means KYC and fund segregation are in effect, providing a more stable trading environment.
On top of that, the brokerage is highly rated on Trustpilot and other trust review websites, and there seem to be no serious allegations against its integrity. Upon checking the broker’s history, there isn’t anything that would cause alarm.
It also seems to be oriented towards the long term, with gradual but effective updates to the service and active community engagement. Altogether, the broker looks like a sound company, intent on progressing by gathering a community of loyal traders.
Xlence Broker Reviews: Instruments
The next important part of a broker is that it provides the assets that traders want to trade. Since it is a forex broker, this primarily pertains to currency pairs. However, it’s also good to have a varied CFD selection for portfolio diversification and experimentation purposes.
Luckily, the broker provides a varied enough collection of assets to satisfy traders with various tastes. Its instrument library includes:
- Forex: All majors and minors, a good selection of exotics.
- Indices: Top funds, including the S&P 500, Dow Jones, and Nasdaq.
- Stocks: Instruments from leading US companies like Tesla and Amazon, and firms across the world.
- Commodities: Oil paired with EUR and USD, as well as everyday goods like coffee, sugar, and cocoa.
- Metals: Commonly traded precious metals like gold, silver, and palladium.
- Futures: Speculative and hedging instruments based on indices.
As you may have seen in Xlence broker reviews, futures are particularly interesting here, seldom offered by brokers. Traders who feel confident in their predictions may find a unique offer here.
Platform variety on Xlence
As noted earlier, Xlence offers the MetaTrader 4 and MetaTrader 5 platforms. Both are well known, with the former being more suitable for beginners, and the latter boasting more complex features.
While this information is available outside of Xlence broker reviews, it’s valuable to know what each platform does in more detail. Here’s the rundown.
MT4
- Single-threaded strategy tester.
- MQL4 programming language.
- Custom indicators, scripts, and Expert Advisors (EAs).
- Supports hedging only.
- 9 timeframes from 1 minute to 1 month.
- 30 built-in technical indicators. (trendlines, shapes, Fibonacci tools, channels, etc.).
MT5
- Multi-threaded strategy tester with cloud functionality.
- MQL5 programming language.
- Custom indicators, scripts, and Expert Advisors (EAs).
- Supports both hedging and netting.
- 21 timeframes with more increments but the same range.
- More order types (6 types: includes Buy Stop Limit & Sell Stop Limit in addition).
- 38 built-in technical indicators.
- 44 graphical objects.
- Economic calendar integration.
- Depth of Market (DOM).
From this part of Xlence broker reviews, it may sound like MT5 is the vastly superior option. However, while it is more powerful, it is more complex, and its features come in much later in the trading journey. As such, traders who feel more comfortable in MT4 shouldn’t feel like they are missing out.
Account Options on Xlence
Xlence accounts are relatively straightforward, being strict upgrades over one another and having access to the full service. As traders progress, they get tighter spreads, making their funding more optimal.
The only somewhat significant difference is that the lowest account doesn’t have a dedicated manager, while the others do. Besides that, they all have:
- Flexible leverage.
- Min Lot Size: 0.01.
- Lot increment: 0.01.
- Stop out: 20%.
- A Swap-Free Upgrade.
Xlence Broker Reviews: Bonuses
As the final service segment, Xlence offers two bonuses, one for the MENA region and one available everywhere else
MENA
- 20% Welcome Bonus – 20% trading credits on initial deposit and all redeposits, maxes out at USD 2,000 per trading account.
Non-MENA
- 100% Welcome and 50% Reload Bonus – 100% of the initial deposit (max. USD 1,000) and 50% on every redeposit (max. $6,000 per account).
Note that trading bonuses aren’t withdrawable, and that the bonus funds shrink in proportion to the withdrawals traders make.
The Final Verdict
As seen in Xlence broker reviews, it is an extremely well-structured broker. And while it is still fresh, that gives it more time to engage with its customers and take a more personal approach. It makes use of that with excellent communication and constant service upgrades.
Traders searching for a new trading hub may want to consider checking out Xlence.
All trading involves risk. It is possible to lose all your capital. You should consider whether you can afford to take the high risk of losing your money.
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