Xlence is a regulated online trading broker offering its services globally. It provides its traders with over 300 financial instruments, varied account types, educational content and 24/5 multi-lingual support.
This Xlence review explores the standout features that set this broker apart, helping prospective traders more efficiently decide upon it.
1. A choice between four commission-free account types
The first notable observation in the Xlence review is the variety of account options, all of which are impressively commission-free for Forex and Shares with live floating spreads. A $10/Lot commission applies only to Indices, Commodities and Futures.
The spread decreases as you upgrade through the account types and the maximum leverage on all is 1:1000. Base currencies are USD, EUR and GBP and the stop-out level is 20%.
Essential
This appears to be the most basic account type with a minimum and average EURUSD spread of 1.1 and 1.4 respectively. For XAUUSD (Gold) it is 0.23 and 0.25. This is the only account that does not include a dedicated account manager.
Prime, deluxe and ultimate
The upgrade to Prime sees the spread for EURUSD decrease to 0.9 minimum 1.2 average and 0.18/0.20 for Gold. A dedicated account manager is provided to all Prime (and above) account holders.
With an upgrade to Deluxe, the spread for EURUSD further decreases to 0.6 minimum 0.9 average whilst remaining at 0.18/0.20 for Gold.
The Ultimate account is Xlence’s lowest-spread account at 0.4/0.7 for EURUSD. Gold remains the same as before.
2. Free education for all at – Xlence review
Another notable feature observed in the Xlence review is the vast amount of educational content freely available, with just under 60 lessons designed to take one through basic to advanced trading concepts.
The lessons are divided into 4 sub-sections and, generously, they are free not only for registered traders but for anyone visiting the website.
Introduction to Forex
The first batch of 16 lessons introduces novices to the fundamentals of trading and how it has become available to nearly anyone with internet access.
Key concepts such as trade execution, profit and loss calculation, managing spreads and leverage, and the representation of currency pairs are explored.
Fundamental analysis
The next 11 lessons describe how economic news and fundamental factors influence asset values, providing a deeper insight into market dynamics. They explain how the supply and demand of an asset affect the market positions one should adopt in anticipation of these events.
Technical analysis
The technical analysis section contains a further 23 lessons about how the historical price patterns of an asset can be used to predict future price movements. Individuals can acquire the skills necessary to identify price patterns, particularly through charting analysis with graphical tools and mechanical analysis using technical indicators.
Trading Strategies
The final 9 lessons focus on long-term trading strategies that utilise the knowledge attained in all the preceding courses, including how to optimise risk and money management requirements.
3. Move beyond Forex with Futures trading at Xlence review
In addition to the usual currency pairs, commodities, shares and indices that most brokers provide, Xlence offers a pleasant addition in the form of Futures on commodities, indices and energies.
A futures contract is an agreement to buy or sell a particular market at a set price and at a certain time in the future.
Low-margin requirements make trading CFDs on futures especially popular among both beginner and advanced traders since this allows for potentially the same returns using a smaller initial investment.
It also provides flexibility to trade both rising and falling markets, as traders can go long or short.
Whilst traders frequently trade futures as an independent investment, advanced traders commonly use them to hedge similar positions in non-futures markets.
Symbols mentioned on the website include US500 E-mini S&P 500, US30 E-mini Dow($5), US100 E-mini NASDAQ-100, JP225 NIKKEI 225(Dollar) and UK100 FTSE 100.
4. Trade MT4 or WebTrader on any device
Though the MetaTrader4 platform is not new, it remains the most popular choice by a fair distance. This is due to its user-friendly interface, comprehensive charting tools, and customizability.
It offers advanced charting features, a wide range of indicators, and supports automated trading through Expert Advisors (EAs), allowing traders to automate their strategies.
MT4 can be operated as an independent application on PC or Mac, iPhone or Android, or through the web browser of any of the above devices.
The fact that Xlence is an MT4-based broker can be considered a positive sign in terms of stability and reliability. Since the adoption of stricter licensing rules by MetaQuotes, brokers capable of providing MT4 are likelier to be securer choices than those without.
5. Enjoy monthly giveaways and bonuses – Xlence review
Viewing their website, Xlence mentions trading bonuses available on their accounts. However, the Xlence review also extends beyond the information on the website!
Browsing through social media channels, it becomes apparent that the broker enjoys interacting with its traders in various ways.
A high-value prize is gifted to one or multiple lucky winners every month. Prizes in the past have included a Nintendo Switch and a PlayStation 5.
The rules to enter the draws appear to be very simple and do not depend on trading or a fee but rather on referring traders with the aim of expanding Xlence’s social media presence.
Fun facts and quizzes also feature to help their community remain engaged in trading.
Xlence review summary
Xlence appears to be a reputable trading broker offering a user-friendly platform to both beginner and experienced traders.
With competitive spreads and a wide range of tradable assets, including forex, stocks, commodities, and indices, Xlence provides access to diverse financial markets. The broker also offers useful trading tools, such as advanced charting features and educational resources, to support traders in making informed decisions.
With solid customer support, secure transactions, and a variety of account options, Xlence positions itself as a reliable choice for those looking to trade across multiple asset classes.
The above information does not constitute any form of advice or recommendation by London Loves Business and is not intended to be relied upon by users in making (or refraining from making) any finance decisions. Appropriate independent advice should be obtained before making any such decision. London Loves Business bears no responsibility for any gains or losses.
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