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xPartners Review - is it scam or safe?

xPartners Review - is xpartners.com scam or good forex broker?

RATING: 2.7 / 0 REVIEWS xPartners
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Trading Accounts and Conditions

 

Trading account  Min. deposit Max. leverage Spread
Standard  $100 1:100 from 3 pips

 

CySEC-licensed xPartners offers a single trading account type and access to the popular MetaTrader5 platform.  If you are about to open an account with them, be sure to read this review first. We have highlighted both the negative and positives sides of this broker.

 

 

xPartners Advantages

 

Licensed by CySEC

When we weighted the advantages of xPartners, one that definitely stands out is that the broker is authorized and regulated by one of the most popular EU financial regulators -  the Cyprus Securities and Exchange Commission (“CySEC”).

 

Actually, xPartners is one of the several brands of Cypriot Investment firm Goldenburg Group Limited. The company is licensed by CySEC since 2014 and also operates CFD World, TopTrader, TopForex, FxGlobal, and TradeCentrum.

 

Forex brokers authorized by CySEC have to abide by a number of rules, including those introduced on a EU level, which provide significant assurance for the security of clients’ funds. These include certain capital adequacy requirements, segregation of clients’ funds, reporting transactions on a regular basis, provision negative balance protection, as well as compensation scheme coverage (to a maximum of €20,000).

 

Access to MT5, solid leverage

xPartners supports the latest MetaQuotes software, MetaTrader5 (MT5), and that is also considered as a strong selling point. Just like its predecessor, the MetaTrader4, the MT5 features an excellent pack of advanced charting tools, many market indicators and easily customizable trading bots, with the help of which one can easily run automated trading sessions.

 

 

>> Check out the top MT5 Brokers <<

 

 

Furthermore, the broker leverage of up to 1:100 to retail clients classified as professional, and that is another possible benefit for those willing to risk more and using higher leverage ratios. That being said, we have to mention that ESMA’s product intervention measures envisage a leverage cap of 1:30, however most brokers found a way to circumvent this rule.

 

Various CFDs

When we tested the broker’s MT5, we became aware that xPartners offers quite a choice of financial instruments. Its product portfolio includes many forex pairs, as well as CFDs on indices, commodities, precious metals and shares.

 

 

xPartners Disadvantages

 

High spreads

As announced on its website, xPartners’ EUR/USD spread is around 3.0 pips, which is not lucrative at all. We also tested the broker’s demo MT5 and really found the spread for this pair really floating around 3 pips.

 

 

Most brokers offer spreads in the range of 1.0 – 1.5 pips for this pair, which is two times lower, so you might check some of their offers.

 


>> See the real-time spreads of 10 major brokers <<

 

 

Additional fees

When registering with xPartners, customers agree to some additional fees, most of which are common for forex brokerages – swaps, dormant fee (40 EUR monthly), etc. We always advise our readers to go through these clauses carefully, as sometimes they contain pretty nasty provisions written in small print. 

 

xPartners’ Terms and conditions also feature management fee for folding digital stocks, and some CFDs are also levied with Financial Transaction Tax (FTT).

 

 

Only bank wire withdrawals, minimum amount set

It seems that clients of xPartners cannot withdraw less than $250, and that the only payment method they can use for withdrawals is bank wire transfer. In our view, this is quite restrictive.

 

 

 

Conclusion

 

xPartners is a well-regulated broker that offers trading in wide range of financial assets on the industry leading MT5, however its spreads are not very favorable. Besides, clients of the broker cannot withdraw less than $250, and are subjected to some extra fees.

 

Although this broker seems reliable, there might be better trading partners for those seeking a good forex broker in the EU.

 

 

>> Find the best brokers in Cyprus <<

 

 

To sum up our review of xPartners in a few words:

 

Pros Cons
CySEC license High spreads
MT5 available Additional fees
Solid leverage Only bank wire withdrawals, minimum amount set

 

Latest news about xPartners
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Traders` reviews for xPartners

Spread

Pros

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Slippage

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Cons

 

 

Requotes

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Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

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