Overview of XeOne
XeOne, established in 2023 and headquartered in Seychelles, is an unregulated trading platform offering a diverse range of trading accounts tailored to meet various trader preferences. Despite its lack of recognized financial regulation, XeOne provides access to a wide array of trading instruments, including Forex, metals, cryptocurrencies, energies, stocks, and indices.
The broker's trading platform, VertexFX, supports high leverage options of up to 1:2000, along with varying spreads, allowing traders flexibility in managing their trading positions. One of XeOne's standout features is its selection of account types. From the Cent Account, designed for newcomers with a low minimum deposit, to the Pro Account, tailored for experienced traders, XeOne strives to accommodate a wide spectrum of traders.
Is XeOne Legit？
XeOne is not regulated by any recognized financial authority. This means that the broker operates without the oversight and supervision that regulation provides. Trading with an unregulated broker like XeOne exposes traders to significant risks, as there are no guarantees regarding the safety of funds, fair trading practices, or proper handling of client complaints.
Regulated brokers, on the other hand, are subject to strict regulations and are required to adhere to certain standards and guidelines to protect the interests of their clients. It is generally advisable to choose a regulated broker to ensure a higher level of security and accountability in the trading process.
Pros and Cons
XeOne presents a range of advantages and drawbacks for traders to consider.
On the positive side, the platform boasts a diverse array of trading instruments, accommodating various market preferences. The availability of multiple account types caters to a wide spectrum of trading strategies, while the inclusion of educational resources and tools contributes to traders' knowledge enhancement. Additionally, XeOne's offering of trading bonuses and flexible leverage options can be enticing to some.
However, it's important to approach these benefits with caution due to the absence of recognized financial regulation, which leaves traders exposed to potential risks.
Trading Instruments
XeOne presents a selection of trading instruments spanning various asset categories:
FOREX - Trading CFDs on Forex:
XeOne facilitates trading across more than 100 currency pairs, enabling users to engage with the foreign exchange market.
METALS - Trading CFDs on Metals:
The platform allows for trading in precious metals like gold, silver, copper, and zinc via Contracts for Difference (CFDs).
CRYPTOCURRENCIES:
XeOne provides an avenue for traders interested in the cryptocurrency market. It implies that users can speculate on the price fluctuations of digital assets like Bitcoin, Ethereum, and others.
ENERGIES - Trading CFDs on Energy:
Traders can speculate on the price movements of energy commodities such as crude oil and natural gas through CFDs.
STOCKS - Trading CFDs on Stocks:
XeOne permits trading in stocks through CFDs, offering the opportunity to trade shares without actual ownership.
INDICES - Trading CFDs on Indices:
Traders can engage with stock indices from various global stock exchanges, potentially speculating on their overall performance.
Here is a comparison table of trading instruments offered by different brokers:
Account Types
XeOne offers various account types catering to different trading preferences:
Cent Account:
The Cent Account requires a minimum deposit of USD 10 and features spreads starting from 1.5 pips. This account is suitable for traders new to the market, providing a range of instruments like Forex and metals. It allows a maximum leverage of 1:2000 and offers market execution with no commissions. Traders can work with lot sizes as low as 0.01, and there is an option for swap-free trading.
Standard Account:
The Standard Account demands a minimum deposit of USD 15 and offers spreads starting from 1.3 pips. It is designed for various types of traders, providing access to Forex, metals, cryptocurrencies, energies, stocks, and indices. The account also supports a maximum leverage of 1:2000 and offers market execution with no commissions. Similar to the Cent Account, traders can use lot sizes as small as 0.01 and opt for swap-free trading.
Raw Spread Account:
For the Raw Spread Account, the minimum deposit required is USD 1000. It boasts spreads starting from 0.3 pips and features a fixed commission per lot, with commission rates going up to USD 7. This account category offers market execution and a diverse range of instruments including Forex, metals, cryptocurrencies, energies, stocks, and indices. Traders can utilize a maximum leverage of 1:2000 and enjoy the option of swap-free trading.
Pro Account:
The Pro Account entails a minimum deposit of USD 500 and offers spreads starting from 0.8 pips. It is designed for instant execution and comes with no commission charges. Like other account types, it supports a maximum leverage of 1:2000 and provides access to a range of instruments such as Forex, metals, cryptocurrencies, energies, stocks, and indices. Traders can work with lot sizes as small as 0.01 and also have the option for swap-free trading.
All these accounts offer features like maximum lot sizes of 200, unlimited maximum number of positions, hedged margin at 50%, and margin call at 100%. Additionally, a 20% stop-out level is maintained across all account types. While these account options may provide certain advantages, it's important to note the lack of regulatory information, which could impact traders' decision-making process.
How to Open an Account？
To open an account with XeOne, follow these steps. However, it's essential to keep in mind that XeOne is an unregulated broker. Trading with unregulated brokers carries inherent risks, including potential scams or fraudulent practices. As such, it is crucial to exercise extreme caution and conduct thorough research before deciding to trade with XeOne. Potential traders should be aware of the risks involved and consider seeking advice from trusted sources before opening an account with an unregulated broker.
Visit the XeOne website. Look for the “REGISTER AN ACCOUNT” button on the homepage and click on it.
Sign up on websites registration page.
Receive your personal account login from an automated email.
Select an account type and fill out online application.
Proceed to deposit funds to your account.
Download the platform and start trading.
Leverage
XeOne offers varying leverage options across its different account types, providing traders with the flexibility to amplify their trading positions using a smaller amount of capital. The leverage available to traders depends on the account category and the specific instruments being traded.
For the Cent Account and Standard Account, traders can access a maximum leverage of 1:2000. This high leverage allows traders to control larger positions relative to their account balance. However, it's essential to remember that while leverage can magnify potential profits, it also significantly increases the risk of substantial losses. Traders should exercise caution and have a solid risk management strategy in place when utilizing high leverage.
The Raw Spread and Pro Accounts also offer a maximum leverage of 1:2000. This leverage level provides traders with the opportunity to engage in more substantial trading positions across a wide range of instruments, including Forex, metals, cryptocurrencies, energies, stocks, and indices. It's worth noting that while the availability of high leverage can be attractive, it's important for traders to thoroughly understand its implications and to trade responsibly.
Overall, XeOne's leverage options enable traders to potentially maximize their trading opportunities, but traders should approach leverage with careful consideration of their risk tolerance and trading strategies.
Here is a comparison table of maximum leverage offered by different brokers:
Spreads and Commissions (Trading Fees)
XeOne provides a variety of account types with differing spread and commission structures. Traders should choose an account type based on their specific needs—whether they prefer lower spreads with a commission or broader spreads without any fees.
Cent Account: Offers spreads starting from 1.5 pips and is commission-free, making it ideal for traders seeking a cost-effective and straightforward trading environment.
Standard Account: Features slightly tighter spreads beginning at 1.3 pips, also without any commission, allowing for simple cost management in trading activities.
Raw Spread Account: Tailored for traders who prioritize low spreads, this account offers spreads as low as 0.3 pips with a fixed commission of up to USD 7 per lot, suitable for those looking for competitive trading costs.
Pro Account: Provides spreads starting from 0.8 pips and operates without commission, offering a balance between competitive spreads and commission-free trading.
This flexibility allows traders to align their account choice with their individual trading strategies and cost preferences.
Non-Trading Fees
XeOne charges certain non-trading fees, including an inactivity fee for accounts that have not been active for a specified period. Traders should review the terms regarding how long an account must be inactive to incur this fee and the specific amount charged.
Deposit & Withdrawal
XeOne provides a flexible array of deposit and withdrawal options, catering to global traders by supporting various methods and currencies.
Deposits:
Methods: Includes bank transfers, local depositors or escrow services, and cryptocurrency.
Currencies: Accepts USD, EUR, SGD, INR, and MYR.
Fees: Fees for cryptocurrency deposits are borne by the trader; however, XeOne covers fees for local depositors or escrow services and local online banking deposits.
Minimum Deposits: Cryptocurrency deposits require a minimum of USD 100 or equivalent in other currencies. For local depositors or escrow services and local online banking, the minimum is USD 10.
Withdrawals:
Methods: Traders can withdraw funds via the same methods available for deposits.
Minimum Withdrawals: USD 100 for cryptocurrency and USD 40 for withdrawals through local depositors or escrow services and local online banking.
Trading Platforms
XeOne provides access to the VertexFX trading platform, designed for trading convenience. The platform offers a trading bonus program that grants bonuses based on deposit amounts, account types, and trading activity. It includes a 30% tradable bonus for a minimum deposit of $100 and a 100% margin bonus for a minimum deposit of $1,000. The platform is accessible on desktop and mobile devices through applications available on the Google Play Store and Apple iOS App Store. Additionally, XeOne is developing a social trading feature that allows traders to observe and replicate the strategies of experienced traders. The VertexFX platform aims to offer traders flexibility and value within their trading experience.
Customer Support
XeOne offers customer support through various channels, including live chat, allowing users to interact with representatives for assistance. For further communication, XeOne's address is PSD Building, 2 AlBahr St, Loskia, sripur, jamukara. They can also be reached by phone at Office Telephone: 0029129102320 or Mobile: 000 2324 39493. Email correspondence is another option, with the main email address being support@xeone.com, and inquiries can be directed to the same address.
Educational Resources
XeOne offers an educational resource in the form of a blog, which covers various topics to enhance traders' understanding. The blog includes sections on Company News, Cryptocurrencies, Education, Insights, Market Analysis, Market News, and Technical Analysis. These sections provide traders with valuable insights, analysis, and information related to the financial markets, cryptocurrencies, and trading strategies. The educational resources are designed to help traders stay informed about market trends and developments, ultimately aiding them in making more informed trading decisions.
Trading Tools
XeOne provides traders with a couple of trading tools to assist in their trading endeavors. The platform offers Forex Calculators, which can be beneficial for traders to calculate various aspects of their trades such as pip values, margin requirements, and profit potential. These calculators can aid traders in making more precise trading decisions by providing them with important numerical insights.
Additionally, XeOne features an Economic Calendar, a tool that presents scheduled economic events and announcements that could impact the financial markets. This tool allows traders to stay informed about significant economic indicators, central bank meetings, and other events that might influence market volatility and direction. By using the Economic Calendar, traders can plan their trading strategies around key events and potentially capitalize on market movements resulting from economic news releases.
Bonus
XeOne offers a Bonus Program that provides traders with certain incentives based on their deposits and trading activities. The bonus program includes two types of bonuses: Tradeable Bonus and Margin Bonus.
The Tradeable Bonus offers traders the opportunity to receive a bonus amount based on their initial deposit. Traders can earn a bonus of either 30% or 100% of their deposited funds, depending on the amount deposited. This bonus is tradeable, meaning that traders can use it to open and maintain positions in the market. However, it's important to note that there are specific withdrawal terms associated with this bonus type.
The Margin Bonus is another option provided by XeOne. This bonus is also based on the initial deposit amount and comes in two tiers: a 50% margin bonus for deposits of $100 or more, and a 50% margin bonus for deposits of $1,000 or more. The Margin Bonus is aimed at helping traders maintain their positions by increasing their available margin.
Both bonus types aim to enhance traders' trading capabilities by providing additional funds that can be used for trading purposes. It's important for traders to carefully review and understand the terms and conditions of the bonus program before opting for any bonuses, as there might be specific requirements or restrictions associated with them.
Conclusion
In conclusion, XeOne offers traders a diverse range of trading accounts, accommodating various preferences and strategies. Despite its unregulated status, the platform provides access to multiple trading instruments, flexible leverage options, and educational resources. The availability of trading bonuses and a user-friendly trading platform further adds to its appeal. However, the absence of recognized financial regulation introduces significant risks, including potential fund safety concerns, lack of accountability, and transparency issues.
FAQs
Is XeOne a regulated broker？
No, XeOne is not regulated by any recognized financial authority, which entails potential risks in terms of fund safety and fair trading practices.
What trading instruments does XeOne offer？
XeOne provides access to Forex, metals, cryptocurrencies, energies, stocks, and indices, allowing traders to engage in various market segments.
How can I contact XeOne's customer support？
XeOne's customer support can be reached through live chat, email (support@xeone.com), or phone (Office Telephone: 0029129102320, Mobile: 000 2324 39493).
What are XeOne's account types？
XeOne offers Cent, Standard, Raw Spread, and Pro accounts, each catering to different trading styles and experience levels.
What trading platform does XeOne offer？
XeOne offers the VertexFX trading platform, available on desktop and mobile devices, along with upcoming social trading features.
2024-07-26 16:16
2024-06-04 14:41
