XE Prime is an international automated forex broker that is regulated by different regulatory authorities depending on the region it is activated. In the EEA, XE Prime is regulated by the Cyprus Securities and Exchange Commission (CySEC). Outside the EEA, XE Prime is regulated by the Vanuatu Financial Services Commission (VFSC) and the National Bank of the Republic of Belarus (NBRB).
As many already know, forex trading can be difficult and risky. There are no assurances that you will gain returns from trading or make profitable executions, as there is always a chance of sustaining sizable losses. In addition to these risks, investors can face challenging circumstances if they trade with an unreliable broker.
XE Prime, however, has found a way to combat this, by bringing into the trading sphere a new kind of brokerage platform that is automated and governed solely by its users.
Through its compliance with several policies–including Anti-Money Laundering, Cookies, Withdrawal Policies, Complaints Handling Procedures, etc. that are in line with international financial codes of conduct; XE Prime also maintains the highest levels of protection, transparency, and trading services for its users.
Overall, the brand strives to make trading a convenient and secure experience, for investors of all types and levels. Its user-friendly internal trading platform is customizable to suit each investor’s specific trading volume and preferences and does not require that traders have specialized or prior trading knowledge or experience to use it effectively.
In collaboration with top-tier service providers, this regulated broker provides the following attributes to its users, amongst others:
- More than 500 tradable assets
- Materials and resources for trading education
- Useful trading tools and ideas
Traders can use XE Prime’s materials, trading tools and educational resources to further their trading knowledge, which can aid them in managing their trading journey more effectively. This can allow them to make more informed trading decisions–though it still does not 100% guarantee profitable trades always.
Additionally, investors may employ XE Prime’s free trading ideas and analysis as market indicators. Doing so can allow investors to concentrate solely on the trading process as a lot of analysis is managed for them.
Overall, XE Prime strives to provide measures that are helpful to investors who are prone to or concerned about losing their invested capital due to a lack of knowledge and experience in financial markets.
Key Features & Highlights
The below table highlights the most prominent features and highlights of the XE Prime online trading platform.
|Countries of Regulation||Cyprus, Vanuatu, and Belarus|
|Products Offered||Forex, CFD, and Crypto|
|Opening of Account Timeframe||Immediately|
|Minimum Deposit||50 $|
|Deposit via Credit/Debit Card||Available|
|Deposit via Electronic Wallet||Available|
|Deposit via Cryptocurrency||Available|
Unlike other brokers, XE Prime does not use third-party platforms like Metatrader 5 or MetaTrader 4. Instead, it offers a visually appealing in-house trading platform specifically designed to provide each investor with a more personalised trading experience.
The good news is that you do not need to be a trading expert to start using the XE Prime platform. Even traders with little financial markets experience or knowledge are able to execute trades with this intuitive and easy to navigate platform.
Here, we will go over the procedure of opening an account with the broker and specific requirements to do so.
Depending on their experience, knowledge, and preferences, XE Prime investors can choose between real and demo accounts. Yet no matter the type of account one wishes to create, doing so with XE Prime is an effortless process that takes only a few minutes. Anyone over the age of 18 who is financially stable and capable is eligible to open an account with the broker potentially. To do so, one is required to fill out some personal information consisting of their full name and email.
Demo Accounts allow traders to begin and practice trading before risking their own money. This is accomplished by the company providing its users with an unlimited “pretend balance” of funds to trade with. Through this type of account, users can open positions, apply limit orders, and have almost complete access to XE Prime platform’s features. Investors could also practise using the demo account’s free platform tutorials.
To establish a real account, users are requested to create an account with a password and complete a registration process consisting of submitting personal and financial information as well as identification documents such as proof of identity, proof of address, and proof of payment. These procedures are required to comply with the broker’s KYC policy.
Through XE Prime’s real accounts, investors are required to deposit their own funds with the company in order to start trading. Once done, one can practice multi-asset trading and open up to five trading accounts. This option allows one to experiment with different assets to see which ones could give them the highest returns, while also assisting them in managing trading risk through portfolio diversification. Users have access to over 500 assets and have use of XE Prime’s free trading ideas supplied by the broker’s third-party market information providers.
Xeprime Deposit & Withdrawal Processes
Another feature of this broker that needs to be mentioned is XE Prime’s numerous deposit and withdrawal methods. As they rely on the transaction services of tier-one licensed international financial providers, XE Prime has thus distinguished itself as a top ranking brokerage firm.
Through them, users are able to deposit funds via major credit/debit cards, international bank wire transfers, cryptocurrency exchanges, and other alternative payment methods such as Perfect Money, Jeton, Skrill, Neteller, and others.
As for withdrawals, XE Prime always strives to reimburse its users whenever a valid amount of money is requested as a withdrawal. In order to process a withdrawal, certain criteria must be met by a user’s account to facilitate it such as, but not limited to:
Withdrawals can only be for amounts that are not required for margin, credit, or bonus purposes;
The user’s account must be deemed fully KYC verified/complaint.
As the company works with various payment providers and financial institutions, each withdrawal method has their own differentiating minimum or maximum amounts as well as processing times. Though generally speaking, their withdrawals are processed within 3-5 business days.
In order to protect all parties against fraud and minimize the possibility of money laundering and/or terrorist financing, XE Prime only processes withdrawals back to the source of the original deposit method, whenever applicable.
Finally, it must be noted that XE Prime refrains from charging any fees on both deposits or withdrawals.
More information on their deposits and withdrawals can be found on their website or through their legal documents such as in their “Terms and Conditions”.
Research & Education
Traders have access to XE Prime’s market research tools and trading signals to help them identify market opportunities and act appropriately when necessary. Such features are conveniently located within the platform itself, avoiding being redirected to outside pages. However, users who decide to employ the use of their signals should remember that it is ultimately up to them to decide whether to buy or sell any assets based on such given information.
Investors also gain access to XE Prime’s internal trading academy if they need or want to expand their understanding of the financial markets. They have free access to educational resources like videos, e-books, courses, glossaries, and more on essential trading topics such as technical and fundamental analysis, trading ideas, news updates, chart types, introductions to the industry, risk management policies, etc.
It is important to note that any and all provided signals, ideas, content, information, etc. by XE Prime should not be taken as direct investment advice nor as a guarantee for profitable and successful trades, as they are merely indicators and are for informational and educational purposes only.
Although it might not result in profitable trades, forex education is crucial for traders because it can help investors understand and get the most out of this complex world.
Most investors are already aware of how risky it is to trade in the foreign exchange market and that returns on investments depend on various factors. That being said, it must be inherently understood that even the most trustworthy of brokers cannot guarantee profits and successful trades. As such all traders, even those of XE Prime must maintain that there is always a possibility of losing some if not all capital when trading the types of products, they offer.
Yet, due to the broker’s regulation and monitoring, it can be said that XE Prime strives to protect its clients’ funds. This is done through the company’s policy of holding client funds separate from their own through what is known as segregated accounts. Doing so ensures that user funds are not held together with those of the business’ and therefore are not subject to audits, repossession, etc. in case of the business’ default, insolvency, or bankruptcy. This policy along with others makes trading with XE Prime a more secure experience.
The company also provides its users with various risk management measures that clients can employ if they wish to help protect their accounts from sustaining substantial losses. Such measures include, but are not limited, to limit orders such as stop-losses and take-profit executions. These actions allow users to place limits on their trades that force the trade to close if they reach the predetermined threshold the user implements.
As seen through this extensive review, XE Prime comes out as a reliable and secure forex broker. Its compliance with numerous regulatory bodies, risk management policies, various deposit and withdrawal methods, and myriad of resources present its client base with an easy yet secure trading environment. Hence, it is no wonder why they have adopted the motto, “Trading for Everyone”, as any trader with any level of experience can use them.
Very descriptive post, I enjoyed that bit. Will there be a part
Best broker with low spread, with fast deposit and withdrawal system
The trading platform offered by Xe Prime is just a Webtrader, with a cluttered interface and a lack of many important features. By contrast, mt4 and mt5 can work much better.