XlenceReviews 107

Answer: They provide all the popular methods that I know. At least one provider for each category of bank-related, e-wallet and crypto. The last tow is basically what you need for fast and less bureaucratic execution process. You might say credit cards might be fast too. Yeah, but only for deposits. Withdrawals will take eternity to complete. Here, I can recommend either skrill or crypto, which one you’re convenient with. You can go with apple and google pay too, though Idk how fast they’re in the context of trading. Trc-20 network had low costs if you want to escape taxes too, the best choice, LOL

Answer: As soon as you open the account with xlence, you will get the essential one, and i think that one is more than enough for you in the beginning. There is no need for you to run after the low fees, the essential account has competitive ones already. However, if you don’t want to risk money at all, you can open a demo account and learn trading there without any risk to your trading balance. It replicates the live trading environment, but with virtual funds, not yours. It’s great for beginners to kick things off… When it comes to the market, i would recommend you to get more familiar with the forex market, as for the asset, just trade the major fx pairs such as eur/usd, usd/gbp and etc. It’s one of the most popular markets out there, and you can find tons of trading strategies, breakdowns, and education online.

Answer: Exactly! I was in the same situation not understanding how exactly the system of accounts works there. After asking for necessary information in customer support, it turned out that everyone starts with the essential account and then you need to upgrade it if you want to get access to the next level and better spreads. For your information, xlence prime starts from $2000, xlence from $10,000, xlence ultimate from $25,000, I don't know if it's good or nope, but I personally deposited $2000 and currently I’m trading spreads from 1,2 pips on average which is more than enough for me.

Answer: Your question is right on the spot! They have four different account types and all of them are different both the minimum deposit criteria and the trading conditions provided. Oh and by the way, usually only spreads are variable for the accounts when it comes to trading conditions, so i will tell you the average spread for each account for you to understand. Let’s start with the xlence essential account, which is completely free to start trading with. And because it’s free, the trading conditions are not the best you can get. The average spread for eur/usd pairs is somewhere around 1.1-1.4 pips, which is not bad, but could be better. The next account is xlence prime. The minimum deposit criteria here is only two thousand dollars. For the amount you are getting a noticeably lower spreads that range between 0.9 and 1.2 pips for eur/usd. Third account on the list - xlence deluxe. Sounds luxurious, and it actually is. To get this account you have to deposit 10K dollars, which is quite a penny for a large number of people. And of course the spreads are cut even lower. Starts as low as 0.6 pips and go up to 0.9 pips. Last account is xlence ultimate. I don’t know a single person who uses this account, because the minimum deposit you have to make in order to get this account is $25000 dollars. But yeah, because you spend such a large amount of money on deposit, you get the best trading conditions (from 0.4 pips to 0.7 pips) Honestly, for the amount of money, they could make the spreads fixed at zero… All in all, the xlence prime account is the best for the value imho.

Answer: The accounts here are a bit different from what we are used to seeing with other brokers. It’s closer to a loyalty program, although it’s not a loyalty program concept, but the more you trade and the larger your account size is, you can upgrade your account and get improved trading conditions. One big difference between the accounts is the spread - the more advanced your account is, the better the spreads are. For scalping, you need as tight spreads as possible. So, tend to upgrade your account to a more advanced one, but even the Prime account should work fine for scalping and other trading strategies.