XtremeMarkets

As someone who has been trading forex for a while, I’ve tried out different brokers and platforms. Recently, I decided to give XtremeMarkets, now known as XtremeMarkets, a try to see how it compares to other brokers. In this XtremeMarkets review, I’ll share my own experience with the platform, go over its key features, and talk about what makes it stand out.

XtremeMarkets Overview

What is XtremeMarkets?

XtremeMarkets is a forex and commodities broker that’s been around since 2015. Over the years, it has built a good reputation among traders for being reliable and offering a lot of different trading options. You can trade not only forex but also commodities, indices, forex, stock, and cryptocurrencies. 

Forex Trading Conditions

The trading conditions at XtremeMarkets are another plus. The broker offers flexible leverage, going up to 1:1000 depending on your account type and location. But be careful—high leverage can mean bigger profits, but it also means bigger losses. If you’re just starting out, it’s probably best to stick with lower leverage until you get more comfortable with trading.

One feature I really liked is the negative balance protection. This means you won’t lose more money than you’ve put in, which is super important in the unpredictable world of forex trading.

XtremeMarkets also offers popular trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). I mostly used MT4 during my time with XtremeMarkets, and it worked smoothly. The platform is easy to customize, and it comes with a bunch of tools for analyzing the markets. 

Account Types and Minimum Deposits

XtremeMarkets offers several account types to suit different traders. Here’s a quick rundown:

• Cent Account: This is great for beginners, with a minimum deposit of just $5.
• Prime Account: A step up, with a minimum deposit of $10. This is the account I chose, and it offers better spreads and more trading options.
• Auto Account: Designed for copy trading, with a minimum deposit of $200.
• PAMM Account: Allows you to invest in trades made by more experienced traders, with a minimum deposit of $250.
• Demo Account: Allows beginners & experts alike to test their knowledge and try out trading without any risk, which is something very important.

I liked the variety of accounts because it means there’s something for everyone, whether you’re new to forex or have been trading for a while, especially the demo account availability.

Funding and Withdrawals

Putting money into your XtremeMarkets account is easy, with several options like credit/debit cards, bank transfers, and e-wallets. I used my credit card, and the money showed up in my account right away without any fees.

When it came time to withdraw money, the process was smooth too. But there are some fees depending on how you choose to withdraw. For example, ACH withdrawals have a $15 fee, which might be a downside for some traders. However, if you withdraw using a credit card or wire transfer, it’s free. The minimum withdrawal amount is $5, which is pretty reasonable.

XtremeMarkets App: A Closer Look

The XtremeMarkets app is a great tool for trading on the go. It’s available on iOS and Android, and it’s really easy to use. You can do pretty much everything on the app that you can do on the desktop platform, like placing trades, managing your account, and even doing some analysis.

The app also has real-time price alerts, which I found really helpful for keeping up with the market. Whether you’re commuting, traveling, or just away from your desk, the XtremeMarkets app keeps you connected to your trades.

Regulations and Security

One reason I felt comfortable trading with XtremeMarkets is because they’re regulated by some of the most respected financial authorities. These include:

• Financial Services Commission (FSC) in the Mauritius

The rest of the listed Regulations are regulating their respective territories.

These regulators make sure that XtremeMarkets follows strict rules, which helps keep your money safe and ensures fair trading practices. XtremeMarkets also keeps your money in separate accounts, so it’s not mixed with the broker’s own funds, adding another layer of security.

Unique Features

XtremeMarkets has some standout features that make it different from other brokers:

• Educational Resources: XtremeMarkets offers a lot of learning materials, including webinars, tutorials, and market analysis. These are really helpful whether you’re just starting out or looking to improve your trading skills.
• Automated Trading: XtremeMarkets supports automated trading on the MT4 and MT5 platforms, which is great if you prefer to let a system handle your trades.
• Copy Trading: With the Auto Account, you can copy the trades of more experienced traders. This is perfect if you’re new to forex or don’t have time to manage your trades.

Trading Platforms

XtremeMarkets offers trading on the world’s most popular platform, MetaTrader 4 (MT4), allowing traders to access Contracts for Difference (CFD) trading on more than 250+ financial instruments. MT4’s user-friendly interface, ultra-fast execution, and advanced trading features make it suitable for both beginners and experienced traders.

With a wide array of analytical tools, automated trading capabilities, and cross-platform compatibility (Windows, Mac, Linux, and mobile), MT4 offers flexibility and convenience. Traders can enhance their experience with over 50 indicators, multiple timeframes, and seamless integration of Expert Advisors (EAs) for automated trading.

Partnership Options

The XtremeMarkets Affiliate Program offers an excellent opportunity for individuals to earn substantial commissions by promoting XtremeMarkets. Affiliates can earn up to $30 per lot traded by their referred clients, with unlimited earning potential.

The program also provides additional benefits, such as daily payouts, the ability to refer new affiliates and earn a share of their commissions, and RevShare+ rewards, offering up to $5,000 in extra bonuses.

With a three-tier affiliate system, affiliates can earn commissions not only from their direct referrals but also from sub-affiliates, increasing their revenue potential. The program also ensures top-tier trading conditions for clients, including 1:2000 leverage and fast deposits and withdrawals, helping affiliates attract more traders.

Account Types

XtremeMarkets offers multiple accounts like Cent, Prime,Platinum, Royal and Power-up bonus account , and share account. The accounts provide excellent quality trading with multilingual customer support. We noticed much similarity in the services of Cent, Prime,Platinum, Royal and Power-up bonus account. Open the account with a minimum of $10(cent, prime) and $50 (Power-up bonus)as an initial deposit. The share account’s minimum deposit amount is $10,000.

You can open the multi-asset trading account in the cent, Prime, Platinum, Royal and Power-up bonus. But keep in mind such an account is available on the MT5 platform only. An XtremeMarkets client can use eight active trading account and one share account. So it’s an excellent opportunity to increase your trade volume.

Commissions and Spreads

The price of XtremeMarkets varies with variation in trading instruments and XtremeMarkets account.

The trading price varies with the account category. For example,

Minimum deposit- you need to deposit a minimum of $10,000 while trading through a share account. The Cent, Prime, Platinum, and Power-up bonus ask to deposit a minimum of $5 and $50, i.e., much less than the Power-up bonus one.
Commission – Standard, cent, and Power-up bonus accounts don’t charge commission. On the contrary, there is a commission in the XtremeMarkets share account.
Spread – The cent and prime account offer spread as low as one pip on all major. The spread value is much small in Power-up bonus account 0.6 pip.
Leverage – The cent, prime, and platinum account offers similar leverage, i.e., 1:1 to 1:500 on $10 to $10,000. The share account doesn’t provide leverage.
Minimum trade volume – The minimum trade volume in the share account is one lot, whereas you can trade 0.01 lot in the other three accounts.

So the XtremeMarkets review portrays, XtremeMarkets share account pricing and offerings mostly vary with cent, prime, and Power-up bonus account. You need to have more initial funds in trading through an XtremeMarkets share account. And you will get no leverage and comparatively low spread with the commission on trading large volume compared with the three accounts.

Education

Education is one of the things that this broker does well. They have the demo account, a great place to start when you are trying to get your trading game up. You can watch tutorials for all the trading platforms and learn more about analysis from XtremeMarkets regular webinars.

Most of the education at XtremeMarkets comes from video-based content. You can get deep dives into topics like introduction to the financial markets, risk management, money management, trading strategies, and analysis. There are pre-recorded videos for the traders who need to get more training about how to trade.

In terms of research, XtremeMarkets offers its clients access to technical analysis tools, an economic calendar, and a section dedicated to research and education alone. One downside is that they do not have fundamental data for those who may need it. It might be useful to consider that you could have to opt for third-party sources if you need fundamental data to make trades work.

Customer Service

To reach XtremeMarkets customer service, you will need to use telephone numbers, email, or their live chat function. The live chat function is the fastest to respond. The first question gets answered in a few seconds. Sometimes, you will not get the best answers you are looking for.

However, there is no need to worry because you can call them and talk to a customer service agent if that does not work. An email will take about a day before you have your answers. They are more relevant than the phone or live chat answers, which can be vague at times