I think regardless of where you face mt4 or mt5, they’re pretty much the same everywhere. Xlence has a good integration, backed up by stable servers at first place, the rest is up to your taste and requirements. For advanced trading with more timeframes, indicators and features overall, mt5 is a good choice. If you don’t need much, just need more customization or user-friendly interface, mt4 looks more favorable.
Personal recommendations is try them both on demo and then decide which one is better for you. In my experience, they work equally fine in this brokerage.
Definitely the MT5 because I could use more advanced pending orders... For your information MT4 can’t boast of buy stop limit and sell stop limit orders as on MT5. So I think the choice is obvious.
I dunno details, but as far as I know, you can just open it from your personal area. You’re able to choose from two options, it’s either xlence essential or xlence vip zero spread, anyway, you better contact the support team to understand all the terms and conditions.
It's positive, as long as you know what you are doing. For example, the essential account is just for laid back intraday trading, it doesnt have any extraordinary conditions, its just a basic account which is for beginners too. And the ultimate account has much lower spreads, this can be better for those who are trading with big money and volumes, and they save on it. Raw account can be great for scalpers for example, as they need to take spreads into control and pay comission for this.
Oh really they had one. I heard about this, but never knew somebody was using it. Well if you're a heavy scalper and even better having some good mt4 robots set and ready, this account is all you need. Designed for big volumes, zero spread for forex majors, while commission is mediocre, though per lot $6 is a decent amount I think, if it’s per lot, if per side, yeah mediocre. As far as I’m not scalper, my opinion is good for the broker to have it, for me, it doesn’t make any sense to switch to commission based account.
They literally mean 0% commissions by that, when you open an account, you can trade on the market without commissions opening 20-50-100 trades a week. However, the trick is that it’s not applied on markets like Future Indices, FX Futures and Future Commodities, where you have to pay commissions around $10 per lot per trade.
They literally mean 0% commissions by that, when you open an account, you can trade on the market without commissions opening 20-50-100 trades a week. However, the trick is that it’s not applied on markets like Future Indices, FX Futures and Future Commodities, where you have to pay commissions around $10 per lot per trade.
To a great deal...basically trading central can be understood as a special ecosystem that contains a number of helpful features from AI driven indicators to expern insights to more.
Take for example TC Alpha Generation feature, there are special indicatos there, technical ones that can supplement your manual chart analysis. For isntance, lets say you analyze the chart seeking a pattern. WIth the tools from TC, you can be assited identifying potential supply and demand shifts, thus, there could a price reversal - it is done through so called adaptive candlesticks.
Also one worthy feature is TC Crowd Insight - what it does is through AI analysis it gives sentiment analysis. Basicaully u get market confidence on a cetain asset - whether it is about to outperfrom or underperform. all judgement is based with help of AI. The update happens on an hourly basis...
There are many other as well, just you better try it. I was initially like "naah, it cant be that good", but I was wrong. Now I use TC to make better tradign decisions, I cant say it replaced my own analysis, no, but I use it like in combination. That way my chances are waay higher.
Well, you need to contact the customer support as I did when I got interested and was doing the research about the broker. Here what I managed to get after the live chat with the CS...
the min depo depends how you fund your account, for :
Credit card : 50 USD, Bank Transfer: 10 USD, E Wallets: 10 USD, Digital Assets: 20 USD....
There are 4 accounts displayed on the website, and the basic one is essential account. There's no fixed deposit amount there, and this account has the most basic conditions.
Accounts are upgraded as you invest more, for example: 2K or more for Prime, and spreads get down to 1.2 pips. Next is Deluxe - 0.9 spreads and 10K min deposit requirement. Best account is ultimate, because spreads are 0.7 pips but the minimum deposit is 25K, pretty hefty.
They have one more account that is not displayed, VIP Zero spreads account on MT4 with STP method of execution, and pips start there from 0, and comission is $6 per lot on gold and currencies.
About why don't they display all information on their website, I don't know, at this point - I would only be guessing. You can always contact support to get that information, and I think your question can be a suggestion to them to update the information and add more clarifications.
Well, it depends...the more advanced account you have, the better the spreads are. But I can say that even less advacned account types have pretty competitve spreads. So, no worries on this aspect.
Both of those platforms work well with xlence. That’s really the question about the preferences of each other. I like MT5 more, because that’s a newer platform compared to MT4 and has some add on features that makes it better. However, I know people who use MT4 to this day, and they absolutely love it. I guess they started off with that platform and are already used to it, so they don’t have any need to change the platform. So, ultimately look at what works the best for you. Try both of those platforms in a demo version, so that you don’t lose any money while trading, and see what’s better. Try downloading the mobile applications as well, it’s pretty easy to open and close positions there.
If you ask my opinion, then I think it’s definitely the mt5. It works better with any broker, lemme tell you why, you can use a wider range of technical indicators, more options for pending orders like buy stop limit and sell stop limit which aren’t avaialbe on the mt4. Also, you can take advantage of a more modern user interface and navigation is easier than on outdated mt4. Everything depends on your tastes bro, or nope. :)
Yep, I’m trading index futures, to be precise NASDAQ and S&P 500. Indeed, they do charge $10 for each lot, but doesn’t charge any commission on other assets. But the difference is that the assets where they don’t charge commissions are CFD, whereas $10 each lot is futures, it’s different, which is why it’s charged separately. The spreads with futures are almost minimal, so they earn from commissions more there. But with cfd assets spreads are wider, so they earn from them and don’t charge commissions. I hope it makes sense to you.
Most of what you would expect. Precious metals like gold, silver palladium, as well as other hards like crude, or natural gas. Soft commodities are also here, so you can find pretty much anything you're intersted in trading
Aha, I see you are quite knowleadgable about the trrading terms here. Well, it is good to have swap free accounts. May I know, I think you are probably a mid term trader, swing trading, pal?
Anyway, you are lucky man, as the broker has a swap free account. It is something they specialize compared to many others.
How to open it? U gotta and go through the neccessary accoutn registration process , pretty standrard rigtht? U better check the nuances from the broker itself. They have quite responmsive CS btw.
Btw, if swin trading, a piece of advice, check out the stock market, my indicators show that momentum is there. Also many analysts mention it too.
I have been closely watching this broker for some time. The thing is that as per my research the broker is legit and has a number of perks that range from tradign conditions, assets to choose and custoemr support and many others factors.
As for your question, I think that yes, the swap free account is offered to Sharia-compliant accounts. I think it should make sense.
Initially when saw no swaps I was like wow...cool, then I i discovered that it somehow has to do with religious laws connected to finance. I aint an expert here.
Anyway it is always good to contact support team. reach them out, they are very responsive as in the past I did ask them too,
It’s actually for everyone. I don’t know from what location you’re sitting at their trading platform and actually it doesn’t matter since you upload proof of address, based on this they identify where you’re residence at. Why it’s important is because swap accs are usually granted by default in Muslim countries or areas where Islam is the main religion. From my xp and I’m not from these area, I just tapped switch on swap free and enjoy. Idk how it will be in your case.
Let’s start with that education is not something that you come for to trade with a particular broker. There are more important things, for example, spreads, abundance of platforms and assets you prefer, reliable payments and lack of market manipulations. Education matters as an additional feature….
For this broker, I can tell that their articles, which take a few minutes to spend on each, it’s worthy. They ordered them pretty well into forex concepts, tech and fundamental analysis, and ready trading strategies. From this list, tech analysis looked best for me. More useful practical information that even experienced traders can find interesting.
I think currencies are a safe bet. The trick is to notice the overall big trend, and find openings with in it for a smaller one. Right now the big trend is, USD weakening. So any major pair is good, pretty much. Look at the RSI and just short USD at the opportune moments. I'm doing it vs EUR and vs GBP everr since Trump came in office,very much in the green currently.
No, the leverage is not fixed to 1:1000, it just tells you the maximum leverage you are able to open a trade with. It would be impossible to trade for many traders including me if it was fixed, as this kind of leverage is tooo high in my opinion. When you are entering the trade you can change the amount of leverage you want to use according to your risk management and account size of course. However, be cautious using leverage and learn about it before implementing in your trading, because this tool might be very powerful to make your profits bigger, but it also makes your stop loss tighter. Anyway, if you are confident in yourself, you are good to use it.
If you don't have a bias for any specific platform right now, I think going for the latest version is probably a good idea. MetaTrader 4 is still relevant, but it's much older than MetaTrader 5, so it will probably recieve less support in the future. Also, you might want to try both and see it for yourself, since it's completly free and doesn't take a lot of time.
For me, there is not much difference, what MT to trade on. But, it’s believed that MT4, aka older version has more user-friendly interface, giving those computer era beginning vibes. You know those Windows XP looks. MT5 is a more modern and advanced one. Still, in both cases, you need to get used to position calculation in lots and many order types.
Since, newer option has more assets to trade, more timeframes and Xlence broker finally added it, I advise you to go with this one. Who knows when Metaquotes will stop making updates for its MT4. Sooner or later it will happen, 100% before MT5.
I'd say deluxe is the best option here because the difference in spreads actually becomes quite significant in comparison to the essential account. Prime is good if you can afford it, but the improvments there are only marginal, so it's worth going the extra distance to get the next upgrade in line imho
Yes they provide both MT4 and Mt5 for different devices and if you want to know which is better, it all depends on you, how you feel and the results you get when using them.
While this question is much better suited for the xlence support team, as far as I know, any of the higher-level accounts come on top of the essential one. Prime, deluxe, and ultimate included. So yes, it is, technically, necessary
Yeah, i mean you have no choice. You will have to start with the essential account. You don’t have to pay anything for the account, as it’s completely free. So, when you register you get the essential account by default. After that, you are free to choose any account you want, you can start with essential or you can upgrade. But to be honest, the ultimate account costs a lot to open. If i’m not mistaken it costs 25 thousand dollars. Think about it before opening such an account.
The difference between Xlence and other brokers is the variety of trading accounts and their system of upgrading them. It turns out that if you want to trade with better trading conditions, for instance, tighter spreads or lower swaps, first and foremost, you need to open an essential account, and only after that depending on the amount of your money on a trading balance, your account may be upgraded to the next level.Also, I would like to add some words about their trading academy which has a lot of useful information and the interesting thing that they offer high-quality educational resources which can be compared to the CME education.
Yep, you can find a lot of valuable information there. Believe me, I’ve worked with many various brokerage firms, but Xlence is at a different level compared to them. Their videos have only the necessary information. For instance, I learned a lot about fiscal policy and its interaction with monetary policy. Understanding these essential macroeconomic factors can help you make trading more enjoyable.
There is available education. I recommend you to pay attention to the trading strategies section. Recently i found out a lot of interesting techniques about how to trade scalping strategies in practice. I would have never thought that I would be able to open about 20-30 trades in one hour. It sounds impossible but as soon as you learn all the subtleties, there won’t be any problems.
not possible, but you should still read it, over time. Watching lessons on youtubee when I'm cooking, also a good idea. Sometimes on two times speed.
Xlence has great academy, but its mostly reading. Still, you should have all these strategies in the back of your mind. If you don't, youm might not understand what people are talking about, and in general feel/be out of the loop.
Reading is not that hard, and for the profits, its worth it.
No, you cant start neither with deluxe, prime or ultimate account right away. They have kind of an upgrade system, where you first start with an essential account and later can upgrade your account to deluxe and further if you deposit the right amount of money.
yup. Xlence provides negative balance protection to all its clients free of charge. This means you do not lose more than what you have initially deposited, so that your account balance cannot drop below zero.
The safest will always be a bank transfer, which takes a few days. But I would say that other methods such as skrill are legitimately safe and faster and you can receive your money back within 1-2 days.
First of all, I wanna address the top safest part of the question because I don't think you can rank one method of payment more safer than the other. For instance, btc may be "safer" than skrill or visa but this they say it to promote the coin, all of these methods are safe, bank transfer as well because the bank will be responsible for transferring your money, so this is why just choose the method that you want and find convenient and don't look at safety like that, if you don't loose your card or not flash the details, its as safe as the rest of the crew.
When it comes to withdrawing, I gotta tell you that it doesn't work this way. The option you used to deposit will be used for the withdrawal to cover the sum, and rest would ONLY be by bank transfer. If you find it confusing, then here you go;
Imagine you invested 1000$ by BTC and then traded great and made 3000$, now you wanna take 2000$ out and leave 1000$ to trade. Your initial deposit amount (1000$) will be withdrawn by BTC (because you deposited by btc) and then the rest (1000$) would only be available through bank account transfer.
Yeah, Xlence does offer training and education through the resource called Xlence academy. They have a mix of courses introducing beginners to the basics of forex trading and tech analysis. As far as i know, people seem to like the quality of the content. It has an easy to understand and easy to follow structure. . Beginners read about the fundamentals without feeling overwhelmed, as the information is presented in a simple way.
The answer won't be any different from metatrader4:) It's a great platform with in-built indicators and why I like it is because is just streamlines my automated trading.
As long as the broker is regulated and there are testimonials of safe withdrawal then you don’t have anything to worry about. So yes, your money is safe with Xlence
