DEPOSIT
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The largest US forex broker
XNT looks very professional, even though at its core it is a very simple and straightforward broker.
XNT is regulated by the MFSA or the Malta Financial Services Authority. As part of the Maltese regulation, XNT is endowed with great benefits, and so is the user who can feel at home trading with the broker, if XNT is his or her thing.
- For one, Malta is part of the European Union, and as such abides by all EU legislation covering the FX trading sector, like ESMA or MiFID.
- Regular reporting guidelines are issued by the watchdog to make sure that the broker, XNT in our case, does everything by the books and does not hide anything. This way any wins and losses can be archived, while the way the company conducts its business is also tracked.
- The MFSA requires that all brokers have a capital of at least €730 000, and keep it that way throughout. This money proves the firm’s liquidity and license eligibility.
Also, at some point in the website, we were told that the broker is also approved by the UK’s Financial Conduct Authority to provide retail and corporate services to UK clients. However, the FCA’s registry had no result for one XNT. We doubt that the broker would lie. We are probably talking about passporting services in the UK, whihc is a common practice for EU brokers.
So, obviously, XNT is a safe and secure broker that offers fair trading conditions.
The EUR/USD cost of trade is 0.3 pips, with a commission that has not been disclosed, which might be a bummer for some, and we find it not to be too professional a move.
The available financial instruments are forex currency pairs, hedge funds, metals, stocks, ETFs, options, futures, and bonds, with over 600 000 in numbers, which is truly impressive. There a lot for everyone. The only bummer is the undisclosed spread commission; it’s usually around $10 round turn, but it really depends on the broker.
XNT LOGIN
XNT offers a proprietary platform whihc seems to be very good. It is available on all mobile devices, can be accessed via a simpler web trader version, and as a fully fledged desktop platform. It comes equipped with decent chart tools, modern features, advanced market analysis tools, algorithmic trading, and other great options.
XNT MINIMUM DEPOSIT
The great trading conditions and trading software comes at a very hefty price. The minimum deposit is €50 000, which puts this broker at a whole different category. This requirement is definitely not directed at any retail users. Moreover, there is only one account type. This is definitely the game changing factor here. XNT seems to accommodate its services only to big players.
The account base currencies are many, allowing just about anyone to interact with the broker: GBP, USD, JPY, EUR, CHF, CZK, SEK, CAD, HKD, MXN, PLN, NOK, SGD, and AUD.
The only payment method is bank transfer. There are no fees for investing.
XNT WITHDRAWAL TIME AND FEES
We have an international wire transfer fee of up to $80. The minimum withdrawal amount is €30.
There is also a very odd and suspicious fee of €90 when trading with the platform This is a one time fee, which we assume means that it is applied only once. It applies to any traded instrument.
Moreover, there is also a €50 inactivity fee, applied after a dormant period of more than 60 days. The commission is also applied when an account has had no positions, and/0r has less than €5000 as balance account
BOTTOM LINE
XNT took a turns for the expensive all of a sudden, At first we thought this to be a subtle FX trading experience, but once we found out the minimum deposit, we relies that we may have misunderstood the broker. But in essence, XNT remains a simple and solid trading experience that we recommend, given you have the funds.
