xPartners

XPartners is one of many registered brands of Goldenburg Group Ltd (another one being CFD World), which is a Cypriot Investment Firm, or CIF, that is regulated by CySEC. The broker has also cross border agreements with multiple other European financial regulators, including the FCA in the UK and BaFIN in Germany.

CySEC’s main goal is to enforce the law in the financial markets industry. XPartners is also a member of the Investor Compensation Fund (ICF) which protects clients covered by the ICF, and provides them with reimbursement of up to €20 000 euros in case xPartners cannot meet their financial rights.

The leverage is limited to 1:30 in Europe and the UK.

The broker reveals to us that the typical spread is 3 pips for the EUR/USD currency pairs. For some reason we could not open the trading platform (see the next section for more info)

Instruments for trading are Forex Pairs, Commodities, Indices, Shares, and Shares CFDs.

The default language is English and it cannot be changed.

XPARTNERS LOGIN

The MT5 platform has been included, and as always, it is a very welcomed addition.

METATRADER 5

The MT5 platform is here to give you a pushing hand towards the right direction. Although not as popular as MT4 MT5 still retains some great features that you will want in your trader’s repertoire. MT5 allows for a centralized market trade and is certified by many stock exchanges. There are also improvements in the time frames, better charting tools allowing for greater accessibility, and more pending order types for more versatile trading options. Expert Advisors have not gone anywhere; they’re still at your service with MT5.

With that said, we had issues when opening a demo account. After inputting the log in details, the platform wouldn’t update, and for this reason we are left with whatever spread the broker mentions on its website. In xPartners’ case it’s 3 pips for the EUR/USD pair. This is double the average rate, and is simply unacceptable. Either the broker has a bad taste in humor, or it’s serious in which case we would never recommend xPartners to anyone.

The leverage is capped at 1:30 by ESMA.

The MT5 is available as a desktop trader, and on smartphones and tablets.

XPARTNERS MINIMUM DEPOSIT

The minimum deposit is $250 for Wire Transfer, and $100 for Credit/Debit Cards and dotpay.

Without opening an account we could not know the base currencies. But seeing that CFD World’s currencies were EUR, USD, PLN, CZK, and HUF, they probably aren’t too different at xPartners.

The company does not charge on deposits, but individual payment systems can charge you with their own commissions.

XPartners does not reveal the processing times for deposits. Instead, we can give you what the industry standard deposit waiting times are: Wire Transfers takes up between 3-5 days, while Credit/Debit card deposits are instant. E-payment methods are usually immediate.

XPARTNERS WITHDRAWAL TIME AND FEES

CySEC ensures that all withdrawals will be conducted in the safest and securest of manners.

The only way to withdrawal is through Wire Transfer, and the minimum withdrawal is capped at $250.

There are no fees issued by the broker when making a withdrawal, however the banks that are taking care of the transaction can launch commissions.

The €40 monthly fee on dormant accounts activates after 6 months no trading/depositing/withdrawing detected in an account.

There is no indication on how long it takes to withdrawal. Again we must act on general presumptions. Wire Transfers have a relatively long withdrawal processing time-frame, averaging at around 5 days, and sometimes more.

BOTTOM LINE

XPartners is a stable broker, but it’s incredibly average, and so if traders are looking for something more lively, they will not find here. Add to that the ridiculous spread, and we can’t really recommend xPartners.