Contents
- 1 XtreamForex Broker Review Basics
- 2 Our Opinion About XtreamForex
- 3 Key Benefits
- 4 Regulation And Safety
- 5 XtreamForex Broker Review: Legit or Scam?
- 6 Trading Tools
- 7 XtreamForex Leverage, Spreads and Commissions
- 8 XtreamForex Account Types
- 9 XtreamForex Deposits and Withdrawals
- 10 XtreamForex Bonuses and Promotions
- 11 XtreamForex Trading Platforms
- 12 XtreamForex Customer Support
- 13 Our Verdict
- 14 XtreamForex Broker FAQs
- 15 Similar Brokers
XtreamForex Broker Review Basics
| 🏛️ Based in | Majuro, Marshall Islands |
|---|---|
| ⚖️ Regulation | FSC (Financial Services Commission) |
| 💰 Minimum Deposit | $5 |
| 💳 Deposit Options | VISA, MasterCard, Bitcoin , Neteller, Skrill, Bank Wire, Online Naira, Pay Trust, & Help to Pay. |
| 💳 Withdrawal Options | VISA, Neteller, Skrill, Bank Wire,FasaPay,Crypto, PayRedeem, Perfect Money, WebMoney, & BitPay. |
| 📌Open an account | Start Trading with XtreamForex |
Our Opinion About XtreamForex
Our XtreamForex Broker review team found it to be a solid choice for Kenyan forex and CFD traders. They offer competitive spreads, a selection of powerful trading platforms, and flexible account options to suit different experience levels.
While XtreamForex was only founded in 2015, they’ve quickly grown to service over 1 million clients globally. The broker is owned and operated by Xtream Markets Ltd. One standout feature is their broad asset index which includes currencies, stocks, indices, commodities, cryptocurrencies, and ETFs. So traders can diversify beyond just forex. We also like their focus on trader education through webinars, ebooks, and video tutorials.
However, it should be noted that XtreamForex does not accept clients from Canada, Israel, Japan, Algeria, Ecuador, Iran, North Korea, Sudan, Malaysia, Syria, selected U.S territories, and some other restricted jurisdictions.
Key Benefits
Regulation And Safety
One of the most crucial factors when selecting a forex broker is proper regulation and licensing. This helps ensure your funds and data are secure.
XtreamForex is regulated by the Financial Services Commission (FSC) in Mauritius under the Global Business License No. GB22200951. The FSC is respected for its stringent rules around capital requirements, accounting standards, and conduct of business.
Mauritius is considered an ideal hub for financial services companies due to its regulatory framework and business-friendly environment. XtreamForex adheres to all FSC standards around cybersecurity, anti-money laundering (AML), and know your customer (KYC) protocols.
XtreamForex Broker Review: Legit or Scam?
Given regulation by the FSC, we can comfortably say that XtreamForex is indeed a legitimate broker and not a scam. They hold the proper licensing and adhere to strict oversight and audit protocols.
XtreamForex also maintains segregated client funds in Tier-1 bank accounts, provides transparent trading conditions, and offers secure data encryption. These measures help protect against fraud.
In their short time operating, there have been no major red flags or user complaints that would indicate unethical practices. Based on the facts, traders can engage XtreamForex knowing their interests are protected.
Trading Tools
XtreamForex equips clients with an array of trading tools and features to facilitate analysis and execution:
- Advanced Charts – Fully customizable charts with 100+ indicators and drawing tools for technical analysis.
- Autochartist – Scans markets for technical patterns and trading opportunities to assist strategy.
- Trading Central – Third party signals and research to identify optimal entry and exit points.
- EA Builder – Create automated trading robots with no coding needed. Backtest strategies.
- Economic Calendar – Key data releases and events that impact markets. Plan trades accordingly.
- Trader’s Calculator – Pip value calculator, pivot points, margin calculator and more built-in tools.
- VPS Hosting – Optional Premium Virtual Private Server for uninterrupted 24/7 trading.
XtreamForex Leverage, Spreads and Commissions
Leverage allows traders to gain greater exposure to markets while only tying up a fraction of capital. XtreamForex offers up to 1:1000 leverage on Micro accounts .
Spreads represent the transaction fees charged for executing trades. XtreamForex offers competitive spreads starting from just 1.2 pips. Spreads reduce based on account type down to 0 pips for VIP.
Commissions range from $1 up to $7 per lot based on volume traded and account tier. The higher tier accounts have lower commissions thanks to discounts.
XtreamForex Account Types
XtreamForex provides tailored trading accounts for all capital levels:
| Type | Spreads | Min. Deposit | Max. Leverage | Commission |
|---|---|---|---|---|
| Micro | From 1.2 pips | $5 | 1:1000 | $0 |
| Standard | From 1 pip | $250 | 1:500 | $0 |
| ECN | Raw Spread | $250 | 1:400 | $7 per lot |
| ECN Pro | Raw Spread | $5000 | 1:200 | $5 per lot |
| VIP | Raw Spread | $20,000 | 1:200 | $1 per lot |
Additional XtreamForex account features:
- Allows scalping, hedging, and expert advisor trading strategies.
- Access to MetaTrader 4 and MetaTrader 5 platforms.
- Free Virtual Private Server (VPS) hosting for uninterrupted connectivity.
- Dedicated account manager for personalized service.
No matter your skill level or account size, XtreamForex has an account option tailored to your specific trading needs and requirements.
XtreamForex Deposits and Withdrawals
Convenient and secure payment processing is essential. XtreamForex facilitates deposits and withdrawals through these methods:
- Credit/debit cards – Visa, Mastercard, Maestro
- Bank wire transfers
- E-wallets – Skrill, Neteller, Online Naira, Fasapay, Bitpay, Web Money, Perfect Money, Pay Redeem
- Cryptocurrencies – Bitcoin, Ethereum, Tether
The minimum deposit is only $5 across all account tiers, making it easy to get started. Deposits are free and instant with many options. Withdrawals are also free. Processing times are up to 10 minutes for e-wallets and cards, and up to 2 days for bank wires. There is same day processing for VIP accounts.
XtreamForex Bonuses and Promotions
XtreamForex provides various promotional offers to benefit traders and maximize trading volume and profits. By participating in these bonuses, you can get trading credits, cutting-edge tools, passive income opportunities, and exciting rewards. Some of the current XtreamForex promotions include:
- 100% Credit Bonus – Get a matching deposit bonus up to a specified amount when you open and fund your trading account. This essentially doubles your capital to boost trading potential.
- Free VPS Hosting – Receive 6 months of free Virtual Private Server access, valued at $180, when you deposit over $500. The VPS enables uninterrupted connectivity for nonstop expert advisor(EAs) and robot trading.
- Everyday Payout – Earn up to $25 commission for each traded lot from clients you refer as an Introducing Broker. Withdraw earnings daily to compound gains.
- Trade and Win Contest – Win gadgets and prizes each month based on your trading volume and performance. Incentivizes increased trading activity.
XtreamForex Trading Platforms
The broker offers access to the popular MetaTrader suite:
- MetaTrader 4 (MT4) – Advanced charting capabilities, expert advisors, and backtesting tools.
- MetaTrader 5 (MT5) – Enhanced functionality for CFDs, stocks, and futures.
- WebTrader – Quick trading access directly from any web browser.
XtreamForex Customer Support
XtreamForex client support is available 24/7 via:
- Email: [email protected]
- Phone: +357 96 750500, +441865600814
- Live chat & Wattsup
- Multilingual support in English, Chinese, Spanish and more
Knowledgeable representatives are on standby to assist XtreamForex clients globally.
Our Verdict
Our assessment found XtreamForex to be a well-rounded broker suitable for Kenyan forex and CFD traders. Their trading conditions, account options, platforms, and bonuses provide a competitive offering.
Specifically, we like that XtreamForex offers tight spreads starting from 0 pips, provides industry leading 1:1000 leverage, and runs frequent promotional bonuses. Their multiple account tiers cater to traders of all capital levels, from Micro accounts for new traders up to advanced VIP accounts.
If you are a trader in Kenya looking for a reputable and regulated broker with competitive fees, an extensive product offering, and comprehensive trading platforms, XtreamForex checks all the boxes. We suggest considering XtreamForex as your broker of choice if you need a trusted provider that accepts Kenyan clients.
XtreamForex Broker FAQs
XtreamForex is an ECN/STP forex broker headquartered in Majuro, the capital of the Marshall Islands. They provide online trading access across currencies, cryptocurrencies, commodities, stocks, and indices. XtreamForex operates globally, servicing over 1 million clients.
The minimum deposit to open an account with XtreamForex is just $5 across all account types. This low barrier to entry makes it easy for beginner traders to get started. XtreamForex caters to traders of all capital levels.
Yes, XtreamForex is regulated by the Financial Services Commission (FSC) in Mauritius under the Global Business License No. GB22200951. The FSC oversees XtreamForex’s capital adequacy, client fund segregation, transparency, and other regulatory policies.
Based on trading conditions, fees, platforms, and customer feedback, XtreamForex appears to be a good forex and CFD broker. They offer competitive spreads starting from 0 pips, multiple account options, access to MetaTrader platforms, and a variety of tradable assets.
No, unfortunately XtreamForex does not currently accept clients from the United Kingdom, Canada, Japan, and certain other restricted jurisdictions. Prospective clients should check the XtreamForex website for the latest on geographic eligibility.
