XLibre Information
XLibre is a brokerage company registered in Mauritius in 2023 and offers financial trading to global clients. Their products include forex, commodities, indices, shares and cryptocurrencies. The company offers demo account for practicing and the advanced MT5 trading platform for pleasant trading experience. Its tiered accounts cover the needs of a wide range of customer groups with different capital and experience levels.
Moreover, the broker implements safety measures such as fund segregation and negative balance protection to enhance customer security. Economic calender enables traders to keep up with the latest market updates.
However, it should not be neglected that the broker currently operates without regulation from any authorities.
Pros and Cons
Is XLibre Legit?
The broker operates without any valid supervision from any regulatory authorities. It raises a question about its legitimacy and credibility because regulated brokers usually adhere to strict industry standards to protect customer funds.
What Can I Trade on XLibre?
XLibre offers diversified market instruments to its clients, these mainly fall into 5 asset classes: forex, indices, commodities, cryptocurrency and stocks.
Forex trading involves in buying and selling of global and make money from the fluctuations of their values. Popular currency pairs include EURUSD, GBPJPY, GBPEUR, etc.
Commodities are raw materials or primary agricultural products traded on exchanges, such as oil, gold, and wheat.
Indices track the performance of a group of related assets, providing a snapshot of market trends and economic health.
Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on decentralized networks, like Bitcoin and Ethereum.
Shares represent ownership stakes in a company, giving investors a claim on the company's assets and earnings.
One of the key principles of investing is never putting all eggs in one basket. Scatter your funds into several products to dilute risks and potential losses.
Account Type (Minimum Deposit/Leverage/Spread & Commission)
Except for demo accounts which enable traders to get familiar to the platform first in risk-free environment, XLibre also offers 4 tiered live accounts: CENT, Standard, Raw and Pro account.
The CENT account is ideal for new comers with a low minimum deposit of $10 and offers spreads from 1.2 pips with a maximum leverage of 1:2000.
The Standard account, with no minimum deposit, suits those seeking simplicity with slightly higher spreads of 1.5 pips on Forex.
For advanced traders, the Raw account provides the tightest spreads from 0 pips but requires no initial deposit.
The PRO account is tailored for high-volume traders, featuring a $2,000 minimum deposit and spreads from 0.8 pips.
Leverage is up to 1:2000 across all accounts. Traders should be carefully to trade with leverage since it amplifies gains and losses alike.
In addition, the broker claims they don't charge commissions in Standard and Pro account, but when we checked one by one, actually there will be 1% commission per lot traded over Standard, Raw and Pro account. You should seek clear clarification from the broker if you decide to trade with them.
Trading Platform
XLibre offers the highly-regarded MetaTrader 5 platform, known for its advanced trading features and user-friendly interface. Available for download on both desktop and mobile devices, it provides traders with a comprehensive toolset for analyzing markets and executing trades.
Additionally, the web terminal option ensures that users can access their accounts and manage their trades from any device with an internet connection.
Deposit & Withdrawal
XLibre accepts several payment methods.
- For deposits, Visa and MasterCard transactions are processed quickly, typically within 10 minutes and come with no deposit fees. SWIFT transfers, while much slower at 2-7 business days, also incur no fees for deposits over $100.
- For withdrawals, processing time of all methods is between 2-7 business days depending on the correspondent bank, all with zero withdrawal fees.
Customer Support Options
If you want any help or support from XLibre, you can reach them through email, social media platforms, or visit them in person in their Mauritius office.
In addition to the above, you can also send an online message via live chat or submit a contact ticket on their website and wait for callback or email from a representative.
The Bottom Line
Though the company is not regulated and relatively yong so far, it's still not a bad choice for clients in general perspective. The company implements fund segregation, seperating client funds from their operation account even when there's insolvency. Negative balance protection stops traders to lose more than their initial deposit. The affordable minimum deposit requirements from $0 in their low-level accounts are also attractive for traders to test water first. But bear in mind, it's never too careful to be prudent with any investment activities.
FAQs
Is XLibre safe?
Though the broker is unregulated so far, it's still relatively safe due to its protection measures such as fund segregation stop-out and negative balance protection.
Is XLibre good for beginners?
Yes, the company offers demo account for practicing and affordable minimum capital from $0 for beginners.
What trading platform does XLibre have?
XLibre offers MT5 trading platform, available to use on web, PC and mobile devices.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.
