Score
South Africa
|
2-5 years
| https://xmrmarkets.com/
Website
Rating Index
Influence
D
Influence index NO.1
Brazil 2.55
LicensesLicensed Entity：XMR Markets (Pty) Ltd
License No. 46452
South Africa
xmrmarkets.com Netherlands
VIP is not activated.
| XMR MarketsReview Summary | |
| Founded | 2022-11-18 |
| Registered Country/Region | South Africa |
| Regulation | Suspicious Clone |
| Market Instruments | Forex/Commodities/Stocks/Indices/ETFs |
| Trading Platform | XMR Markets(Mobile/Web) |
| Min Deposit | 250 USD |
| Customer Support | Email: support@xmrmarkets.com |
Registered in South Africa, XMRMarkets is an authorized FSP offering various CFDs covering major and minor forex currency pairs, stocks, commodities, indices, etc. It also offers swap-free accounts. XMR Markets is still risky due to its suspicious clone status.
XMR Markets regulates FSCA with license number 46452 and License Type Financial Service Corporate. However, the 'Suspicious Clone' current status is not as safe as the regulated one.
XMR Markets offers various market instruments, including forex, commodities, stocks, indices, and ETFs.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Stocks | ✔ |
| Indices | ✔ |
| ETFs | ✔ |
| Cryptocurrencies | ❌ |
| Precious Metals | ❌ |
| Shares | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
XMR Markets provides a propriety trading platform that is available on mobile and web, instead of the authoritative MT4/MT5, with mature analysis tools and EA intelligent systems.
| Trading Platform | Supported | Available Devices |
| XMR Markets | ✔ | Mobile/Web |
The first deposit amount must be 250 USD or above. XMR Markets accepts all major credit cards (Visa, MasterCard, Maestro), wire transfers, and alternative payment methods such as Skrill, Neteller, etc. for deposits. Withdrawal requests are usually processed within 5 to 10 business days.
XMR Markets allows deposits through credit cards (Visa, MasterCard, Maestro), wire transfers, and e-wallets like Skrill and Neteller. I like the selection of payment methods because it provides me with options for quick and convenient deposits. Personally, I prefer e-wallets for their ease and speed, so I’m glad to see they’re supported. However, I would have liked to see additional options such as PayPal or even cryptocurrency payments, as these are becoming more common in the industry. While the available methods are sufficient, the lack of more diverse payment options leaves me wanting a bit more flexibility.
One of the benefits of XMR Markets is that they offer a variety of tradable instruments, including forex, commodities, stocks, indices, and ETFs. This is a positive feature, as it allows me to diversify my trading strategies across different asset classes. Additionally, XMR Markets provides swap-free accounts, which is particularly appealing to traders like me who follow Islamic principles and cannot trade with interest-bearing accounts. The platform is available on both mobile and web, offering flexibility and the ability to trade from virtually anywhere, which adds significant convenience. However, these advantages do not outweigh the major concerns about their "Unverified" regulatory status. As a trader, it’s important for me to feel secure with the broker I’m working with, and the lack of verified regulation makes me wary of trusting XMR Markets with my funds. While I appreciate the range of instruments and swap-free accounts, the unverified regulatory status would make me cautious about proceeding further.
XMR Markets supports a variety of withdrawal methods, including credit cards (Visa, MasterCard, Maestro), wire transfers, and e-wallets like Skrill and Neteller. This flexibility is something I appreciate because I can choose the method that works best for me. Personally, I prefer e-wallets due to their fast processing times, and it’s good to know that XMR Markets supports this. However, the lack of transparency on fees and withdrawal times means that I would need to inquire with customer support to get more detailed information. Although the variety of withdrawal methods is helpful, the lack of clear details leaves me uncertain about how easy it would be to withdraw my funds when needed.
XMR Markets doesn't provide a detailed fee breakdown on its website, which immediately raised some concerns for me. Transparency in fees is essential for any trader, as hidden fees can significantly reduce profits over time. From what I could gather, there do not seem to be deposit fees for using credit cards or wire transfers, which is a good start. However, the lack of detailed information about other possible fees, such as withdrawal fees or spread costs, made me hesitant to proceed without further clarification. This kind of opacity is something I’ve learned to be cautious about, as unexpected fees could quickly eat into any profits I make. The withdrawal process itself takes 5 to 10 business days, which is relatively long and could imply that XMR Markets charges fees for processing withdrawals. As a trader, I expect a clear and comprehensive fee structure to be disclosed upfront, and in this case, I would need to contact their support team directly for more information. Given the risks of surprise charges, I would strongly recommend getting clarity on all potential costs before committing any funds to XMR Markets.
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