Independent Review - XPOken

XPOken is a fairly new online forex and CFD broker that is working to place the power back where it belongs – in the hands of its clients and traders. Located in St. Vincent and the Grenadines it opens itself to traders from over 100 countries around the globe, giving them the necessary tools to trade and to customize their own trading experience. The broker offers over 1,000 assets and has six different account types to serve all types of traders. Added to all that is a proprietary trading platform that is powerful enough for even the most knowledgeable trader.

Quick Look

XPOken is an online broker established in 2020 that prioritizes forex trading, but also has a multitude of other assets available to its clients. This makes it diverse enough for any trader. Based in the Caribbean nation of St. Vincent and the Grenadines, the broker is able to offer generous leverage up to 1:400 on some assets.

As a new broker it is clear from the start that they embrace modern principles, and their platform is on the cutting edge of modern trading technology. The platform is available for mobile platforms, or as a web-based tool, which is exactly what the modern trader prefers. And yet it remains powerful and capable of the technical analysis that helps traders to become more successful.

Beyond that the broker also offers six different account types to fit the needs of any trader. It is a secure and trustworthy broker, and reviews of its trading conditions are positive, recommending it as a suitable online broker.

Regulations

Because XPOken is located in the Caribbean Island nation of St. Vincent and the Grenadines there is no third-party regulatory agency providing regulation for the broker. While this does turn off some traders, those with more experience understand that this setup is not unusual. The broker remains fully responsible for creating client trust, and as such we believe they work even harder to keep clients happy.

Another benefit of trading with a broker in an unregulated jurisdiction is the lack of limitations when it comes to leverage. European traders looking for a broker that offers more than the 1:30 leverage allowed by MiFID standards will really appreciate that XPOken can give them leverage as high as 1:400 on select assets.

We do not believe that anyone should let the lack of regulation stop them from trading with XPOken.

Account Types

XPOken offers 6 different account types, with minimum deposit starting at $250.

Those who appreciate a variety of account types will like that XPOken offers six different levels, with increasing minimum deposits, and additional perks at each successive higher level. The smallest basic account comes with a $250 minimum, making it accessible for even traders with a limited amount of trading capital. There is a good choice for every level trader however, even those with years of experience in the markets. Below are the specifications for each level:

Student

• Min. Deposit $250
• 0.01 Min Lot Size
• XpTrade Platform
• Mobile Trading
• 24 Hour Trading

Starter

• Min. Deposit $2,500
• 0.01 Min Lot Size
• XpTrade Platform
• Mobile Trading
• 24 Hour Trading
• Islamic Account

Premium

• Min. Deposit $10,000
• 0.01 Min Lot Size
• XpTrade Platform
• Daily Analysis
• Mobile Trading
• Islamic Account
• Account Manager

Advanced

• Min. Deposit $25,000
• 0.01 Min Lot Size
• XpTrade Platform
• Mobile Trading
• Account Manager
• Daily Analysis

Pro

• Min. Deposit $50,000
• 0.01 Min Lot Size
• XpTrade Platform
• Islamic Account
• Account Manager
• Daily Analysis
• Fixed Pricing

VIP

• Min. Deposit $100,000
• Hidden Specifications
• Ask Your Account Manager For More Information

Available Assets

One of the strengths of XPOken is the multitude of assets they make available to traders. As you might expect from a broker that is focused on forex XPOken has more than 90 currency pairs available on its platform. These range from major and minor pairs to the exotic pairs that can be difficult to find elsewhere. And they do not stop with fiat currencies. They also offer a number of the new digital assets known as cryptocurrencies.

Besides their currency offerings traders can also take advantage of trading CFDs on more than 1,000 of the top global company’s shares. And there are also global indices available. Beyond that traders are able to trade on spot commodities like the ever popular gold and crude oil.

Truly there is something for everyone at XPOken.

Trading Platforms

Unlike the majority of online brokers XPOken does not offer either of the MetaQuotes platforms. Instead, they have a proprietary platform known as XPTrader. It is available as a web-based platform or can be downloaded to either Android or iOS mobile devices. There is no desktop platform available, but that should not be a detraction for the modern trader, who tends to prefer web-based and mobile applications for the ease of use and availability.

The platform offers advanced financial trading functions, as well as superior tools for technical and fundamental analysis. Features:

• More than 1,000 financial instruments to trade
• No slippage, no requotes
• Flexible leverage up to 1:400
• Most advanced platform
• XpTrade available on Windows, Android and Apple

Banking

Banking at XPOken is done right through the trading platform, and the broker accepts deposits via a number of popular methods. Bank wires, credit/debit cards, and a variety of online wallets are all acceptable methods for depositing at XPOken. In addition, there are no fees for depositing.

Withdrawals are just as easy, and all the same methods are supported. Plus, there are also no fees assessed on withdrawals, which is refreshing to see from an online broker. Withdrawals are processed the same day when made during normal business hours.

Customer Service

Customer support is taken seriously at XPOken, and the customer support service is considered to be excellent. Support personnel are experienced, knowledgeable, and professional. While it is best if you do not ever need to contact support, it is also good to know that if it does become necessary that you will receive excellent service.

The support team is available 24/5, which is standard in the industry, and you can reach out to them via email, telephone, or through the online chat portal on the website.

Phone: +1 8008614098

Email: info@xpoken.com

In Conclusion

XPOken may not be regulated, but they are a solid choice in every other way. From the massive number of assets available, to the variety in account types, to their excellent customer service they have been created to please their clients, and to give the trading power back to the traders.

We were also impressed with the XPTrader platform, which is a fresh take on trading with its web and mobile only implementation. If you are looking for a new broker, we recommend you give them a try.