RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
XNT LTD is a Maltese broker that mostly seems to be directed towards bigger clients with more capital to spare. The minimum deposit the broker asks for is extremely big and their fees also lead toward the higher end of the scale. If you are, however, willing to pay a bigger amount of money to trade, XNT LTD might be worth considering. They offer excellent spreads, a decent trading platform, and a huge variety of trading instruments. Read the review below and decide for yourself.
XNT LTD REGULATION AND SAFETY OF FUNDS
XNT LTD is based in Malta and licensed by the local financial regulator, MFSA (Malta Financial Services Authority):
Such a license by a respected EU financial institution proves that trading with a certain broker would be a safe bet. Licensed brokers answer to strict authorities and are obligated to conduct business in a manner that respects all laws and regulations. Such brokers have to meet a number of requirements to prove that they are reliable.
EU brokers specifically have to prove that they are financially stable by maintaining a minimum operational capital of €730 000. That number, however, can vary a little from country to country and could be higher for brokers that have many clients to tend to. EU brokers also have to participate in compensation schemes. In case such a broker goes bankrupt, each of their clients is entitled to a compensation of up to €20 000. Negative balance protection is a must for all retail clients – you can never lose more money than you have in your account. Finally, all EU brokers are obligated to keep client money separate from their own in segregated bank accounts. This proves that the broker is not using your funds for their own endeavors, speeds up withdrawals, and, again, protects your money in case of broker insolvency.
XNT LTD TRADING SOFTWARE
XNT LTD offers access to its own trading platform. That platform allows you to trade on the web, from a desktop Windows, macOS, or Linux terminal or using your iOS or Android smartphone.
The platform looked slick and modern and allowed advanced market analysis and algorithmic trading. The offer of decent, functional custom-developed software is always welcome.
Most other legitimate brokers, however, allow their clients to access multiple excellent platforms – be it their own custom-developed software, or renowned trading platforms such as MetaTrader 4 and MetaTrader 5. We would definitely suggest that you try out MT4 or MT5 – these have been the most popular platforms in the industry for decades and for a good reason. Both of them offer an extensive charting and analysis package on top of their many other functionalities. You will not only be able to employ Expert Advisors to trade automatically but also be able to develop custom scripts (including trading bots) and purchase VPSs that can keep your EAs operating at all times. Clients can set signals for prices going up or down, or subscribe to those set by others for a small monthly fee. A market for additional trading apps is also available.
Do not hesitate to check out renowned brokers that offer MT4 or MT5 – or both.
| MetaTrader 5 brokers | |||
| XM | FXTM | FPMarkets | Pepperstone |
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XNT LTD TRADING CONDITIONS
XNT LTD offers one type of account – and that account is quite pricy. In order to start trading with the broker, you would have to invest at least €50 000. This proves that this broker is mostly targeting more experienced and well-capitalized professional traders. As a smaller retail customer – and especially as a beginner- you would probably not benefit from investing such a high amount of funds initially. Our suggestion would be to check out some more affordable brokers.
Otherwise, the trading conditions XNT LTD offers seem to be quite good. You can open an account in a huge number of currencies- GBP, USD, JPY, EUR, CHF, CZK, SEK, CAD, HKD, MXN, PLN, NOK, SGD, and AUD. The range of markets and instruments is more than impressive – over 600 000 instruments across markets such as forex, metals, futures, stocks, ETFs, options, bonds, and funds.
The spreads the broker offers also seem great. The average spread on EURUSD is way lower than the industry average of 1.5 pips – just 0.3 pips. However, keep in mind that the broker charges various additional fees and commissions that it has described in detail in a separate sheet. You have to be ready to pay a commission of between 0.01% and 0.1% per trade round-turn – the exact size depends on the instrument you are trading.
There are other fees that you should consider. There is an inactivity fee of €50 after 6 months of trading activity. However, if your account balance is over €5000 or you have at least one open position, such a few will not be charged.
There is €90 for manual execution in case of a margin call. You would also have to pay €90 for trading any instrument on the platform via EXANTE Trade Desk or for ordering custom reports and documentation.
The size of these fees is quite high and again proves that this broker is not directed towards smaller retail traders.
XNT LTD DEPOSIT AND WITHDRAWAL METHODS AND FEES
XNT LTD only allows deposits and withdrawals via wire transfer. The minimum withdrawal amount is €30. This is actually a very limited range of payment options – but one that is understandable given the high deposit amount the broker requires. Most other legitimate brokers would also accept card payments, various electronic payment solutions, and even cryptocurrencies.
Keep in mind that the broker does not cover deposit and withdrawal fees. Fees for international wire transfers can be quite high and reach $50-$80 on some occasions. Do not be surprised if you have to pay a quite decent amount of money just so can deposit or withdraw funds with XNT LTD.
BOTTOM LINE
XNT LTD is a reliable, EU-regulated broker that allows you to trade a huge number of instruments on an excellent trading platform. The problem is that this broker would definitely not be accessible to most retail traders since they ask for a very high minimum deposit. Even though XNT LTD is not a bad choice, we still believe that there are better brokers that are just as reliable – and that you should consider investing with.
