Note: xDirects official site (https://xdirect.group) is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading is dangerous, and you could potentially lose all of your investment funds. Not all investors and traders are suitable for it. Please understand that the information on this website is designed to serve as general guidance, and that you should be aware of the risks.
General Information
What is xDirect？
xDirect is an unregulated financial services provider that offers Contracts for Difference (CFDs) on various assets, including spot metals, commodities, indices, and a wide range of currency pairs, including exotic ones like the Chilean Peso, Brazilian Real, Polish Zloty, and more. The company provides access to well-known trading platforms like MetaTrader 4 (MT4) and the web-based xStation platform, along with mobile versions for on-the-go trading. While the website offers spreads as low as 0.1 pips for PRO+ and PRO accounts, and 1.2 pips for STANDARD accounts, it's important to be cautious as there is no information available about their regulation.
Pros & Cons
xDirect Alternative Brokers
There are many alternative brokers to xDirect depending on the specific needs and preferences of the trader. Some popular options include:
IG - A globally recognized broker known for its competitive spreads, extensive market coverage, and user-friendly platforms - recommended for traders of all levels seeking a reliable and feature-rich trading environment.
Avatrade - A well-regulated broker with a comprehensive range of trading instruments and multiple trading platforms - recommended for traders looking for a diverse range of markets and advanced trading tools.
XTB - Known for its combination of educational materials, comprehensive market analysis, and a custom trading platform, it's an excellent choice for new and experienced traders alike.
Is xDirect Safe or Scam？
xDirect Markets has a London address and contact details, but the website contains no information about any regulation whatsoever. And the website is unavailable. It is highly risky to trust your money with unregulated or “regulated” in offshore zones brokers as they have no legal obligation to obey any ethical rules and basically can do with your money whatever they please.
The broker claims to be regulated by Vanuatu Financial Services Commission (VFSC, license no. 14652) by Vanuatu. However, we can find that the current status is suspicious clone.
Market Instruments
xDirect is a financial services provider that offers a wide range of trading options through Contracts for Difference (CFDs). One of the key areas where xDirect provides CFD trading is in the realm of spot metals. These include commodities like gold, silver, and other precious metals, which are often sought after by traders and investors for their intrinsic value and safe-haven appeal during uncertain economic times.
Moreover, xDirect offers CFDs on a diverse selection of commodities. These can encompass a broad array of physical goods, such as oil, natural gas, agricultural products, and more.
In addition to spot metals and commodities, xDirect enables clients to trade CFDs on indices. These are groups of stocks representing a specific segment of the market or the overall market performance in a particular region.
Beyond traditional financial instruments, xDirect provides access to the foreign exchange (forex) market, offering CFDs on 46 currency pairs. These pairs include major currency combinations like EUR/USD, GBP/USD, and USD/JPY, as well as more exotic pairs like the Chilean Peso (CLP), Brazilian Real (BRL), Polish Zloty (PLN), Czech Krona (CZK), Hungarian Forint (HUF), Romanian Leu (RON), Turkish Lira (TRY), Mexican Peso (MXN), and South African Rand (ZAR).
Accounts
xDirect offers a range of trading accounts to cater to the diverse needs and preferences of traders. Here's a general summary of the different types of accounts they provide:
Minimum Deposit: 1000 USD / 30000 UAH
This account type is likely designed for more experienced or professional traders who may require additional features and benefits.
Minimum Deposit: 100 USD / 3000 UAH
The STANDARD account is probably suitable for traders who are starting out in the world of online trading and wish to begin with a smaller initial investment.
Minimum Deposit: 100 USD / 3000 UAH
The PRO account might be tailored for traders who seek a balance between the features of the PRO+ and STANDARD accounts.
Leverage
xDirect provides traders with a maximum leverage of 1:400, which can be a valuable tool in their trading arsenal. Leverage allows traders to control positions that are significantly larger than their initial investment, amplifying potential profits.
However, it's essential to recognize that higher leverage also increases the risk exposure. While the potential for higher profits is enhanced, the potential for substantial losses is equally magnified. Traders should be cautious and fully understand the risks associated with using leverage in their trading strategies.
Spreads & Commissions
PRO+ accounts enjoy the tightest spreads, starting as low as 0.1 pips, making it an attractive option for traders who seek competitive pricing on their trades. In addition to the spread, traders using PRO+ accounts are charged a commission of 8 USD per lot for each trade executed.
PRO accounts also benefit from spreads starting at 0.1 pips, providing traders with favorable trading conditions. Traders using PRO accounts are subject to a commission of 12 USD per lot for each trade they make.
STANDARD accounts offer a spread of 1.2 pips, which is higher compared to the PRO+ and PRO accounts. However, traders using STANDARD accounts do not incur any commission charges for their trades.
Below is a comparison table about spreads and commissions charged by different brokers:
Trading Platform
In addition to the popular MetaTrader4 platform, xDirect also provides the web-based xStation platform. Mobile versions of both platforms are accessible. The benefits of MetaTrader4 are well known. The platform not only offers outstanding graphic capabilities for exploring and analyzing historical data, but also supports automatic trading using specialized configurable software called Expert Advisor.
While both platforms offer distinct advantages, traders may choose the one that aligns best with their trading style and preferences. Some traders may find the extensive features and automated trading capabilities of MT4 more suitable for their needs, while others might appreciate the convenience and accessibility of the xStation web-based platform.
See the trading platform comparison table below:
Deposits & Withdrawals
The minimum deposit for opening an account with xDirect is 100 USD / 3000 UAH, which is quite high. While most brokers only ask a minimum deposit of 100 USD, other large, well-known brokers like IG do not require any minimum deposits at all.
In fact, we were unable to locate the brokerage's terms and conditions, much alone learn what payment options are accessible to prospective clients. This should always be seen as a red flag. Without adequate information on the withdrawal process, we can't be certain that the brokerage won't charge clients any unexpected withdrawal costs.
Customer Service
Due to the closure of the official website, we were unable to learn the exact contact details. The links known so far are Facebook, and a specific address.
The link to Facebook: https://www.facebook.com/xDirect.UA
The address: 2nd Floor, Transpacific House, Lini Highway, Port Vila, Republic of Vanuatu
Conclusion
xDirect is a financial services provider that claims to offer a diverse range of trading options, with access to various financial markets and platforms for traders to choose from. The company advertises competitive spreads and offers the popular MT4 platform with automated trading capabilities through Expert Advisors. However, potential clients should be aware that there is no information about regulation available on the website, which raises concerns about the company's transparency and adherence to ethical practices. Trusting funds with an unregulated broker can be highly risky, and traders are advised to conduct thorough research and consider regulated alternatives to ensure the security and protection of their investments.
Frequently Asked Questions (FAQs)
Q1: What is the minimum deposit required for different types of accounts at xDirect？
A1: The minimum deposit requirements vary for different account types. For example, the PRO+ account requires 1000 USD / 30000 UAH, the STANDARD account requires 100 USD / 3000 UAH, and the PRO account also requires 100 USD / 3000 UAH.
Q2: Is xDirect regulated？
A2: The broker claims to be regulated by Vanuatu Financial Services Commission (VFSC, license no. 14652) by Vanuatu. However, we can find that the current status is suspicious clone.
Q3: What trading platforms are available at xDirect？
A3: xDirect provides access to MetaTrader 4 (MT4) and the web-based xStation platform, both of which have mobile versions for trading on-the-go.
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