xDirect Markets is a broker that offers various products, including 50 currency pairs, a wide range of CFDs on indices, commodities, shares, and ETFs. XetaDirectLtd stands behind the brand. It is registered in the Republic of Vanuatu.
- Start year:2002
- Country of origin:Vanuatu
- Payment options:wire transfer, Visa/MasterCard, WebMoney, W1
- Minimum account size:$100
- Minimum lot size:0.01
- Leverage:up to 1:200
- Spreads:floating, fixed, from 0.6 pips
Meanwhile, xDirect claims that it works within the framework of the current legislation of Ukraine, and that the company takes an active part in the development of mechanisms and standards for financial markets’ regulation in the country. The broker has its headquarters in Kiev, Ukraine.
Vanuatu is a popular offshore jurisdiction. Getting a license from the Vanuatu Financial Services Commission (VFSC) is easier than from many other regulators. Companies are exempted from the reporting and financial audits. Nevertheless, xDirect declares that it is guided Markets in Financial Instruments Directive (MiFID) and the current legislation of Ukraine; undergoes regular legal audit and is a member of the European Business Association (EBA).
Moreover, the company takes an active part in developing mechanism and regulation standards for financial markets in Ukraine.
Our recommendation is to be cautious when investing large amounts in offshore brokers. But, on the other hand, xDirect has over a decade-long market presence.
xDirect offers three main account types: Electron, Classic UAH and Classic USD. In addition to the initial deposit, three accounts offer similar trading conditions: leverage up to 1:200, fixed/variable spreads, interest-free trading and micro-lot trading.
The Classic USD account offers CFD trading based on STP technology. Traders who decide to trade with Classic UAH should know that the work is conducted in the legal field of Ukraine, and profits are taxed according to the current legislation of the country.
In addition, there is a VIP offer for accounts with deposits of more than $30,000. Such account holders are offered a personal manager, 30% deposit bonus and discounts. The minimum amount required to open an account with xDirect is $100, or 1000 UAH.
This broker has both fixed and variable spreads in its portfolio. The average spreads are 1.6 pips on EUR/USD.
It is noteworthy that STP Classic USD accounts offer professional CFDs with rates of just 3 pips, which include a $10 commission.
xDirect offers its customers a choice of two platforms: MetaTrader 4 and xStation.
xStation is a convenient, fully customizable platform developed by XOpenHub, which is equipped with more than 20 instruments for technical analysis and a customizable Marketview window. The platform is available for Windows, Android and iOS, and also runs directly in the browser. It is possible to manage several accounts and conduct social trading from the platform.
Like most brokerage companies, xDirect also supports the MetaTrader 4 (MT4) platform, available for PCs, web and mobile devices.
The xSocial platform allows you to monitor the trading of other investors and copy their trades with just one click.
Analytical and educational materials are available on the website. The broker offers self-study, consisting of 7 lessons, or individual online training. To specify prices for training courses, contact the company’s managers.
The broker offers additional income, taking part in its affiliate program. xDirect has two programs: Introducing Broker (a brokerage business is conducted under xDirect brand) and WhiteLabel (clients do business under their own brand.)
xDirect clients have the following payment options available: credit/debit cards (Visa, MasterCard), wire transfer and WebMoney, W1 e-wallets.
Support service can be contacted by phone, email, Skype or a live chat. In addition, the broker makes appointments with customers in its office in Kiev during business hours from Monday to Friday. In case a trader does not have an opportunity to visit the office during working hours, it is possible to set up an individual meeting.