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XEROMARKETS

Saint Vincent and the Grenadines|5-10 years|
High potential risk|

https://xeromarkets.com/

Website

Rating Index

Influence

Influence

D

Influence index NO.1

China 2.64

Surpassed 43.40% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 20 8123 5544
support@xero.com
https://xeromarkets.com/
Suite 305, Griffith Corporate Centre, P.O Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines.

Licenses

No valid regulatory information, please be aware of the risk!

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No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+44 20 8123 5544

English

+60 3-3310 0891

Other ways of contact

Broker Information

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Warning: Low score, please stay away!
Previous Detection : 2024-10-04
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

XEROMARKETS · WikiFX Survey

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XEROMARKETS · Company Summary

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

Feature Information
Registered Country/Region Saint Vincent and the Grenadines
Found 2017
Regulation unregulated
Market Instrument forex, metals and energy
Account Type XERO ECN, XERO REGULAR, XERO XL
Demo Account yes
Maximum Leverage 1:3000
Spread Vary on the account type
Commission Vary on the account type
Trading Platform MT4
Minimum Deposit $10
Deposit & Withdrawal Method Help2Pay, PayPal, Direct Bank Transfer, Visa, MasterCard, Maybank, Fasapay, Tether, Bitcoin, Local Depositor, and Bank Wire Transfer

General Information

XEROMARKETS, a trading name of Xero Capital Markets Ltd, is an online Forex and CFD broker founded in 2017 and registered in St. Vincent and the Grenadines.

Zerodha is an Indian financial service company, member of NSE, BSE, MCX, MCX-SX that offers retail and institutional broking, currencies and commodities trading, mutual funds, and bonds. Founded in 2010, it is known for its discount pricing model and innovative use of technology. The company claims to be “India's first discount brokerage” having debuted the “discount broking” model in India that is popular in developed markets.

Here is the home page of this brokers official site:

home page

Regulatory Information:

Xero Markets operates under Xero Capital Markets Ltd. However, the specific regulatory body overseeing their operations is not explicitly mentioned on the website. It's important to note that Xero Capital Markets does not offer its services to residents of certain jurisdictions such as Afghanistan, Cote dIvoire, Cuba, Iran, Libya, Myanmar, North Korea, Sudan, Puerto Rico, USA, Australia, Syria, Japan, and Ecuador.

General Information & Regulation

Introduction of Pros and Cons:

XeroMarkets offers a variety of appealing features. They offer a wide range of trading instruments, including Forex, Indices, Commodities, and Cryptocurrencies. But, it is important to consider some drawbacks, such as the lack of specific educational resources and bonus offers.

XeroMarkets
Pros Cons
Wide range of trading instruments (Forex, Indices, Commodities, Cryptocurrencies) Lack of specific educational resources
MT5 platform Lack of bonus offers
Generous leverage up to 1:3000 No detailed information about other trading costs
Multiple trading accounts offered Not mentioned, but possible lack of user-friendly interface
Low minimum deposit Not specified, but potential limitations in research tools
No 7/24 customer service
No regulation
Only MT5 supported
No social trading feature

Market Instruments

XEROMARKETS offers investors access to more than 77 tradable instruments across multiple asset classes, including forex, metals and energy.

products

Account Types

Apart from demo accounts, there are 3 live trading accounts available on the XEROMARKETS platform, namely XERO ECN, XERO REGULAR, and XERO XL, with minimum deposit requirements of $100, $10 and $10 respectively. Different accounts have different trading conditions.

Account Types

Account Opening Process:

To open an account, visit the registration page at XeroMarkets, choose the type of account you want to open, select your country from the dropdown list, enter your phone number, read and confirm that you have understood and agree with all Terms & Conditions by checking the box, and click on the “REGISTER” button to submit your registration.

You can open real account to trade and open demo account to learn how to trade.

open-account
open-account
open-account

Leverage

The maximum leverage offered by XeroMarkets is 1:3000. Leverage in forex trading is a powerful financial tool thatallows traders to increase their market exposure beyond the initial investment. For instance, with a leverage of 1:3000, as offered by XeroMarkets, a trader can control a position worth $30,000 with an initial deposit of just $10. This gives traders the ability to potentially generate substantial profits from relatively small price movements. However, it's worth noting that leverage can also amplify losses if the market moves against the trader's position.

leverage

It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Unregulated brokers tend to offer high trading leverage to attract new traders.

Spreads & Commissions

The XeroMarkets brokerage firm provides three different types of trading accounts: XERO ECN, XERO REGULAR, and XERO XL. Each account type offers distinct features, including variations in spreads and commissions. Here are the details about the differences between these three accounts:

XERO ECN Account:

Spreads: The XERO ECN account offers spreads starting from 0.0 pips. This means that the difference between the bid and ask prices can be as low as zero pips for certain trading instruments.

Commission: With the XERO ECN account, there is a commission fee of $7 per lot traded. The commission is charged separately from the spreads.

Execution: This account type utilizes an Electronic Communication Network (ECN) execution model, which allows for direct access to liquidity providers and potentially tighter spreads.

XERO REGULAR Account:

Spreads: The XERO REGULAR account provides spreads starting from 1.3 pips. This means that the difference between the bid and ask prices can be as low as 1.3 pips for certain trading instruments.

Commission: The XERO REGULAR account does not charge any commission fees. Traders using this account type only pay the spreads.

Execution: This account type likely employs a market maker or straight-through processing (STP) execution model, where the broker acts as the counterparty to clients' trades.

XERO XL Account:

Spreads: The XERO XL account also offers spreads starting from 0.0 pips, similar to the XERO ECN account.

Commission: However, with the XERO XL account, there is a reduced commission fee of $5 per lot traded, which is lower compared to the XERO ECN account.

Execution: Like the XERO ECN account, the XERO XL account likely operates under an ECN execution model, providing direct access to liquidity providers and potentially tighter spreads.

Trading Platform

XEROMARKETS offers traders the most popular MT4 trading platform available today. MT4 is the preferred choice of 80% of forex traders worldwide, with powerful charting tools, and a large number of custom technical indicators. The MT4 platform has an intuitive interface, and well-designed charting tools, featuring options to run automated trading sessions via EA trading, which traders can easily make changes and can even be compiled on a specially designed editor.

trading-platform

Deposit & Withdrawal

XEROMARKETS supports traders to access their accounts via Help2Pay, PayPal, Direct Bank Transfer, Visa, MasterCard, Maybank, Fasapay, Tether, Bitcoin, Local Depositor, and Bank Wire Transfer.

The minimum funding amount for card payments is $10. If your account is inactive for 6 months, an inactivity fee will apply.

Deposit
Deposit
Withdrawal
Withdrawal
Method Currency Conversion Min. Deposit (USD) Deposit Time Min. Withdrawal (USD) Withdrawal Time Notes
Help2Pay USD 1 = RM 4.80<br>USD 1 = IDR 15,300<br>USD 1 = VND 22,772.5<br>USD 1 = THB 32.55<br>USD 1 = PHP 50.01 15 Instant - -
PayPal Bank Rate 10 Instant 10 48 hours processing -
Direct Bank Transfer - - Under Maintenance 10 48 hours processing USD 1 = RM 4.60
Visa USD 1 = RM 4.80 10 Instant 10 48 hours processing USD 1 = RM 4.60
Mastercard USD 1 = RM 4.80 10 Instant 10 48 hours processing USD 1 = RM 4.60
Local Exchanger (MY) USD 1 = RM 4.80 10 5 mins - 24 hours 10 Within 5 mins - 48 hours USD 1 = RM 4.60
Fasapay Bank Rate 10 5 mins - 24 hours 10 Within 5 mins - 48 hours -
USDT (TRC20) Bank Rate 10 5 mins - 24 hours 10 Within 5 mins - 48 hours -
Bitcoin Bank Rate 10 5 mins - 24 hours 10 Within 5 mins - 48 hours -
Local Depositor (MY & IDR) USD 1 = RM 4.80<br>USD 1 = IDR 15,300 10 5 mins - 24 hours 10 Within 5 mins - 48 hours -
Bank Wire Transfer Bank Fees (USD) - - - 3-7 business days Contact support for details

Customer Support

XEROMARKETS customer support can be reached by telephone: +44 20 8123 5544, email: support@xeromarkets.com, or live chat. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube, TikTok and LinkedIn.

User Experience and Additional Features:

In terms of user feedback, reviews are mixed. One user mentioned that XeroMarkets has the fast spread compared to other brokers but experienced problems with the dashboard system. Another user expressed concern about the withdrawal process, stating that they felt scammed because their withdrawal request was not approved and their communications were not answered.

However, please note that these are just two reviews, and user experiences can vary widely. I was not able to find a significant number of reviews to provide a more comprehensive view of user experiences with XeroMarkets. Furthermore, the platform's additional features beyond what I've already mentioned could not be determined within the time frame. I recommend conducting further research and perhaps trying out their demo account to see if their services align with your trading needs.

Frequently Asked Questions (FAQs)

Q 1: Is XEROMARKETS regulated?
A 1: No. It has been verified that XEROMARKETS currently has no valid regulation.
Q 2: At XEROMARKETS, are there any regional restrictions for traders?
A 2: Yes. XEROMARKETS does not offer its services to the residents of certain jurisdictions such as Afghanistan, Cote dIvoire, Cuba, Iran, Libya, Myanmar, North Korea, Sudan, Puerto Rico, USA, Australia, Syria, Japan, and Ecuador.
Q 3: Does XEROMARKETS offer the industry-standard MT4 & MT5?
A 3: Yes. XEROMARKETS supports MT4.
Q 4: What is the minimum deposit for XEROMARKETS
A 4: The minimum initial deposit to open an account is $10.
Q 5: Does XEROMARKETS charge a fee?
A 5: Like every forex broker, it charges a fee when you trade - either in the form of a commission fee or spread fee. It also charges an inactivity fee.
Q 6: Is XEROMARKETS a good broker for beginners?
A 6: No. XEROMARKETS is not a good choice for beginners. Though it advertises very well, it lacks legitimate regulations.

News

Rumors or Reality? XEROMARKETS is on the verge of Collapse

ExposureRumors or Reality? XEROMARKETS is on the verge of Collapse

2023-05-08 18:16

There is a rumor said XEROMARKETS, an online forex broker, is about to close its operation without publicly informing its customers. This article is to go deep into this broker.

WikiFX
2023-05-08 18:16
Exposure
Rumors or Reality? XEROMARKETS is on the verge of Collapse
FROM XEROMARKETS TO ZERO

ExposureFROM XEROMARKETS TO ZERO

2023-05-06 16:54

According to the report, XERO Markets recently declare bankruptcy, and a lot of traders who use this platform are starting to worry. In addition, this broker has been given a low score by WikiFX and we also received a lot of complaints against this broker. Be careful!

WikiFX
2023-05-06 16:54
Exposure
FROM XEROMARKETS TO ZERO
XeroMarkets Review: High Leverage and Low Entry, but Is It Worth the Risk?

ExposureXeroMarkets Review: High Leverage and Low Entry, but Is It Worth the Risk?

2023-05-05 17:52

XeroMarkets offers a simplified trading experience with low entry threshold and fast withdrawals. However, its lack of regulatory licenses, transparency in trading conditions, and technological advantages raise concerns about legitimacy and client fund safety. It is recommended to consider alternative, regulated brokers.

WikiFX
2023-05-05 17:52
Exposure
XeroMarkets Review: High Leverage and Low Entry, but Is It Worth the Risk?
Charles Schwab And State Street Red Flag

NewsCharles Schwab And State Street Red Flag

2023-04-25 13:54

Investors and depositors are continuing to yank money out of low yielding banks and into higher yielding institutions or investment vehicles.

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2023-04-25 13:54
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Charles Schwab And State Street Red Flag

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