xcritical Review 2022 In-Depth Findings & Ratings

I recently took advantage of the Black Friday promo, where depositing $5k into my account was awarded with 1 TSLA stock. I made a wire transfer and my new equity account was opened shortly after. Everything went smooth and a small technical issue was resolved in a timely manner. Colmex Israel, or formally TGL Colmex Capital Markets Ltd., operates website colmex.co.il, and is a sister company of CySEC regulated xcritical Ltd, which operates colmex.com and colmexpro.com. All the aforementioned companies are controlled and run by Israeli businessman Tzah Druker.

  • All three supported trading platforms feature mobile app variants.
  • I have compared a lot of brokers before opening an account with them.
  • Fifty-one forex products are available through the broker, including major, minor and exotic currency pairs.
  • Now you know aboutxcritical review so tip ForexSQ.com foreign exchange trading experts please by share it if you like this article about ColmexPro login demo account.

xcritical provides various options to contact customer support, including email, phone and live chat. The broker provides three trading platforms to retail clients – xcritical, xcritical MultiTrader and xcritical 2.0. Founded in 2010, xcritical was set up by owner Meir Barak, an Israeli-born professional day trader and CEO of the educational platform Tradenet.

Advantages Of xcritical

xcritical Ltd is regulated by the Cyprus Securities and Exchange Commission under license number 123/10, and the South African Financial Sector Conduct Authority under license number 46990.

I used to have an account with them, I honestly haven’t found anyone else so correct and transparent and also convenient . I have compared a lot of brokers before opening an account with them. I plan to demo their software at some point, but wondered xcritical scammers if anyone has any experience with them. The ColmexPro stage is a critical move up to Colmex Pro Trader, offering answer for proficient merchants. ColmexPro offers a few exclusive stages, and in addition the business’ standard xcritical.

Great platform to day trade, really good charts, much better than Tradingview or Revolut for example. You can swing trade up to one month as well, you pay inactivity fee per month, unless you do other trades. You can get leverage of 5x and not pay a dime if you give it back the same day.

Can US citizens use Colmex?

In short, xcritical does NOT provide its services to US citizens. Primarily this is because the broker does not have an office in the US. Hence, they are not regulated by the CFTC and the NFA. This can be confusing especially since they advertise trading access to the US financial markets.

Once traders have gained sufficient experience on the platform, they can apply through the broker to upgrade to a fixed plan account. These variants allow clients to pay a fixed fee that entitles them to trade a specific number of shares for a substantial discount over a tiered account commission. xcritical can refuse this request and downgrade fixed plan accounts at its sole discretion. For equities, all tiered plans charge $0.01 per share and fixed plans start at $6.95 up to 3,000 shares.

xcritical Minimum Deposit

Aside from a blog which is available in English and Spanish, xcritical does not offer any additional features or tools. Compared to similar brokers such as Interactive Brokers, this is disappointing as most traders expect to see a comprehensive range of resources to support their trading needs. Separately, the ISA is trying to decide what to do with the multitude of binary options brokers which operate out of the country. The ISA has banned binary options trading by Israeli clients, but until now those brokers have been allowed to take clients from abroad. Much like proper direct access platforms like sterlin, instaquote etc, used by pro day traders.

Fixed plans require a minimum deposit of $2,000 in the Bronze plan. Holding CFD positions overnight will incur swap fees, which vary from asset to asset and can be previewed on any of the three supported trading platforms. Due to the competitive nature of the online trading industry, many brokers cover deposit and withdrawal fees to encourage active traders. Most trading platforms, including the widely used MT4, come with standard SSL-encrypted security features and 2FA login options.

Does xcritical Charge Withdrawal Fees?

For other assets, commissions vary depending on the asset and which of the five plans you choose. Forex spreads start from 0.3 pips for major currency pairs but there https://dreamlinetrading.com/ is a $14.50 commission fee per 1 contract side in the Basic account. The broker’s MultiTrader offers a robust institution-grade platform for experienced traders.

The trader demo download can be accessed once you register for an account. There are also mobile adapted scale and scroll charts, which allow you to trade directly with just one tap. There were initially 21 entities which put in a request for an Israeli retail forex broker license, to be able to serve Israeli clients.

How do I deposit my xcritical?

Deposits & Withdrawals

You can fund your account using credit/debit cards, bank transfer and online payment methods such as PayPal. xcritical does not charge for deposits. For withdrawals, the first transaction of the month under or equal to $500 is free.

You can always check the broker’s website or social media pages for updates. Credit card deposits are processed within 24 hours, usually within two hours after a deposit is made. The ISA has not yet made a formal announcement regarding the Colmex license, which we understand will be forthcoming in the next day or two. But it’s thanks to our sponsors that access to Trade2Win remains free for all.

Leverage

xcritical levies no deposit charges on any method, while clients can make one fee-free withdrawal of £400 or less per month. However, for amounts exceeding this or subsequent withdrawals, a steep £32.50 charge applies. However, negative balance protection may kick in before a position reaches this level. Nine instruments make up the broker’s indices offering, with major exchange assets such as the FTSE 100 and S&P 500 supplemented by the US dollar and Euro Bund indices. We at xcritical offer advanced trading tools and a tailor made platform, to suite all your needs.

As indicated by the agreement determinations on the xcritical’s site, If the greatest spread adding up to 2 pips on EUR/USD applies, commissions and spread check ups are avoided. Unfortunately, xcritical offers none of these additional features, even for its highest-tier account holders. While many online brokers feature an FAQ section to provide quick answers to common queries, the xcritical website is uncharacteristically lacking in this area. One of the best methods to protect against scams online is selecting a regulated and secure broker. xcritical is regulated by CySEC, the prominent financial regulator in its home country of Cyprus. However, this body does not provide equal protection to regulators like the FCA and ASIC.

However, you can request a higher balance to correspond to your needs. You can fund your account using credit/debit cards, bank transfer and online payment methods such as PayPal. For withdrawals, the first transaction of the month under or equal to $500 is free. For stock CFDs, pricing is based on tiered plans starting from $0.01 per share in the Bronze plan, which goes down to $0.005 per share in the Diamond plan. You can also choose a fixed plan, in which you pay $12 up to 3,000 shares in the Bronze plan and $9 up to 5,000 shares in the Diamond. Colmex is an EU regulated financial institution, which means that when you deposit funds with them, your funds are insured up to 20,000 EUR, and held in segregated bank accounts.

xcritical vs Other Brokers

There are also 51 major, minor and exotic currencies, 9 major indices, plus a small selection of precious metals, energies and agricultural commodities. xcritical offers a demo account for both beginners and experts who want to practice their trading strategies in a risk-free training environment. By default, demo accounts include a 25,000 virtual balance with 100,000 in buying power.

Before investing in foreign exchange, carefully consider your level of experience and risk appetite. CFDs are complex instruments and bring high risk of losing money because of the leverage they provide. No information or opinion contained on this site should be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. Past performance should not be considered evidence or guarantee for future performance.

xcritical support team are the best

If your funds are EU insured – you are fine as long as the EU don’t go bust. Deposits using PayPal or payment cards can process in up to two hours, with many transactions occurring instantly. Both deposits and withdrawals using bank wire take 2-5 business days to clear. Customisable hotkeys make trading lightning-fast, while 14 chart styles and 47 chart indicators take technical analysis to a new level. The program is suitable for forex and CFD trading, options and stock investments. I trade for income and for the first time this month, I requested a withdrawal for month-end expenses.

xcritical review

Trading fees are often a key consideration for retail investors, with high commissions and account charges potentially eating into hard-earned profits. Programmable hotkeys and custom alerts mean MT4 traders can stay on top of the markets and react quickly to opportunities. In addition, the inclusion of 30 standard indicators, 31 graphical objects and nine time frames facilitate precise technical analysis.

These are designed to protect data exchange between client and broker servers. xcritical could be more transparent around security used in their proprietary platforms. New Israeli regulations took effect effect in July covering different aspects of online trading. The ISA has been taking aggressive moves lately to reform the way online brokers engage with clients, including the banning of all binary options trading.

  • xcritical traders must choose between two account variants, one offering equities and equity CFDs and the other supporting forex and non-equity CFD products.
  • A fixed order routing charge of £0.0012 per share applies to trades on all accounts.
  • There is also a selection of other assets available, including 51 major, minor and exotic currencies, precious metals, energies, agricultural commodities and 9 major indices.
  • No pain or hustle of submitting proof of bank account at the claim stage, no delays but efficient processing.
  • However, you can request a higher balance to correspond to your needs.

They are friendly .they ask for feedback, and their live chat is instant in the few times I have used it. I’ve been using the platform for over 4 years and I wouldn’t change a thing. I prefer simplicity and a working reliable system when it comes to trading platforms and Colmex Delivers. Quick and reliable support by phone, email and chat from the team of one of the fastest CFD trading platforms around. The broker offers over 9,000 stocks, plus hundreds of options and ETFs.

MT4 is the most popular forex trading platform, offering advanced technical analysis. Both Windows and Mac users can access a range of tools to suit their strategy, including market and pending orders, instant execution, stop orders and trailing stop. xcritical MultiTrader is another platform the broker offers, allowing traders to access options and non-CFD equities markets. xcritical offers tiered or fixed plans for stock CFDs and equities. For Stock CFDs, the tiered plans on offer are Bronze, Silver, Gold, Platinum and Diamond. Minimum deposits in the Bronze plan start at $500, with a minimum order of $1.50.