What Account Types and Fees Does Xlence Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Xlence Essential |
Beginner traders |
Free account with basic features |
No minimum deposit required |
| Xlence Prime |
Intermediate traders |
Competitive spreads, higher leverage |
Ideal for those with some trading experience |
| Xlence Deluxe |
Experienced traders |
Low spreads, advanced trading tools |
Requires minimum trading volume |
| Xlence Ultimate |
Professional traders |
Customizable services, premium features |
Eligibility based on account performance |
| Islamic Account |
Traders requiring swap-free options |
Complies with Sharia law, no interest charges |
Available to all clients on request |
| Demo Account |
All trader types |
Risk-free trading environment |
Useful for practicing strategies without capital |
Account Opening Process
To open an account with Xlence, traders must follow a straightforward process involving several steps. Initially, users will need to provide personal information including their name, email address, and phone number. Following this, employment and financial background details must be submitted to assess suitability for trading. Identity verification is a crucial step, requiring the submission of a government-issued ID and proof of address to ensure compliance with regulatory standards. Additionally, Xlence offers the flexibility for clients to upgrade their accounts, such as moving from an Essential account to a Professional account, as their trading experience and volume grow.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive for common pairs |
| CFDs (XAU/USD) |
0.18 |
$0 |
Low spread on gold trading |
| CFDs (Indices) |
1.2 |
$0 |
Standard spreads for index CFDs |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
When trading with Xlence, clients should also be aware of additional fees that may apply. These include deposit and withdrawal fees, which can vary based on the payment method chosen. Inactivity fees may apply to accounts that have not engaged in trading for an extended period. Platform usage fees are generally not applicable, ensuring that users can access the trading platforms without extra costs. Additionally, traders should consider overnight interest or swap rates, particularly for positions held beyond one trading day, as well as potential currency conversion fees when trading across different currencies.
