Review XPOken

Headquarters in St. Vincent & the Grenadines

XPOken is a new forex and CFD broker that started doing business in 2020. In the short time it has been in operation it has started to create a good name for itself, offering traders flexible leverage, and a wide variety of assets and asset classes. Based in St. Vincent and the Grenadines means there is no regulation provided to the broker, but by all accounts, they remain a secure option for traders looking for a good online broker.

The first thing you will notice about the broker is how clearly information is presented by them on their website. The functionality is top-notch, and that follows through to the XPTrade platform being offered by the broker. They have broken away from the typical MetaTrader offering to present their clients with a solid trading platform that is both powerful and easy to understand.

XPOken Quick Look

Here are some of the prominent pros and cons of XPOken:

XPOken Pros and Cons

Pros

  • No fees on withdrawals
  • Plenty of available assets
  • Flexible leverage up to 1:400

Cons

  • Unregulated
  • No desktop version of the trading platform
  • U.S. citizens and residents not accepted as clients

Broker Regulation

XPOken is located on the Caribbean Island of St. Vincent and the Grenadines, and there is no regulating authority providing any oversight in this jurisdiction. While this is a concern to some traders, it does offer the traders the ability to access much greater leverage than those brokers that are regulated and fall under MiFID requirements.

The lack of regulation is sometimes overblown too, as the broker is well aware that it needs to provide a fair and transparent service if it wants to continue attracting new clients. With information so readily available online any transgressions by the broker will soon be spread to every corner of the internet. That said, we were unable to find any bad reviews for XPOken. We believe the broker to be trustworthy, even without third-party oversight.

Account types

Traders who appreciate increasing perks based on the size of their account will appreciate the six account tiers offered by XPOken. The broker makes it easy to get started, with a basic ‘Student Account’ that requires a low minimum deposit of just $250. Below are the specifications of each account tier:

XPOken Account types

Student Account

  • Min. Deposit $250
  • 0.01 Min Lot Size
  • XpTrade Platform
  • Mobile Trading
  • 24 Hour Trading

Starter Account

  • Min. Deposit $2,500
  • 0.01 Min Lot Size
  • XpTrade Platform
  • Mobile Trading
  • 24 Hour Trading
  • Islamic Account

Premium Account

  • Min. Deposit $10,000
  • 0.01 Min Lot Size
  • XpTrade Platform
  • Daily Analysis
  • Mobile Trading
  • Islamic Account
  • Account Manager

Advanced Account

  • Min. Deposit $25,000
  • 0.01 Min Lot Size
  • XpTrade Platform
  • Mobile Trading
  • Account Manager
  • Daily Analysis

Pro Account

  • Min. Deposit $50,000
  • 0.01 Min Lot Size
  • XpTrade Platform
  • Islamic Account
  • Account Manager
  • Daily Analysis
  • Fixed Pricing

VIP Account

  • Min. Deposit $100,000
  • Hidden Specifications
  • Ask Your Account Manager For More Information

Trading Platforms

XPOken uses a proprietary trading platform called XPTrader. This is a web-based and mobile platform (there is no desktop version), that offers traders the ability to not only trade in all of the assets offered by the broker, but to also perform technical analysis on various price charts. The trading platforms are well optimized for both web and mobile, making them ideal for the modern trader who is always on the go.

The trading platform also includes a demo account, allowing traders to test out the trading conditions, or any prospective trading strategies, before risking any actual capital.

Available Assets

The broker makes all the major asset classes available to traders and features more than 1,000 individual assets. The forex and share offering are extremely broad, which is favored by many of the new traders. The assets offered are truly a universal set and fall into the following categories:

XPOken Available Assets
  • Forex – Over 90 pairs that include majors, minors and exotics
  • Spot Commodities – Trade spot gold and a diverse offering of commodities
  • Spot Indices – A wide variety of global indices with minimum margin requirements
  • Spot Energies – Invest in crude oil and natural gas
  • Individual Shares – Over 1,000 of the world’s top company shares
  • Cryptocurrencies – Many of the most popular cryptocurrencies, including Bitcoin and Ethereum

Education and Research

There is no apparent education and research materials offered for free on the broker website. Traders will need to get to the Premium Account level ($10,000 minimum deposit) to gain access to the broker’s daily analysis materials. If education is needed traders will need to go elsewhere, which is not a huge deal since there are so many online resources available that provide trading education.

Customer Service

Similar to most other brokers in the industry the customer service team at XPOken is available 24/5, with the weekends off. The customer service team has been reported as knowledgeable and patient, as well as capable of solving most issues very rapidly. Obviously, you do not want to need to contact customer service, but if it becomes necessary at XPOken it is good to know you will be working with professionals.

Customer service staff can be reached via an online chat tool, via telephone, or through email channels.

Phone: +1 8008614098

Email: info@xpoken.com

In Conclusion

Taken all together the service offered by XPOken is one that can serve many different types of traders. The broad array of assets offered, and many tiers of accounts assures that each trader can customize their experience to suit their trading experience and goals. Plus, the trading platform is modern and accessible, and the trading conditions are favorable, with flexible leverage available.

Funding your account is easy, and while the education and research is limited, this is something that can be found at many online outlets. If you want a new broker to try, then XPOken might be an ideal choice.

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