XtreamForex Broker Review For Africa In 2024

XtreamForex Broker Review Basics

🏛️ Based in	Majuro, Marshall Islands
⚖️ Regulation	FSC (Financial Services Commission)
💰 Minimum Deposit	$5
💳 Deposit Options	VISA, MasterCard, Bitcoin , Neteller, Skrill, Bank Wire, Online Naira, Pay Trust, & Help to Pay.
💳 Withdrawal Options	VISA, Neteller, Skrill, Bank Wire,FasaPay,Crypto, PayRedeem, Perfect Money, WebMoney, & BitPay.
📌Open an account	Start Trading with XtreamForex

Our Opinion About XtreamForex

When searching for a forex and CFD broker as a trader in Africa, it’s crucial to find a well-regulated and reliable provider. After conducting an in-depth review, we believe XtreamForex checks all the boxes for African traders. XtreamForex is licensed by the Financial Services Commission (FSC) in Mauritius and offers a transparent and competitive trading environment. While no broker is perfect, our assessment is that XtreamForex provides an overall excellent service worthy of consideration.

Key Benefits

Regulation and Safety

XtreamForex holds a Global Business License from the FSC in Mauritius, under number GB20022951. Mauritius is a respected financial hub with strong oversight, so XtreamForex falls under robust regulatory supervision. This assures traders that the company adheres to strict standards around client fund segregation, financial reporting, and transparent practices. 

Additionally, XtreamForex employs industry-standard security measures like SSL encryption and two-factor authentication. They also provide negative balance protection, so traders cannot lose more than their account balance. These precautions help create a safe trading environment.

XtreamForex Broker Review: Legit or Scam?

After thoroughly evaluating key aspects like regulation, trading platforms, asset offerings, and customer feedback, XtreamForex appears to be a legitimate and reliable forex and CFD broker. They hold top-tier regulatory licenses, demonstrate transparency with client fund segregation, and offer trusted trading platforms including MetaTrader 4.

With competitive pricing, extensive educational resources, and multilingual customer support, XtreamForex checks the boxes for a recommended broker rather than showing any glaring red flags of a scam operation. While no brokerage is perfect, our analysis confirms that XtreamForex is a credible choice for accessing forex, indices, commodities, and other global markets that uphold industry best practices.

XtreamForex Trading Instruments

The broker offers access to over 500 trading instruments across several asset classes:

• 170+ Forex currency pairs – Major, minor, and exotic pairs.
• 15+ Indices – Including S&P 500, FTSE 100, Nikkei 225, and more.
• Hundreds of individual stocks – Across major global exchanges like NYSE and NASDAQ.
• Major cryptocurrencies – Such as Bitcoin, Ethereum, Litecoin, and Ripple.
• 50+ Energies – Crude oil, natural gas, heating oil, gasoline, and more.
• 50+ Metals – Gold, silver, platinum, palladium, copper

XtreamForex Account Types

One of XtreamForex’s strengths is its varied account offerings that cater to all capital levels:

Type	Spreads	Min. Deposit	Max. Leverage	Commission
Micro	From 1.2 pips	$5	1:1000	$0
Standard	From 1 pip	$250	1:500	$0
ECN	Raw Spread	$250	1:400	$7 per lot
ECN Pro	Raw Spread	$5000	1:200	$5 per lot
VIP	Raw Spread	$20,000	1:200	$1 per lot

Micro: This basic account has a minimum deposit of just $5, commission-free trading, and spreads from 1 pip. It’s ideal for new traders starting.

Standard: With a minimum deposit of $250, this account also provides commission-free trading and tight spreads from 1 pip. Great everyday account.

ECN: For traders with more capital, this account offers raw spreads from 0 pips and a low $7 commission per lot. Designed for high-volume trading.

ECN Pro: For large traders depositing over $5,000. Features ultra-low $5 commission per lot and true institutional spreads from 0 pips.

VIP: The premier account for the biggest traders depositing over $20,000. Commission of just $1 per lot paired with 0 pip spreads provides ideal conditions.

XtreamForex also permits scalping, hedging, and EAs on all accounts. This flexibility suits most trading strategies.

XtreamForex Deposits and Withdrawals

Convenient payment options for Nigerian clients include:

• Debit/credit cards – Visa, Mastercard
• Bank wire transfers – Local and international
• E-Wallets – Skrill, Neteller, Online Naira, WebMoney, Fasapay

The low $5 minimum deposit makes it easy to open an XtreamForex account. Clients can quickly deposit and withdraw using their preferred payment methods.

XtreamForex Bonuses and Promotions

In addition to strong base conditions, XtreamForex runs frequent bonuses and promotions to boost trader profits:

• 100% Credit Bonus: Deposit to get an equal matching bonus of up to $5,000. This extra capital can magnify returns.
• VPS Hosting: Free virtual private server to ensure seamless connectivity for expert advisor trading.
• Everyday Payout: Earn commissions as an Introducing Broker for referring new clients. Up to $25 per traded lot.
• Trade and Win: Monthly raffles provide chances to win gadgets and prizes for active traders.

Trading Tools

XtreamForex provides traders with a robust toolkit for executing strategies:

• AutoChartist – Scans markets for technical patterns and trading signals.
• Trading Central – Daily forecasts, education, and trade ideas from experts.
• Economic Calendar – Key scheduled events that impact asset prices.
• 100+ Technical Indicators – For visualizing trends and momentum.
• VPS Hosting – Optional virtual private server for continuous trading access.

XtreamForex Spreads, Leverage, and Commissions

For trading effectively, XtreamForex provides these features:

• Leverage up to 1:1000 – Take on larger positions with less margin. But use leverage judiciously.
• Spreads from 0 pips – Tight spreads on ECN accounts allow profitable scalping.
• Low commissions- Low transparent commissions, starting from $1 per lot
• Minimum deposit $5 – Start trading with any amount. More capital is recommended.
• Fast withdrawals – Receive funds within hours via e-wallets like Neteller. Bank transfers within 5 days.

XtreamForex Trading Platforms

XtreamForex grants access to MetaTrader 4 and MetaTrader 5, the industry’s leading trading platforms:

• MetaTrader 4: The preferred retail platform worldwide. MT4 provides advanced charting, expert advisors, backtesting, and more. Easily run EAs or trade manually.
• MetaTrader 5: Designed for multi-asset trading of equities, futures, and forex. Enhanced functionality including more indicators and order types.
• WebTrader: For convenience, XtreamForex offers browser-based WebTrader. Check prices, place trades, and manage positions directly online.

Customer Support

XtreamForex client services can be reached 24/7 via:

• Email: Support is available in English, Chinese, Spanish, Hindi, and more. 
• Phone: +357 96 750500 – Speak to knowledgeable representatives for immediate assistance.
• Live Chat: Message support directly through the website.
• WhatsApp: Fast answers via WhatsApp messaging.

Our Verdict

In summary, our assessment found XtreamForex to be a well-rounded broker suitable for African forex and CFD traders. Their trading conditions, account options, platforms, and bonuses provide a competitive offering.

Specifically, we like that XtreamForex offers tight spreads starting from 0 pips, provides industry-leading 1:1000 leverage, and runs frequent promotional bonuses. Their multiple account tiers cater to traders of all capital levels.

For African traders seeking a reputable and regulated broker with great fees, diverse products, and robust trading platforms, XtreamForex is an excellent option worth considering. Open an account to experience their professional service.

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