X Open Hub Review |
|
| 📅 Year founded |
2012 |
| 📈 Multiple top-tier regulation |
Yes |
| 📍 Headquarters |
London, United Kingdom |
| 🌍 Country of regulation |
United Kingdom / Poland / Cyprus / United Arab Emirates / South Africa |
| ✅ Regulators |
FCA / KNF / CySec / DFSA / IFSC / FSCA |
| 📈 Execution Type |
Market Execution |
| 💰 Minimum Deposit |
None |
| 🛡️ Negative Balance Protection |
Yes |
| 📉 Trading Platforms |
XOH Trading Platform / XOH Mobile / MetaTrader4 |
| ☪ Islamic account |
No |
| 📉 Trading Instruments |
Forex / Cryptocurrencies / Indices / Commodities / Shares / Bonds / ETFs |
| 📱 Mobile trading |
iOS / Android / Windows |
| 💳 Payment Types Accepted |
Bank Wire Transfer |
| 🎮 Demo Account |
Yes |
| ⓒ Copy Trading |
Yes |
| 🎁 Bonus Offer |
No |
| 💰 Account Currencies |
USD / EUR / GBP |
| 📈 Minimum Trade |
0.01 Lots |
| 📈 Account Types |
STP / ECN |
| 📈 Margin Trading |
Yes |
| 📈 Trading fees |
Low |
| 📈 Inactivity fee |
After 12 consecutive months of inactivity |
| 💰 Withdrawal fee |
On withdrawals under $50 USD |
| ☎ Customer Support |
24/5 |
| 💰 Max. Leverage |
30:1 |
| ✔️ Hedging Allowed |
Yes |
| ✔️ Scalping Allowed |
Yes |
| 💰 Commission |
Zero |
| 💰 Spreads |
From 0.0 pips |
| 💰 Leverage |
Flexible |
| 💰 Currency Pairs (Total Forex pairs) |
60 + |
| 🔢 Number of clients |
Unknown |
| 🥇 Instruments Offered |
5 000 + |
| 📙 Education |
Webinars / Traders Talk |
WHAT IS X OPEN HUB?
Found in 2012, X Open Hub is a respectable forex and CFD brokerage firm with its headquarters located in London, United Kingdom. This online broker is regulated by the FCA, KNF, CySec, DFSA, IFCS and the FSCA.
At X Open Hub, clients can trade a range of trading instruments such as forex, cryptocurrencies, indices, commodities, shares, bonds and ETFs.
The broker also offers a variety of trading platforms to its traders including the MT4 and XOH Trading Platform, which are both available on mobile too.
INTRODUCTION
With the growth of the forex industry, more brokerage companies have been established with each brokerage coming up with new ways to attract traders.
X Open Hub is one of the notable brokerages as well as bring a fin-tech company that seeks to offer multi-asset liquidity as well as online trading solutions to the global market.
While X Open Hub is the trademark of XTM Limited, the fin-tech solutions provider is also part of the One Capital Group.
The fin-tech solution company has its head office situated in London, UK, with its tech and operational centres based in Poland’s capital, Warsaw.
Driven by its mission to offer both liquidity and trading technology to retail firms as well as financial institutions, X Open Hub has emerged to be an award-winning, high-end trading solutions provider.
The success of this broker is a result of the fin-tech solutions provider’s investment in high-end technology which has aided in the delivery of low-latency execution and better pricing as well as tight spreads.
Hence, X Open Hub remains a reliable fin-tech solutions provider for access to the world’s largest brokerage houses and banks.
The fin-tech solutions provider also gives access to tons of STP providers, ECN banking systems, as well as stock exchanges.
PROS & CONS
PROS
- The broker offers more than 5 000 trading instruments including forex, cryptocurrencies, indices, commodities, shares, bonds and ETFs.
- X Open Hub is highly regulated and authorised by multiple authorities including the FCA in the UK.
- Offers services to newbies and skilled traders.
- X Open Hub has negative balance protection.
- Customers’ funds are segregated from the broker’s.
- Offers MAM accounts.
- Offers over 50 preinstalled technical indicators on its proprietary trading platform.
- Offers tight spreads starting from 0.0 pips (with no requotes).
CONS
- There is only one method for depositing funds, namely bank wire transfers.
- There is a lack of educational material available for new traders.
TRADING INSTRUMENTS
X Open Hub offers its customers access to over 5 000 global trading instruments. According to experts, a more diverse trader’s portfolio yields lower risks hence better chances for profitable trading.
X Open Hub understands this better than anyone, hence providing its customers with a wide selection of trading instruments including:
Forex
X Open Hub offers the foreign exchange market to its customers with forex trading accounting for the largest involvement in fin-tech activities by customers.
Thanks to its high liquidity where over $6 trillion USD in currencies are traded daily, making it the largest market by volume. With this broker, traders can buy and sell whatever currencies available with the fin-tech solutions provider at determined or current prices.
Forex trading is impactful since it determines the exchange rates for all foreign currencies. At X Open Hub, traders can trade more than 60 currencies in the forex market.
Cryptocurrencies
X Open Hub also offers traders a chance to trade on cryptocurrencies. The market involves the exchange of digital token coins such as Bitcoin, Ethereum, Ripple, Dashcoin and Litecoin, all available at X Open Hub, among multiple others. There are over 50 cryptocurrencies available at this broker.
Indices
At X Open Hub, traders can venture into index trading which involves several global stocks including (but not limited to) UK 100, DE 30, AEX, FTSE and NASDAQ.
Notably, indices are quantified by the value of certain sections of the stock market.
Commodities
Yet another market provided by X Open Hub is commodities, which consist of economic sector metals (gold for example), agricultural products, oil and gas.
At this broker, some of the commodities on offer include gold, silver, aluminium and copper as precious metals, while soft commodities include corn, coffee and soybeans amongst others. Energies are also available in the form of oil, natural gas and even gasoline.
This variety in their commodities offering is amongst the best in the industry with over 18 commodities available.
Shares
This broker provides over 2 000 shares across various markets around the world. Some of these include shares in companies such as Adidas, Amazon and Alibaba amongst others.
ETFs
Like most of the top fin-tech solutions providers, X Open Hub offers traders a chance to invest in exchange-traded funds.
Notably, ETFs are investment funds traded on stock markets having them hold assets like bonds, stocks and commodities.
TRADING PLATFORMS
Brokerage fin-tech solution providers will in most cases rely on trading platforms for the facilitation of live access to multiple trading markets.
Notably, most of the trading platforms offer more than just trading capabilities. The best trading platform will therefore offer customers historical data, trends and forecasts for informed trading decisions while protecting every customer’s funds.
X Open Hub supports two of the most reputable trading platforms, thanks to their advanced technology, ultra-fast execution of orders and with a long list of advantages to their names. These platforms include MetaTrader4 and the XOH Trading Platform.
MetaTrader4 White Label
MetaTrader4 (MT4) is probably the biggest name in the fin-tech trading solutions space, with the platform being the most used by the trading community.
Notably, the MT4 platform works optimally with X Open Hub, thanks to X Open Hub’s investment in top technology such as Smart Executors.
There are multiple features that have made the MT4 trading platform outshine most in the trading arena.
Topping the list is its more than 50 pre-installed technical indicators, that make trading quite seamless for both beginners and experienced traders.
The platform also banks on user-friendliness and customisability making it a great option for many brokers like X Open Hub. With tons of traders using various devices, MT4 ensured its compatibility on Android, iOS and desktop.
Other notable features from the MT4 trading platform include:
- Historical timeframe data.
- Pending, stop orders and trailing stops.
- Ability to identify trends.
- Strategy tester and price alerts.
- Trading on a single click.
XOH Trading Platform
X Open Hub supports yet another major trading platform, their own proprietary platform, the XOH Trading Platform (XOH), an all-inclusive multi-asset trading platform.
Thanks to its wide variety of tools and features that XOH offers, it is clearly a great choice to partner this platform with the solutions provided by X Open Hub.
From collaboration with multi-asset liquidity to possession of a comprehensive risk management system, XOH is seen to be one of the most reputable platforms in the trading arena.
Notably, traders can create fully functional applications with XOH, thanks to X Open Hub’s API tool. XOH is also known for its real-time market news and advanced charting which offers exclusive features such as price correlation.
Complete trade management and the economic calendar are also some of the notable features of the platform.
Other features by XOH include:
- Reputable execution quality.
- Diverse technical indicators.
- Charting package with drawing tools such as Fibonacci, Andrew’s Pitchfork and Elliot Waves amongst a variety of others.
ACCOUNT TYPES
X Open Hub has established itself as a leading supplier of trading solutions to institutions and corporations.
Following this, X Open Hub differentiates its services to solutions for startups, banks and other brokers.
X Open Hub provides its services to a variety of clients and thus they have services that are customisable and can be fully integrated into whatever solution you require.
Thanks to their understanding of what brokers require, X Open Hub allows for third-party companies to build new trading systems based on their APIs.
Notably, X Open Hub offers flexibility unmatched by many fin-tech trading solutions providers, thanks to its fully customisable settings on influence charts and markup.
Here, traders can enjoy zero security group limitations, integrated and reporting tools. Traders can take advantage of IB and MAM accounts, multi-assets, as well flexible netting and gross management for a diverse front-end offer.
HOW TO OPEN AN ACCOUNT
As this broker provides fully customisable features and integration depending on the needs of their clients, the process and requirements for setting up an account with this broker are not available on their website and will, of course, be different from those procedures usually followed by other brokers.
On their website, X Open Hub provides an information feature where you can request a representative to contact you. Presumably, there would be a meeting where you will inform the broker of your requirements and expectations so that they can customise a fully integrated solution specifically for you.
DEMO ACCOUNT
The broker does provide access to a demo account for potential clients, once you have provided them with your email address. As you can expect a fully customisable solution from the broker, it is difficult to say exactly what the demo account would be like to trade on and if that would be similar to the solution you decide on.
The broker does however state that they simulate real market conditions on your demo account.
SOCIAL TRADING AND COPY TRADING
Although there is no specific solution provided by the broker for copy trading, features such as EAs are accessible on MT4 so it is likely that traders are able to copy trade.
COMMISSIONS AND FEES
To make some profit and optimally offer brokerage services, forex brokers including X Open Hub charge traders commissions on trades. Oftentimes, these commissions are built into the spreads.
Commissions can vary, depending on the trading instruments selected as well as the market conditions.
X Open Hub does not charge commission on OTC (Over the Counter) instruments while they offer superb spreads as well, starting from 0.0 pips on currency pairs like EUR / USD. They further offer competitive pricing on overnight fees and institutional swap fees.
There are no fees on deposits and they only charge withdrawal fees on withdrawals under $50 USD.
There may also be an inactivity fee applicable if trading accounts are inactive for 12 consecutive months.
LEVERAGE
X Open Hub offers its customers a leverage tool that helps increase your potential returns thanks to its possibility to multiply traders’ initial account balances.
However, leverage levels may vary depending on a trader’s proficiency level in trading, instruments used and regulatory restrictions.
With X Open Hub being a UK and FCA authorised fin-tech solution provider, its maximum leverage levels for retail traders are 10:1 for commodities, 20:1 for minor currencies and 30:1 for major currencies.
WITHDRAWALS AND DEPOSITS
When it comes to deposits and withdrawals, X Open Hub unfortunately only has one method for the transfer of your funds, via bank wire transfers.
The broker does not charge fees on deposits or withdrawals, in most cases. However, withdrawals under $50 USD may attract a withdrawal fee.
CUSTOMER SERVICE
X Open Hub offers its traders 24/5 customer support to its customers. Thanks to its team of professionals, traders can receive timely and accurate feedback on whatever query they may have.
Responses are offered through email, telephone, online request forms and social media.
The customer support team at X Open Hub is known to be responsive and highly skilled at providing fast and efficient solutions to their clients.
SAFETY AND SECURITY
Traders are concerned with the security a brokerage firm offers to ensure the safety of their investments, as they should be.
Rest assured, safety and security at X Open Hub are of paramount importance, as is indicated by the strict levels of compliance which they adhere to.
X Open Hub is regulated by the FCA in the UK, Poland’s KNF, CySEC in Cyprus, DFSA in the United Arab Emirates, IFSC in Belize and the FSCA in South Africa. Notably, these bodies ensure X Open Hub’s safe trading conditions including best trading practices and the guarantee of segregated customer funds.
Being regulated by the FCA, the broker is also required to comply with the Financial Services Compensation Scheme (FSCS) which ensures that customers’ funds are protected up to a value of GBP 85 000.
PROMOTIONS
Currently, X Open Hub does not offer any bonuses or promotions on their website. However, these offer are always subject to change and interested clients should check back often on the broker’s website to see what promotions may be offered there in the future.
RESEARCH
There is not a great amount of research tools made available by the broker on their website, however this is not the case in their trading platform.
On XOH, there is an option to integrate various research tools onto your trading platform, meaning they are easily accessible while you trade. This includes features such as news updates, an economic calendar and the variety of technical analysis tools on offer.
Of course on MT4, there are also a variety of trading and research tools available that can be accessed on the platform by traders.
EDUCATION
Considered probably one of the most optimal initiatives by fin-tech service providers is educating their customers on how to navigate through trading by acquiring better skills.
X Open Hub offers education for both beginners and advanced investors through webinars and other sources designed for educational needs. There is also a “Knowledge Base” tab where traders can access a variety of information.
GLOBAL AWARDS
X Open Hub is an award-winning brokerage firm having won international awards in recent years. The broker doesn’t post their awards on their website, however we were able to find some awards the broker has won:
- Most Diversified Liquidity Provider (2023) – Ultimate Fintech Awards APAC.
- Best Quality Reporting (2017) – KDPW.
These awards celebrate the firm’s consistent regulations at the European level, safe trading practice, as well as great customer interaction.
SAFE OR SCAM?
X Open Hub has been in the trading space for over a decade, since 2012, and in that time, has gained a reputation for being a superb and trustworthy broker.
The broker is regulated across various jurisdictions by multiple entities, which is always a good sign when it comes to the safety of the broker.
The addition of segregated client funds and their adherence to the FSCS are further bonuses when it comes to the safety of this broker.
Another great sign is the award they won in 2017 from the KDPW for Best Quality Reporting, indicating their attention to detail when it comes to the governance of the brokerage.
CONCLUSION
From the above review on X Open Hub, it is evident that the firm is a highly reputable fin-tech service provider.
Notably, the company offers high-end tech solutions with access to deep liquidity on multiple assets across various markets around the world.
Start-ups, brokers and institutional clients would love X Open Hub’s service, especially the attention to detail and the customisability of their software.
Although it is unclear whether this broker offers their services to individual clients, they do offer services to start ups, meaning it is a possibility for traders to set up trading accounts in company names, should that be your preference. For other brokers and institutions, X Open Hub is certainly a fantastic option for fin-tech solutions.
According to the team at Brokersuggest.com, X Open Hub is one of the best offerings in the industry today and if there is an opportunity for you to set up an account with them, you will not regret it.
