Xenia Information and Policies

Why Xenia?

Xenia is a licensed offshore Forex Brokerage that is focused on providing serious Forex Traders worldwide with the world class cTrader trading platform and access to professional Forex trading Strategy Providers with cMirror.

Xenia was incorporated in July 2009 and is located in the jurisdiction of the Cayman Islands. Xenia has a Trade and Business License (Lic #200278) authorizing Xenia to conduct the business of Forex Trading and a Forex Brokerage.  Xenia follows strict business practices and is AML / KYC compliant, FATCA / CRS compliant, and  is committed to conducting business and operations in accordance with high ethical standards, transparency and in full conformity with all domestic laws and regulations.

Xenia utilizes regulated liquidity providers and regulated banks.

By offering Straight Through Processing (STP) execution using the Spotware cTrader platform, Xenia provides a trading environment designed for the trader which ensures there is no dealer desk intervention. Xenia chose Spotware as they share the same common goals of secure fast execution and transparency.

Cayman Islands is recognized as a major international financial centre with leadership in a number of areas. As the top international banking centre, the world’s leading domicile for offshore hedge funds, the second largest captive insurance centre, and a world leader in structured finance, the jurisdiction stands as the only offshore international financial centre to possess such breadth and depth in financial services. The banks and payment providers Xenia uses are regulated and located in Cayman Islands, Canada, USA. Hong Kong, and Europe.

Why the name Xenia?

The word, “Xenia”, has two primary meanings that apply to the mission and focus areas of the Xenia company. Xenia is the name of an interesting family of hardy pulsing coral which grows well in the midst of a strong laminar water flow, which has an affinity to how Forex trading has a pulsating flow movement.

“Xenia” is also the ancient Greek concept of hospitality, where the generosity and courtesy shown to those who are far from home. The Xenia team is very experienced at living, working, and investing offshore. For people looking to take advantage of the benefits of trading Forex in an offshore (far from home) brokerage, they will find Xenia has the generous support and understanding they need.


Xenia is well positioned with an experienced management team ready to lead Xenia.

Doug Blue Suit Red TieDouglas Spencer – Founder

In parallel to his 30 year IBM career that gave Doug a wide range and deep business experience with extensive global exposure, Doug has always had a focus on investing, trading, and the markets that began when he was a teenager.

Doug has been investing, managing portfolios and developing trading strategies for 30 years. He has traded Forex since 2009 and understands well the world of Forex Traders, clients investing in Forex and the Forex industry. He scored high on the NASAA Series 65 – Investment Adviser Law certification.

He was born and raised in Toronto, Canada. But, spent much of the last twenty years travelling and working globally, with significant time spent based in Singapore, Philippines, Malaysia, Dubai, the USA, and Cayman Islands.

Doug worked globally in a mix of technical and management roles for IBM. Doug began his professional career with IBM in the mid-80’s after graduating from Seneca College in Toronto, having studied computer programming, accounting and DP auditing. Over the past three decades working with IBM both as an employee and manager. Doug developed his IBM career as a Technical Marketing and Sales professional, holding a variety of leadership roles, such as World Wide Program Director of a Global Executive Briefing team, and most recently as the Country Manager of the IBM operations in Cayman Islands, via the IBM Cayman Agency, CDS Agencies Ltd..  Doug has also authored several published books on IBM software.

Separate from IBM, Doug has founded or co-founded other successful businesses such as Client Server Consulting International in Singapore, Software Services International, Bahamas, and Xenia (formerly Spencer Incorporated) in Cayman Islands.

Karen ObrienKaren O’Brien – AML/KYC/FATCA/CRS Compliance Officer and MLRO

Karen is a Certified Anti-Money Laundering specialist and currently Chair of the Caribbean Task Force for the Association of Certified Anti-Money Laundering Specialists and she is also a member of the International Association of Financial Crimes Investigators. She also an Executive Committee Member of the Cayman Islands Compliance Association and sits on the Policy sub-committee.

Karen O’Brien is an accomplished investigator with expertise in Fraud and Financial Crime. She was a police officer for sixteen years with the Toronto Police Service, spending five years in the Fraud and Forgery Squad. She investigated financial crimes in the Cayman Islands as a Detective with the Royal Cayman Islands Police before branching out to the private sector and specializing in compliance and Know Your Customer, assisting in investigations in the USA, Scotland, Isle of Man and the UK.

As a professional consultant, Karen has experience in the design and implementation of anti-money laundering (AML) policies and procedures, Know-Your Customer program reviews, risk analysis and risk management strategies, and AML training. Karen has created a designed Longbow Compliance Manager TM, a web-based training program and compliance tool that provides anti-money laundering training. Karen is also experienced in FATCA, CRS and related reporting compliance.

What is Forex Leverage?

The term Leveraged trading is one of the key advantages behind trading Forex. Leverage, also referred to as margin, allows you to gain a large exposure to the Forex markets for a relatively small initial deposit. This means that should the markets move in your favor, your net returns could be much greater than your initial outlay, which would not be the case were you to buy the currency physically. Leverage, however, is a double-edged sword, so whilst your net returns could be much greater than your initial deposit, so can your losses and here lies the main risk with leveraged trading.

How leverage works:

Leverage essentially means controlling a large exposure for a small deposit which you select, ranging from 0.25% to 5%, using our ‘Leverage to Suit’ model. Leverage is worked out as a ratio, for example 50:1 is a ratio equivalent to a margin of 2% (1/50 = 0.02 or 2%). In this example therefore, you would need to have at least 2% of the total exposure of your intended Forex position in your account in order to place the trade.

The margin required for a position is the amount of funds you must have in your account in order to open and maintain a Forex position. Each night you will pay a small financing charge on the exposure of the Forex trade including the amount that has been effectively borrowed in order to trade the full position. In this sense, leverage works in a very similar way to how one might buy a house on a mortgage.

Your Xenia Forex trading account automatically calculates margin in real-time, based on the prices of the currency pair you trade. This means that the margin amount required is affected by changes in the market price, allowing you to gain a greater management and awareness over your margin requirement during your trades. For currency pairs not of your base currency, the margin required will be converted back into your base currency at the prevailing market price for that pair.

Exceptions:  CHF 50:1, XAUUSD 50:1

Weekend Leverage Recommendation

During the weekends, when regular Forex markets are closed, there is a risk that Sunday night on market open any currency pair could open with a significant movement from where it closed on Friday. If an account is over leveraged, this weekend gap up or gap down could cause significant losses, possibly more than the account balance. Xenia recommends clients enter the weekend with a leverage of no more than 30:1 for the Major currency pairs and only 10:1 for the exotic currency pairs.

Disclaimer: Implementing the Xenia weekend leverage recommendation may NOT be enough to protect clients from weekend gap up or gap down currency movements causing losses.  Xenia assumes no responsibility for client trading decisions or use of leverage.

Xenia Group Support

With Xenia, Groups are well supported by enabling clients (members of a Group or club) to register with Xenia within a given Group.

As registered Xenia clients, when they login to the Xenia Client Portal, they will see the Strategies offered by the Group they are a member of.


Competitive Forex Spreads

 Xenia provides competitive spreads to help keep your trading costs low.


  • No minimum account balance or volume requirements
  • Low commissions and Low spreads, keeping trading costs low
  • Opportunity for price improvement on every trade

Spreads at execution of a trade are affected by a few factors, including the market volatility, liquidity provider uplifts, and broker uplifts. Market volatility can occur at any time and can sometimes cause significant differences in the bid / ask spread. Market volatility happens especially at times of major announcements, Sunday night market open, mid-week market open, and when trading volumes are generally low. Liquidity and Broker uplifts are applied accordingly with variations applied differently depending whether the currency pairs are high volume Majors, medium volume Minors, or low volume Exotics.

Spreads are definitely a factor in the cost of Forex trading, and traders need to consider and compare the true over time typical spreads various brokers provide. But, equally important, is the spread as applied to traded volumes. Spreads with many brokers will widen greatly as traded volume increases, due to lack of or shallow liquidity. Therefore, it’s important to consider how deep the liquidity is and it’s affect on spreads for a client’s applicable trading volume.

Our liquidity providers enable excellent pricing and relatively tight spreads, and most importantly, deep liquidity. This provides Xenia clients with better pricing and tighter spreads for all volume size orders.

Xenia aims to provide clients a professional level trading environment with a competitive trading cost model, which includes the combination of reasonably low commission, good spreads with deep liquidity, and over-night SWAP rates that are competitive and stay in tune with ever changing interest rates.

Xenia encourages new or potential clients to first open a Xenia Demo cTrader account  to experience the actual costs of trading with Xenia.  Xenia’s Demo cTrader system pricing for commissions, spreads, and SWAP rates are matching the Live environment.

SWAP Rates

What are swap rates?

Swap rates are the interest rate differentials embedded in currency trades.

To put it more simply, consider how a Forex trade works: you borrow one currency to buy another. For instance, if you are buying EUR/USD, you are borrowing US dollars and buying euros with the proceeds. In doing so, you are paying interest on the US dollars you borrow, but earning interest on the euros you bought.

Where can I find your swap rates?

Xenia swap rates are visible within the cTrader platform, and can be viewed by following these simple steps:

  1. Right-click on the currency pair you want to view in the Symbols window
  2. Select ‘Information’
  3. You can now see the long and short swap rates in the pop-up window

How do you calculate a swap rate?

Swap debits/credits are calculated as follows:

Current long/short rate * number of lots = swap debit/credit in second currency


Account currency is USD, you hold 2.5 lots short of EUR/GBP

-1.08 * 2.5 = -£2.70, converted to USD = -$4.13

When do are swap rates calculated?

Our swap rates are calculated each day at 4.59pm New York time/11.59pm GMT+2. Trades that have been opened before 4.59pm and held open past this time will be subject to swap rates. Swap rates are tripled on Wednesday at 4.59pm to account for weekends. Please note that this is the standard structure of swaps – however, on weeks where there are holidays, the swap rate structure may be modified to account for the holiday.


Depositing funds to your Xenia Forex Account can be done via Bank Wire, Credit Card,  i-Account or UPayCard

Please note that deposits can only be received from an account that has the same name as the name registered in the Xenia Forex  trading Account. Funds received from a third-party account will be immediately returned.

Funds will be made available to your Xenia Forex Account for trading as quickly as possible (usually 1-4 business days depending on the method of deposit and the value). 

Payment processor Fees will be applied.


Withdrawing funds from your Xenia Account can be done by via i-Account or UPayCard

Xenia can also send funds by Bank Wire Transfer, and can take between 1-5 business days to process..

To withdraw funds from your Xenia Forex account, enter the secure Xenia Client Portal Login,, select the Withdrawal option from the menu, where you will receive clear instructions about the necessary steps and details.

Clients can also be introduced to i-Account so they can apply for their own bank account with i-Account, and then apply for a i-Account Debit Card. This can make withdrawals from Xenia fast and low cost.

Please note that withdrawal payments can only be made to a bank account that has the same name as the name registered in the Xenia Forex Account.

Note:  Xenia works to provide secure, reliable, cost effective ways to process deposits.  Any fees associated with deposit transfer and payment methods are not covered by Xenia and will be deducted from the deposit or client Forex account at the time of the deposit

Terms and Conditions

Terms Of Use

This is a Customer Agreement (“Agreement”) between Xenia, a company incorporated in July 2009 and organized under the laws of the Cayman Islands under company registration number BC-228942, its successors and assigns, and the individual entity executing this Agreement (“Client”). By completing the on-line Open Live Account Application (“Application”) Client agrees that the terms set out in this Agreement (as amended by Xenia from time to time) govern the terms of all of Client’s dealings with Xenia and Xenia “Services”.

In consideration of Xenia agreeing to carry on one or more accounts of Client and providing services to Client in connection with the purchase and sale of currencies (collectively, “Forex”), Client agrees as follows:

1. Client warrants to Xenia that:  Client is of sound mind, legal age and legal competence; and no person other than Client has or will have an interest in Client’s account(s); and, Client hereby warrants that regardless of any subsequent determination to the contrary, Client is suitable to trade Forex and understands the risk inherent in such trading; and (if not a natural person) is duly organized and validly existing under the applicable laws of the jurisdiction of its organization. If the Client is a company, the person who has completed the Customer Account Application on the Client’s behalf is duly authorized to do so, and Client is not now an employee of any exchange, any corporation in which any exchange owns a majority of the capital stock, any member of any exchange and/or is registered on any exchange, or any bank, trust, or insurance company, and in the event that Client becomes so employed, Client will promptly notify Xenia in writing of such employment; and,  all funds deposited to Client’s account are the sole funds of Client and of no other person or entity; and, all the information provided in the Application is true, correct and complete as of the date hereof and Client will promptly notify Xenia of any changes in such information; and, all information provided by Client to Xenia subsequent to completing the Application form will when given be true, correct and complete as of the date it is given and Client will promptly notify Xenia of any changes in such information; and, the individual entity who completed the Application is authorized to so complete the Application on behalf the Client and is entitled to and does bind Client; and, Client has read and understood all of the terms set out in this Agreement and irrevocably agrees to be bound by them, and, Client represents and warrants that Client considers himself or herself to be a professional trader and it is in that capacity that Client enters into this Agreement. Client confirms that he/she has read and understood the existing Terms and Conditions (with Terms of Use), Privacy Policy and Risk Disclosure Statement. The Client is personally responsible to ensure that the agreement material is the latest updated.

Terms of Use, together with the full Customer Account Application, Risk Disclosure Statement, Privacy Policy and all applicable written Addenda thereto, embodies the entire agreement of the parties (“Operative Agreements”), superseding any and all prior written and oral agreements. By completing the on-line Open Live Account Application, registering as a client and using the Xenia Services, the user agrees to comply with the then valid Operative Agreements. Xenia may, from time to time, make changes to the Terms Of Use so the user should regularly acquaint themselves with these conditions. If you do not accept these terms, we encourage you not to use these Services.

If any term of the Operative Agreements (or any part of any term) shall be held by a court of competent jurisdiction to be unenforceable for any reason then such term shall, to that extent, be deemed severable, but the enforceability of the remainder of Operative Agreements shall not be affected.

2. Responsibility for the content of the Xenia Services

Xenia is responsible for the legality of the content and that it is provided in accordance with good practice, in addition to requirements related to copyrights and other intellectual property rights.

The general information, guidance or advice provided by the Xenia Services are not intended to be a legal, commercial, or similarly Xenia -binding source of information, guidance or advice, and should not be relied upon by the user. On this basis, demands cannot be presented to Xenia. Xenia accepts no responsibility for any damages caused to the user through the use of incorrect, incomplete or ambiguous data.

Xenia is responsible for the services and their accuracy, quality and the functioning of related data in accordance with the applied mandatory legislation.

3. Use of Website

Client acknowledges that whilst Xenia will use reasonable endeavors to ensure all information on its website is accurate, Xenia makes no warranties or representations that the website content is accurate or correct or up to date and any reliance on the information by Client is at Client’s own risk. Client acknowledges that Xenia recommends that Client obtains its own professional legal and financial representation. This website is operated by Xenia, 10 Market Street, #244, Camana Bay, Grand Cayman, KY1-9006, Cayman Islands.

4. Margin requirements

The Client shall provide and maintain the Margin in such limits as Xenia, at its sole discretion, may change and require from time to time. It is the Client’s responsibility to ensure that the Client understands how a margin is calculated. Client agrees to maintain sufficient margin in Client’s account without notice from Xenia. Xenia is entitled to close the Client’s Open Positions without the consent of the Client or any prior written notice if the Equity is less than Xenia’s valid margin requirements. Note that special weekend margin requirements may be applied by Xenia, at its sole discretion. Xenia is not responsible for any realized losses arising therefrom.

5. Email Marketing

Client consents to Xenia sending out emails with details of marketing material which Xenia believes may be of interest to Client. Client consents to receiving these emails. Client can unsubscribe from these emails at any time.

6. Clients who are introduced to Xenia by an Introducing Broker, Affiliate, or Third Party Advisor (or referred by a Friend).

If an Introducing Broker or Third Party Advisor or Friend introduces the Client to Xenia, the Client understands that Xenia may pay fees, commissions or other compensation to such person or entity for the introduction. Client acknowledges and agrees that as an Introducing Broker or Third Party Advisor to Xenia, the Introducing Broker or Third Party Advisor does not hold or collect any margined funds on behalf of Xenia or for the Client’s Account. Xenia does not control and cannot endorse or vouch for the accuracy of any information or advice Client may have or will receive from the Introducing Broker or Third Party Advisor and Client agrees that such Introducing Broker or Third Party Advisor does not in any form or manner represent or act for or on behalf of Xenia. The Introducing Broker or Third Party Advisor will not have trade authorization privileges unless granted in writing by the Client. The Client under all circumstances understands and agrees that the Introducing Broker and/or Third Party Advisor is the Client’s agent and not the agent of Xenia.

Xenia is a wholly separate and independent entity from any Introducing Broker or Affiliate with which it has a business relationship. The Introducing Broker Agreement between Xenia and Introducing Broker does not establish a joint venture or partnership and any such Introducing Broker is not an agent or employee of Xenia.

All rights of Xenia under these Terms of Use shall also be extended to any Introducing Broker or other person who refers or introduces Client to Xenia.

7. Joint accounts

Where the Application is for a joint account, whilst the account is owned jointly each Client severally has authority:  to trade Client’s account without restriction, to receive all correspondence and documents in respect to Client’s account, to receive or withdraw money from Client’s account, to execute agreements relating to Client’s account, and to deal with Xenia fully. Xenia has the authority to require joint action by the parties of the account in matters of the account if Xenia decides at its discretion this is necessary. Client acknowledges that on the death of one of the joint parties all funds and property in Client’s account shall be deemed to be owned solely by the surviving party. Xenia reserves the right in the event of the death of one of the joint parties to require a copy of the death certificate and is entitled to put a hold on the account until this has been provided.

8. Transfer of Customership

Client agrees that Xenia may transfer Customership to a third party at its sole discretion. Unless otherwise notified, following transfer, Client shall be a client of the third party with the same contractual conditions as Client had with Xenia.

9. Data security and Confidentiality

Client agrees and acknowledges that Client is the exclusive owner and solely responsible, joint and severally if applicable, for the confidentiality and protection of Client’s account number(s) and password(s) that allow Client to place on-line orders and access Xenia’s electronic trading systems. Client further agrees that Client will be fully responsible for all activities including brokerage transactions that arise from the use of Client’s account number(s) and password(s). Client agrees to indemnify and hold Xenia harmless from: if any other person utilizing Client’s confidential information provides instructions to Xenia that may be contrary to Client’s instructions. Client will immediately notify Xenia in writing or by e-mail of any loss, theft or unauthorized use of Client’s account number(s) and/or password(s). Client accepts that the data networks and the services which are provided through them are not completely safe, and that the user is responsible for the proper handling of the information and security of their own information systems. The user is also responsible for the equipment required to use the Services, the acquisition and operational condition of the links and software and to ensure that they do not cause damage or disruption to Xenia or a third party.

10. No Tax, Accounting, Legal Market Advice or Trading recommendations

Client acknowledges that Xenia does not provide any tax, accounting or legal advice of any kind to Client. Xenia does not give advice or offer any opinion with respect to the profitability, suitability or potential value of a particular transaction or investment strategy. Client further acknowledge that any recommendations, research, market letters or other information (collectively, “Market Information”) provided to Client by Xenia does not constitute an offer or solicitation to sell or to buy any Forex or other property. Client assumes the risk of relying on Market Information and hereby will indemnify and hold Xenia harmless from any and all claims, demands, losses, damages or expenses Xenia may incur as a result of Client’s use of Market Information. Client agrees that any investment decision and transaction Client makes will be based solely on Client’s own evaluation of Client’s financial circumstances and investment objectives and whether such decisions and transactions are suitable with respect to your investment and/or trading strategy. Xenia does not provide buying or selling recommendations and neither do the services provide general information or other such information intended to guide the investment process of the client so the client must form their own view of the market or use the investment advice of specialists, taking into account that investment operations always come with high risk such as the loss of all invested capital. Client acknowledges and agrees that any market recommendations and information communicated to Client by Xenia, its employees or any Third Party do not constitute an offer to sell or the solicitation of an offer to buy any Foreign Currency. Xenia makes no representation, warranty or guarantee as to, and shall not be responsible for, the accuracy or completeness of any information or trading recommendation furnished to Client.

11. Commissions and Fees   

Client understands and agrees that commissions and fees (as disclosed on Xenia’s website or in writing to Client) are charged to Client’s account on any and all transactions Client enters into. Xenia may share commissions, fees, rebates and, from time to time, profits with the introducing broker who introduced Client to Xenia. Client agrees to pay all such commissions and fees. If Client is on a commission free account, Client will be charged a spread between the bid price of the instrument and ask price of the instrument.

12. No guarantees

The Services of Xenia are provided “as is” and Xenia disclaims any express or implied guarantees. All utilization of the Services takes place at the sole risk of the user.

The user is solely responsible for damages arising from the information system or loss of data resulting from downloading the content (including viruses and malware) of the service. No advice or information, written or verbal, which the user may receive from Xenia or through the service shall create any legally binding counsel or guarantee unless otherwise expressly stated in these Terms of Use.

Xenia does not guarantee that:

  1. the Services or the material received through the Services corresponds to the user’s expectations,
  2. the Services are available uninterrupted or timely, reliably or flawlessly,
  3. prices reflected in the trading platform are correct until fully settled, or
  4. the accuracy and quality of the information which the user has received through the Services, is error-free, or otherwise meets the expectations of the user.
  5. In situations where upline technical failure results in incorrect fills, Xenia reserves the right to subsequently adjust and correct affected fill prices, whether to the benefit or detriment of the affected account.

13. Limitation of liability

Xenia (including its possible service providers) is not responsible for any incidental or consequential damages, including delays, damages caused by unused service possibilities, loss of income, goodwill, user rights, or data or other economic losses, resulting from: use of the services or because these could not be used, costs arising from acquiring a substitute service, data or information received through the services or a message which has been received through the services, unlawful data transmissions or unlawful alterations to these, or other conditions connected to the services. Further, Xenia will not be liable for any loss or expense incurred by the client in connection with, or directly or indirectly arising from any failure by the company to perform any of its obligations as a result of a cause beyond its control; or the acts, commissions or negligence of any third party.

14. Force majeure

A force majeure releases Xenia from any such obligations connected to its services, in so far as events prevent the functioning of its service or parts thereof or causes undue harm to it. Such events considered to be a force majeure are fires, earthquakes, floods, explosions, strikes and other cessations of work, the orders of officials, disturbances concerning the supply of energy, shortages of raw materials or equipment, war, civil unrest, externally caused by external sources resultant cable or data communication disturbances or other such reasons which were not previously known and for which prior preparation was not possible.

Xenia will inform users through written notification of the onset, estimated duration and cessation of the above-mentioned circumstances as soon as possible after the event has occurred, in so far as an announcement is possible. Written notification shall be understood as e-mail, mail or announcement on Xenia’s website.

15. Governing Law and Jurisdiction

This Agreement, the rights and obligations of the parties hereto, and any judicial or administrative action or proceeding arising directly or indirectly hereunder or in connection with the transactions contemplated hereby, whether brought by Client or Xenia, shall be governed by, construed and enforced in all respects by the laws of the Cayman Islands and the parties submit to the exclusive jurisdiction of the Cayman Islands courts.

16. Termination

The Client may terminate and close the Forex Account(s) with immediate effect by giving Written Notice to Xenia. Accordingly, Xenia may terminate and close the Forex Account(s) with immediate effect by giving Written Notice to the Client. Any such termination will not affect any obligation which has already been incurred by either the Client or Xenia in respect of any Open Position or any legal rights or obligations which may already have arisen under normal trading operations or any Transactions and deposit/withdrawal operations made thereunder. Upon termination Xenia will be entitled without prior notice to the Client to cease to grant the Client access to the Trading Platform. Further, all amounts payable by the Client to Xenia will become immediately due and payable including (but without limitation):

– all outstanding fees, charges and commissions;

– any dealing expenses incurred by terminating the Forex Account(s); and

– any losses and expenses realized in closing out any Transactions or settling or concluding outstanding obligations incurred by Xenia on the Client’s behalf.

17. The validity and changes to the Terms and Conditions and Terms of Use

Xenia may change these Terms of use at any time and without prior notice. Xenia will attempt to inform users of changes to these Terms Of Use in connection with the Services. Changes to the Terms Of Use will take effect at a time indicated by Xenia. By using the Services or by express recognition, the user accepts any and all changes as binding. If the user does not accept any change to the Terms Of Use then they must cease use of the Services immediately.

18. Entry/Exit for PAMM Strategies and Risk of Loss

Strategy PAMM Entry (Deposits) / Exit (Withdrawals) are usually processed on (or just after) the 28th of each month, and NOT immediately upon request of a transfer by a client. Participants may pre-request transfers in / out (Entry/Exit) of the Strategy ahead of the 28th for batch processing to be done at the to be determined Entry/Exit. It’s important to understand that risk of loss exists when participating in PAMM Strategies, and withdrawals are NOT processed until the Entry/Exit time for a given Strategy.  This is due to the fact that when the Entry/Exit of funds for any participant is processed, the ratio allocation for every participant changes, and must be calculated and properly reset. The transfer requests are collected and done as a batch set of transactions on the Entry/Exit date.

Entry/Exit processing MUST be co-ordinated with the Strategy Provider (traders) to determine the best time to process the batch of transfers and to ensure that adequate funding is available in Cash Equity for the processing of withdrawals.

19. Inactivity Account Fee ($5.00 USD per month) Due to the ongoing costs to Xenia of maintaining accounts with funds, such as annual FATCA/CRS reporting, client accounts that have a balance, but are without any trading can be a costly burden to Xenia. As such starting in 2019, clients with accounts that are inactive for more than 2 or more months in terms of trading or are not participating in Strategies will be charged a inactivity account fee of $5.00 per month until the balance is zero.  Please note, this also is better for clients with small balances, as it would mean that once your account balance is Zero and classified as a dormant account, it would not be reported in the annual FATCA/CRS reporting.

If you have any questions, feel free to contact us at info@xenia.ky

Xenia Privacy Policy

At Xenia, protecting the privacy and safeguarding the personal and financial information of our clients and website visitors is one of our highest priorities. The following statement explains how Xenia collects and protects your information.

Collected data information

The information Xenia collects directly from you is required to communicate with you, including your name, mailing address, telephone number, email address; and as required by law, valid credentials to verify your identity such as a passport, government issued ID, and address verification documents. Xenia also collects demographic information that our clients supply upon initiating a Xenia account including date of birth, trading experience, income, sources of income and occupation, amongst others.

The data is collected from Users during the registration process for Xenia. In addition, Xenia collects data related to the clients’ trading history.

Xenia may, by their own initiative, or at the request of the User, complete, correct or delete any incomplete, inaccurate or outdated personal data.

Disclosure of information

Data will not be disclosed for the purpose of direct advertising, distance selling or other direct marketing, market and public opinion research, or for personal matriculation. The personal data of an individual may be disclosed to a User’s superior, in accordance with their own organizational hierarchy. In exceptional circumstances, data may be legally disclosed to a third party upon a request by authorities, to enforce the then valid Operative Agreements and for the possible investigation of possible condition violations and to safeguard the security of Xenia .

Xenia may share Xenia usage information about our website visitors to reputable advertising companies to target our internet banner advertisements on Xenia.com. For this purpose, pixel tags (also called clear gifs or web beacons) may be used to note the pages you have visited, but the information collected by the advertising company through the use of these pixel tags is not personally identifiable.

Xenia is not responsible for the privacy policies or the content of sites that Xenia may link to, and therefore, have no control over the use or protection of information provided by you or collected by those sites. Whenever you elect to link to a co-branded or linked website, you may be asked to provide registration or other information. Please note that the information you are providing is going to a third party and you should familiarize yourself with the privacy policy provided by therein.

FATCA reporting

Xenia is obliged under the Tax information Authority Law, the Regulations, and Guidance Notes made pursuant to that Law, and treaties and intergovernmental agreements entered into by the Cayman Islands in relation to the automatic exchange of information for tax matters (collectively “AEOI”), to collect certain information about each account holder’s tax status. This is for FATCA compliance.


Changes may be made to the privacy policy description which is published on Xenia´s website. Xenia will inform those concerned of essential changes via e-mail, by fax, by post or by publishing the information on the Xenia website.

Users may contact Xenia any time for more information.

Email:     info@Xenia.ky

Website:  www.Xenia.ky

Foreign exchange trading involves substantial risk of financial loss, and is not suitable for all.

Xenia Risk Disclosure

Risk Disclosure

High Risk Investment

Xenia warns that trading foreign exchange and futures on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you, as well as to your advantage. Before deciding to invest in foreign exchange or futures, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and consult with an independent financial advisor if you have any doubts.

Xenia shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information provided. Any opinions, news, research, analyses, prices, or other information contained on the Xenia websites and trading platforms are provided as general market commentary, and do not constitute investment advice. Xenia will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Each buy or sell decision by Client is an independent decision by Client. Xenia is not acting as an advisor or serving as a fiduciary to Client. Client agrees to indemnify and hold Xenia harmless from and against any and all liabilities, losses, damages, costs and expenses, arising therefrom. Xenia will not in any way be liable or responsible for any buy or sell trading actions done by the Client or for any losses arising therefrom.

One Click Trading and Immediate Execution

Xenia´s automated order entry system provides immediate transmission of Client’s order once Client enters the notional amount and clicks “Buy/Sell”. There is no “second look” before transmission, and Market Orders cannot be cancelled. This feature may be different from other trading systems. Client should utilize the Demo Trading System to become familiar with the process before trading online. In case the Client has not received the result of the execution of the previously sent Instruction but decides to repeat the Instruction, the Client shall accept the risk of making two Transactions instead of one.

Third Party Agents

In the event that Client grants trading authority or control over Client’s Account to a third party (the “Trading Agent” or “Introducing Broker” or “Strategy Provider”), Xenia shall in no way be responsible for reviewing Client’s choice of such third party or for making any recommendations with respect thereto. Xenia makes no representations or warranties concerning any Trading Agent or 3rd party; Xenia shall not be responsible for any loss to Client occasioned by the actions of the Trading Agent or third party; and Xenia does not, by implication or otherwise, endorse or approve of the operating methods of the Trading Agent or third party. If the Client gives the Trading Agent or a third party authority to exercise any of its rights over its Account, Client does so at Client’s risk. Even though the undersigned grants authority to Trading Agent, Client should be diligent and closely scrutinize all account activity.

Commission and other charges

Before the Client begins to trade, he/she should obtain a clear explanation of all commission, fees, markups, markdowns and other charges for which he/she will be responsible. These charges will affect Client’s net profit (if any) or increase Client’s loss.

No Guarantees of Profit

There are no guarantees of profit or freedom from loss in Foreign Exchange Trading. Client has received no such guarantees from Xenia or from any of its representatives. Client is aware of the risks inherent in Foreign Exchange Trading and is financially able to bear such risks and withstand any losses incurred. Furthermore, client accepts sole responsibility for any actual losses which result from Foreign Exchange trading activities client chooses to engage in through Xenia and, in the case of currency account deposits made via debit/credit card, specifically agrees not to subsequently dispute such deposits.

Prices, Margin and Valuations are set by Xenia and may be different from prices reported elsewhere

Xenia will provide prices to be used in trading, valuation of Client positions and determination of Margin requirements. Prices from Xenia are independent of prices of other institutions and businesses. Although Xenia expects that these prices will be reasonably related to prices available in the interbank market, prices reported by Xenia may vary from prices available to banks and other participants in what is known as the interbank market.

Internet Trading

Xenia shall not be liable for any claims, losses, damages, costs or expenses, including attorneys’ fees, caused, directly or indirectly, by any breakdown or failure of any transmission or communication system or computer facility or trading software, whether belonging to Xenia , Client, any market, or any settlement or clearing system when Client trades online (via Internet).

Unauthorised access of the Third Party

The Client is wholly responsible for the privacy of the information received from Xenia and accepts the risk of any financial losses caused by the unauthorized access of the third party to the Client’s Trading Account.

Force Majeure Event

In case of a Force Majeure Event the Client shall accept the risk of financial losses.



Anti-Money Laundering Policy

Xenia collects and verifies the personal identification data of our account holders, while logging and tracking itemized statements of all the transactions that are carried out by our clients. Prior to opening an account with Xenia a valid form of government-issued identification (Driver’s License, State ID, or Passport), a proof of residence, and bank account information is required, along with the client’s completed account application. Additionally, Xenia tracks all suspicious transactions of our clients, and transactions executed under non-standard trading conditions.

  • All Xenia client funds are held in separate, segregated accounts that are designated only for client deposits and withdrawals.
  • Xenia monitors funding from various bank accounts outside of the account holder’s home country.
  • Xenia performs its actions on the basis of the anti-money best practices.
  • Xenia neither accepts cash deposits nor disburses cash under any circumstances.
  • Xenia does not accept third-party deposits of any kind.
  • Xenia matches each deposit to the account name on file for that customer.
  • Xenia reserves the right to refuse processing a transaction at any stage where it believes the transaction to be connected in any way to money laundering or criminal activity. In accordance with international law, Xenia is not obligated to inform the client if suspicious activity is reported to any corresponding regulatory or legal bodies.

Account Opening Procedures – Know Your Customer Policy (KYC)

Prior to opening an account, Xenia shall document the identity, nature of business, income, source of assets, and investment objectives of each prospective customer.

Xenia welcomes clients from all over the globe. But, there are some exceptions, governmental restrictions along with our company policies prohibit Xenia from opening accounts with funding originated from restricted and/or sanctioned countries.

Account Opening Requirements and Framework:

Photo ID – The following are acceptable forms of photo identification:

  • A valid passport
  • A valid government ID, such as a Driver’s License or State ID
  • A valid National Identity Card

*Please note that photo IDs are verified through third-party compliance software and/or ID verification compliance service providers.

Proof of Residence – The following are acceptable forms of proof of residence:

  • A utility or phone bill, or a bank statement
  • All proof of residences must be current and not outdated by more than 90 days
  • Changes to residency of the account holder must be communicated to Xenia to ensure the client profile is current.


Funds Withdrawal Procedures

The withdrawal process at Xenia detailed below, is structured around strict guidelines to make sure that funds are securely sent back to their originating source.

  • Xenia customers must complete a signed paper or digital withdrawal request containing their correct account information.
  • The withdrawal form is submitted to the Xenia Accounting department for processing. The Accounting department confirms the account balance, verifies that there are no holds or withdrawal restrictions on the account, and then approves the withdrawal request.
  • The Xenia team reviews all withdrawal requests, verifying the original funds are withdrawn via the account holder on file. The Xenia accounts team also examines the withdrawal request against the customer’s deposit history to make sure there is no suspicious activity, and verifies the bank account on file.
  • Email confirmation (and in some cases telephone confirmation) will be sent to the client for each withdrawal.
  • Once all processes are completed and the withdrawal request is confirmed valid, the funds are released to the client.
  • In the event that a withdrawal is flagged for suspicious activity, the withdrawal is placed on hold, pending further investigation by Xenia management staff.
  • Xenia follows AML processes and works with relevant regulatory bodies, if need to be contacted.

Compliance Summary

The compliance procedures listed above are only brief synopsis of the high level guidelines observed by the Xenia. For additional questions concerning Xenia policies, please feel free to contact our Compliance department. No substitutions or modifications will be accepted to the above requirements, Xenia Compliance department reserves the final determination regarding the validity of the documents.


The Foreign Account Tax Compliance Act (FATCA) is a United States federal law whose intent is to enforce the requirement for United States persons (including those living outside the USA) to file yearly reports on their non-USA financial accounts. The law requires all non-USA (foreign) financial institutions (FFI’s) to search their records for indicia indicating USA person-status and to report the assets and identities of such persons to the USA Department of the Treasury.

The FATCA is a USA revenue-raising portion of the 2010 domestic jobs stimulus bill and the Hiring Incentives to Restore Employment (HIRE) Act.

U.S. individual taxpayers must report information about certain foreign financial accounts and offshore assets on Form 8938, attaching it to their annual income tax return, if the total foreign asset value exceeds the appropriate reporting threshold.

For Foreign Financial Institutions (FFIs) to avoid being withheld upon, a foreign financial institution may register with the IRS, obtain a Global Intermediary Identification Number (GIIN) and report certain information on USA person accounts to the IRS. If a jurisdiction, such as Cayman Islands, enters into an Intergovernmental Agreement (IGA) to implement FATCA, the reporting and other compliance burdens on the financial institutions in the jurisdiction are simplified. The reporting of client assets are also only done if asset values exceed the appropriate reporting threshold.

The Common Reporting Standard (CRS) is an information standard for the Automatic Exchange Of Information (AEOI) regarding bank accounts on a global level, between tax authorities, which the Organisation for Economic Co-operation and Development (OECD) developed in 2014.

Its purpose is to combat tax evasion. The idea was based on the US Foreign Account Tax Compliance Act (FATCA) implementation agreements and its legal basis is the Convention on Mutual Administrative Assistance in Tax Matters. 97 countries had signed an agreement to implement it, with more countries intending to sign later. First reporting occurred in 2017, with many of the rest starting in 2018.

Xenia, being in compliance with FATCA and CRS, is obliged under the Tax information Authority Law, the Regulations, and Guidance Notes made pursuant to that Law, and treaties and intergovernmental agreements entered into by the Cayman Islands in relation to the automatic exchange of information for tax matters (collectively “AEOI”), to collect certain information about each account holder’s tax status.

Xenia Margin Call Policy

Trading accounts with Xenia will automatically experience a margin call if the criteria below are met. It is important to note that proper risk management and placing of stop losses reduces the need for a margin call on a traders account. We advise all clients and traders to strictly adhere to margin requirements when trading.

  • Minimum Margin Requirements on Open Positions must be maintained by the customer at all times.
  • All open positions are subject to liquidation by Xenia should the Minimum Margin Requirement fail to be maintained.
  • Margin requirements may change at any time. Xenia will do its best to inform the customer about any projected changes by email and via the trading platform’s message system at least a week before changes go into effect.
  • Xenia will liquidate all Open Positions in a customer’s account if the total equity, at any time, equals or falls below 99% of the Used Margin. Positions will be closed based on the best execution prices available at the time to Xenia.
  • The placing of Stop Loss Orders, used to minimize losses, is the clients responsibility.

Dispute Handling

Xenia aims to provide superior customer service, in the event you are dissatisfied with any aspect of our service; please give us the opportunity to investigate and answer your questions.

If you wish to lodge a complaint:

  1. Document anything that relates to your complaint and any questions that you wish to have answered.
  2. Inform Xenia support with details of your complaint. You can email Xenia at support@xenia.ky  Xenia will review the situation and will resolve it at this initial level if we can.
  3. If the matter is still not resolved to your satisfaction, please ask a staff member to escalate your complaint to upper management of Xenia. The staff member will consequentially provide you with the specific upper management direct contact details.



10 Market Street, #244 Camana Bay, Grand Cayman, KY1-9006, Cayman Islands


support@xenia.ky (Please mark your email Attn.: Complaints Officer)

Xenia will aim to resolve your complaint within a period of 28 days.

If the complaint is more complex and takes longer than 28 days Xenia will communicate the results as soon as possible.