Account approval time depends on how quickly the required documents are submitted and the compliance team can process. If all required documentation is submitted along with your application, then your account could be approved in one business day or less.
The smallest trade size is 0.01 lot (or $1,000).
Currently, Xenia offers 100:1 leverage. Xenia reserves the right to make adjustments to the leverage at any time.
The best way to assess Xenia spreads is to register for a Demo Account and try them – demo accounts use exactly the same price feeds and exactly the same spreads as Xenia live accounts. The average EURUSD spread is just 1.2 pips (varying nominally and normally between 0.8 and 2.2, depending on time of day and market conditions). During moments of major market moving news announcements or other market driven conditions, the market can drive significant bid – ask spreads that are not caused by Xenia.
Deposits can be made by credit card and wire transfers.
Withdrawals are done by wire transfers.
You can have any number of additional accounts without needing to submit another application. Simply submit a general request via e-mail at email@example.com with your cTrader ID and request a new additional account.
No. Xenia can only accept (or send) money transfers from (to) Xenia trading account holders, and only between accounts held in the same name.
You can transfer funds between your own Xenia accounts at any time – there are no costs involved to do this.
No. Xenia is not a market maker – all trades are Straight Through Processing (STP) and placed into the market. This means that all Xenia clients are A-book clients, not B-book where the broker trades against their own clients.
Yes. Xenia offers industry-leading speed of execution, which provides fast execution and an optimal environment for scalpers.
Yes. Demo accounts are active for 30 days.
Xenia offers cTrader and cMirror, which combined allows for clients to mirror another Trader’s trading strategy, and that Trader is called a Strategy Provider. The Strategy Provider can charge transaction fees. Clients using cMirror can select from a global list of Strategy Providers, viewing their strategy profile with track record. Clients and Strategy Providers can be with different cTrader brokers. Spotware manages the system and the exchange of fees to brokers, which are passed directly to the Strategy Providers.
For more information on cMirror view this video…
Yes. Xenia Demo accounts behave exactly like Live accounts as they share the same specifications and price feeds.
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, 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.
Xenia, being in compliance with FATCA, 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.