Elxi Markets Review
Based in the UK, Elxi was started in 2015 and offers its clients forex trading services. On top of that, they also offer partnerships as well and are regulated by the FCA. But our review will focus on their primary services along with the overall user experience.
If you are interested in registering with Elxi Markets, take your time to read our review before making your final choice.
Elxi Markets Trading Platform
Elxi Markets opinion seems to be that a custom platform is not necessary. While we understand the popularity and undeniable power of the MT4 platform, we would definitely like to see a broker with an impressive custom platform. Sadly Elxi Markets is not that broker.
They offer their clients access to the MT4 Platform which over 90% of other brokers do as well. They also offer access to a mobile platform for clients on the go, again, nothing original. But, from out experience using their demo account, the platform works which is a plus but it did not offer as smooth an experience as we have had with the MT4 platform from other brokers.
The MT4 platform is easily customized so we hope in the future Elxi Markets takes the chance to use this feature and offer their clients more than the bare bones version that they are giving them now.
Elxi Markets Account Types
The Elxi Markets broker offers four different account types:
- Standard Account ($/£/€ 100 Minimum Deposit)
- Silver Account ($/£/€ 5000)
- Gold Account ($/£/€ 10000)
- Platinum Account ($/£/€ 25000)
Each account type uses the same base currency which is either: US dollars, Euros or the British Pound. While the minimum deposit for each account is vastly different, the features do not differ that much.
For example, all four account options have a leverage up to 1:200. The spreads, however, do differ because the Standard Account has spreads from 0.8, the Silver Account has spreads .1 less starting from 0.7. The Gold Account, on the other hand, has spreads from 0.6 and the Platinum account has spreads starting from zero. The only account which has a commission is the Platinum Account. However, it is not the only account with a “dedicated” account executive because the Gold Account also has one. But, the Silver and Standard Accounts do not have any.
These account options are simple; we admit that but quite frankly they are lacking. There are numerous other brokers on the market that are offering much more at a higher quality than what the Elxi Markets forex broker is offering. We recommend you check those brokers out and get more value for your deposit.
They also offer Sharia Accounts which allow Swap-Free trading for those of the Islamic faith. It is in compliance with Sharia law. There are interest-free swaps available on GBP, CAD, CHF, EUR, JPY, XAG and XAU against the dollar and each other. However, as mentioned before there better brokers with Islamic accounts as well, so we encourage you to consider those. We are sure you will receive a higher value from those brokers than you would from Elxi markets.
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Elxi Markets Review of the Support
There aren’t many Elxi Markets reviews online that give you a look at how they treat their clients. No matter the industry, customer service sis paramount for a business’ success which is why we were shocked when we treated poorly by the customer service agents on Elxi Markets.
You see, Elxi Markets offers numerous ways for you to contact them.
- Request a callback
- Live Chat
On top of that, you can also connect with them on several social media platforms:
- Google +
With these many ways of contacting Elxi Markets, you’d believe they’d have competent staff available for around the clock support but unfortunately that was not the case.
In regards to their call back service and support line, it seems to phones are not being manned. You are greeted by a machine then you are left waiting well over 15 minutes before anyone actually picks up the phone or the call disconnects.
While there is no actual response on their cell phone, their live chat service has agents available however, they seem ignorant of company policy and services which leave you right where you were before you contacted them.
All in all, Elxi Markets customer support is a major disappointment especially from a company with such a seemingly high standing.
Elxi Markets Review Conclusion
We admit, the Elxi Markets scam is not real which is quite a relief because there are far too many scams out there, however, the poor customer service, lack of diversity in account features and bare bones platform leaves quite a bit to be desired. We urge you to find a broker that will give you more value and an overall better trading experience. Thanks for reading our review. Share your thoughts and experiences with Elxi Markets below.