XGLOBAL Markets Review – Comparing The Reputation Of The Broker With Respect To The Leaders
Several leading Forex brokers in the market enjoy a significant amount of market share in the retail Forex trading industry due to their reach and market presence. However, several new Forex brokers are cropping up in different jurisdictions around the world that are slowly gaining ground over these established FX companies with their innovative products and services. Cyprus seems to be one of the most popular Forex broker destinations in the entire world that have the largest registrations of Forex brokers and allied businesses. XGLOBAL Markets is also a Forex broker that is domiciled in Cyprus, which is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) under the Markets in Financial Instruments Derivatives (MiFID) framework. XGLOBAL Markets uses its extensive European market presence and the CySEC license to take advantage of the European Economic Area (EEA) passport for advertising its products and services throughout the EU. Therefore, the broker’s claim of being registered with other EU regulators such as the BaFin (Germany) and the FCA (UK) are not entirely unfounded. In fact, under the EEA agreement and the MiFID derivatives, XGLOBAL Markets may be subject to legal ramifications from any member of the EU for any alleged instance of non-compliance.