Xlence

Answer: Your question is right on the spot! They have four different account types and all of them are different both the minimum deposit criteria and the trading conditions provided. Oh and by the way, usually only spreads are variable for the accounts when it comes to trading conditions, so i will tell you the average spread for each account for you to understand. Let’s start with the xlence essential account, which is completely free to start trading with. And because it’s free, the trading conditions are not the best you can get. The average spread for eur/usd pairs is somewhere around 1.1-1.4 pips, which is not bad, but could be better. The next account is xlence prime. The minimum deposit criteria here is only two thousand dollars. For the amount you are getting a noticeably lower spreads that range between 0.9 and 1.2 pips for eur/usd. Third account on the list - xlence deluxe. Sounds luxurious, and it actually is. To get this account you have to deposit 10K dollars, which is quite a penny for a large number of people. And of course the spreads are cut even lower. Starts as low as 0.6 pips and go up to 0.9 pips. Last account is xlence ultimate. I don’t know a single person who uses this account, because the minimum deposit you have to make in order to get this account is $25000 dollars. But yeah, because you spend such a large amount of money on deposit, you get the best trading conditions (from 0.4 pips to 0.7 pips) Honestly, for the amount of money, they could make the spreads fixed at zero… All in all, the xlence prime account is the best for the value imho.

Answer: The accounts here are a bit different from what we are used to seeing with other brokers. It’s closer to a loyalty program, although it’s not a loyalty program concept, but the more you trade and the larger your account size is, you can upgrade your account and get improved trading conditions. One big difference between the accounts is the spread - the more advanced your account is, the better the spreads are. For scalping, you need as tight spreads as possible. So, tend to upgrade your account to a more advanced one, but even the Prime account should work fine for scalping and other trading strategies.

Answer: Xlence takes a slightly different approach to account types. Unlike other brokers, where you choose your account type at the beginning, you start with the Xlence Essential account. Later, if you wish, you can apply for an upgrade to Prime, Deluxe or Ultimate accounts. It mainly depends on your level of experience and your account size. Your application will be reviewed by the broker, as far as I understand the process, I don’t take this as 100% true. You can double-check it with their support. Anyway, the Essential account is pretty good in terms of spreads, execution speed, leverage of up to 1000x… in other words, you have everything you need to trade efficiently and just focus on your trading, rather than thinking that with a more advanced account, your trading will significantly improve… it won’t ;)