Xtrade Review
Broker: Xtrade
Leverage: 1:30
Regulation: CySEC, FSC, ASIC, FSCA
Min. Deposit: 250 US$
HQ: Cyprus
Platforms: MT4, XTrade WebTrader
Found In: 2003
Website: xtrade.com
XTrade Licences
Xtrade Europe Ltd - Authorized by CySEC, (Cyprus).registration number. 108/10
Xtrade International Limited (ex. Financial Arena Ltd - Authorized by FSC, Belize.registration number. FSC/60/383/TS/18
Xtrade Pty AU - Authorized by ASIC (AU), registration number. 343628
Peak Wealth PTY Ltd - Authorized by FSCA (SA), registration number. 2013/007163/07
What is XTrade exactly?
XTrade, formerly XFR Financial Ltd, was founded in 2003. It is headquartered in Cyprus, and offers traditional trading via CFDs on shares and commodities.
The company continuously expands their ranges and gives instant access to the most popular cryptocurrencies that are available 24/7 through the trading platform: Bitcoin Cash, Litecoin Cash, Dash Ethereum, Ripple, Ripple, and other digital currencies.
International proposals are made through a Belize-based stablished entity that allows international traders to open accounts and get high leverage, or other conditions. However, it is important to be aware of the differences in regulations and conditions.
Overview
XTrade is a CySEC-regulated broker. XTrade offers excellent trading technology, platform selection and spreads that are on an average-low basis. Account opening is quick and you can choose from a variety of Forex and CFD instruments.
There are limitations to product offerings, support is not available 24/7 and international proposals must be made via Belize entity.
Pros
Well-regulated
Commission-free trading
High leverage levels offered
Bonuses available
Useful training package for CFD trading
Multiple payment methods supported
Cons
No choice of trading platforms & account types
MT4 not available
Only fixed spreads offered
Market Maker model
Rating of the company overall
Reliability ⭐⭐⭐
Platform ⭐⭐⭐⭐
Commissions ⭐⭐⭐
Support ⭐⭐⭐
Financial instruments ⭐⭐⭐
RATING: 3.1
Awards
XTrade has been a long-running online trading company that is located all over the world and serves clients from many countries. The firm is a well-respected company in online trading, with years of industry experience and a global presence. This has been confirmed by numerous industry awards and achievements.
Xtrade & Cristiano Ronaldo – The broker supports social activities that increase their visibility in the world picture. Xtrade's official ambassador for 2016-2017 was Cristiano Ronaldo. This gives the opportunity to support the greatest footballer in the world while promoting CFD trading products that are market-leading.
Is XTrade a safe and legitimate business?
CySEC has approved XTrade to offer lower risk Forex trading and CFD trading.
Is XTrade legit?
The XTrade Group and company comply fully with the CySEC regulation. They have their headquarters in Cyprus, and obtained a license. There are also numerous registrations and authorizations across the EEA area. The international brand that serves worldwide clients XTrade Internationaloperates in various jurisdictions through its license obtained by the Financial Service Commission in Belize(IFSC).
Even though the license is an offshore one, it is not considered safe enough by itself. However, the European entities have added regulation that confirms that the broker complies with all international protection measures.
What can you do to be protected?
As we can see from our XTrade Review the client's funds are always separated. This means that an account in which the broker's assets are kept is separate from the broker's assets. This allows for money protection and security. Every client account is also opened under the investor compensation fund.
Xtrade also monitors its operations in accordance with regulatory requirements and provides comprehensive security for any online transaction or manipulations.
Additionally, the regulations stipulate that a trader can not lose more than the initial deposit. The broker also applied negative balance protection. This makes XTrade a safe Forex broker.
Leverage
The unique tool of leverage is an excellent way to increase your trading potential. Every trader must remember that leverage can work for or against them. Learn more about how to use it smartly.
XTrade leverage offer: There are two major regulatory obligations that clients from different jurisdictions must comply with.
CySEC clients and traders in Europe are permitted to leverage 1:30.
International clients who use XTrade International could be eligible for leverage up to 1400.
Types of accounts
One Xtrade single account allows you to trade on multiple devices, with no restrictions between traders. The Demo-accountopening allows traders to test the environment risk-free at the beginning.
Either you can grow your account or it will become Premium with 1,000$ balance, Gold with 5,000$, and VIP25,000$ respectively. Trading conditions will not change and feature the same support , education and news. There are also many signals . However, Platinum and VIP account holders have access to a spread reduction as well as additional educational videos.
Trade Instruments
The XTrade trading tools or products are offered via a popular CFDs model or Contract for Difference model. This allows for huge flexibility in price speculation and no ownership of assets.
Xtrade Equity CFDsallow trading worldwide CFDs on the most traded shares- Apple (Google), Nike, JP Morgan, IBM, and others. With a 5% initial margin.
Forex Trading includes most popular international currency pairs, such as EUR/USD, USD/JPY etc., as well the highly sought-after Cryptocurrencies. Xtrade offers over 50 Forex pairs that can be leveraged up to 1:1400.
Index CFDs - S&P 500 and Dow Jones, respectively. One Index CFD's contract value equals one Index CFD's price in the Index currency. Brokers offer market spreads that are fixed between buy and sell prices, and they do not charge commissions.
CFDs - Gold, Silver and Oil. One Commodity CFD's contract value equals the commodity's price in the currency it is quoted in. If Gold CFDs trade at $1,200.50 then one ounce of Gold CFD would be worth $1,200.50.
Fees
The XTrade platform offers technical solutions and tools to improve trading conditions. It also has reduced costs thanks to no-commissionpolicy, but only fixed spreads (e.g. Spreads between buy and sell prices in EUR/USD are 2-5 pips Below are listed additional costs such as funding fees, non-trading fees and inactivity fees.
Spreads
XTrade trading fees can be based on a XTrade spreads only strategy. This means that traders' costs will be included in a spread. A spread is the difference between the ask and bid price for a financial instrument. The table below shows the Spread value of each product. However, you can find the most current data on the official Xtrade platform or website.
The XTrade broker will offer a better price to trader if the account type or size increases. The spread for the EUR/USD common pair is 5 pip in Standard Account, 3 pip in Premium and Platinum, and 2 pip in VIP Account.
Overall, XTrade spreads are considered to be a low spread offering in the market. For instance, compare Xtrade to FP Markets fees.
Swap fee
A trader may be subject to an Xtrade funding fee or overnight charge if he/she keeps a position open beyond a certain hour (approximately 22:00 GMT). This fee is deducted from the trading account. The premium covers funding costs and can vary from one asset to another. Eur/Usd fees for buy or sell are approximately 1.8.
Deposits and withdrawals
There are many ways for clients to withdraw or deposit funds. However, clients need to verify that the option they want is available in their area. You can do it on the official XTrade site.
Options for deposit
You have the option of choosing from the following options.
Credit/debit cards,
Bank transfers
American Express
PayPal,
Skrill, and many other options.
The company does not charge any withdrawal or deposit fees to clients.
XTrade minimum deposit
The minimum deposit for XTrade is $250.But you need to calculate and pay the necessary expenses, as different trading instruments offer different spreads and margins. E.g. To open a new equity position, your account must meet the initial margin requirement. Occasionally, Xtrade offers promotions with lower minimum deposit requirements.
XTrade minimum deposits vs. other brokers
Withdrawal
XTrade Fee or deposit fee is a brokerage charge that covers transaction costs, unless your bank or payment method charges you for wire transfers. Any withdrawals made by credit card will be returned to the credit card from which you have made the deposit. The same applies to bank transfers. Withdrawals will be credited back to your bank account.
Trade Platforms
The Xtrader platform offers mainly an online-based proprietary program, but also the ability to trade with an industry leader HTMLTrader4. The platform has received numerous rewards from both traders and industry professionals. You can try it and then you will never leave XTrade.
Web Platform
The platform is easy to install and provides a wide range of trading tools for optimal trading.
Mobile trading
Xtrade has created a powerful mobile platform that is accessible on iOS, Android and Windows. The mobile platform is user-friendly and comes with professional charting tools and alerts.
Desktop platform
You will have access to real-time charts and nearly all manipulations within the web platform and its applications. This is intuitive and simple to use even for newbies. Professionals will not be able to access the full potential of the powerful features.
Support for Customers
XTrade also offers multiple support that enhances the trading experience and makes it a seamless process. Contact the customer support team via live chat, email, or phone. There is also multilingual support available and centers that are open 24/5.
Education
With professional trading tools and educational resources, you can develop trading skills, strategies, and market analysis . This makes it easy for beginners to join.
The platform also includes an economic calendar, analysis tools, and News feed. Daily analysis video is available and other educational support is essential for daily trading.
Conclusion
XTrade reviews conclude that the broker offers stable and reliable trading conditions. The broker's main offering focuses on a fixed spread with no hidden fees, a powerful online platform and a wide range of trading instruments. The company is a licensed broker and follows strict guidelines to protect clients, as well as the funds' security. It is also pleasing that XTrade supports its traders through various means. This includes excellent support and 0$ fees for money transactions as well as widespread support methods.