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Instead of the typical deposit bonus, Xtrade offers cash prizes during registration and verification. You don't have to deposit any money or open any trade to enjoy it.
It is undeniable that each year, the competition among brokers is getting tighter with the emergence of new players in the market. In order to stand out, brokers must offer something special to their clients. Welcome bonus programs are quite popular these days as they are often considered to be a great way to attract more traders and build a good relationship with them based on mutual rewards.
Different bonus programs, however, are built on different structures and follow different terms and conditions depending on the broker. Their value and way to obtain can also vary significantly. Some brokers may offer dozens of periodical bonus campaigns each month, while others only grant special rewards every once in a while. This is why if you want to get a good bonus, you should make an effort to study each bonus program along with its terms and conditions.
In this article, we'll take a look at the welcome bonus package offered by Xtrade. Compared to other brokers, this bonus package is quite unique and suitable for any type of trader. Let's find out everything you should know about it.
Contents
Get to Know Xtrade
Xtrade is a well-known online broker that is regulated by IFSC (No. 000281/194). It offers trading services for various instruments, including CFDs on shares, commodities, forex, and indices. For more than 10 years, the company has helped clients to make informed trading decisions, access liquidity, and manage risks according to their capabilities through a sophisticated trading platform available on the web and mobile. Today, the company operates in 25 countries worldwide and offers around-the-clock customer support.
Throughout its journey, Xtrade has won various awards that further prove their good reputation and reliability. Their mission is to facilitate the trading needs of their clients, hence the abundance of innovations that the company has offered in the past few years. To further support their clients, Xtrade offers a number of attractive bonus programs as explained below.
Operating as an online CFDs broker since 2010, XTrade Europe Ltd. is a part of XTrade Group and provides trading in FX and CFDs as offersfx.eu. Previously known as xtrade.eu, this broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 108/10.
Therefore, it is subject to the regulatory requirements of the Markets in Financial Instruments Directive (MiFID II). For non-European traders opening an account in XTrade, they will be managed by Xtrade International Ltd., a Belize-based entity that is licensed by the International Financial Services Commission in Belize.
As OffersFX, XTrade Europe Ltd. accentuates its rich options of trading assets for clients. From Forex to cryptocurrencies, OffersFX manages to offer them all. The broker also presents interesting alternatives like Shares, ETFs, and Bonds. This alone has opened opportunities to traders and investors from various markets.
Several attributes claimed as their distinctive advantages including strong financial resources, quick and efficient withdrawal process, cutting-edge platform technology, and worldwide customer support.
Following XTrade International's offering, XTrade Europe does not provide trading with the highly popular MetaTrader platform. This broker has its proprietary platform that enables traders to access the market via Web-Trader with a rich set of features and trading tools to ensure an optimized trading experience. Said platform is not only available on the desktop, but also in mobile app and tablets.
Trading conditions are not explained thoroughly, as the broker does not offer selectable account types. Forex trading in XTrade is presented with Fixed Spread from 2-5 pips with no commission.
There are no clear details of information on the maximum leverage and minimum deposit. However, XTrade Europe Ltd. mentions explicitly that there are premium charges for overnight trading positions.
There are no fees charged for deposit and withdrawal, and traders can choose between bank transfer, credit card, PayPal, Skrill, and Neteller as the payment method.
However, it is important to acknowledge that there is an inactivity fee of up to $50 per month if a trader somehow neglects their trading account in OffersFX for 3 months. Also, there is a dormant maintenance fee up to $100 per month for accounts that have been inactive for one year or more.
For all of the assets provided to traders, OffersFX does not exactly equip them with profound education materials. There are explanations dedicated to each trading instrument, but the broker has no further contents to educate traders about online trading in various markets.
To sum up, XTrade Europe Ltd. is a CySEC-regulated broker with many trading instruments to offer. It is a distinctive company in the way it offers Fixed Spread as the sole trading commissions to traders and does not comply with mass preference in the MetaTrader platform.
Unfortunately, XTrade Europe Ltd. is not too great on transparency and information sharing, as well as charges a quite big amount of fees for inactive accounts. Well, at least the broker states that it does not require deposit and withdrawal commissions.
First Deposit Bonus
Xtrade's First deposit bonus is given to new accounts registered in Xtrade. As the name suggests, this bonus will be allocated to the eligible account after clients make their first deposit. The bonus amount depends on the number of the first deposit. So, the higher the deposit, the more credits you can get. The rules are as follows:
- Deposit $100-$249 to get a 10% bonus of up to $25
- Deposit $250-$499 to get a 25% bonus of up to $125
- Deposit $500 and more to get a 50% bonus of up to $5000
This bonus is of credit type, which means that it will be credited to the account and kept as a credit sum. In order to redeem the bonus, clients must reach a certain release volume of Xpoints accumulation within 30 days starting from the date that the first deposit bonus becomes an active bonus. In this case, the Xpoints release volume is the bonus amount multiplied by 10. If the target is reached within the 30-day time frame, the bonus will be credited to the account equity immediately. Otherwise, the bonus as well as the accumulated Xpoints will be expired.
The bonus is only available once for each account and will be given after the completion of the first deposit. It's also worth mentioning that one household or IP address can only get one first deposit bonus.
How to Get
- Log in to your Xtrade trading platform's cashier using your account credentials.
- Select "First Deposit Bonus" and click "Deposit".
- The bonus will be allocated immediately according to the deposit volume.
Phone Verification Bonus
This bonus is available for clients who verify their phone numbers by entering a code received via SMS. So, all you need to do is create a new account and register your phone number. You'll get a $25 bonus, which will be credited automatically once the process is successfully completed. Keep in mind that it might take up to 10 minutes for the credit to be reflected in your account.
This bonus is of cash type, so the sum can be used immediately for trading. To redeem the bonus, you are required to reach 300 Xpoints within the duration time frame. If you wish to withdraw the bonus, you'll need to reach the specified Xpoints to release the sum for withdrawal. The bonus is only available once per account/phone number.
How to Get
- Log in to your trading account.
- Chose "Account Options" and click "Phone Verification".
- Enter a valid phone number and enter the code received by SMS.
First Trade with Xtrade
Xtrade rewards traders for making their first trade. Simply open a live trading account and start trading with your deposited money. If you make a profit, you can keep all of it. But if you lose, the broker will refund the loss amount of up to $500 cash bonus. This bonus is a very convenient way to make up for your loss, especially if you're a newbie and just started your trading journey.
Account Verification Bonus
To protect your account from hacking and other malicious activities, it's highly recommended to verify your account by submitting the required documents to the broker. As a reward, you will get a 20% bonus of up to $1000 after you completed the verification process and made your first deposit. The bonus is available for all deposits made 48 hours after the first deposit and the offer is limited to 14 days after the first deposit.
The account verification bonus is of credit type. In order to redeem the bonus, you are required to reach a release volume of Xpoints. The bonus is only available once per account and after the completion of your first deposit. It's worth noting that the crediting of the bonus might take up to 2 business days upon the approval of the submitted documents.
How to Get
- Log in to your trading account.
- Make your first deposit.
- To submit the documents, follow the upload link available on the web or mobile trading platform.
- On the web platform, open the Main Menu, then click "Account" and "Account Verification".
- On the mobile platform, open the Main Menu and choose "Account Verification".
- Complete the registration form and submit the required documents.
How to Collect Xpoints
Xpoints are obtained through trading and calculated based on the trading volume and asset types. Xpoints will be granted for each instrument by trading at least $1000. For example, if you open a position on EUR/USD worth $100,000, you will get 100 Xpoints after closing the trade, since every $1000 trading amount is worth 1 Xpoint.
Every asset type contributes differently toward Xpoints accumulation, so you may get different Xpoints for trading different instruments.
Moreover, Xpoints are used to release active bonuses within a specific period of time. If the release time frame has expired or the bonus was removed or voided, the accumulated Xpoints against that bonus are also reset back to zero.
Where to Find the Information on the Official Broker Site?
- This information is reported per Apr 20 2024.
- We can not ensure if this offering is still available or remain the same in future.
- The broker announcement page may or may not exist anymore, You may explore Xtrade homepage and try to find "Promotion" section on the menu, footer, etc, to ensure the availability and validity of this promotion.
Xtrade is is a brokerage company that connects counterparties with market-leading traditional trading of CFDs on shares, commodities, forex, and indices. They offer around-the-clock support and deliver world-class solutions to their clients in more than 25 countries.
16 Comments
Hocky
Feb 18 2023
Thanks for the article, I was looking for a suitable broker for me. Luckily, if they have a welcome bonus, I can have extra money to make trades without depositing any more money and it sound perfect for beginner who have little money in the pocket.
I have some question that I want to ask:
thank you very much!
Neesa
Feb 18 2023
Hocky: Dude, I will answer about all the questions that you ask :
>>> Xtrade only offer one account which is standard account. For me, it is really good since the standard account can really flexible for all traders either beginner or pro trader
>>> The trading condition that offered by Xtrade : Minimum deposit $100; leverage 1:400; Minimum trading lot is 0.01 lot. But the Xtrade didn't allow scalping and using EA
>>> Trading condition is very good for beginner, but this is my opinion. Because the leverage 1:400 which are very average high leverage. And the spread is fixed, so you can trade without need to fear about the floating spread that will affect your trading cost
Hope my explanation can be useful to you! Thank you!
Liam
Feb 18 2023
If you win, you can have it all. However, if you lose, the broker will refund your loss up to $500 cash bonus. That is very interesting, since we as beginner trader will not have a risk to loss the money meanwhile, we can experience to trade live. It is very good offer from Xtrade!
What are the trading terms offered by Xtrade? I am interested in trading here on Xpoints offered by Xtrade. What is the purpose of the points? Also, since the article used $1000 per point, could you please explain how to get X points easily? You can trade up to $1,000. thank you!
Farida
Feb 18 2023
Liam: Hey, about trading terms. You can read broker reviews here:
Xtrade Review
It can be redeemed for some rewards via Xpoint itself. So try to collect enough points. Also, I used $1000 per point for this article. This means that you should trade at least 0.01 lots. With a standard account, you can trade 1 lot = 100,000 units. 0.1 lot = 10,000 units, 0.01 = 1,000 units. This means that you can earn 1 point for every 0.01 lot traded, and to earn 10 points you can trade 10 times as many as 0.01 lots. This is a very good offer and a very simple point of comparison with other brokers.
Jorgun
Feb 18 2023
From this article, we can conclude that broker XTrade actually offers many bonuses for trading cash bonuses, deposit bonuses and point rewards. All these bonuses require a lot of money and XTrade seems to want to attract more traders to trade with them, which is actually a good offer from XTrade.
By the way, forget the cost. The broker seems to have great promotions with bonuses and this is a pretty good deal for us.But before using Xtrade you should check if it is safe to trade with Xtrade. About an IFSC regulated broker, where does it come from and how safe is it?
Terry
Feb 18 2023
Jorgun: Firstly, due to the trading conditions offered, the broker does not allow scalping trading styles and fixed spread. This means that the broker is a market maker type.But Xtrade itself is regulated by his ASIC, CySEC, Belize IFSC and NAFD Russian so it is very safe.
One of the strictest regulations is ASIC. The concept of having an office in Australia and being regulated is very difficult to achieve, but Xtrade is regulated from there. A caveat to be aware of is that the trading terms are from the IFSC and Asutralia Trader uses ASIC trading terms.
Unfortunately, the IFSC is a weak regulator and not very secure. However, Xtrade has he ASIC regulation, so it is considered a safe broker.
mega999
Mar 7 2023
Terry: No, Belize actually is not weak at all. IFSC is a regulatory body based in Belize that oversees financial services providers, including brokers. They've been around since 1999 and their aim is to make sure that the financial services industry in Belize is safe and legit.
But, as with any regulatory body, the effectiveness of IFSC really depends on how well they can enforce their rules. That being said, they do have some measures in place to protect traders, like requiring brokers to have a certain amount of money in reserve and keeping client funds separate from company funds.
Now, Belize is a small country, so some traders might prefer to work with brokers regulated by bigger and more established regulatory bodies, like the FCA in the UK or the SEC in the US. At the end of the day, it's important to do your own research and pick a broker that's reputable and trustworthy. Hope that helps!
Thomas
Mar 7 2023
Hello there, in regards to XTrade, I noticed that they only offer a standard account which may not be suitable for my trading needs. I also read some reviews in the broker review section which indicated that XTrade does not allow scalping. This is particularly concerning for me as I am a scalper and this restriction could be a significant disadvantage for my trading strategy. Furthermore, since many traders prefer scalping, this could also impact their ability to trade successfully on the platform.
Moreover, I am also curious about the reason why XTrade disallows EA trading. I am interested in learning more about the conditions and restrictions in place on the platform, particularly since these restrictions could limit my ability to execute my trading strategies. It would be helpful if you could provide more information about the rationale behind these limitations.
Rendo
Mar 7 2023
Thomas: Hey, if you're wondering why XTrade doesn't allow EA trading and scalping, I'd suggest reaching out to their customer support directly. I couldn't find any information or sources that explain why they have these restrictions, but based on my own experience, there are a couple of possible reasons.
Firstly, it could be because their server isn't advanced enough to handle a large volume of orders, which can increase the risk of requote and slippage.
Alternatively, XTrade could be a market maker broker. Market makers have their own market and limited liquidity, which can make scalping difficult to offer. I've read that market maker brokers often have restrictions on scalping, EA trading, and don't offer variable spreads.
However, these are just my own speculations, so contacting XTrade's customer support team would be the best way to get accurate information on their trading policies.
Brandy
Mar 7 2023
Rendo: Man, is it actually safe to trade at here. I mean I have heard many bad things about the Market Maker. Although there is no proof that XTrade is market maker, I dont think 100% so sure that XTrade is not Market Maker since the review information also limited in there.
By the way, what the characteristic of market maker and is it true that we can safely to trade at XTrade?? Thank you
Rendo
Mar 7 2023
Brandy: when you trade with a market maker broker, they basically act as the other side of your trade. If you buy a certain asset, they'll sell it to you, and if you sell, they'll buy it from you. They make money from the difference between the buying and selling price, which is called the spread.
However, some market maker brokers might have some rules and restrictions around trading. For example, they might not allow scalping, certain trading strategies, or automated trading systems. Those are the characteristic of Market Maker. For more information about the Market Maker Broker, you can read at here : Broker Fact Check: Are Market Makers Always Bad?
As for XTrade, it's regulated by IFSC in Belize, which is a good sign because it means they have to follow certain rules to keep your money safe. They're also regulated by ASIC, which is another top regulator.
XTrade has been around since 2010 and has a good reputation for being a reliable broker. They offer lots of trading tools and resources to help you make informed trading decisions.
Overall, market maker brokers can be a good option for trading, but it's important to read the rules and regulations carefully before signing up. With XTrade, you can feel confident that they're regulated and have been around for a while, which are both positive signs.
Josh
Apr 2 2023
What kind of risks and vulnerabilities could someone potentially face if they don't verify their trading account and provide the necessary documents to the broker? I'm curious to know how hackers might exploit unverified accounts or take advantage of the lack of account verification. How does the process of verifying your account actually help protect against hacking and other malicious activities? And when it comes to submitting personal documents for verification, are there any specific precautions or security measures individuals should be mindful of? By the way, is there a deadline for completing the verification process in order to qualify for the 20% bonus? Lastly, do you have any additional tips or recommendations to help ensure the security of one's trading account and prevent potential hacking attempts?
Bille
Jun 7 2023
When considering the statement that if you make a profit, you can keep all of it, but if you lose, the broker will refund the loss amount of up to $500 cash bonus, it raises an interesting question about the dynamics between forex brokers and traders. It seems like the forex broker doesn't actually lose their own money in this scenario. I'd love to dive deeper into understanding how this mechanism works and explore the reasons behind the broker's offering of such a refund bonus.
Firstly, could you elaborate on how this refund bonus operates? Is it a form of insurance or a promotional incentive provided by the broker? I'm curious to know the specific conditions and requirements that traders must meet to be eligible for the refund. Additionally, is there a time frame within which the refund must be claimed?
George
Jun 9 2023
@Bille: In my opinion, the refund bonus is actually a promotional thingy. Brokers use it to attract new traders and give 'em a little extra incentive to jump into the trading game.
Now, to be eligible for the refund, you gotta meet some specific conditions set by the broker. These conditions can be different for each broker, so make sure to read the fine print and know what you're getting into. Typically, the refund bonus covers losses within a certain timeframe. Let's say you lose $500 in the first month. If the broker offers the refund bonus, they'll give you up to $500 as a cash bonus to cover those losses.
But hey, don't go thinking it's all rainbows and unicorns. There might be restrictions on withdrawing the bonus, and it's often given as a trading credit, not cold hard cash. For brokers, it's a way to attract newbies and build trust. They're not directly losing their own money, but it's a smart move to keep traders engaged and boost trading activity.
Andrew
Jun 26 2023
Hey there! How many accounts can actually get the $25 bonus by verifying their phone numbers? Can existing account holders also grab this bonus, or is it just for those who are creating new accounts? And once you complete the verification process and enter the SMS code, how long does it usually take for the bonus to show up in your account? Oh, and one more thing, any restrictions on using or withdrawing the bonus amount? Lastly, what should you do if you don't receive the bonus within the expected timeframe or encounter any issues along the way? Let me know, happy to help!
Gerard
Jul 3 2023
@Andrew: Hey there! If you're wondering about the $25 bonus for verifying your phone number, let me break it down for you. The number of accounts that can receive the bonus may vary depending on the promotion. It's best to check the terms and conditions or contact the platform directly for accurate information.
As for existing account holders, the availability of the bonus might be different. Some promotions are only for new account holders, while others include existing users. Make sure to check the details or ask customer support for clarification.
Once you complete the phone number verification and enter the SMS code, it may take a few minutes to a few business days for the bonus to show up in your account. Keep an eye on your account for updates or notifications.
When it comes to using or withdrawing the bonus amount, there are usually specific rules in place. These might include trading volume requirements or time restrictions before you can withdraw the bonus funds. It's important to review the terms and conditions to understand any limitations.
If you don't receive the bonus within the expected timeframe or face any issues, reach out to customer support. They'll be able to assist you and address any concerns or problems you have.
I hope that helps!