Xtrade Review

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Xtrade

Xtrade is a well-established broker since 2010. Xtrade has a headquarter in Cyprus. It is are generally well-suited for Xtrade to provide their Forex/CFD trading services to global clients.

This broker has also been regulated by ASIC 342628, CySEC 108/10, IFSC (Belize) IFSC/60/383/TS/15 and NAFD (Russia) A.


Company Information

🌐 Website
www.xtrade.com

Year Established
2010

🌎 Country
AustraliaCyprusBelizeRussia

💼 Regulation

Features

💰 Bonus offers

☎️ Trading by telephone

Account Information

Apart from the forex demo account, this broker offers Standard. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by Xtrade is up to 1:400. Meanwhile, you can open an account with a starting capital of $100.

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Min Deposit

$100

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Max Leverage

1:400

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Spread

Fixed

If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:



💲 Min Deposit $100

💡 Min Position 0.01 lot

🔢 Spread Fixed

📉 Scalping

🤖 Expert Advisors

Pending orders

💻 Browser-based platform

Instruments Traded

Besides lots of currency pair, Xtrade also offers some instruments you would like to trade on, such as Forex, Stocks, Indexes and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for Standard account, Xtrade specifically provides it with the following instruments and leverage:


Forex

Forex
1:400

Indexes

Indexes
1:200

Cryptocurrencies

Cryptocurrencies
1:10

Payment Methods

CashU : If you live in the Middle East, CashU is one of the most popular online payment services there. CashU is a digital wallet that allows clients to pay or transfer money online instantly and offer users its own pre-paid MasterCard with no absolutely additional fees attached. Introduced in July 2002, CashU has targeted the Middle East and North African markets where it serves close to 2.3 million customers. This is the reason why many of the forex brokers that are expanding in the North African and Middle East market accept CashU as one of their payment methods.

Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.

WebMoney : WebMoney is one of the major online wallet services which many people use to send money around the world. For this reason, there is a large number of forex brokers that accept WebMoney today. Like other online payment services today, WebMoney is supported by mobile applications to make transactions more efficient.

Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.

QIWI : Qiwi is an e-wallet or electronic payment service provider from Rusia that is introduced in 2007. The service is mainly used by individuals and businesses in Russia, Ukraine, Kazakhstan, Moldova, Belarus, Romania, the US, and the UAE.

Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.

Xtrade also provides payment with paysafecard, giropay, YooMoney, UnionPay, SOFORT and Credit/debit cards



Trading Platforms

Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.

Hereby, Xtrade offers you XTrade Platform.

Customer Support

Do you have any question or find any trouble related to Xtrade? If you do, you should reach Xtrade's support to get the information that you need. Here is the detail of the broker's customer support:

Website Languages

Arabic
Chinese
English
Russian
Spanish

Office Support

Email Support

Call Support

Chat Support

Extensive Review

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.



FAQ About Xtrade

Is Xtrade a good broker?

A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if Xtrade is a good broker for you or not by reviewing the criteria. In general, Xtrade provides trading service in Forex , Stocks , Indexes and Cryptocurrencies . As for the payment methods, you can choose between CashU, Credit/debit cards, giropay, Neteller, paysafecard, QIWI, Skrill, SOFORT, UnionPay, WebMoney, Wire transfer and YooMoney. The customer support is available via Email, Live chat and Phone.


What is the minimum deposit for Xtrade?

The starting capital in Xtrade is $100.


Is Xtrade regulated?

Xtrade is regulated by ASIC 342628, CySEC 108/10, IFSC (Belize) IFSC/60/383/TS/15 and NAFD (Russia) A. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.


Is Xtrade legit?

Xtrade is a brokerage company offering trading services for clients since 2010 with offices in Cyprus.




These aspects are optional but will determine your review's reliablity


33 Reviews

Darkmane
Mexico Jan 11 2022
Account Number: (124578787545xxx)

Have you used the mobile version of Xtrade? What are your impressions?

Karel Przybylsky
Poland Jan 6 2022
Account Number: (29**xxx)

I have been working with this broker for 3 years now and we have a full understanding. They don't allow themselves any spam or super risky offers. And I trust their professional instinct and experience.
In fact, I believe that today this is the best offer in terms of price/quality ratio.
Low spreads combined with good trading conditions and a modern trading platform using new technologies for trading.
I think this broker is also great for beginners, considering that there are video tutorials for learning how to work on the trading platform, where you can find almost everything you need for beginners, from registration to charting tools and different options for opening a position.
The broker withdraws money, I think this is one of the main questions traders are interested in.

Theo Berge
Norway Dec 29 2021
Account Number: (296514xxx)

If we say that there are honest brokers, I want to mention in this regard about xtrade broker. In three years of trading with this broker I have only positive impressions. The trading platform is new and modern, the interface is very handy, charts are easy to set up. It is obvious that real professionals worked on the platform. And it is even in spite of the fact that this is a web version, it works much better than any desktop version, or at least the one I used.
Also, there is a wide range of assets to trade, including bonds.

Poltico
Germany Dec 20 2021
Account Number: (4896651xxx)

This broker proved its reliability in my eyes for three months of trading here. So, I doesn’t want to say anything bad about it. For this time I didn’t catched cheating me. Therefore, I have a strong desire to keep trading here.

Maximilian
Germany Dec 12 2021
Account Number: (454512589652xxx)

I can’t say anything special about this broker and I think that it’s good. When a person is silent it means that it’s not complaining now and it also means that at least he’s currently satisfied with what he’s facing. So, I can say nearly the same about this situation with the broker. I joined it several months ago. It proved reliable for this time and it applies to both the trading process and withdrawals. Nothing special but it’s good and it’s how it should be. I like when things are predictable because it gives me peace of mind. I trade typical assets traded by millions of traders around the world - currencies and metals. I thought to try ETFs, but then I gave up this idea because I can do without them. 

David Lefevre
France Dec 7 2021
Account Number: (2158541xxx)

Xtrade suits the beginner in everything. The broker has good courses, thanks to which the quality of my trading has improved and my profits have increased dramatically.
One of my favorite courses for those looking for profitable strategies. Here I found great advice on mathematical models, locks to positions, and selecting entry points into the market.
The only thing that confuses me a bit is their website. Honestly, the site is for the amateur. But that's a minor thing, the main thing is that the quotes from the broker are great.

Zeeshan
Croatia Dec 4 2021
Account Number: (874526956231xxx)

I will rather stay with this broker because as of now everything I tried here absolutely suits me. Here I mean the quality of the trading process and the broker’s trading conditions. I’m satisfied with it. It’s quite unclear to me how to use bonuses here. It has to do with so-called Xpoints, but I let it run its own course. I have always relied on my own funds rather than on any bonuses. The main thing is that I didn’t catch it cheating me.

Henrik Haugen
Norway Nov 20 2021
Account Number: (524125698563xxx)

I can say that I have a very positive feeling about this broker because I discovered a lot of good things here. Well, at first I thought I would join another standard broker. You know today many brokers are getting very similar to each other because fierce competition makes them provide the same stuff. Before joining this broker I made sure it was regulated (cysEC). It’s very crucial for me because I don’t want to be scammed.
As for new things, I mean assets I didn’t trade before. These are government bonds and ETFs. Yeah, I heard about them before and even saw in the asset lists of other brokers but for some reason I neglected them. I tried them with this broker and now I enjoy trading this stuff. CFD makes wonders. Dealing with government bonds, in reality, could be a problem. I mean the standard purchasing procedure beyond brokers because a purchaser needs to take into account inflation as well as other nuances. Here I trade this stuff as any other assets and it’s great. 

Belo Tomechek
Czech Republic Nov 13 2021
Account Number: (5242123652321xxx)

XTrade's offer looks decent to me. I am able to choose between several versions of trading platforms, and even trade on the go with a mobile app. It’s not like I do that too often, but sometimes I need to take a look at my positions. The choice of assets gives me flexibility in terms of trading decisions. The bonus program is attractive. So the overall impression after several months of trading here is positive.

Jonathan Gerritsen
Netherlands Nov 9 2021
Account Number: (201245785695xxx)

I recently decided to try trading the foreign exchange market. Of course, my friends told me that this was all a scam and I would lose money. I believed in this and decided to give it a try. So I opened an Xtrade demo account to try it all.
I chose this particular broker because I read somewhere that this company provides excellent educational resources. As you can imagine, I needed it because I am a beginner and did not understand anything.
Xtrade has a convenient trading platform and I was able to try it thanks to the demo account. Now I am waiting for the opening of a real trading account.
Tell me, what changes in trading can be when I start trading real money?

Luck Lehtinen
FinlandDec 26 2021

Jonathan Gerritsen:

The changes will only be in your head. You will know that this is your real money and you may be a little nervous.
Hope you will be fine. Good luck with your trading!