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XTrade Review and Tutorial

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XTrade Facts & Figures

XTrade is an online FX & CFD broker offering its own bespoke desktop and mobile platform.

 

Awards

• Best Broker Middle East 2016 – Forex Report
• Best Mobile Platform 2016 – FX Empire
• Best Forex Broker 2016 – FFXPO Awards

Bonus N/A
Instruments Forex, CFDs, indices, shares, commodities
Demo Account Yes
Min. Deposit $250
Pay Methods Neteller, Paysafecard, Skrill, Sofort
Min. Trade 0.01 lots
Regulated By CySEC, IFSC
MetaTrader 4 No
MetaTrader 5 No
cTrader No
ECN Account No
DMA Account No
Mobile Apps Yes
Auto Trading No
Social Trading No
Copy Trading No
Trade Signals Yes
Islamic Account No
CFD
FTSE Spread 5 pts
GBPUSD Spread 2.5-5 pips
Oil Spread 5 pips
Stocks Spread Variable
Leverage 1:400
Forex

Trade on over 50 major, minor, and exotic currency pairs.

 

GBPUSD Spread 2.5-5 pips
EURUSD Spread 1.7-5 pips
EURGBP Spread 3-5 pips
Assets 56
Risk Warning – Your capital is at risk

XTrade is a CySEC-regulated forex and CFD broker. To help you decide whether to open an online trading account, this review explores the broker’s platform, mobile app, minimum deposit, payment methods, and more.

XTrade Company Overview

The CFD investment broker is owned by XTrade Group Limited and is headquartered in Limassol, Cyprus. The company has several daughter brands, including XTrade Europe Ltd. and XTrade International Ltd, that serves clients from Dubai to Uruguay.

The broker was founded in 2003, has 15 offices worldwide, and is registered with over 10 regulatory agencies, including in Cyprus, the Philippines, Malaysia and the UAE. XTrade does not, however, provide services to the UK, Canada and some other countries.

XTrade WebTrader Platform

The exclusive online stage requires no download or establishment. Indeed, even from the login page, the plan is natural for novices, while the successful exchanging apparatuses have helped the stage get various honours. It’s open in 11 dialects and offers 12 specialized markers, 4 outline styles, 9 time-frames, and 17 investigation instruments. There is additionally a coordinated financial schedule, news string and a signs administration.

Note, the mainstream MT4 exchanging stage download isn’t accessible.

Assets & Markets

More than 200 online FX and CFD instruments are accessible, including:

  • 56 forex pairs – 19 majors, 9 minors, & 28 exotics
  • Commodities – Precious metals & energies
  • Stock indices – Eight global stock indexes
  • Shares – Close to 200 company shares

XTrade also offers some of the ETFs.

Spreads & Commissions

XTrade utilizes an expense structure with zero commissions, just taking cash from spreads. Spreads are variable. For instance, GBP/USD spreads can go from 2.5 to 5 pips, EUR/USD goes from 1.7 to 5 pips, and EUR/GBP goes from 3 to 5 pips. 

Some client objections feature the $50 idleness expense charged to accounts stagnant for over 90 days. Overnight payments, or trades, are additionally authorized for places that are held open after 22:00 GMT.

Leverage

Influence rates fluctuate up to a limit of 1:400. The influence levels for files range from 1:20 to 1:200, products up to 1:10, forex sets can be utilized somewhere in the range of 1:50 and 1:400 and load up to 1:5. According to ESMA guidelines, retail dealers in EU-controlled business sectors, like Germany, are covered at an influence of 1:30.

Mobile Apps

The XTrade stage has additionally been created for portable use with iOS and Android cell phones and tablets. 

Called ‘XTrade Online Trading,’ the versatile application is handily introduced, with a responsive UI and a large part of the capacity given by the electronic stage. 

The application permits one-contact exchanging with live costs, diagramming alternatives, investigation apparatuses, notices and record financing choices. 

A significant number of the extra instruments, such as Autochartist signals and financial schedules, are likewise accessible on the portable stage and get great audits.

Payment Methods

XTrade offers a broad scope of installment techniques that fluctuate for customers from various nations. All customers are offered Visa and Mastercard installment card choices just as bank wire moves. 

There is the most significant store cutoff of $15,000 for installment cards. However, there is no restriction on wire moves. Dealers can utilize several homegrown e-wallets and installment suppliers, including UnionPay and Neteller, each with its most significant stores. 

There is a base store of $250. However, this might be decreased during limited-time occasions. 

Withdrawals should be made utilizing a similar technique as the store. Be that as it may, assuming a store was made using an e-wallet, withdrawals can be handled using bank move, Skrill or Neteller. 

XTrade can require five days to handle a withdrawal. However, it might take more time to arrive at an accurate record as some installment suppliers set aside additional effort to measure. There are no store or withdrawal expenses charged concerning the agent.

Demo Account

A wholly prepared online demo account accessible to current and planned customers, permitting merchants to figure out forex and CFD exchanging on the stage. The record utilizes reenacted cash, and once passed the login page, you can open and close situations at actual costs in genuine business sectors, which means there is no danger to capital.

Deals & Promotions

At the hour of composing, there are no gladly received or store rewards on offer. Be that as it may, they run occasional special missions and have been known to drop least stores, offer store rewards and even collaborate with worldwide football star Cristiano Ronaldo. 

Note, consistently check additional agreements before you start account enlistment.

Regulatory Status

XTrade is an authorized forex specialist approved and managed by the Cyprus Securities and Exchange Commission (CySEC) in Europe and a few different organizations for its global administrations. 

XTrade International Ltd likewise follows the International Financial Services Commission’s guidelines for overall exchanging. 

Customers’ assets are kept isolated from the company’s, implying that the organization’s and customers’ resources are unmistakably recognized and giving financial security to dealers. 

All customer accounts are additionally opened under the Investor Compensation Fund (ICF), which conceals dealers to €20,000, should the specialist, not payout rewards.

Additional Features

Just as their honour-winning exchanging stage, XTrade offers a few additional highlights to its customers. A wholly populated monetary schedule and news stream can use the site or through the scene. 

Additional day-by-day market investigation recordings were transferred to their site and YouTube channel and mini-computer apparatuses accessible for Pivot, Fibonacci, and arrangement size estimations. 

The XTrade site additionally accompanies an instruction focus with a scope of devices equipped for learners and those with long periods of involvement. The middle covers the fundamentals of the stage and outlines complex exchanging procedures and market investigation through instructional exercises, online courses, digital books, PDFs, and a blog. There is additionally a comprehensive glossary to help merchants slice through any new language.

Account Types

XTrade doesn’t separate between brokers, offering a solitary record type for all genuine cash exchanging. Each broker gains admittance to the full scope of instruments, web and versatile stages, in addition to instructive focus. This implies that less great spreads can’t stay away from like they can with numerous layered record structures.

Benefits

Customers are furnished with a scope of cutthroat highlights:

  • Award-winning trading platform
  • Global licensing and regulation
  • Daily market analysis videos
  • Range of payment options
  • Autochartist signals
  • No commissions

Drawbacks

There are, be that as it may, a few regions where the specialist could improve:

  • No cryptocurrency & Bitcoin trading
  • No automated investing capability
  • No Islamic account option
  • No social trading
  • No MetaTrader
  • Wide spreads

Trading Hours

The market exchanging hours for the instruments upheld by XTrade are 21:00 GMT Sunday to 21:00 GMT Friday during sunlight saving and 22:00 GMT Sunday to 22:00 GMT Friday during cold weather months. A few instruments may have more restricted exchanging hours, the subtleties of which can be found in the site’s CFD data list.

Customer Support

The client service group can be reached 24 hours per day, 5 days per week through a few techniques. A phone line opens at 22:00 GMT on Sunday and closes at 22:00 GMT on Friday. There is additionally email support, and the merchant has a vast web-based media presence. 

For general enquiries and backing, XTrade might be reached utilizing a live talk work in the lower right corner of their site. The site upholds 35 dialects, and live visit delegates are accessible in six unique dialects. The client care group can be reached through:

  • Email address – support@xtrade.com
  • Telephone contact number – +44 2038074001

The help group can assist with a scope of questions, erase a record, use the stage, or explore account checks. 

To follow the representative via online media:

  • Twitter
  • Facebook
  • LinkedIn
  • YouTube

The organization’s administrative center location in Cyprus and its areas in Melbourne, Australia, can be found on the specialist’s site.

Trader Security

XTrade gives an undeniable degree of network safety, with 256-cycle standard Secure Sockets Layer (SSL) encryptions provided by Comodo on all exchanges and site traffic. 

The agent has a few wholesale frauds and Mastercard shields set up, all of which go through traditional surveys. The site additionally utilizes True-Site character confirmation and conforms to AICPA WebTrust affirmation norms.

XTrade Verdict

XTrade is an honour-winning supplier and a solid contender versus dealers like eToro and Plus500. Its free signals and special schooling place settle on it a reasonable decision for customers new to exchanging forex and CFDs, precisely. 

The ten+ long stretches of industry experience are likewise a decent pointer that they’re protected from exchanging.

Accepted Countries

XTrade accepts traders from Australia, Thailand, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders cannot use XTrade from the United States, Canada, and United Kingdom.

Alternatives to XTrade

Suppose you are searching for options in contrast to XTrade. We have ordered a rundown of the leading 5 merchants that are like XTrade underneath. This rundown of agents like XTrade is arranged by likeness and incorporates organizations that acknowledge dealers from your area. 

  1. OctaFX – OctaFX offers multi-resource exchanging on a scope of stages and versatile arrangements. 
  2. RoboForex – RoboForex is a multi-resource online specialist offering excellent exchanging assistants. 
  3. HYCM – Trade on the monetary business sectors with minimal expense, utilized items at HYCM. 
  4. IronFX – IronFX offers web-based exchanging forex, stocks, prospects, items and cryptographic forms of money 
  5. Hantec Markets – Hantec Markets is a multi-directed online FX merchant offering MT4 and custom-fitted help, giving enormous adaptability to suit any dealer.

FAQ

Is XTrade a legitimate brokerage company?

XTrade Europe Ltd. is authorized and controlled by the Cyprus Securities and Exchange Commission (CySEC) for administrations in Europe. XTrade International Ltd. is authorized and directed by the International Financial Services Commission in Belize. We’re agreeable the intermediary isn’t a trick.

What is the minimum deposit for an XTrade account?

The base store needed to open a record is $250, while the base position is 0.01 parcels.

Is there an XTrade demo account?

Indeed, XTrade offers a demo account with every one of the capacities and choices accessible with a real cash account.

Does XTrade offer an MT4 download?

No, XTrade offers its own exclusive exchanging stage intended for program-based exchanging. The location has additionally been made into a portable application for iOS and Android cell phones and tablets.

Can I open an XTrade account in Canada or the USA?

No, XTrade offers its own exclusive exchanging stage intended for program-based exchanging. The location has additionally been made into a portable application for iOS and Android cell phones and tablets.

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