Xtrade Review
About Xtrade:
The broker Xtrade was previously known as XFR, Financial Ltd.
The broker site was established way back in 2003, its headquarters are established in Cyprus, and the site is known for offering traditional trading through CFD (contact for differences) on shares, commodities, and indices, basically all financial instruments.
The company has been hugely popular for continuously increasing its ranges and adding instant access to the most frequently used and well-known cryptocurrencies that are available 24*7.
They are available through trading platforms. The cryptocurrencies available are- Bitcoin, Bitcoin Cash, Litecoin, and Ethereum, Ripple, and other digital coins.
The international proposal was well performed through the channels of an established entity in Belize. It allows international traders the assistance to open the accounts and get a higher level of leverage or other conditions.
Security and Safety:
In our Xtrade review we found Xtrade as one of the most trustworthy brokers with CySEC regulation. It is a highly user-friendly interface and upgraded trading technology with platform selection and spreads on an average low basis.
The account opening is quick and there is a selection from a wide array of forex and CFD instruments.
Pros and Cons:
However, on the negative side, there are quite some limitations and restraints in product offerings.
Support is not available 24*7 and last but not least the international proposal is done through the Belize entity only.
Additional Information:
The leverage is fixed at 2:30. The minimum deposit is 600000 to $50. The trading platforms are Metatrader 4, tech street, web trader.
The funds of the customers are always segregated at one place as has been seen from the Xtrade reviews. It means an account in which the trader’s assets are kept separated from the broker’s assets and every client account is started under the Investment Compensation Fund.
Licensing:
The licensing of Xtrade is Xtrade Europe limited which is authorized by a registration number. Xtrade International Limited and Financial Arena Limited is authorized by IFSC Belize, it’s straight through the long operation has spread around the world magnificently alongside serving that lines from a large number of countries as one of the most recognized online trading companies with a magnanimous experience and global presence.
Account Operation:
The firm has been able to confirm its status by many awards and industry accolades throughout the years.
One Xtrade account can easily trade and operate across different devices, which makes no difference between the ones being engaged as traders.
In the very beginning, the trader has always had the choice to get involved with the risk-free environment through demo account opening.
One can either grow one’s account so that the account reaches up to a certain balance and after it does it turns into either a premium account with a $1,000 balance, a platinum account with a $5,000 balance, or a VIP account with the $25,000 balance accordingly.
Trading Conditions:
The trading conditions are constant throughout and the features are the same support education, news, and available numerous signals, yet there has been a spread reduction noticed.
There are additional educational videos available for the platinum and VIP account types.
Financial instruments:
The Xtrade trading instruments and financial products are catered through popular CFDs or contract for differences model, which permits vastly flexible chances on price gambling without a specific owner of an asset.
It also allows trading, in CFDs on a recognized global level, on the most actively traded company shares like Apple, Google, JP Morgan, IBM with a 5% margin.
Forex trading includes the most popular international currency pairs such as Euros and US dollars, US dollars, and JPY, it also trades in one of the highest demanded cryptocurrencies.
Features:
Xtrade offers various technical solutions for all of its customers and there are various tools available for a better trading environment. Along with the negotiated costs with no commission policy, only a fixed amount of spreads is charged.
Additional costs like non-trading fees, funding fees, and inactivity fees are also charged.
Withdrawal or Deposit:
To deposit or withdraw funds, the customer has a variety of options to opt from, yet it depends upon the location of the customer which can easily be checked through the official Xtrade website.
The available methods that permit deposits include :
- Credit cards/debit cards
- Bank transfers
- American express
- Paypal and many more other options.
There are no deposit or withdrawal fees charged to the customer of the company.
Gearing or Leverage:
Leverage or gearing is one of the most unique chances for the customers to magnify their trading potential and reap huge benefits using the tool of leverage.
On the other hand, every trader should also remember that leverage can both be positive and negative so one should be very careful while using it and to extract maximum benefits one must learn how to use it smartly also.
- The European customers that are under the CySEC regulation as per the current status are allowed to use maximum leverage of 1:30.
- The international customers who operate through Xtrade international may enjoy leverage up to 1:400.