Xtrade Review

Category: Reviews | Author: Trading Brokers | Date: September 22, 2023

Xtrade is an online broker that offers forex and CFD trading on various assets, such as stocks, commodities, indices, and cryptocurrencies. Xtrade was founded in 2003 and is regulated by several authorities, including CySEC in Cyprus, ASIC in Australia, and FSCA in South Africa. Xtrade claims to provide a user-friendly and innovative trading platform, as well as a range of educational resources, market analysis, and account options for traders of different levels and needs. However, as with any broker, there are also some potential drawbacks and risks involved in trading with Xtrade, such as fees, customer service, or platform availability. Therefore, it is essential to conduct a comprehensive and objective review of Xtrade before deciding to trade with them. In this article, we will examine Xtrade’s regulation, platforms and tools, education, markets, accounts, and funding methods, and provide our verdict on whether Xtrade is a reliable and trustworthy broker to trade with.

Pros & Cons

  • Xtrade is considered a trustworthy and reliable broker
  • Xtrade provides traders with ample digital tools
  • Xtrade offers a comprehensive trading platform with a wide range of financial instruments
  • Offers a range of educational resources, market analysis, and account options for traders of different levels and needs
  • Xtrade has a high minimum deposit of $250 compared to some alternatives
  • Xtrade has below-average fees with wide spreads
  • Xtrade charges a $50 inactivity fee
  • Xtrade does not offer cryptocurrency and Bitcoin trading

Summary

Xtrade Review

Xtrade Review

Xtrade is an online broker that was established in 2003 and offers forex and CFD trading on various assets, such as stocks, commodities, indices, and cryptocurrencies. Xtrade is regulated by several authorities, including CySEC in Cyprus, ASIC in Australia, and FSCA in South Africa, which ensures a high level of security and transparency for its clients.

Xtrade provides a user-friendly and innovative trading platform that has won several awards, as well as a range of educational resources, market analysis, and account options for traders of different levels and needs. Xtrade also stands out for offering competitive spreads and commissions across a variety of trading instruments, as well as unique features such as weekend trading with synthetic indices and cashback rewards. Xtrade aims to be a reliable and trustworthy broker for online trading, but as always, understanding the associated risks is crucial.

AvaTrade Logo

Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

Xtrade, operating as Xtrade International Ltd in Belize, is regulated by the International Financial Services Commission (IFSC) under license IFSC/60/383/TS/19. They are also licensed by reputable authorities in Europe (CySEC), Australia (ASIC), and South Africa (FSCA). These regulators ensure compliance with strict standards, including fund segregation, investor protection, and data privacy. Xtrade’s multi-regulatory approach highlights its commitment to a secure trading environment. However, traders should understand the nuances of each regulatory body and trading risks before opening an account. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

Xtrade offers its clients a proprietary trading platform that is designed to be user-friendly and innovative. The Xtrade platform allows traders to access a wide range of markets and instruments, such as forex, commodities, indices, stocks, and cryptocurrencies. The platform also provides advanced features and tools, such as real-time charts, technical indicators, trading signals, market analysis, and automated trading. The Xtrade platform can be accessed via web browser, mobile app, or tablet app, depending on the trader’s preference and convenience.

Xtrade platform

Xtrade platform

The Xtrade WebTrader is a browser-based platform that does not require any download or installation. The WebTrader offers a rich set of features and trading tools to ensure an optimized trading experience. Traders can easily access the best market analyses available and speedily execute trades and orders. The WebTrader also supports one-click trading, stop-loss and take-profit orders, price alerts, and multiple order types.

The Xtrade Mobile Trading App is an intuitive multi-asset trading app that is compatible with iOS and Android devices. The Mobile Trading App includes full-featured functionality, real-time charting with all the leading technical indicators and extensive trading tools. Traders can enjoy alerts, notifications, friendly one-click navigation and professional charting tools at their fingertips. The Mobile Trading App also allows traders to deposit and withdraw funds, view their account history, and access customer support.

In addition to its platforms, Xtrade also provides its clients with a range of useful tools and resources to enhance their trading skills and strategies. These include:

  • Economic Calendar: A comprehensive economic calendar that displays the upcoming economic events and indicators that might affect the markets. Traders can filter the calendar by date, country, currency, impact, and category to get relevant information for their trading decisions.
  • Market Reviews: Daily market reviews that cover the major events and trends in the global markets. Traders can get insights into the performance of various assets and instruments, as well as the factors that influence them.
  • 1-on-1 Platform Lesson: A personalized platform lesson that teaches traders how to use the Xtrade platform effectively. Traders can learn about the features and functions of the platform, as well as tips and tricks to improve their trading experience.
  • Daily Analysis Video: A daily analysis video that provides a visual overview of the market movements and opportunities. Traders can watch the video to get a clear picture of the market conditions and potential trades.
  • Calculators: A set of calculators that help traders to calculate various aspects of their trading, such as margin, pip value, swap, profit, and currency conversion. These tools enable traders to estimate their trading costs and potential profits accurately.

Education

Xtrade is an online broker that values the education of its clients and provides them with various resources and opportunities to learn and improve their trading skills and strategies. Xtrade’s education section covers a wide range of topics related to forex and CFD trading, such as:

  • Video Tutorials: A series of short and informative videos that teach traders the basics of forex and CFD trading, as well as how to use the Xtrade platform and its features. The videos cover topics such as how to open and close trades, how to use stop-loss and take-profit orders, how to apply technical analysis and indicators, how to use trading signals, and more.
  • Courses: A collection of online courses that cover different aspects and levels of forex and CFD trading. The courses include beginner, intermediate, and advanced courses, as well as courses on specific topics such as trading psychology, risk management, trading strategies, market analysis, and more. The courses are interactive and engaging, with quizzes, exercises, and examples to help traders learn and apply their knowledge.
  • Glossary: A comprehensive glossary of trading terms and definitions that help traders understand the terminology and concepts used in forex and CFD trading. The glossary includes terms such as leverage, margin, spread, pip, lot, bid-ask price, order type, chart type, candlestick pattern, trend line, support and resistance, moving average, oscillator, and more.
  • Trading Info: A section that provides traders with useful information and tips on how to trade forex and CFDs effectively. The section includes articles on topics such as how to choose a broker, how to manage your account, how to avoid common mistakes, how to use trading tools, how to trade different instruments, how to trade in different market conditions, and more.
  • Blog: A blog that features daily market reviews, analysis, news, and commentary on the global markets and trading opportunities. The blog also includes educational articles on various trading topics, such as technical analysis, fundamental analysis, trading psychology, trading strategies, market trends, and more.
  • Trading Education: A section that offers traders the opportunity to learn from professional traders and experts through webinars, seminars, workshops, and one-on-one sessions. These learning events cover various topics related to forex and CFD trading, such as market overview, platform demonstration, trading signals review, technical analysis review, fundamental analysis review, trading plan development, risk management review, trading performance review, and more.

Markets

Xtrade is a versatile online broker offering a wide array of trading instruments, including CFDs on indices, commodities, shares, forex, ETFs, and bonds. With over 1500 CFDs available, traders can speculate on various assets, enjoying the flexibility to profit from both rising and falling markets while using leverage. Xtrade provides competitive spreads, commissions, and advanced trading tools for CFD trading. They offer access to over 20 indices CFDs, 10 commodities CFDs, 500 shares CFDs, 50 currency pairs, 30 ETFs CFDs, and 10 bonds CFDs. Xtrade aims to empower traders with diverse trading opportunities and supports them with market analysis, trading signals, and educational resources. However, it’s crucial for traders to understand the risks associated with these instruments and review Xtrade’s terms and conditions before engaging in trading activities.

Accounts

Xtrade offers four types of accounts for its clients, depending on their deposit amount and trading preferences. These are:

  • Standard Account: This is the basic account type that requires a minimum deposit of $25. It offers access to all the trading instruments, platforms, and tools that Xtrade provides, as well as a welcome bonus of up to 60%. The standard account also features fixed spreads, leverage up to 1:400, and free withdrawals.
  • Premium Account: This is the intermediate account type that requires a minimum deposit of $1000. It offers the same features as the standard account, plus a personal account manager, premium daily analysis, and exclusive updates. The premium account also offers a higher welcome bonus of up to 77%.
  • Platinum Account: This is the advanced account type that requires a minimum deposit of $5000. It offers the same features as the premium account, plus a professional account manager, VIP daily analysis, and priority withdrawals. The platinum account also offers a higher welcome bonus of up to 88%.
  • VIP Account: This is the elite account type that requires a minimum deposit of $20000. It offers the same features as the platinum account, plus a senior account manager, VIP customer support, and invitations to exclusive events. The VIP account also offers the highest welcome bonus of up to 100%.

Xtrade’s account types aim to cater to different levels of traders and provide them with various benefits and incentives. However, traders should also be aware of the costs and risks involved in trading with Xtrade, such as high fixed spreads, inactivity fees, and dormant account fees. Therefore, it is advisable to read and understand the terms and conditions of Xtrade before opening an account and trading with them.

Funding

Xtrade allows its clients to make a deposit and withdrawal through an array of payment options, which include:

  • Credit/Debit Cards: Visa and Mastercard enable deposits and withdrawals. The minimum deposit and withdrawal amounts are $100, with no maximum limit per transaction. Deposits are processed instantly, while withdrawals may take up to 5 business days. Xtrade does not charge any fees for deposits and withdrawals, but your bank or card issuer may apply some charges.
  • E-Wallets: Skrill, Neteller, PayPal, Alipay, UnionPay, and PaySera support both deposits and withdrawals. The minimum and maximum transaction limits are $100 and $10,000, respectively. Deposits are processed instantly, while withdrawals may take up to 2 business days. Xtrade does not charge any fees for deposits and withdrawals, but your e-wallet provider may apply some charges.
  • Local Transfers: Xtrade offers local bank transfers for clients in certain countries, such as China, Malaysia, Thailand, Vietnam, Indonesia, and South Africa. The minimum deposit and withdrawal amounts are $100, with no maximum limit per transaction. Deposits are processed within 1-2 business days, while withdrawals may take up to 5 business days. Xtrade does not charge any fees for deposits and withdrawals, but your bank may apply some charges.
  • Bitcoin: Xtrade accepts Bitcoin as a payment method for deposits only. The minimum deposit amount is $100, with no maximum limit per transaction. Deposits are processed within 1-2 hours. Xtrade does not charge any fees for deposits, but your Bitcoin wallet provider may apply some charges.
  • Bank Transfers: Xtrade also accepts international bank transfers for deposits and withdrawals. The minimum deposit and withdrawal amounts are $1000, with no maximum limit per transaction. Deposits are processed within 3-5 business days, while withdrawals may take up to 10 business days. Xtrade does not charge any fees for deposits and withdrawals, but your bank may apply some charges.

Conclusion

In conclusion, Xtrade is an online broker that offers forex and CFD trading on various instruments, such as indices, commodities, shares, ETFs, and bonds. Xtrade provides a user-friendly and innovative trading platform, as well as a range of educational resources, market analysis, and account options for traders of different levels and needs. Xtrade also holds licenses from multiple regulators across different jurisdictions, which ensures a high level of security and transparency for its clients. However, Xtrade also has some drawbacks and risks, such as high fixed spreads, inactivity fees, dormant account fees, and limited customer support. Therefore, it is advisable to read and understand the terms and conditions of Xtrade before opening an account and trading with them. Moreover, it is important to note that there are other brokers with longer track records that might be worth considering as alternative options. For more choices, we recommend you to check out our trading broker reviews.

Xtrade Logo

$250

Xtrade is an online trading broker that offers a range of financial instruments, including forex, CFDs, indices, commodities, and cryptocurrencies. Xtrade is regulated by CySEC and IFSC and provides a user-friendly web-based platform and mobile apps. Xtrade also offers educational resources, market analysis, and customer support to help traders succeed in the markets.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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