However, despite the high functionality and convenience of the provided terminal, the lack of additional options, such as MT4 or MT5, may limit the choice for specific categories of traders. The account opening process at Xtrade is relatively standard for many brokers following international regulatory standards. However, some clients may express dissatisfaction with the need to disclose personal information for registration and the high minimum deposit, which is standard practice for most brokers. A plus is the ability to use a demo account without restrictions, allowing beginners to get acquainted before moving on to actual trades. Xtrade was founded in 2003 and has built a reputation over the years as a trusted broker, regulated by ASIC in Australia, FSCA in South Africa, and FSC in Belize.
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These educational materials are useful for both beginners and experienced traders looking to expand their knowledge and improve their trading skills. Xtrade also provides market analysis and daily news updates to help traders stay informed about market trends and events. Additionally, the broker’s customer support is available 24/5, ensuring that traders can get assistance whenever needed. With these comprehensive resources and support, Xtrade aims to create a xtrade broker conducive environment for successful trading. Video tutorials offer a unique opportunity for newbies to learn by example and watch educational videos explaining various Forex trading peculiarities. Courses are more advanced and will enable students to understand the fundamentals of financial markets and how to trade.
Regulated by FSC, FSCA, OFA
Moreover, the processing time for withdrawal requests of up to 5 business days is a significant disadvantage, especially compared with other brokers in the market. For more than 20 years, Xtrade has helped clients to make trading decisions, access liquidity, and manage risks. We connect counterparties with market-leading traditional trading of CFDs on shares, commodities, forex, and indices. Our institutional strength, practical expertise, comprehensive technology, and unparalleled network enable us to deliver a powerful global trading platform when and where our clients need it. Xtrade offers around-the-clock support and delivers world-class solutions to its clients in more than 25 countries. Following XTrade International’s offering, XTrade Europe does not provide trading with the highly popular MetaTrader platform.
- The web platform provides convenient access to market analytics, allowing traders to issue orders and execute trades instantly.
- For those who prefer to trade on the go, Xtrade offers a mobile application with a full range of features, including an intuitive interface that facilitates dealing with many assets.
- Courses, glossary, articles – choose anything you want to hone trading skills.
Ratings
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. Most users highly appreciate the promptness, professionalism, and willingness to assist with any issues. It is noted that support responds quickly to requests and provides practical solutions. However, some negative aspects, such as the possible deletion of negative reviews and lack of clarity in communication with consultants, slightly lower the overall rating. The web platform provides convenient access to market analytics, allowing traders to issue orders and execute trades instantly.
FXPRIMUS Review
If there has been no trading activity on the account for 3 months, a fee of 50 USD per month will be deducted. This is important to consider, especially if you plan to take extended breaks from trading. Below is a table of the average spread and swaps for major currency pairs on the standard Xtrade account.
How can I delete my XTrade account?
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. 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.
For the most accurate and up-to-date information on available payment methods and their specific terms, please refer to the official Xtrade website or contact their customer support. By understanding the features and benefits of each platform, you can select the one that best aligns with your trading goals. 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.
BlackBull Review
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. Xtrade uses its own web-based trading platform, which is accessible through a browser with no download required. The platform has an intuitive interface and provides basic tools for technical analysis. Additionally, it offers real-time market data and advanced charting capabilities to enhance the trading experience. The Xtrade Mobile Trading App is an intuitive multi-asset trading app that is compatible with iOS and Android devices.
- The Xtrade Mobile Trading App is an intuitive multi-asset trading app that is compatible with iOS and Android devices.
- 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.
- With over 60 brokers reviewed, our editorial team has published thousands of words of research to help our readers make informed choices.
- The minimum size of the fundamental trading account is limited to a minimum of 250 US dollars.
- CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
However, the absence of cent accounts, fixed spread accounts, Islamic accounts, and Forex copy trading platforms may limit the options for certain groups of traders. The company does not impose restrictions on the use of the demo account, so with its help, any client can devote enough time to testing and developing trading strategies and honing trading skills. Both Xtrade representatives and customer reviews note the possibility of differences between trading on a demo account and entering the real market. Xtrade, established in 2003, provides an average offering in forex and CFD trading.
Trust Score
I completely agree that XTrade should not be recommended for new traders who would think of investing their hard-earned savings using this one of world’s worst trading platform that I have used so far. Xtrade offers a relatively wide range of analytical tools to assist traders in making informed decisions. However, the analytics section could be even more comprehensive, including regular reviews from the company’s experts and trading signals. Broker Xtrade offers its clients an innovative next-generation trading platform accessible from anywhere and on any device, providing traders maximum convenience and flexibility in the trading process.
Daily market news and 1-on-1 trading platform lessons are free for all account holders. The broker offers a wide range of assets, totaling more than 400 instruments in various classes. The broker also provides a fast and straightforward account opening process with no minimum deposit requirements. However, Xtrade’s trading fees, especially its spreads, are relatively high compared to its competitors. Additionally, the maximum leverage offered by Xtrade is very low making it hard to trade with a low budget. In summary, Xtrade may be a reliable broker for traders looking for a place to trade a diverse range of assets, including bonds and ETFs, and comes with low deposit requirements.
I would say the exact part of the broker I have liked will be the different payment methods. The broker provides various payment methods for both depositing and withdrawing and they are very reliable, fast, secure and convenient to use which is awesome. Using this broker has been cool especially with their support team that makes client satisfaction their priority. On the more negative side, Xtrade lags behind the best brokers, particularly in the research and education categories, and offers fewer markets than the industry average. ASIC’s recent cancellation of Xtrade’s license in Australia is also concerning and has substantially impacted its Trust Score. The mobile application has improved significantly and the integration of trading signals is implemented well.
For those who prefer to trade on the go, Xtrade offers a mobile application with a full range of features, including an intuitive interface that facilitates dealing with many assets. The app provides numerous advantages, including building real-time charts using all leading technical indicators and extensive trading tools. Xtrade offers its clients a high-quality and functional proprietary trading platform.
The responsive and multifunctional customer support enhances the convenience of using the broker’s services. At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points. The broker offers educational resources, including e-books, video tutorials, and articles on trading strategies.