Xtrade

Xtrade Broker Review

Founded in 2010, XTrade’s home base is in Cyprus. The brokerage is regulated by CySec, which is the Cyprus national financial controlling agency. X Trade offices can be found on five continents, and they XFR Financial Ltd operates them. XTrade’s  trading services can be reliably accessed across the globe, providing high-quality investment services to traders in over 140 countries. XTrade gives its clients a wide range of assets to trade, as well as first-rate bonuses and trader incentives.

Tradeable Assets

XTrade’s tradeable assets include CFDs, Indices, Commodities, Shares, Forex, CryptoCurrencies, ETFs, and Bonds. With XTrade, you have the ability to trade in over 52 currency pairs, at least half of them exotic pairings that you might not find when you use another broker. X Trade’s offer of a Bitcoin pairing is yet another example of the broker’s cutting-edge attitude towards trading.

Looking beyond Forex’s impressive share of X Trade’s assets, there are over one hundred additional choices. Each choice has its own minimum margin requirement and bid/ask spread dynamic, making trading very individualized and unique.

Account Types

There are two account types available:

Standard:

• Suitable for beginning traders
• There are no commissions on deposits
• Minimum deposit amount: {currency}100
• Spreads are 4-6 majors
• The leverage is up to 1:400

Premium:

• Suitable for advanced traders
• No commissions on deposits
• Minimum deposit amount: {currency}1000
• The leverage is up to 1: 400
• Premium has special features, VIP services, and better spreads.

Type of Broker

XTrade is an online CFD (Contracts for Difference) trade broker that offers its clients, among other assets, a wide range of CFDs, which is considered to be one of the most straightforward ways to trade. CFDs involve purchasing a contract with your broker that will pay off if the market tilts in your favor. However, you should note that this trading is really for advanced traders only, as your money is very much at risk when trading CFDs. Experienced brokers are most suited to this trading.

Regulation

XTrade is regulated by the Cypress Securities and Exchange Commission, also known as “CySec.” This regulation has been in place since XTrade’s founding in 2010.

Platforms

XTrade takes a unique position with regards to its platform. Many brokers use the popular, industry-standard MetaTrader4 for trading, however, XTrade does something different. XTrade offers clients the Xtrade Pro proprietary platform. This platform is web-based, but there are mobile versions available (as you’ll see in the next section, XTrade is big on mobile trading).

Xtrade Mobile Trading

XTrade’s mobile trading is highly rated and reviewed. XTrade’s platform is available on mobile, as aforementioned, and the platform accommodates traders needs in the most efficient manner. CFD trading differs from other trading, and XTrade developed its own mobile platform to make this happen. All personal information and other data are encrypted using the latest in SSL, 256-bit technology.

Bonuses

XTrade has a unique welcome package that includes a variety of different bonuses. For a first deposit bonus, you can get up to $6,000. Upon verifying your phone number, you can get a $25 bonus, and verifying your account gets you another bonus of up to $30 cash. The first trade you make can get you a maximum of $120 in bonus money. This welcome package is unlike anything else in the industry, and similar bonuses are available for loyal traders.

Deposit Options

There are are many different ways with which you can make your deposit, including the use of credit/debit cards, bank wire transfer, e-wallets including PayPal, WebMoney, and more. There are no deposit fees.

Withdrawal Methods

To withdraw, you need to use the exact same method that you worked with to make a deposit. Withdrawals typically take up to five business days to process, although, if there are delays outside XTrade’s control due to third parties, the deposit may take longer. Withdrawals must follow the same method as the deposit.

Customer Support

With XTrade, there are a variety of different customer support options, including live chat, phone, and email. XTrade has representatives available 24/5, and these reps speak six languages. You will find the website is even more comprehensive, as it supports sixteen languages and contains a wide variety of tools and education to help. Account managers are always standing by to help clients.

Ease of Use

XTrade’s withdrawal and deposit methods are simple and straightforward. You can open an account using several currencies, including the Yen, US and Canadian dollar, Swiss Francs, and Euros. XTrade offers clients traditional debit and credit card methods and wire bank transfers, as well as contemporary online wallets. The minimum amount required to open an account is $100.

Why Trade at Xtrade

XTrade offers its clients 52 currency pairs, and 21 are exotic pairings you are not likely to find using a traditional broker. XTrade also offers a Bitcoin pairing, showing that it is cutting-edge. Aside from forex trading, there are almost one hundred asset choices, each of which has its own Bid/Ask spreads, leverage amounts, and minimum margin requirements. Furthermore, X Trade presents clients with various educational tools and resources to help clients understand how to open and close positions and deal with risk management issues. Lastly, XTrade is a broker that charges zero commissions; instead, it makes its revenue via overnight premiums and Bid/Ask spreads.

To see how XTrade ranks against other industry-leading trading platforms see our comparison charts. Read our expert reviews, see our ratings and compare the best online trading platforms, features, fees, and more.