XTrade Group Limited, based in Limassol, Cyprus, owns the CFD investing broker. XTrade Europe Ltd. and XTrade International Ltd. are two of the company’s subsidiary brands, which service clients from Dubai to Uruguay.
The broker was established in 2003 and now has 15 offices around the world, as well as registrations with over ten regulatory organisations, including Cyprus, the Philippines, Malaysia, and the United Arab Emirates. XTrade, on the other hand, does not offer services in the United Kingdom, Canada, or a few other nations.
Over 200 online FX and CFD instruments are available, including:
XTrade also offers several ETFs.
XTrade charges no commissions and makes money only from spreads. Spreads vary; for example, GBP/USD spreads might be 2.5 to 5 pips, EUR/USD spreads can be 1.7 to 5 pips, and EUR/GBP spreads can be 3 to 5 pips.
According to certain user complaints, accounts that have been dormant for more than three months are subject to a $50 inactivity fee. Positions that are open after 22:00 GMT are subject to overnight premiums or swaps.
The XTrade platform has also been optimized for usage on mobile devices and tablets of IOS and Android.
“XTrade Online Trading,” is a mobile application with a solid user interface and most of the functions supplied by the web platform, is simple to install.
With live prices, chart options, analysis tools, notifications, and account funding options, the app provides one-touch trading.
Many other tools, including Autochartist signals and the economic calendar, are also available on the mobile platform and have received positive feedback.
There is no need to download or install the web platform. The design is straightforward for newcomers even on the login page, and the platform’s powerful trading features have helped it win multiple honours. It comes with 12 technical indicators, 4 chart styles, 9 timeframes, and 17 analysis tools and is available in 11 languages. There’s also an economic calendar, news feed, and alarm service built in.
XTrade provides a diverse choice of payment options for clients from various countries. Payment cards such as Visa and Mastercard, as well as bank transfers, are available to all clients.
Payment cards have a maximum deposit limit of USD 15,000, however bank transfers have no such restrictions. Traders can utilize a variety of internal e-wallets and payment service providers, such as UnionPay and Neteller, all of which have different deposit limits.
The minimum deposit is $250, although during promotions, it can be reduced.
Withdrawals must be processed in the same way that deposits are. Withdrawals can be done via bank transfer, Skrill, or Neteller if the deposit was made using an e-wallet.
XTrade can take up to five days to complete a withdrawal, though it may take longer to reach the target account due to additional processing time required by some payment providers. When depositing or withdrawing funds, the broker does not charge a commission.
Current and new clients can use a fully functional online demo account to gain a feel for trading on the Forex and CFD platforms. The account is funded with simulated money, and after completing the login page, you can open and close trades in real markets at real prices, posing no risk to your funds.
In Europe, XTrade is a licenced forex broker whose international services are regulated by the Cyprus Securities and Exchange Commission (CySEC) and a number of other bodies.
XTrade International Ltd also follows the International Financial Services Commission’s international trading regulations.
Client funds are kept separate from company funds, which means that company and client assets are clearly delineated, providing merchants with monetary security.
All client accounts are also opened under the Investor Compensation Fund (ICF), which covers traders up to € 20,000 if the broker is unable to pay out the winnings.
XTrade provides its clients with various more advantages in addition to its award-winning trading platform. The website or platform has a fully completed economic calendar and news stream that may be browsed.
On their website and YouTube channel, they also have daily market analysis videos, as well as calculator tools for calculating Pivot, Fibonacci, and trade size.
The XTrade website also features an education area with a variety of tools aimed for both beginners and seasoned traders. Through tutorials, online courses, e-books, PDFs, and a blog, the centre covers platform foundations and charts, sophisticated trading tactics, and market analysis. A comprehensive dictionary is also available to help traders decipher any new language. The XTrade website also features an education area with a variety of tools aimed for both beginners and seasoned traders. Through tutorials, online courses, e-books, PDFs, and a blog, the centre covers platform foundations and charts, sophisticated trading tactics, and market analysis. A comprehensive dictionary is also available to help traders decipher any new language.
XTrade does not distinguish between traders, instead providing a single account type for all real-money trading. Each trader has access to all of the tools, as well as web and mobile platforms and an instructional centre. However, unlike many tiered account structures, this means that less favourable spreads cannot be avoided.
Clients are provided with:
However, there are some areas that the broker can improve:
In the summer, market trading hours for instruments supported by XTrade are from Sunday 21:00 GMT to Friday 21:00 GMT, while in the winter, market trading hours are from Sunday 22:00 GMT to Friday 22:00 GMT. Limited trading hours may apply to some instruments; specifics can be found in the CFD Information List on the website.
XTrade ensures a high level of security by encrypting all transactions and website traffic with Comodo’s 256-bit standard Secure Sockets Layer (SSL) encryption.
The broker has many anti-identity and anti-credit card theft procedures in place that are periodically audited. The website also employs site authentication and adheres to the WebTrust assurance criteria set forth by the AICPA.