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XBTFX is an online broker that provides traders all over the globe with online trading on a range of asset classes including forex, indices, cryptocurrency and CFDs. The broker offers the powerful and advanced MetaTrader 5 (MT5) platforms for multiple devices. They have a good selection of educational materials to support informed trading.
XBTFX use a straight through processing (STP) execution model in an ECN environment. This means that traders requests are sent directly through to the broker liquidity providers (banks, funds, etc) without any dealing desk intervention between them. This helps to eliminate any conflict of interest between broker and trader whilst it can also give rapid trade execution speeds and some of the best prices available for tighter spreads.
The broker was founded in 2019 and operate in a transparent manner which includes a unique feature known as the “STP Lock” where XBTFX can act as a dealing desk and cap leverage in case clients want all of their orders executed using STP.
XBTFX Platforms & Tools
XBTFX offer trader the powerful and advanced MetaTrader 5 (MT5) platforms for desktop, web and mobile devices running on iOS and Android. The MT5 desktop platform has complete functionality whereas the web platform runs directly in your web browsers without needing to download or install any additional software. The mobile trading app is very useful for those who need to manage their account and trade whilst on the go.
MT5 was developed by Russian software company MetaQuotes and is a popular choice amongst traders worldwide of all experience levels. It is simple enough to use for beginners whilst also having enough capabilities to match the needs of the more demanding investor. It is packed with a vast range of features and trading tools for conducting in-depth market analysis.
XBTFX offer MT5 with depth of market (DOM) pricing on over 200 Instruments, including forex, cryptocurrency, indices CFDs on Precious Metals and Energies. MT5 is a complete online trading platform also offering trading signals and automated trading with forex robots.
XBTFX Research & Education
There is a trading blog on the XBTFX website with some very useful educational resources which are geared towards improving your trading skills and knowledge. These can help to teach the basics to those of you who are new to trading online.
XBTFX Trading Accounts
XBTFX offer online trading accounts with no minimum deposit requirement and flexible leverage of up to 1:500 on some markets (crypto is limited to 1:50 leverage). You can choose between the standard and ECN account types, both of which can support all types of trading strategies from scalping to hedging and more.
The primary difference between the account types are the spreads and commissions. The ECN account will tend to have the tighter spreads with a small commission fee charged on top. The standard account type does not have a commission fee but instead a small spread mark-up to cover the brokers costs. The type of trading account that you opt for can depend on your trading style. Those who are using forex scalping strategies may need the ECN spreads whereas those who use swing trading strategies may be fine with either account type.
XBTFX demo accounts can be opened for those who would like to practice their trading strategies with virtual funds and test the brokers service.
XBTFX Account Funding
XBTFX clients can deposit and withdraw using 16 Cryptocurrencies and stablecoins. They support blockchain deposits and same day withdrawals with no fees on deposits or withdrawals. The brokers base MT5 accounts are in Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), Ripple (XRP).
XBTFX Customer Service
XBTFX offer good customer support with a team who can be reached via email, live chat and some social media channels. The broker also incorporates a very useful integrated support system for existing clients. There is a knowledge base on the brokers website with a variety of common trader questions and answers.
XBTFX is a broker that is registered by the Financial Services Authority of Saint Vincent and the Grenadines. They are currently in the process of improving regulations so make sure you check the latest on that from the official XBTFX website. XBTFX cannot provide online trading services to clients in some countries including the United States of America, Belgium, Iran, Syria, North Korea and Sudan.
XBTFX Review Summary
XBTFX offer traders competitive conditions for online trading in various asset classes on the powerful MetaTrader 5 platforms for multiple devices. They are primarily a crypto focused broker which would make them a popular choice amongst those who are familiar with how cryptocurrencies work. In addition to a modern trading environment, they also provide clients with educational resources and dedicated support. It would be nice to see them improve their regulation in the not so distant future, if they haven’t already whilst you are reading this XBTFX review.
- The powerful and intuitive MetaTrader 5 (MT5) platform
- Plenty of trading tools in the MT5 platform
- Over 200 tradable instruments to choose from
- Unique "STP Lock" feature
- Educational resources
- No minimum deposit
- Flexible leverage & account types
- Cryptocurrency accounting & trading
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.