XLtrade Review

XLtrade is a proprietary trading firm that offers traders a chance to trade the financial markets without having to put their own capital at risk. The company is owned and operated by Chimara Ltd, a company based in the British Virgin Islands. The firm provides traders with access to multiple markets, including equities, futures, options, and forex. In this review, we will take a closer look at XLtrade and evaluate its features, strengths, and weaknesses.

XLtrade Review
XLtrade Review

Trading Platform and Tools

XLtrade provides traders with access to the most popular trading platforms, including MetaTrader 4, WebTrader, and a proprietary trading platform. The proprietary platform is well-designed and easy to use, with advanced features that allow traders to analyze the markets, place trades, and manage their positions efficiently. The platform offers a wide range of trading tools, including charting software and technical analysis tools, news feeds, economic calendars, and more.

Trading Conditions

XLtrade offers traders a competitive trading environment with low commissions and tight spreads. The firm offers a range of trading accounts, including a Standard account, Pro account, and Elite account. The minimum deposit for a Standard account is $10,000, while the minimum deposit for a Pro account is $50,000. The Elite account requires a minimum deposit of $100,000. Traders can also choose from a range of leverage options, with the maximum leverage being 1:100.

Trading Education and Support

XLtrade offers a range of educational resources to help traders improve their skills and knowledge. The firm provides traders with access to trading guides, tutorials, and webinars, which cover a range of topics, including technical analysis, risk management, and trading psychology. Additionally, traders can access a dedicated account manager who can provide personalized support and guidance.

Risk Management

XLtrade takes risk management seriously and provides traders with a range of tools to manage their risk effectively. Traders can set stop-loss orders, take-profit orders, and limit orders to help them manage their positions. Additionally, the firm offers negative balance protection, which ensures that traders cannot lose more than their account balance.


Regulation and Security

XLtrade is not regulated by any financial regulatory authority, which may be a concern for some traders. However, the firm has implemented robust security measures to protect its clients’ funds and personal information. The firm uses SSL encryption to protect its website, and client funds are held in segregated accounts to ensure they are not used for any other purpose.

Pros & Cons

Pros

  • XLtrade offers traders access to multiple markets and a range of trading instruments.
  • The firm provides traders with a well-designed and easy-to-use trading platform.
  • XLtrade offers competitive trading conditions, with low commissions and tight spreads.
  • The firm provides traders with access to a range of educational resources and personalized support.
  • XLtrade takes risk management seriously and provides traders with a range of tools to manage their risk effectively.

Cons

  • XLtrade is not regulated by any financial regulatory authority.
  • The minimum deposit for a Standard account is relatively high, at $10,000.
  • The firm does not offer a demo account for traders to practice trading without risking their own capital.

Conclusion

XLtrade is a well-established forex prop trading firm that offers traders a chance to trade the financial markets without having to put their own capital at risk. The firm provides traders with access to multiple markets and a range of trading instruments, along with a well-designed and easy-to-use trading platform. While the firm is not regulated by any financial regulatory authority, it has implemented robust security measures to protect its clients’ funds and personal information. Overall, XLtrade is a solid choice for traders looking to get a funded forex account to trade the financial markets on a prop trading basis.

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