Xtrade is an online forex and CFD broker that offers online trading solutions to traders. They provide online trading services on over 500 trading instruments across different asset classes, including forex, stocks, commodities, indices, cryptocurrency, bonds, and ETFs, via modern trading platforms. The broker offers only fixed spreads, no commissions, and fast execution speeds. Xtrade was founded in 2003 and has a head office in Cyprus.
Xtrade Review Introduction
In this Xtrade review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Xtrade.
Xtrade Platforms & Tools
The broker provides clients with their proprietary trading platform, Xtrade WebTrader. The platform has an intuitive user interface and provides access to multiple markets for trading forex and CFDs. Being a web-based platform, Xtrade WebTrader can run directly on every operating system without the need to install any new software.
Clients are also provided with the Xtrade online trading platform, which is the mobile app version for iOS and Android devices. It allows traders to place trades and manage their accounts while on the move. The apps can be downloaded and installed from the relevant app stores.
Xtrade also provides traders with essential trading tools such as Xtrade Blog, which has frequently updated financial news; Autochartist Market Analysis, which scans the markets and alerts the trader of a trading opportunity; Financial Calendar, Market Trends, and Bull/Bear Market Sentiment.
Xtrade Research & Education
Xtrade provides traders with a good range of educational materials. The education center on the website has some video lessons geared towards beginner traders — there are 11 video lessons that focus on the basics of forex, Bitcoins, technical analysis, indicators, and cryptocurrencies. A glossary of over 90 forex and CFD trading terms and their explanations are also available in the education center.
Xtrade Trading Accounts
Xtrade offers clients a variety of trading accounts to suit every individual trader’s needs. The available accounts and their minimum required deposits include:
- Standard Account ($250)
- Premium Account ($1000)
- Platinum Account ($5000)
- VIP Account (20,000)
The maximum leverage is 1:400 for all account types, while the spread ranges from 2-5 pips for the benchmark EURUSD.
Xtrade Account Funding
The following payment methods are available at Xtrade: bank wire transfer, credit/debit card, online payments, and online bank payment solutions from various banks or payment processors. The broker does not charge deposit and withdrawal fees. The transaction processing time depends on the payment method used.
Xtrade Customer Service
Xtrade offers a multilingual client support desk that is available 24/5. They can be reached via email, phone, and instant web chat. There is also a FAQ section on the broker’s website, which gives answers to clients’ frequently asked questions.
Xtrade is regulated in multiple jurisdictions as follows:
- Xtrade Europe Ltd is registered in Cyprus with the registration number: 248449. It is regulated by the Cyprus Securities and Exchange Commission (CySEC). The license number is 108/10.
- Xtrade is regulated by the Australian Securities and Investments Commission (ASIC). The registration number is ACN: 14089987 and the license number is AFSL: 343628.
- Xtrade International Ltd is regulated by the International Financial Services Commission (IFSC) of Belize. The license number is IFSC/60/383/TS/19.
Xtrade Review Summary
Xtrade is a well-experienced and regulated online trading broker. They provide access to over 500 tradable instruments via their proprietary web and mobile trading platforms.
It is worth mentioning that some of the trading products and services in this Xtrade review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Xtrade broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.