XTrade Review

Reviews about the company. Already working with a company? Share your experience of cooperation with the rest by posting a review about the broker.View all "XTrade" reviews

About company

XTrade is one of the most popular brokerage companies. During its existence, the broker has achieved a high level of client service. The company provides reliable trading instruments.

Broker reliability

The company is officially registered in Australia, therefore, it is tightly controlled by the local authority. Australia’s financial regulator is known for its high requirements for Forex brokers. One of the important conditions is the availability of equity capital and its constant maintenance.

The company also has a branch, which is open in Cyprus. The regulator of this country operates in accordance with the laws of the European Union. It strictly monitors the fulfillment of obligations by the broker before the clients. Also, one of the broker’s companies is registered in Caribbean Belize.

Registration

Creating an account on the company’s website is practically no different from most registration procedures. The client is required to enter the first and last name, email address, phone number without country code, which is automatically determined by the system.

After filling in all the data, the trader immediately enters the personal account. The company notifies the client about the creation of a trading account, the details of which are sent in a letter to the specified email address. Also, along with the letter, the client receives a welcome bonus.

Trading Opportunities

The brokerage company offers a wide range of different trading instruments that are suitable for both beginners and experienced traders. Broker’s clients can use:

• Currency pairs
• Commodity futures
• Stocks and indices of various countries.

The broker offers fairly low spreads. Also, experienced traders and specialists in the trading sphere note that XTrade gives the best quotes.

Leverage reaches 1:400. This ratio is high as the risk increases. However, it is worth noting that some brokerage companies registered in Cyprus offer much higher spreads.

The brokerage company focuses on both Forex trading and CFDs.

Trading platform

The broker’s clients are encouraged to use a platform that the company has developed independently for trading. Traders can choose either the mobile version or the regular web.

The broker platform has a practical and intuitive interface. Traders of various levels can easily use the service. The broker provides a large list of tools and functions, including various charts, analyzes, statistics. When placing an order, traders can apply several variables that allow them to make a profit with minimal losses.

Deposit and withdrawal of funds

To make a deposit and withdraw funds, the broker offers several payment systems:

• Bank cards and transfers
• Electronic wallets.

The withdrawal of the funds is carried out based on the details that were used to make a deposit to the account. At the same time, the company indicates that the withdrawal amount exceeding $150 can be withdrawn in any way that the broker approves. The company’s rules state that it takes up to 5 business days to withdraw funds. The timing depends on the chosen payment system.

Trading accounts

Traders are offered 4 types of trading accounts:

• Standard
• Premium
• Platinum
• VIP

The difference between the accounts is in the amount of the minimum deposit, commissions, and fixed spread. It should be noted that the broker does not provide floating spreads to its clients. Quotation accuracy includes 4-digit quotes. The streaming method is selected for order execution.

VIP clients get some benefits. They can use the services of a personal manager, receive more training materials. There are other benefits also available to them:

• Special offers, bonuses, promotions
• Discounts on spreads
• Special trading conditions
• Valuable gifts from the broker.

A demo account is available for beginners, which allows you to study the trading platform and its tools, and work out various strategies.

Bonuses

The brokerage company has various promotions and bonuses. The broker offers beginners several types of welcome packages with rewards:

• 20-60% bonus for the first deposit, which should be used within a month
• 20 bonus dollars for reaching 300 XPoints within a month
• An incentive for the first completed transaction.

Technical support

Client support staff work around the clock, seven days a week. You can contact the operators using:

• Online chat
• An ordinary call
• Email

The technical support staff is fluent in 6 languages. Depending on the situation, managers can directly communicate with the client, giving explanations, or referring you to the settings, where you can get acquainted with the functionality of the system, training materials. The broker has posted various examples of the use of popular trading tools on the website.

Education

The broker gives its clients the opportunity to undergo training in their own academy or educational center, where various videos, books, and other materials that are suitable for both novice traders and professionals are available.

Company advantages

The broker’s focus is on Forex and CFDs gives traders the opportunity to make their ambitions come to life and develop their own trading methods. The main advantages of the broker include:

• Extensive experience in trading on the markets
• Availability of a demo account
• Large selection of various training materials
• Professional technical support
• Availability of detailed reviews and market analytics
• Protection of funds in the account and all ongoing financial transactions
• Own functional trading platform
• Support for the mobile version.

The company cares about its clients, therefore, it regularly improves the system, functionality, and expands trading opportunities for clients of various levels.