Xtrade is CFD and CySEC-regulated forex broker. Which helps you to decide whether to open an online account for trading, this will (review) explores the platform of broker’s with mobile app, minimum deposit, payment methods and many more functionalities.
XTrade Company Overview
The CFD investment broker which is owned by XTrade Group Limited and is headquartered in Limassol, Cyprus. The company has several daughter brands, with include of XTrade Europe Ltd. Moreover, the broker was founded in 2003, has 15 offices worldwide, and it is registered with over 10 regulatory agencies, including in Cyprus, the Philippines, Malaysia and the UAE. It does not, however, provide services to the UK, Canada and some other countries.
XTradeWebTrader Platform
The proprietary web platform requires no download or installation. From the login page, the design is intuitive for the newcomers while the effective trading tools which have helped the platform pick up with multiple awards. It is accessible in 11 languages and offers 12 technical indicators, 4 chart styles, 9 time periods, and 17 analysis tools. And There is also an integrated economic calendar, news thread and a signal service for better information.
Assets & Markets
It has far more than 200 online CFD and FX instruments are available, including:
- 56 forex pairs – 19 majors, 9 minors, & 28 exotics
- Commodities – Precious metals & energies
- Stock indices – Eight global stock indexes
- Shares – Close to 200 company shares
XTrade also offers a handful of ETFs.
Spreads & Commissions
XTrade uses with zero commissions fee structure, only taking money from spreads. Spreads are variable.
Some user complaints about highlight the $50 inactivity fee charged to accounts dormant more than 3 months. Overnight premiums, or swaps, are charged for positions which are held open after 22:00 GMT.
Leverage
The leverage levels for indices range from 1:20 to 1:200 and the commodities up to 1:10, forex twofold can be leveraged between 1:50 and 1:400 and stocks up to 1:5. Retail traders in EU-regulated markets (European regulated market), such as Germany, are capped at a leverage of 1:30, as per ESMA regulations.
Mobile Apps
Xtrade is also available on the google play store is Called ‘XTrade Online Trading’, the mobile app is easily installed, along with responsive user interface and much of the capability provided by the web-based platform.
The application allows single-touch trading with live prices, charting options, analysis tools, popup and account funding options.
Many of the additional tools, such aseconomic calendar and Auto chartist signals are also available on the mobile platform and receive good reviews.
Payment Methods
XTrade offers a plethora of payment methods that vary for clients from different countries. All clients offered Visa and MasterCard payment card options along with bank wire transfers.
There is a maximum deposit limit of $15,000 for payment with cards, yet there is no limit on wire transfers. Thus, Traders can use tens of domestic e-wallets and payment providers, including UnionPay and Neteller, each of them with their own maximum deposits.
There is a minimum of deposit of $250 to pay, though this can be reduced during promotional events.
Withdrawals must be made by using the same method as the deposit. However, if a deposit was made by an e-wallet, then withdrawals can be processed via bank transfer, Skrill or Neteller.
Demo Account
There is a fully equipped online demo account which is available to current and prospective clients, allowing traders to having a taste for forex and CFD trading on the platform.
Additional Features
XTrade offers several extra featuring to its clients. There is a well famed economic calendar and news stream which can be accessed via the website or through the platform.
There are extremely useful daily market analysis videos uploaded both to their website and YouTube channel plus calculator tools available for Fibonacci and deal size calculations and Pivot calculation also.
The XTrade website also comes along with an education center that has a range of tools geared towards novices and those with years of experience. The center covers the generals of the platform and charting to trading strategies and market analysis through tutorials, online courses, e-books, PDFs, and a blog. There is also a costly glossary to help traders cut through any unfamiliar jargon.
Benefits
- Award-winning trading platform
- Global licensing and regulation
- Daily market analysis videos
- Range of payment options
- Auto chartist signals
- No commissions
Drawbacks
- No cryptocurrency & Bitcoin trading
- No automated investing capability
- No Islamic account option
- No social trading
- No MetaTrader
- Wide spreads
Trading Hours
The trading hours for the instruments supported by XTrade are 21:00 GMT Sunday to 21:00 GMT Friday and 22:00 GMT Sunday to 22:00 GMT Friday during winter months. Some instruments may have more limited trading hours, the details can be found in the website’s CFD information list
Accepted Countries
Xtrade available in the 15 countries worldwide except some countries that are not included in the list of trusted authority as in Xtrade Compliance.
