Founded in 2014 and acquired in 2021, BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. With over 60 brokers reviewed, our editorial team has published thousands of words of research to help our readers make informed choices. Xtrade’s mobile trading apps are average and may not offer the comprehensive functionality that some traders require. This makes it a less attractive choice for traders who rely heavily on mobile trading. Overall, Xtrade is a is xtrade legit trustworthy and reliable broker that provides traders with ample digital tools. Xtrade provides trading through the Xtrade Webtrader platform which is its own in-house trading platform trade is the operating body of Xtrade.AU Pty Ltd. with an Australian Financial Services license.

Account Types

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Leverage is a unique opportunity to magnify trading potential using the tool of multiplier. However, every trader should remember that leverage can work both for you as well as against you, so you should be cautious when using it and learn more about how to use the tool smartly. However, the FSC, being an offshore regulator, is often viewed as less stringent compared to other prominent authorities.

XTRADE Customer Support

This means that the level of investor protection provided may not be as robust as with brokers licensed under stricter jurisdictions. The broker Xtrade, first known as XFR Financial Ltd, was established back in 2003. Currently headquartered in Belize, XTrade offers traditional trading through CFDs on Shares, Commodities, Forex, Indices, ETFs, and Bonds. So many assets and asset classes here, i was kinda lost in choosing what to trade here🤣 The platform is good, but im not a big fan tho, im used to mt5 at this point. Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com.

Yes, XTrade is a legitimate broker regulated by the Belize Financial Services Commission (FSC), ensuring compliance with international financial standards. If you want to compare XTrade with other forex brokers in more detail, go to the Forex Brokers Comparison page. One user reported problems in communication with the company after losing a significant amount of money.

Our platform is free for users, earning commissions from some partners without extra cost to you. All materials and information provided by 100brokers are based on our proprietary, unbiased professional methodology, designed in the best interest of our users and independent of our compensation structure. At this point I can be confident in the safety of my funds and the probability of their bankruptcy I think 0% percent. By the way, I was surprised to find out that they provide bond assets for trading and it is admirable of them.

Pros & cons of Xtrade broker

You can control your Equity by depositing or withdrawing funds and you are able to control your Total Position value by opening or closing positions. You can view your Equity and other important information under the My Account Bar on the left side of the Main Page. Before deciding to join a broker and start trading, a potential trader needs to establish whether a broker like Xtrade is safe to trade with. On the company’s website, it is not indicated in what currencies accounts can be funded.

More Forex Guides

• He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.
• Our platform is free for users, earning commissions from some partners without extra cost to you.
• Also, Xtrade’s regulatory status might not provide the same level of oversight as top-tier regulators, which could be a concern for those prioritizing safety and transparency.
• All BrokerNotes content is researched, fact-checked, and edited by the research team.

If you have traded with XTrade we would really like to know about your experience – please submit your own review. There are also daily market analysis videos uploaded both to their website and YouTube channel plus calculator tools available for Pivot, Fibonacci and deal size calculations. There is a maximum deposit limit of $15,000 for payment cards, though there is no limit on wire transfers. Traders can use tens of domestic e-wallets and payment providers, including UnionPay and Neteller, each with their own maximum deposits. The CFD investment broker is owned by XTrade Group Limited and is headquartered in Limassol, Cyprus.

Xtrade does not offer third-party platforms like MetaTrader, focusing solely on its proprietary solutions for desktop, mobile, and tablet trading. Xtrade offers its proprietary trading platform, Xtrade WebTrader, as its primary trading interface, along with dedicated Mobile and Tablet Trading Apps. These platforms are designed to provide users with an intuitive and seamless trading experience. The WebTrader is accessible directly through a web browser, eliminating the need for any downloads or installations. The VIP Account is Xtrade’s top-tier offering, aimed at high-net-worth individuals and professional traders.

• Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets.
• In an era of rapidly changing financial and trading environments, education plays a vital role in a trader’s success.
• Its focus is primarily on Forex trading and a variety of CFD products, which are speculative instruments.
• In compiling our review and assessment of the XTrade broker, we relied on our unique methodology, developed explicitly for analyzing and comparing brokerage firms.
• The broker operates on a fixed spread model without commissions, which may appeal to traders who prefer straightforward pricing.
• It requires a minimum deposit of $250 and offers fixed spreads with an average of 2-5 pips for popular Forex pairs like EUR/USD.

Spreads and Leverage

To open an account with XTrade, visit their website, click on the “Open Account” button, and follow the registration process by providing the required information and verifying your identity. After filling out the form, it is necessary to enter the personal account and change the automatically generated password before starting trading. Xtrade has already appealed the decision to the Administrative Appeals Tribunal of Australia (AATA) with a stay application that was subsequently refused. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. All information on 55brokers.com is only published for general information purposes.

Is XTrade a safe broker?

This average customer rating is based on 21 XTrade customer reviews submitted by our visitors. Please note, some markets may only be available via CFDs or other derivatives. Compare XTrade with the top 3 similar brokers that accept traders from your location. The broker has several identity theft and credit card safeguards in place, all of which undergo regular reviews. The website also uses True-Site identity assurance and complies with AICPA WebTrust assurance standards.

However, several drawbacks exist despite the absence of deposit and withdrawal fees on many payment systems. The inability to use cryptocurrencies may limit options for some investors. Moreover, the processing time for withdrawal requests of up to 5 business days is a significant disadvantage, especially compared with other brokers in the market. XTrade stands out with its wide range of deposit and withdrawal methods, a comprehensive array of markets and trading products, as well as a variety of analytical tools. The broker is equipped with an extensive learning center, making it appealing to novice traders who want to expand their knowledge and improve their trading skills.

There is a detailed glossary with over 90 Forex and CFD trading terms and their definitions. Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. As with currency exchange markets, commodity markets offer trading in contract-based tradable goods. Some companies provide their own proprietary platform, while others prefer well-known platforms. If there is a choice, the trader should keep in mind what he would like to trade. Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss.