XTRADE Review (2020): Scam Update, what is xtrade.
What is xtrade
Yes, xtrade is a market maker and all executions take place in house. This means that clients are betting against the house.
Top forex bonus promo
XTRADE review (2020): scam update
Is xtrade a scam? A real xtrade review
Is xtrade legit? Are they regulated? This xtrade review will answer these questions and more while clarifying if xtrade is a forex scam.
Is xtrade a regulated forex broker?
Xtrade is regulated by the cyprus securities and exchange commission. They are also registered as a cyprus investment firm and are therefor covered under the investor compensation fund (I.C.F). This means that if the forex company goes bankrupt, clients are guaranteed their invested funds up until €20,000.
Xtrade is regulated by the cyprus securities and exchange commission (cysec) under the name xtrade europe ltd. This means that they are authorized to provide services throughout the EU.
However xtrade.Com is not covered under this regulation. The only approved xtrade owned domains that are regulated by cysec are offerfx.Com and offersfx.Eu. This means that if you’re trading on an xtrade website, they are not regulated.
Xtrade europe has previously used the names XFR financial ltd. And O.C.M. Online capital markets ltd.
It’s important to note that despite any claims otherwise, xtrade is not and never was regulated by the FCA . Xtrade australia has been flagged by the australian securities and investments commission (ASIC) as well as the british columbia securities commission (BCSC).
Is xtrade regulated in australia?
Xtrade is regulated in australia by the australian securities and investments commission. This means that australians citizens are offered a certain level of protection when trading with them.
If you’ve been scammed by xtrade, you can get your money back. Contact us here.
If you’re a client of xtrade and you are certain that you have been treated in a way that is highly questionable, you are likely being scammed.
Be wary of recovery scams targeting xtrade clients. There are methods of getting money back from xtrade. We can advise you on what’s possible and what’s just another scam. Contact us.
Is xtrade legit?
Xtrade is known to deny their clients withdrawals. For this reason alone xtrade is a scam.
There are additional red flags that indicate that xtrade should not be trusted which we’ll cover below.
What is xtrade?
Xtrade is an offshore forex broker that offers forex and CFD trading services. They were established in 2003 and are registered in belize at no.5 cork street, belize city, belize. C.A. Where they also claim to be located. They have additional offices in cyprus, israel and australia.
If one chose to visit them to try and get their money back, it’s likely that a trip to their registered location would be in vein, as most belize based forex brokers are actually scams and don’t have a physical operation anywhere in the country.
You might be more likely to find their offices here.
If they are located in belize should I trust them?
It would make sense to conclude that the reason that xtrade is located in belize is because they are a scam. Many forex scams choose belize as their location to register. We’ve covered this topic in other articles but to put it simply, belize is a haven for individuals who look to open up companies without having to identify who they are or be held accountable for their business practices.
The fact that they are registered and claim to be located in a country that is fraught with corruption and well known for being a money laundering hotbed, is enough to label them a scam. But why stop there when there’s more?
Before we do so, and for the sake of covering all things xtrade, let’s have a quick look at their platform and offerings.
What services do they offer?
In terms of services, xtrade offers 1:400 leverage on over 150 CFD’s, 51 currency pairs in addition to bitcoin, 74 stocks, 12 indices to choose from and 13 commodities. They have the lowest minimum deposit in town at $100 USD (or $1 USD according to some clients) and they do not charge commissions or hidden fees.
The trading platform – xtrade website and app review
The xtrade website is designed with state of the art graphics and is optimized to suit their global client base and convince even the most suspecting individual of their legitimacy. They use their own proprietary trading platform which is available as a web application and a mobile app for both android and apple devices.
Account management and types
The xtrade website doesn’t officially state that they offered managed accounts, however many reports have told us that there is account management taking place.
As far as actual types of accounts, unlike most of their competitors, xtrade does not offer different account options. This is unusual to find with a scam broker. The sales processes used in the forex fraud industry is heavily bolstered by a method of funneling individuals through different accounts. You can read more about how that works here.
Is xtrade a market maker?
Yes, xtrade is a market maker and all executions take place in house. This means that clients are betting against the house. What’s even more concerning is their usage of a proprietary platform. Combine this with their lack of regulation makes for a “do whatever you want” environment.
Payment options
Xtrade is exceptional when it comes to funding your account. They offer a wide variety of payment options on their website, these include visa/mastercard, and over 60 other methods of payment. They make it very easy to find what methods of deposit are available with their country drop down menu. Many of the options of deposit are geared towards their south american clientele.
Withdrawal policies
When it comes to withdrawals, this company has a bit of a lengthy process. According to their policies, three conditions are required to process a withdrawal.
- A government issued ID or passport
- Proof of address
- Assessment of appropriateness
In addition to the above, the website states that withdrawal requests can take up to five business days, or in extreme cases, up to 3 weeks! That kind of policy could be considered a scam even if xtrade wasn’t a proven scam broker. This is also something you won’t find on your average xtrade review.
Most financial service providers allow you to simply press a button. Xtrade provides that button as well, however be prepared for a lengthy withdrawal process that eventually leads to not receiving any funds and the clear conclusion that xtrade is a scam.
The rule of thumb with forex scam companies is; withdrawals are granted as a tool that the broker uses only in order to earn the clients trust so that they will deposit more money. This is certainly the case with xtrade. If one does manage to make a withdrawal, they can get ready for the broker to ask for a lot more money on the next call.
Xtrade online reviews – what the customers are saying.
Online reviews are not always what they seem to be, especially in the forex industry. However there is often enough material available to sort the wheat from the chaff. In this case, it’s not too difficult.
One thing we know regarding sites like trustpilot. A company has the right to dispute a negative review. If the reviewer can’t provide proof of their experience, then the negative review is removed. Here’s an example of an online review from january of 2018 that has not been removed, it relates to the withdrawal policies that we mentioned above.
Unfortunately, we have to assume that anne never got her money back.
It even seems like google agrees that xtrade is a scam.
Forex peace army (FPA) review of xtrade
These website used to be a very reputable one but has recently experienced on onslaught of fake reviews. We’ve still seen efforts by FPA to maintain integrity. Recent choices of sponsored ads on their site have lead us to second guess what’s really going on. The overall rating of a company is something that can be used as a general reference to a company’s standing.
Here’s how they grade the subject of our review.
How about their customer service?
Thinking that customer service actually exists at a company like this one is a mistake in it of itself. The fact that an online review website awarded them the 2017 best forex customer service award just tells us a little bit about the standards of that website.
Customer service is something earned and in the case of xtrade here’s how the clients feel.
It would seem that martin from the UK who lost his money to this company puts it into the most eloquent way possible as he says in his review, “DO NOT trust these liars with a single penny.
Proof of the scam
In essence, xtrade has not done anything that we haven’t seen over and over again in terms of being a scam broker. Their history with regulators is only one of the many damning factors. This is a company that while it still did have regulation was directly partnered with xforex, another infamous unregulated forex scam. However in addition to all of the above factors, the very complaints that clients have made to us regarding xtrade and the consistent nature of these reports is enough to know that this company is up to no good.
Conclusion
While xtrade made efforts early on to attain regulation and paint itself as a worthy broker. The reports are out and it’s clear from their lack of regulation and insistence on not returning their clients funds that xtrade is a scam.
If you’ve been burnt by xtrade and you want to get your money back, report your case to us here. We’ll tell you how you can get your money back.
We’ll also contact you if a criminal investigation takes place and if a class action lawsuit is pursued.
Getting your money back.
There are two possible ways to get your money back from a company like xtrade and they don’t apply to all situations. We can tell you where you stand in terms of possible recovery of your funds and what to lookout for.
Xtrade review – is it a scam or legit broker (2021)
In this xtrade review, we are going to take a look at the offer that this broker prepared for its traders. Xtrade operates on the financial market since 1995. When it comes to trading platforms, the broker features xtrade webtrader and webtrader. The xtrade minimum deposit is 250 USD.
Between 74-89% of retail investor accounts lose money when trading cfds. You should consider whether you can afford to take the high risk of losing your money.
Basic information from this xtrade review
| website address: | xtrade.Com |
| operated by: | xtrade international ltd |
| licensed and authorised by regulatory bodies: | IFSC |
| supported languages: | english, german, spanish, french, italian and portuguese |
| customer support available via: | E-mail, phone, live-chat |
| contact details: | [email protected], 1800 017 5700 |
| available deposit methods: | bank transfer, VISA, mastercard, alipay, astropay, boleto, BPAY, cartão mercado livre, CASHU, ecopayz, elo (brazil), epay (epay.Bg), EPS, fasapay, giropay, halcash, ibank&banklink, ideal, itau, JCB, jeton, moneta.Ru, multibanco, neosurf, oxxo, pagoefectivo, pagofacil, payu, poli, przelewy24, PSE, qiwi, rapipago, sofort, teleingreso , toditocash, unionpay, vload, webmoney, wechatpay, wire2pay, yandex money |
| available withdrawal methods: | bank transfer, VISA, mastercard, alipay, astropay, boleto, BPAY, cartão mercado livre, CASHU, ecopayz, elo (brazil), epay (epay.Bg), EPS, fasapay, giropay, halcash, ibank&banklink, ideal, itau, JCB, jeton, moneta.Ru, multibanco, neosurf, oxxo, pagoefecti |
| minimum deposit: | 250 USD |
| min. Trade in lots: | 0.01 |
| spreads: | minimal spread on the currency pair EUR/USD - 0,5 pips * on standard account type |
| tradable assets: |
The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with.
For instance, in the european union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in australia and possibly in other jurisdictions.
Xtrade fees (minimal spreads)
We have scanned fees (minimal spreads) that xtrade charges when trading popular currency pairs, here is their breakdown in pips.
*minimal spreads were recorded on 17.09.2020 at 09:39 for the standard account. Xtrade spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.
Random reviews of competing FX & CFD brokers: meritforex, fowfxpro, invertplus and forexbankla
Frequently asked questions
�� is xtrade a scam?
In accordance with our research, xtrade is a broker licensed and regulated by the IFSC. While it is a good thing that the broker is regulated, the IFSC regulatory agency is in comparison to 1st tier regulatory bodies like the cysec one of the weaker regulatory authorities when it comes to investor protection. In order to be sure that xtrade is not a scam, read our trader reviews and check other popular trading related websites and forums.
�� what is the xtrade minimum deposit?
In order to start trading with xtrade, you have to deposit at least 250 USD.
�� what deposit and withdrawal methods xtrade supports?
⚖️ would you recommend me choosing xtrade?
We don’t have our own personal experience with xtrade. However, the broker is regulated by the IFSC which does not provide as strong protection to traders as 1st tier regulatory bodies (like the british financial conduct authority). Considering that there are hundreds of brokers with stronger regulation and quite highly possibly with better trading conditions too, it makes little to no sense to trade with xtrade.
Should you be looking for a highly reliable broker featuring forex trading and cfds, you can get your hands on our marketing broker IQ option – 85% of retail CFD accounts lose money , which is a cysec regulated company that allows trading from as little as $10 and charges highly competitive fees on all assets.
Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading cfds. You should consider whether you can afford to take the high risk of losing your money.
¹ variable spreads, spreads recorded for the EUR/USD on 05.10.2020 at 11:42 GMT.
Xtrade review and tutorial 2021
Go to the brokers list for alternatives
Xtrade is an online FX & CFD broker offering its own bespoke desktop and mobile platform.
Trade on over 50 major, minor, and exotic currency pairs.
Xtrade is a cysec-regulated forex and CFD broker. To help you decide whether to open an online trading account, this review explores the broker’s platform, mobile app, minimum deposit, payment methods, and more.
Xtrade company overview
The CFD investment broker is owned by xtrade group limited and is headquartered in limassol, cyprus. The company has several daughter brands, including xtrade europe ltd. And xtrade international ltd that service clients from dubai to uruguay.
The broker was founded in 2003, has 15 offices worldwide, and is registered with over 10 regulatory agencies, including in cyprus, the philippines, malaysia and the UAE. Xtrade does not, however, provide services to the UK, canada and some other countries.
Xtrade webtrader platform
The proprietary web-based platform requires no download or installation. Even from the login page the design is intuitive for newcomers while the effective trading tools have helped the platform pick up multiple awards. It’s accessible in 11 languages and offers 12 technical indicators, 4 chart styles, 9 time periods, and 17 analysis tools. There is also an integrated economic calendar, news thread and a signals service.
Note, the popular MT4 trading platform download is not available.
Assets & markets
More than 200 online FX and CFD 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 a fee structure with zero commissions, only taking money from spreads. Spreads are variable, for example, GBP/USD spreads can range from 2.5 to 5 pips, EUR/USD ranges from 1.7 to 5 pips and EUR/GBP ranges from 3 to 5 pips.
Some user complaints highlight the $50 inactivity fee charged to accounts dormant for more than three months. Overnight premiums, or swaps, are also charged for positions that are held open after 22:00 GMT.
Leverage
Leverage rates vary up to a maximum of 1:400. The leverage levels for indices range from 1:20 to 1:200, commodities up to 1:10, forex pairs can be leveraged between 1:50 and 1:400 and stocks up to 1:5. Retail traders in EU-regulated markets, such as germany, are capped at a leverage of 1:30, as per ESMA regulations.
Mobile apps
The xtrade platform has also been developed for mobile use with ios and android smartphones and tablets. Called ‘xtrade online trading’, the mobile app is easily installed, with a responsive user interface and much of the capability provided by the web-based platform. The application allows one-touch trading with live prices, charting options, analysis tools, notifications and account funding options. Many of the additional tools, such as autochartist signals and economic calendar are also available on the mobile platform and receive good reviews.
Payment methods
Xtrade offers a wide range of payment methods that vary for clients from different countries. All clients are offered visa and mastercard payment card options as well as bank wire transfers. 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. There is a minimum deposit of $250, though this may be reduced during promotional events.
Withdrawals must be made using the same method as the deposit. However, if a deposit was made using an e-wallet, then withdrawals can be processed via bank transfer, skrill or neteller. Xtrade can take up to five days to process a withdrawal, though it may take longer to reach the target account as some payment providers take extra time to process. There are no deposit or withdrawal fees charged on the part of the broker.
Demo account
There is a fully equipped online demo account available to current and prospective clients, allowing traders to get a feel for forex and CFD trading on the platform. The account uses simulated money and once passed the login page, you can open and close positions at real prices in real markets, meaning there is no risk to capital.
Deals & promotions
At the time of writing there are no welcome or deposit bonuses on offer. However, they do run periodic promotional campaigns and have been known to drop minimum deposits, offer deposit bonuses and even team up with international football star cristiano ronaldo.
Note, always check bonus terms and conditions before you begin account registration.
Regulatory status
Xtrade is a licensed forex broker authorised and regulated by the cyprus securities and exchange commission (cysec) in europe, and several other agencies for its international services. Xtrade international ltd also complies with the international financial services commission’s regulations for worldwide trading.
Clients’ funds are kept segregated from the company’s, meaning that the company’s and clients’ assets are clearly distinguished, providing monetary security to traders. All client accounts are also opened under the investor compensation fund (ICF), which covers traders up to €20,000, should the broker be unable to pay out winnings.
Additional features
As well as their award-winning trading platform, xtrade offers several extra features to its clients. There is a fully populated economic calendar and news stream that can be accessed via the website or through the platform. 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.
The xtrade website also comes with an education centre that has a range of tools geared towards novices and those with years of experience. The centre covers the basics of the platform and charting to complex trading strategies and market analysis through tutorials, online courses, e-books, pdfs, and a blog. There is also an expansive glossary to help traders cut through any unfamiliar jargon.
Account types
Xtrade does not differentiate between traders, offering a single account type for all real money trading. Every trader gets access to the full range of instruments, web and mobile platforms, plus educational centre. This does mean, however, that less favourable spreads can’t be avoided like they can with many tiered account structures.
Benefits
Clients are provided with a range of competitive features:
- Award-winning trading platform
- Global licensing and regulation
- Daily market analysis videos
- Range of payment options
- Autochartist signals
- No commissions
Drawbacks
There are, however, some areas where the broker could improve:
- No cryptocurrency & bitcoin trading
- No automated investing capability
- No islamic account option
- No social trading
- No metatrader
- Wide spreads
Trading hours
The market trading hours for the instruments supported by xtrade are 21:00 GMT sunday to 21:00 GMT friday during daylight saving and 22:00 GMT sunday to 22:00 GMT friday during winter months. Some instruments may have more limited trading hours, the details of which can be found in the website’s CFD information list.
Customer support
The customer support team can be contacted 24 hours a day, 5 days a week via several methods. There is a telephone line that opens at 22:00 GMT on sunday and closes 22:00 GMT on friday. There is also email support and the broker has a large social media presence.
For general enquiries and support, xtrade may be contacted using a live chat function in the lower right corner of their website. The website supports 35 languages and live chat representatives are available in six different languages. The customer support team can be contacted via:
- Email address – support@xtrade.Com
- Telephone contact number – +44 2038074001
The support team can help with a range of queries, from how to delete an account, utilise the platform, or navigate account verification.
To follow the broker on social media:
The company’s head office address in cyprus plus its locations in melbourne, australia, amongst others, can be found on the broker’s website.
Trader security
Xtrade provides a high level of cybersecurity, with 256-bit standard secure sockets layer (SSL) encryptions, provided by comodo, on all transactions and website traffic. 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.
Xtrade verdict
Xtrade is an award-winning provider and a strong competitor versus brokers such as etoro and plus500. Its free signals and well-equipped education centre make it a sensible choice for clients new to trading forex and cfds, in particular. Their over ten years of industry experience is also a good indicator that they’re safe to trade with.
Accepted countries
Xtrade accepts traders from australia, thailand, south africa, singapore, hong kong, india, france, germany, norway, sweden, italy, denmark, united arab emirates, saudi arabia, kuwait, luxembourg, qatar and most other countries.
Traders can not use xtrade from united states, canada, united kingdom.
Is xtrade a legitimate brokerage company?
Xtrade europe ltd. Is licensed and regulated by the cyprus securities and exchange commission (cysec) for services in europe. Xtrade international ltd. Is licensed and regulated by the international financial services commission in belize. We’re comfortable the broker is not a scam.
What is the minimum deposit for an xtrade account?
The minimum deposit required to open an account is $250 while the minimum position size is 0.01 lots.
Is there an xtrade demo account?
Yes, xtrade offers a demo account with all the capabilities and options available with a real money account.
Does xtrade offer a MT4 download?
No, xtrade only offers its own proprietary trading platform designed for browser-based trading. The platform has also been made into a mobile app for ios and android smartphones and tablets.
Can I open an xtrade account in canada or the USA?
No, xtrade does not provide its services to traders in the USA, canada or other countries where its services conflict with local laws. However, xtrade can be used in many countries worldwide, including india, the UAE, australia and uruguay.
Xtrade forex broker broker review
Reviewer : justin freeman
Published: 7th july, 2020.
Broker information
- Company name: xtrade
- Founded: 2010
- Country: cyprus
Platform info
Broker services
- Regulators: wire transfer, credit/debit card, moneybookers
- Minimum deposit: $100
- US clients: no
Featured forex broker
Avatrade was established in 2006 and is located in dublin, ireland. Offering trading services in over 150 countries with offices located worldwide. Avatrade is a forex broker that is committed to providing a safe trading environment and is fully regulated and licensed in the EU and BVI, with additional regulation in australia, south africa and japan.
If you are still trading forex the “old fashioned way” with MT4 and a like-minded broker, then you may have missed out on the many innovations that have hit the market in recent years. Next to binary options, the next fastest growing way to trade has been to go the contracts for differences (cfds) route with a firm like xtrade, which has been in the business since 2010. A spin off from “spread betting”, this straightforward trading regimen involves buying a contract with your broker that will pay off if the market moves in your favor. Your reward is based on the difference between your opening and closing position, the units purchased, and leverage chosen. This genre offers more flexibility, and, for this reason, the forex brokers in this arena have chosen to add stocks, commodities, and indices to the mix to broaden your possibilities and trading enjoyment.
What kind of asset choices, you might ask? With xtrade, you can choose between 52 currency pairs, the lion’s share of them, 21 in number, being exotic pairings that you may not find with your traditional broker. Xtrade even offers a bitcoin pairing for those in the know. Outside of forex, there are nearly one hundred additional asset choices, each with its own bid/ask spread dynamics and minimum margin requirement. Xtrade also provides several illustrative examples to help you understand how to open a position, close it, and deal with risk management issues. There are no commissions involved. The firm makes its revenue via the bid/ask spread and overnight premiums, if applicable. Registration is simple. There is one standard account that comes with a free demo account for practice. The demo account is subject to first deposit. Welcome bonuses range from 20% up to 60% and can be more, if you deposit more than $10,000. Terms and conditions for bonuses: the bonus amount is added to your account when you have traded the amount of xpoints to make you legible for the bonus. Every asset will reward different amounts of xpoints. One deposit bonus per household. The bonus will expire within 30 days of initial deposit if the trader does not reach the required xpoints within the time frame.
Since cfds are such a different trading instrument, xtrade developed its own version of webtrader to support their online transactions. No downloads are required, and they also support a number of mobile apps for traders on the go. The firm is headquartered in cyprus and derives its licensing and authority to operate from cysec. With xtrade, your deposits are segregated from operating capital and protected further, up to 20,000 euros, by the investor compensation fund in cyprus. Xtrade is operated by xtrade europe ltd, which is regulated and licensed by cysec under the license number 108/10. Unfortunately, U.S. Clients are not accepted at this time.
Features
Why trade with xtrade.Com? The firm lists these reasons:
- Founded in 2010 by industry professionals with diverse experiences in the brokerage industry;
- Regulated by cysec;
- Client deposits are segregated for safety purposes and protected further up to 20,000 euros by the investor compensation fund in cyprus;
- Standard account and a free demo account upon registration – customization may apply if more than $10,000 is deposited, demo account is subject to first deposit;
- More than 150 CFD asset choices, including currency pairs (51 plus bitcoin), stocks (74); indices (12); and commodities (13);
- Trading platform is proprietary, online only, and requires no downloads;
- Mobile apps are also available;
- No commissions charged – xtrade is compensated for its services through the bid/ask spread;
- Trading support includes professional charts, technical analysis tools, alerts, and training provided by customer service reps;
- Customer service reps are bilingual and accessible “24/5” via live chat, email, or direct phone.
Spreads and leverage
Spreads and leverage are published on the website for every asset choice. Each asset has its own individual criteria. Xtrade is compensated via the bid/ask spreads, which do vary by asset, and margin requirements are also stated separately. Margin calls can be a possibility with cfds, if the market moves abruptly against you. Risk warning: trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
Platform
Processing cfds requires an entirely different back office and software protocols. To accommodate its needs in the most effective manner, the management team at xtrade chose to develop its own proprietary trading platform. It has the look and feel of other online systems, is user-friendly, and allows one-touch access to open positions, asset choices, history, and trading tools. No complex downloads are necessary, and mobile applications complete the platform possibilities. For security and safety purposes, all personal information and trading session data are encrypted using the latest in 256-bit SSL technology. Hackers will not ruin your day with this broker.
Deposits and withdrawals
Xtrade offers nearly 40 different ways to deposit funds, $100 being the minimum amount required. In addition to credit and debit cards and banking wire transfers, they support a host of ewallet and domestic payment provider alternatives. Withdrawals must follow the same deposit route, per law, and withdrawals will be a snap, as long as AML documentation is in order, once again as per international law.
Beginner’s and customer support
Customer service representatives are available “24/5” and can be accessed via live chat, direct phone, or email. The reps speak six languages, and the website supports 16 languages. Account managers can address your queries directly or guide you through set up, system familiarization, and training education, if necessary. The website is full of helpful examples that explain how spreads, leverage, and risk management tools apply.
Conclusion
Trading cfds is one of the newer trading methods to hit the forex market in recent years, and with any innovation, it helps to be with a pioneer in the genre that has years of experience at its craft. Xtrade has been at it since 2010, with an experienced management team from the brokerage industry. They have cysec as regulator for EU. If you want to try out cfds, then xtrade is worthy of your consideration.
Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.
About the author : justin freeman
Justin has twenty-two years' of experience working in the financial markets with brokers. He's held trading and risk management positions at boutique asset managers and large investment banks. Justin helps people understand their trading options in a clear, jargon-free manner.
XTRADE review
In this review, we will describe why XTRADE is a scam that you should avoid at all cost !
Is XTRADE legit?
XTRADE is an unregulated broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why XTRADE is a dangerous broker to deal with.
Are funds safe with XTRADE ?
With such lack of information and XTRADE being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is XTRADE is withholding vital information to users.
XTRADE could go bankrupt from one day to another since there are no banking information about this broker.
Fill out the form below and get a FREE consultation today. (if you lost more than $5,000, please use the chat).
XTRADE review: our conclusion!
XTRADE is an unregulated broker to avoid at all cost. If you have been scammed, check out our chargeback process here or get a free consultation by a team of expert by clicking here.
XTRADE scam review
Have you been scammed by XTRADE ?
XTRADE is an unregulated broker to avoid at all cost. If you have been scammed, check out our chargeback process here or get a free consultation by a team of expert by clicking here.
14 thoughts on “XTRADE review”
I am just sick of hearing from bitcoin. They c n stop calling me after all they got my money now and i wish them all the best scamming people of there hard earning money. Whatever you do dont trust bitcoin. You dont know if you will ever see your money again. People will do snything and everything today to get money out of you not thinking this persons worked hard for her /jis money and here i come and take there food from there table. I am so angry but i will never trust bitcoin ever again. Cfreserve scamming people and then they have the nerve of calling you again. People watch out for the scmmers.
My broker whatsup me on friday 06/12/2019 and the message read ” denmark 20 sell TP1103.23. SL 1130.00. I already had a trust issue with him because he gave me a wrong indication to trade costing me $2000. He said that I must trust him and daily ask me to put more money. Well long story short I sell and waited to see what happened with the market. When I see it went against me I tried to get hold of him with NO success. Well it went all the way bullish till 1127.16 and stopped me out while I still had $591.96 in my account. He said to me because some spread I never heard off bullshit and made if it is my problem. Why was I stopped out when I still had money in my account? Or why did it stop me out when it didn’t reach my SL of 1130.00. I am going to consult with my lawyers as I take that as theft.
Xtrade review - is it scam or safe?
RECOMMENDED FOREX BROKERS
Trading accounts
| Account type | minimum deposit | minimum trade size | maximum leverage | spreads | trading platform |
| standard | $100 | 0.01 | 1:400 | fixed, 2 pips on EUR/USD | xtrader pro |
Xtrade offers its clients a single universal account type with fixed spreads and leverage of up to 1:400 on its proprietary web-based platform xtrader pro.
At present, the broker does not offer the most popular metatrader 4 (MT4) platform. Account management services are not available either.
Meanwhile, xtrade offers exceptional training options via its education center and xtrade academy, where you may find tutorial videos, e-books and other resources suitable for both beginner and professional traders.
The company
Xtrade offers trading in forex, commodities, indices, shares and cfds on its in-house platform. The brokerage’s head office is located in cyprus.
Xtrade is a brand operated by xtrade.Europe ltd., which is authorised and regulated by the by the cyprus securities and exchange commission (cysec).
Xtrade group complies with international regulatory standards and also operates via units regulated in australia (by ASIC), belize (by IFSC) and south africa (by FSB). What is more, in july the broker joined russia’s self-regulatory organization NAFD (former CRFIN) and said it will apply for a russian license.
In addition, xtrade is one of the forex brokers that advertise through sport, namely has a contract with the famous footballer cristiano ronaldo.
Security of funds
Cysec applies certain rules and requirements to cyprus investment firms. For instance, they must maintain net tangible assets amounting to at least €730,000 in order to prove their good financial standing. Furthermore, the cypriot watchdog requires forex brokers to keep customer funds in segregated accounts, separated from the company’s operating funds.
As a further guarantee to clients’ funds, all cysec-regulated companies are members of the investor compensation fund, which is able to pay compensation up to 20,000 EUR, if the company becomes insolvent or discontinues operations.
Additionally, every cysec-regulated investment company is also mifid compliant and therefore entitled to offer cross-border services within the EU under the mifid regulations. Despite this, it is registered with the italian financial regulator, CONSOB.
Earlier this year xtrade got in the trouble with the ASIC over suspicions of improper handling of client money. What is more, earlier in october angry xtrade customers commenced media campaign and strike in limassol (cyprus), alleging manipulation and theft of funds (according to online media financefeeds). A number of forex forums are also flooded with complains about this broker and allegations that it is a scam. In light of the above said, there may be concerns about xtrade’s reliability.
Trading conditions
Minimum initial deposit
in order to open an account with xtrade, traders have to invest a minimum of $100. Such minimum initial amount is average, yet some renown cyprus-based brokers require less. For instance, XM demands just $5 from its clients as a start.
Spreads & commissions
as most fixed-spread brokers, xtrade provides commission-free trading. The spread for the EUR/USD pair amounts to 2 pips, which is average for the forex market.
For purposes of comparison, another EU broker (holding a FCA license), HYCM, provides fixed spreads of 1.5 pips on EUR/USD and also charges no commission. For more information, you may look up real-time spreads of 15 leading brokers here.
Leverage
the maximum leverage level offered by xtrade is 1:400, which is common for the FX market, yet it is considered a high ratio, because the higher the leverage, the greater the risk.
Nonetheless, many cyprus-based brokers offer even higher leverage rates - for example, XM provides leverage up to 1:888. And HYCM – up to 1:500. You may check out a list of brokers, providing leverage equal to or exceeding 1:500 here.
Trading platform
If you are looking for the standard forex market trading platform metatrader4 (MT4), you will not find it with this broker. Xtrade offers its clients solely its proprietary platform xtrader pro, which is entirely web-based. Mobile versions are also available.
Xtrader pro has a simple user-friendly interface and is equipped with the common trading tools and features, such as charts, technical analysis indicators, etc.
Xtrade's in-house web platform xtrader pro. Click to enlarge.
When placing orders, users are able to set a few other variables to capture profits and limit losses. They include the “close at profit”, “close at loss” and “buy when rate is” features.
Promotions
this broker offers a lot of bonuses and other attractive promotions. At the time of writing of this review, xtrade supports a welcome package of 4 types of bonuses for newcomers:
• first deposit bonus from 20% to over 60% (up to $6000), which expires after 30 days and can be withdrawn after certain volumes are traded;
• $20 cash bonus, which can be acquired following phone verification.To redeem it, you are required to reach 300 xpoints within 30 days;
• first trade on us (up to $120 cash bonus);
• $30 cash bonus, account verification account verification. To redeem it, you are required to reach 300 xpoints within 30 days.
Methods of payment
As opposed to the narrow range options it offers in terms of trading accounts and platforms, xtrade supports a number of payment methods: credit/debit cards, bank wire transfer, paypal, alipay, abaqoos, dineromail, boleto, cashu ekonto, epay bg, EPS, euteller, giropay, halcash, ideal, lobanet, mister cash, moneta RU, multibanco, neosurf, neteller, poli, QIWI, przelewy24, skrill, sofort, sporopay, teleingreso, ticketsurf, todito cash, webmoney and yandexmoney.
Xtrade does not charge any fees for deposits and according to the information on its website, withdrawal requests take up to five business days to process. Delays beyond the company’s control might occur due to third party withdrawal payment methods.
Conclusion
Xtrade is a well-regulated FX and CFD broker that offers trading in a variety of instruments on its in-house web platform. However, xtrade services are quite limited in terms of trading accounts and platforms and some concerns are raised with regards to this broker being a scam. To sum up the above, here are the advantages and drawbacks with regards to this broker:
Xtrade review
Xtrade is an established CFD broker that is owned and operated by xtrade au pty ltd.
They are officially located at: 1 queens road, saint kilda road towers, melbourne, victoria 3004 australia. Their main phone number in australia is: +61390881303, and in cyprus: +35725030742, and investor support email address is: [email protected] . Official website: https://www.Xtrade.Com.Au/.
For complaints and withdrawal problems, read this.
Xtrade review
Xtrade is a leading CFD broker, and they provide a wide range of assets for investors to trade. They are offering CFD trading facilities on indices, commodities, forex and shares. Traders and investors can take advantage of the user friendly, web based trading platform. When placing orders, you have the ability to set a few other variables to capture profits and limit losses. They include the “close at profit”, “close at loss” and “buy when rate is” features.
Traditional investors will find the industry standard metatrader4 platform. Additionally, they offer a great mobile app for ios, android, and windows, for easy trading on both your tablet and smartphone, see here.
Four account types are offered by this broker, and the minimum deposit for a standard trading account is $250. Multiple methods for funding your trading account are available including: credit card, bank transfer and alternative payment methods.
Is xtrade a legit broker?
When reviewing and comparing CFD and forex brokers it is important to check that they are actually licensed to operate. The reason to trade with a licensed broker is that in the event that the broker becomes insolvent, your money is protected.
- Xtrade australia is licensed and regulated by ASIC and located at: 39-41 chandos street level 1, st leonards, NSW 2065, australia. Their ASIC ACN is 140899476 and license number is 343628.
- Xtrade europe ltd, operates the website offersfx.Eu and they are licensed by cysec number 108/10. They are also registered in south africa with FSCA license # 46600.
- Xtrade international ltd is located in belize, and regulated by the international financial services commission (IFSC/60/383/TS/19).
There are many forex brokers to compare and choose from online. Most traders choose to invest and trade at licensed and regulated broker instead of a scam broker.
Compare forex brokers
Most investors have multiple trading accounts at the best forex brokers.
XTRADE review south africa – unbiased pros & cons revealed ( 2021 )
WHAT IS XTRADE?
According to research in south africa, xtrade is an australian company founded in 2003 with headquarters in melbourne, victoria.
Besides the office in australia, xtrade has offices in more than 15 locations globally and the broker’s website is presented in over 30 languages.
The broker offers online trading throughs its own inhouse platform for cfds on shares, commodities, forex, and indices. The platform compliments its institutional strength, practical expertise, comprehensive technology, and unparalleled network.
SAFE OR SCAM?
Xtrade is the operating body of xtrade.AU pty ltd. With an australian financial services licence. The broker is regulated by the australian securities and investments commission.
The broker keeps client funds in separate accounts which can only be used for trading activities in addition to being withdrawable by clients at any given time. The funds are kept in top rated international banks.
XTRADE REVIEW OF PRO AND CONS
| PROS | CONS |
| 1. Regulated by ASIC | 1. No metatrader4 |
| 2. Education tools provided | 2. Lack information on the website |
| 3. Demo account | 3. No swap-free account |
| 4. Provide research tools |
LEVERAGE
Leverage enables a trader to get a much larger exposure to the market the person is trading than the amount deposited to open the trade. Leveraged products, such as forex trading, magnify a trader’s potential profit – but also increase the potential loss.
Leverage is expressed as a ratio, for instance 50:1, 100:1, or 500:1. Assuming that you have $1 000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate 500:1.
Margin is the collateral to cover any credit risks that may arise during trading operations. It is expressed as the percentage of position size (e.G. 5% or 1%), and you need to have enough funds in your trading account to ensure sufficient margin.
For example, on a 1% margin a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal or more than 100% to be able to open new trades, otherwise your trading account will be fully hedged.
At xtrade the leverage ratio is 1:400.
ACCOUNTS
Xtrade offers a choice between four live account types:
Standard account
Spreads between 2 to 5 pips
Commission free trading
Premium account
Spreads between 2 to 5 pips
Commission free trading
Access to autochartist market alerts
Dedicated account managers
Platinum account
Commission free trading
VIP account
Access to exclusive corporate gifts and other benefits
Designated for professional traders only
In addition, xtrade also offers first time traders the option to open a free demo account. The account is funded with virtual money within seven days after the account is registered and it does not expire. It can be used alongside a live account.
Xtrade does not offer muslims a swap-free account.
MARKET INSTRUMENTS
The most popular market instruments available from most brokers for trading include:
Forex trading describes the currency exchange market which refers to the global, decentralised marketplace where individuals, companies and financial institutions exchange currencies for one another at floating rates.
Commodities
Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and plays a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.
Equity, or stock indices, are actual stock market indexes which measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.
Precious metals
The trading of gold and other precious metals, along with crude oil, copper or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.
The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.
Xtrade offers over 500 market instruments to trade such as:
- Indices
- Commodities
- Shares
- Forex
- Cryptocurrencies
- Etfs
- Bonds
- Cfds
Cost and fees depend on different factors, like spread and margins, and xtrade clients may also experience different fee structures according to their country or place of residence.
The spread of a currency pair is the difference between the bid and the ask rate. A pip represents the smallest increment that an exchange rate can move.
Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your trading account.
Xtrade offer both fixed and variable spreads depending on the account type used. Spreads reduce as the account type go higher.
The broker does not charge any deposit or withdrawal fees and neither does it charge commissions. An inactivity fee of $50 is charged per month after three months of no activity. It is not clear if there is any other fees charged.
DEPOSIT AND WITHDRAWAL
Accounts usually requires a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done with the same ways, but sometimes differ.
In the case of xtrade, the following minimum deposits are required:
- Standard account – $250
- Premium account – $1 000
- Platinum account – $5 000
- VIP account – $20 000
The following methods can be used to fund accounts and to execute withdrawals:
- Bank wire transfer
- VISA
- Mastercard
- Alipay
- Astropay
- Boleto
- BPAY
- Cartão mercado livre
- CASHU
- Ecopayz
- Elo (brazil)
- Epay (epay.Bg)
- EPS
- Fasapay
- Giropay
- Halcash
- Ibank&banklink
- Ideal
- Itau
- JCB
- Jeton
- Ru
- Multibanco
- Neosurf
- Pagoefectivo
- Pagofacil
- Payu
- Poli
- Przelewy24
- PSE
- Qiwi
- Rapipago
- SOFORT
- Teleingreso
- Toditocash
- Unionpay
- Vload
- Webmoney
- Wechatpay
- Wire2pay
- Yandex money
Withdrawals and deposits must be done via the same payment method and the broker does not accept third party withdrawals. It takes up to 5 business days to be processed.
There is no indication on what currencies can be used. Since the broker deals with many countries it would probably be the usual currencies such as AUD, USD, EUR, GBP, ZAR, and others.
TRADING PLATFORMS
The forex trading platform provided by xtrade to its clients is the software to carry out their trades. Some brokers provide only one, others quite a few platforms.
A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.
Xtrade provides trading through xtrade webtrader platform which is its own inhouse trading platform and available for web, and smartphones. The platform has many features and trading tools to ensure an optimized trading experience.
It is available in multiple languages, including english, german, danish, spanish, portuguese, italian, russian, norse, romanian, indonesian, french, chinese, dutch, and many more.
The platform includes real-time charting with all the leading technical indicators and extensive trading tools. Traders can enjoy alerts, notifications, friendly one-click navigation, and professional charting tools.
HOW TO OPEN AN ACCOUNT
The xtrade review process of opening a new account is fully digital, hassle-free and fast.
Similarly to a bank, to register a forex trading account with xtrade for the first time, you will be required to go through a basic “know your customer” process, which will allow xtrade to verify your details and ensure the safety of your funds and account details.
Clients are requested to complete the online registration form on the website by first choosing the right website for your country of residence.
Once your account is created, and a password assigned, you can log into the online trading platform, make a deposit, and start trading.
CUSTOMER SUPPORT
Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.
Customers can reach the support team in real time by phone, email, or live chat in multiple languages.
EDUCATION
Before starting to trade, potential clients of xtrade should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.
Xtrade offers educational material under the education centre link that includes video tutorials, several courses for novice and advanced traders, a glossary, and a FAQ section.
RESEARCH
To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitable as possible.
With xtrade customers have access to research tools such as daily news and analysis, a financial calendar, daily analysis videos and calculators.
AWARDS
Being an awarded company instils extra confidence by traders. Xtrade can show several awards accumulated during its years in business, including awards as best middle east broker, best forex education, best mobile trading platform, and best customer service in 2016 alone.
CONCLUSION
Xtrade is registered and regulated through ASIC and keep client’s funds in separated account with top tier banks. This alone gives assurance to clients that their funds are safe with this broker.
The broker caters for the novice and the advanced traders through a choice of account types in a number of trading instruments on its in-house trading platform.
Some crucial information cannot be found on the website such as deposit currencies and if it charge any additional fees.
DISCLAIMER
Trading in FX and cfds involves risks of loss due to the leveraged nature of the trading. The information contained in the xtrade website and disclosure documents is of a general nature only, and does not consider your personal circumstances, financial situation or needs.
While xtrade promises to make all efforts to fill a trade at the requested price, trading on-line does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a client agreement.
Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor, according to research in south africa.
Frequently asked questions
How many instruments can I trade with xtrade?
You can trade over 500 tradable financial instruments.
Which platforms are supported by xtrade?
Xtrade provides its own xtrade webtrader in-house platform
Does xtrade offer leverage?
Yes, xtrade offers leverage of 1:400.
What spreads can I expect with xtrade?
Spreads start from 2 pips.
Does xtrade charge commission?
Is xtrade regulated?
Yes, xtrade is regulated through ASIC.
Is xtrade a recommended forex trading broker for experts and beginners?
Yes, xtrade is recommended for use by beginners and experts.
What is the overall rating out of 10 for xtrade?
ACCOUNTS
- What is the difference between a demo and live trading account?
A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customers actual money.
- Does xtrade offer a demo account?
- How long is the demo account valid?
The demo account does not expire
- Which live trading accounts does xtrade offer?
- Standard account
- Premium account
- Platinum account
- VIP account
- What are the available deposit currencies for a live trading account?
No deposit currencies are indicated on the website, but it can be expected to be the popular currencies such as AUD, USD, EUR, GBP, ZAR, and others.
DEPOSITS AND WITHDRAWALS
- How do you make a deposit and withdrawal with xtrade?
Xtrade offers the following deposit and withdrawal methods:
Xtrade offers the following deposit and withdrawal methods, namely wire transfer, VISA, mastercard, alipay, astropay, boleto, BPAY, cartão mercado livre, CASHU, ecopayz, elo (brazil), epay (epay.Bg), EPS, fasapay, giropay, halcash, ibank&banklink, ideal, itau, JCB, jeton, moneta.Ru, multibanco, neosurf, pagoefectivo, pagofacil, payu, poli, przelewy24, PSE, qiwi, rapipago, SOFORT, teleingreso , toditocash, unionpay, vload, webmoney, wechatpay, wire2pay, and yandex
- Does xtrade charge withdrawal fees?
No, but fees from financial institution may apply
- How long does it take to make a withdrawal?
Withdrawal requests take up to five business days to process.
Xtrade review 2020: scam forex broker
The forex market is the largest financial market globally, dwarfing the frenetic and famous stock market by the trillions.
Data by the international bank of settlements shows that the daily FX trading volumes were up by $6.6 trillion by april 2019.
The foreign exchange market attracts massive numbers of traders because the barriers of entry to trade are low. Consequently, the industry is synonymous with loss of cash.
Data shows that 96% of all day traders in forex trading lose their hard-earned capital and eventually quit the market.
Sadly, many people also lose money to scammers. Schedule a free consultation with experts if you want to recover any money you lost to a scam forex broker.
Here, we give you reliable data on the xtrade scam. Let’s go.
Xtrade review: what exactly is it?
Xtrade is a forex and contracts for difference (CFD) broker whose parent company is XFR financial ltd. Its main offices are in limassol, cyprus. Like 24option, it has a cyprus securities and exchange commission (cysec) license. This regulates its CFD trading along the major european economic area zone.
It operates in other jurisdictions through its international financial service commission in belize (IFSC) license.
The business is compliant to the markets in financial instruments directive (mifid). It has a branch in italy and australia, where it operates using its australian securities and investments commission (ASIC) license.
Beyond its registration and licensing prowess, the firm has also perfected its branding. In 2016, xtrade partnered with cristiano ronaldo, the portuguese football star.
According to xtrade’s head of operations, the firm and ronaldo went into partnership because both share the drive to become the top performers in their respective fields. One of the football star’s fantastic promotional lines for the firm states, “to be the best, you need the best!”
Yes, xtrade has proper licensing. And yes, cristiano ronaldo promotes it. That can easily make you think xtrade is legit, right? Wrong. Here’s something you should know about scam forex brokers.
Unearthing forex trading scams
You can cover all the significant risks of FX trading. You can study the minor ones such as psychological, volatility, and credit risks. After all these, you may still find yourself unintentionally exposed to FX trading failure.
Many brokerage firms out there are wolves in sheep’s clothing businesses. These are scammers hiding in plain sight, exposing you to counter-party risk.
Sadly, there are seemingly legit brokerage firms out there that use their licenses as a guise for misconduct. One of these firms is xtrade.
Why xtrade is a wolf in sheep’s clothing
The truth behind xtrade, however, will become apparent after you have read its user reviews. Here are some of the common complaints:
- Unethical behavior such as opening trading positions without the express permission of the account owner
- Showing traders artificial accounts with made-up figures and bonuses that you cannot withdraw
- Hidden rules that make it impossible for traders to withdraw their cash when they want to
- Continuous loss-making trades that often surpass trading capital invested, meaning that advisors discourage traders from using stopgap measures
- Problems reaching customer support
- Offering financial advice to traders. Their licensing does not cover this. The information often drives newbie traders to make more deposits and incur more losses.
- Their proprietary software has a considerable latency in execution, making it impossible to execute speedy trades when volatility is high
- The latency in execution often results in orders opening late, causing massive losses for traders
- Selective requiting of trades when market prices have changed
- Manipulating spread prices on orders to ensure that traders make less profit than usual
Here’s what one reviewer said in forex peace academy:
The awful truth about xtrade
Apart from what reviewers say, here are some more damning facts about xtrade:
- The british columbia securities commission (BCSC) issued warnings against xtrade and its sister trading company xforex, owned by XFR financial ltd. According to the BCSC, XFR financial ltd has a cysec license. This license does not cover the trading activities of xforex and xtrade. Both brands are, therefore, not allowed to trade in canada.
- ASIC has been forced to intervene in the operations of xtrade. ASIC changed xtrade’s handling of traders’ money. This was after ASIC surveillance showed that the brand’s payment processes were questionable.
- The ASIC additionally noted that xtrade had placed buffers into the client’s accounts to limit any unexpected shortfalls, which could breach the legislative protections given to traders via licensing.
- Xtrade promises up to $6,000 bonus for first deposits. Scam brokers offer huge bonuses to attract and encourage unfettered trading, high leverage use, and false confidence, leading to enormous losses.
Xtrade scam: the final word
Xtrade is the typical example of a wolf in sheep’s skin. Here’s why:
Xtrade’s parent company XFR financial ltd has a cysec license, which might fool traders into a false sense of security when dealing with the firm.
The brand is associated with xforex, a non-regulated brokerage firm. There is a multitude of user reviews online that point to excessive unethical trading behaviors that clearly shows that xtrade is a scam broker.
ASIC and BCSC have flagged xtrade for its illegal trading practices.
It lures traders into signing up for accounts with promises of big bonuses and support in trading. The broker then takes over the cash, making withdrawals and trade management difficult.
The firm’s “advisors” who are not licensed to offer trading advice will push traders into investing more capital, causing more losses to the traders.
Has xtrade scammed you? Sorry about that. Here’s the good news. Our expert wealth recovery experts can help you get your money back. Schedule a free consultation with us and get started on the road to recovery.
So, let's see, what we have: xtrade review: find out if the xtrade scam is coming to your neighborhood. Is xtrade a regulated broker? We'll answer that right here. Know your rights. At what is xtrade
Contents of the article
- Top forex bonus promo
- XTRADE review (2020): scam update
- Is xtrade a scam? A real xtrade review
- Is xtrade a regulated forex broker?
- Is xtrade legit?
- What is xtrade?
- What services do they offer?
- Is xtrade a market maker?
- Payment options
- Withdrawal policies
- Xtrade online reviews – what the customers are saying.
- How about their customer service?
- Proof of the scam
- Conclusion
- Xtrade review – is it a scam or legit broker (2021)
- Basic information from this xtrade review
- Xtrade fees (minimal spreads)
- Frequently asked questions
- �� is xtrade a scam?
- �� what is the xtrade minimum deposit?
- �� what deposit and withdrawal methods xtrade supports?
- ⚖️ would you recommend me choosing xtrade?
- Xtrade review and tutorial 2021
- Xtrade company overview
- Xtrade webtrader platform
- Assets & markets
- Spreads & commissions
- Leverage
- Mobile apps
- Payment methods
- Demo account
- Deals & promotions
- Regulatory status
- Additional features
- Account types
- Benefits
- Drawbacks
- Trading hours
- Customer support
- Trader security
- Xtrade verdict
- Accepted countries
- Is xtrade a legitimate brokerage company?
- What is the minimum deposit for an xtrade account?
- Is there an xtrade demo account?
- Does xtrade offer a MT4 download?
- Can I open an xtrade account in canada or the USA?
- Xtrade forex broker broker review
- Featured forex broker
- Features
- Spreads and leverage
- Platform
- Deposits and withdrawals
- Beginner’s and customer support
- Conclusion
- XTRADE review
- Is XTRADE legit?
- Are funds safe with XTRADE ?
- XTRADE review: our conclusion!
- 14 thoughts on “XTRADE review”
- Xtrade review - is it scam or safe?
- RECOMMENDED FOREX BROKERS
- Trading accounts
- The company
- Security of funds
- Trading conditions
- Trading platform
- Methods of payment
- Conclusion
- Xtrade review
- Xtrade review
- Is xtrade a legit broker?
- Compare forex brokers
- XTRADE review south africa – unbiased pros & cons revealed...
- WHAT IS XTRADE?
- SAFE OR SCAM?
- XTRADE REVIEW OF PRO AND CONS
- LEVERAGE
- ACCOUNTS
- MARKET INSTRUMENTS
- DEPOSIT AND WITHDRAWAL
- TRADING PLATFORMS
- HOW TO OPEN AN ACCOUNT
- CUSTOMER SUPPORT
- EDUCATION
- RESEARCH
- AWARDS
- CONCLUSION
- DISCLAIMER
- Frequently asked questions
- ACCOUNTS
- DEPOSITS AND WITHDRAWALS
- Xtrade review 2020: scam forex broker
- Xtrade review: what exactly is it?
- Unearthing forex trading scams
- Why xtrade is a wolf in sheep’s clothing
- Xtrade scam: the final word
Comments
Post a Comment