Xtrade broker

Xtrade review – homepage the football star cristiano ronaldo was their ambassador from 2016-2017.

Xtrade review

Xtrade rating

Pros / cons

Bad reputation

Not metatrader platform

High spreads

Min. Deposit of $250

What is xtrade?

Founded in 2003 and based in melbourne (australia), xtrade is owned by the xtrade.Au pty ltd. Although xtradde is primarily registered as an australian company and has authorization from the australian securities and investments commission (ASIC – ACN: 140899476 licence no: 343628) throughout the world and has multiple offices located in its major geographical markets.

As an innovative company, this financial firm was one of the first brokers to offer forex trading via contracts for differences (cfds). Xtrade is one of the largest providers of CFD trading and has clients from around the world.

The football star cristiano ronaldo was their ambassador from 2016-2017.

Xtrade review – homepage

Regulation & trust

Is xtrade a good and regulated broker?

Yes, its australian clients are protected by one of the most strict government regulatory authorities, the australian securities and investments commission (ASIC – ACN: 140899476 licence no: 343628).

Xtrade has a very poor history of fraudulent behaviour ( withdrawal issues, unfair conditions in its platform, …).

Trading platforms & tools

As xtrade is a CFD broker, it does not have to pass customer orders to the real market, because all books are maintained internally. Hence, they do not offer traditional trading software like other forex brokers.

Instead, this broker has developed its own proprietary trading platform, which customers can access from any regular modern browser and from their smartphone.

Currently, they offer mobile trading applications for android, ios devices, and windows phones.

Does xtrade use metatrader?

Not, they don’t support metatrader platforms.

Instruments

How many assets can be traded at xtrade?

They provide trading shares of major companies and indices. N addition to the equities, they also allow its customers to trade major commodities like gold and silver. However, the largest collection of trading instruments offered by them is the forex currency pairs.

Besides major currency pairs like EUR/USD, GBP/USD, USD/JPY, etc., xtrade also offers a range of minor and exotic currencies to its customers.

During our research for this review, we found that their customers can also trade virtual cryptocurrencies like the bitcoin on its platform.

Trading conditions

What are the xtrade spreads?

All fees are charged as spreads, which happens to be fixed and ranges between 2-5 pips. We accessed its website during a weekend, the spread on EUR/USD was showing 5 pips, which would be pretty high compared to its close competitors. Although, we are sure that it comes down to 2 pips during regular trading hours, which is sunday 9 p.M. To friday at 9 p.M.

What are their fees and commissions?

Xtrade.Com don’t charge commissions on their accounts, but they have a $50 inactive account fee per month if you don’t trade for a period of 3 months.

What is their max leverage with icmarkets?

They offer up to 400:1 leverage on all of its instruments.

Research & education

They offer basic online educational tools including video tutorials, forex courses and an economic calendar.

Type of accounts

You can choose among 4 accounts depending on your minimum deposit:

Standard: $250 min. Deposit. Basic features, with high spreads.

Premium: $1,000 deposit is required. A dedicated account manager is provided by xtrade.

Platinum: you must deposit $5,000. You get a VIP trading support, and lowest spreads.

VIP: $20,000 minimum deposit is required. This account includes a priority account, individual trading strategy, and lowest spreads.

Xtrade demo account

All of these 4 accounts come to include a free demo version.

What is the minimum deposit on xtrade?

Customers can open a standard account with a $250 initial deposit.

Client support

They offer several popular channels of communication to its customers, including, live chat, email, or telephone. However, we found that xtrade hour support team is available from sunday at 22:00 GMT to friday at 22:00 GMT only.

Customers are encouraged to send an email to [email protected] prior to calling. However, xtrade does offer strong phone support.

In addition to phone and email support, xtrade also has a live chat option on their website where customers can reach customer support during business hours, which excludes the weekends.

Conclusion

Although that xtrade is an australian regulated broker and this broker was a pioneer in CFD trading and its extensive global reach made it one of the handfuls of top brokers around the world, last years they’ve gained a very bad reputation in the industry due to many client complaints about withdrawal issues, manipulation of prices, and huge spreads.

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?

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

Is xtrade a good broker? We believe they are just another broker. Although they have been growing in recent years due to the number of underlying assets which one can negotiate with, and the heavy investment they are doing through sponsorships such as those from cristiano ronaldo. Nonetheless, once can find CFD brokers like plus500 that are far more famous and do not charge commissions . They offer a wide range of negotiable assets, including forex, shares from companies listed on stock exchanges around the world, indexes and, of course, raw materials (gold, wheat, silver, oil …). However, if you want to do so at a later time, throughout this review we will analyze the requirements that every CFD broker must have by comparing xtrade with its competitors. In addition, we will analyze the varied opinions from customers (80.5% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money).

We believe it is a broker that leaves something to be desired, since their services and customer service are average. Even though the company offers many options, before hiring their services, we have to ensure it is a good broker. To do so, we have to conduct an in depth analysis to study its pros and cons. That is why we will conduct a review to study their commissions, reviews from actual traders, whether it is regulated or not, whether it offers a demo account, and other important information before registering.

Regulation: is xtrade a scam?

The first step in a review is to always analyze the regulation of the broker regulation. Why? It tells us whether it is a secure and reliable broker. Even though being regulated is not a 100% security certificate, it is a clear sign that they take things seriously and that they are not a scam.

Xtrade is a cyprus based broker, and is therefore authorized and regulated by the cypriot entity, cysec. Cyprus is one of many countries in the european union and euro zone such as spain, so they comply with all treaties, regulations and communities. In addition, its italian branch is registered in the italian entity, CONSOB, which would be somewhat similar to the UK´s FCA. In addition, since xtrade is a european broker, it complies with the mifid community regulations. Having cristiano ronaldo sponsor xtrade is seen as something very positive in the trading world and for many people, it offers them a great sense of security, but it does not provide us any information as far as reliability. The important thing is the information we encounter in terms of regulation, and based on that we have to determine if it is reliable or not.

In summary, after studying everything regarding supervision, we believe xtrade is a reliable broker. Nevertheless, we don´t like nothing that´s not registered with the FCA of the UK, which generates some distrust. Taking into account that there are other CFD brokers like plus500uk ltd that are registered woth the FCA , we believe it would be interesting to focus our attention on them (80.5% of retail CFD accounts lose money).

Does xtrade pay?

One of the concerns that traders have before investing through a CFD broker is to know whether they will have a problem when withdrawing their money. In this regard, we have to say that after reading comments in forums, xtrade generally speaking, does pay on time even though one may encounter comments about people stating that they had problems withdrawing their money.

Demo account

If you are still new to trading and don´t want to start directly with real money or you want to test using the simulator to see how cfds work. In doing so, you will be able to see how the markets reacts, be it forex with the movement in currencies, or the stock exchange with the quotation of companies, as news emerge affecting the company.

Demos are very useful tools for beginners because they offer you the option of carrying out as many operations as you want and verify in first person the functioning of the financial markets around the world, as well as to negotiate with all available assets, be it stocks, currencies, raw materials or stock indexes. Thanks to this, if you are a beginner, or if you already trade with cfds, but want to try new strategies, you can use the demo to avoid taking risks.

If you want to use different trading strategies with cfds without risking your capital, you can do invest through the demo account. The truth is that xtrade´s demo lacks many important options and has significant limitations. If you want to try plus500´s demo click on the link below, and then click on “free demo account” (80.5% of retail CFD accounts lose money).

Commissions

If regulation is most important, the second most important thing are commissions and fees. In trading with cfds, the best brokers do not charge any commission for each operation, but instead use spreads. The operation of these spreads is as follows: each time we buy or sell a CFD on a certain underlying (for example, oil, or shares of telefónica or facebook) the price of opening and closing a position is different. This differential is called the spread, and it is the existing cost to be negotiated. Therefore, we have to look for a broker whose spreads are as low as possible.

For xtrade´s basic account, which requires a minimum initial deposit of only 100 euros / dollars, the spread is fixed and ranges from 4 to 6 pips. If you prefer to register with the premium account, which is of a higher level, the conditions are better, since pips range from 2 to 5.

As mentioned earlier, there are many assets available to invest, so one cannot see each and every one of the spreads, because it would be a very boring review. By simply knowing that the euro / dollar currency pair is the most important, and as we see with plus500, the minimum spread is variable. If you want to learn more about the spreads offered by plus500, click here (80.5% of retail CFD accounts lose money).

Terms

As we have already seen, there are no commissions, but you have to know that if you do not trade for three full months, they can charge you a $ 5 inactivity fee. The normal thing is to not be charged because practically nobody opens a real account to leave it abandoned. Therefore, although there are some associated costs, we can say that hiring the services from xtrade is free.

On the other hand, one of the most interesting aspects of trading with cfds is its leverage. Xtrade stands out from the rest of the brokers, since it offers a maximum leverage of 1:30. If compared with others brokers like plus500, and even with one of the famous brokers like markets.Com, we will discover that xtrade allows a similar leverage. So, you have the option to invest with a quantity of money of the same level as with the competing brokers of xtrade. Of course, you have to know that by operating with leverage you can lose more money than what you have entered.

Another very important issue is the platform, since that´s where you will spend most time and the tool you will use to invest. Xtrade developed their own platform, so it is proprietary technology. Obviously, it offers high-level tools and all the signals you need to invest successfully. However, the signals do not make trading any easy and making money is not a sure thing. You are the one who has to operate and create your own strategy by always taking into account the risks of operating in the financial markets.

Reviews

All factors and conditions we have seen so far are very great but, what do customers who already invest with xtrade think? Comments in forums and opinions from traders are mixed, some point out great things while others recommend certain improvements.

One of the aspects that has had great opinions is the platform itself, which is very easy to use and does not require any type of download. Xtrade has many great reviews due to their free courses. The official website, which is fully available in english and other languages has also received positive comments.

Unfavorable comments are associated with the lack of using paypal to make deposits, although they have plenty of other alternatives, such as neteller, paysafe card, or traditional methods such bank transfer or credit and debit card. There is also one comment pointing out that they miss not being able to operate with the metatrader platform. Finally, one can also find opinions of distrust for not being registered under the FCA.

Rating and additional information

To end this review we want to create a list showing the positive aspects of xtrade, and factors we believe should improve, but let’s be honest, no broker is perfect.

Demo available for beginners

Platform compatible with mobile phones (android and ios), tablets and computers

No metatrader 4

Does not allow to withdraw or deposit money with paypal

Not registered with the FCA

Spreads are higher than its competitors

Can be greatly improvable in cfds over cryptocurrencies, ripple, bitcoin, bitcoin gold, bitcoin cash or litecoin

Having rated the different conditions offered by this broker, our assessment is that it is a mid-level company. Our opinion about xtrade is relatively good, but we miss not seeing it registered in UK´s FCA and we don´t like their high spreads.

We believe plus500 is an option which should be consider for trading with cfds. Click here if you want to learn more about plus500 and trade without having to pay commissions (80.5% of retail CFD accounts lose money).

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.

Official xtrade broker review 2019

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

Xtrade rating

Pros / cons

Bad reputation

Not metatrader platform

High spreads

Min. Deposit of $250

What is xtrade?

The football star cristiano ronaldo was their ambassador from 2016-2017.

Xtrade review – homepage

Regulation & trust

Is xtrade a good and regulated broker?

Xtrade has a very poor history of fraudulent behaviour ( withdrawal issues, unfair conditions in its platform, …).

Trading platforms & tools

Instead, this broker has developed its own proprietary trading platform, which customers can access from any regular modern browser and from their smartphone.

Currently, they offer mobile trading applications for android, ios devices, and windows phones.

Does xtrade use metatrader?

Not, they don’t support metatrader platforms.

Instruments

How many assets can be traded at xtrade?

Besides major currency pairs like EUR/USD, GBP/USD, USD/JPY, etc., xtrade also offers a range of minor and exotic currencies to its customers.

During our research for this review, we found that their customers can also trade virtual cryptocurrencies like the bitcoin on its platform.

Trading conditions

What are the xtrade spreads?

What are their fees and commissions?

Xtrade.Com don’t charge commissions on their accounts, but they have a $50 inactive account fee per month if you don’t trade for a period of 3 months.

What is their max leverage with icmarkets?

They offer up to 400:1 leverage on all of its instruments.

Research & education

They offer basic online educational tools including video tutorials, forex courses and an economic calendar.

Type of accounts

You can choose among 4 accounts depending on your minimum deposit:

Standard: $250 min. Deposit. Basic features, with high spreads.

Premium: $1,000 deposit is required. A dedicated account manager is provided by xtrade.

Platinum: you must deposit $5,000. You get a VIP trading support, and lowest spreads.

VIP: $20,000 minimum deposit is required. This account includes a priority account, individual trading strategy, and lowest spreads.

Xtrade demo account

All of these 4 accounts come to include a free demo version.

What is the minimum deposit on xtrade?

Customers can open a standard account with a $250 initial deposit.

Client support

Customers are encouraged to send an email to [email protected] prior to calling. However, xtrade does offer strong phone support.

In addition to phone and email support, xtrade also has a live chat option on their website where customers can reach customer support during business hours, which excludes the weekends.

Conclusion

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.

Xtrade platform

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.

Xtrade mobile app

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 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.

A registration license commonly differentiates an untrustworthy trader from one that is not. Regulatory enforcement can protect you and your capital from criminal FX trading activity.

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 firm’s outer façade gives the impression that it is a reliable and popular partner in trade. It does not have hidden fees. Its platform is easy to use and robust.

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.

Xtrade review

Minimum deposit

Bonus

Maximum leverage

Spreads

Licences

US clients

This broker is not recommended!

Topforexbrokers.Net team does not trust this broker and advises you not to sign up with it.

Tired from commissions that are taken from every trade you make? Read xtrade review and see that there is always something better waiting for you than your current broker. Read full xtrade review to find out all what it can offer!

Software: metatrader 4, metatrader 5, web based, ctrader

Currencies: USD, EUR, GBP, AUD, CHF

Payment methods: bank wire, visa, mastercard, neteller, paypal, skrill

Restricted countries: USA, israel, islamic republic of iran, iraq

Xtrade broker at a glance

Xtrade forex broker is not one of the newcomers to the FX brokers market. It has been servicing the clients for quite a long time. It is owned by xtrade europe ltd., the company with headquarters in cyprus. As you can guess, it has cysec regulations.

Also, one of the most important facts about xtrade forex broker is that it was one of the first brokerages that started to offer CFD trading. So, if you trade mainly cfds, you should definitely check out this broker!

Xtrade trading accounts

Xtrade forex broker offers you such types of accounts:

Standard

Premium

Platinum

Your account type will be defined by the deposit that you make. There is always a room for a discussion with your account manager.

Xtrade reviews of trading platforms

Even though there is a ton of different forex trading platforms, some brokers still take time to develop their own. This is the case of xtrade forex broker. They decided not to use any available forex trading software and develop something own and unique.

Good thing about this platform is that it is web-based, so no software download and no headache are waiting for you. But, as you would expect, the platform does not offer as much indicators as some of the software-based platforms do. In case you do CFD trading most of the time, this platform will certainly be enough for you.

This forex broker did not forget about mobile trading as well. Their platform can be downloaded to your mobile phone if you are on ios, android or windows mobile. So, almost any smartphone and tablet that exists now can be used by you for trading with xtrade broker. Software is comfortable and none would suspect it to be laggy, so if you are into trading from your gadget, it certainly can be your choice.

Xtrade review of deposits and withdrawals

Having high variety of deposit and withdrawal methods is crucial for good forex broker. And xtrade meets our expectations in this area. You can fund your account via standard cards and wire transfers, but when it comes to internet payments, you get much more. There are over 10 different online payment systems available at xtrade broker and you will certainly find the one that fits you.

But, be aware, that any payment should be made from the account with the same name. So if you decide to fund your account through somebody else’s credit card, it would not be a good idea. It is done for AML purposes and most of the brokers use this restriction, so there is nothing bad in it.

As for withdrawals, most of the time, the funds you have deposited will be available for withdrawal via same payment system. But when it comes to profits, you will have to use wire transfer. Once again, it is a security measure.

Xtrade forex client support

The team that created xtrade review is always concerned about good customer support. This is why we spent time figuring out how can you contact xtrade forex broker in case you need to. As a rule of good brokers, you can use live chat and email contact. Both of them are available in 14 languages, including turkish, english, russian and polish.

But, if you do not have access to the internet, but you need to clarify something with this broker, you can also use their phone number. Telephone support can be spoken to in more than 30 languages, so there are almost no chances that you will not find common language with them. Either you are from the UK or from germany, this broker gives you ability to contact them via dedicated phone number 24/5 and discuss all the issues.

Xtrade forex review conclusion

Concluding everything, xtrade forex broker is a solid choice for those, who find their passion in CFD trading. It is just awesome to make trades with broker that was one of the first in this area. Nevertheless, as for normal forex trading, we should say that spreads are a bit higher than at other brokers. Additionally, sometimes you will just be required to open MT4 in order to make good technical analysis. For being a bit different from most of the forex brokers and for having such a good support, xtrade review gives to this broker 4 out of 5 stars!

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Xtrade.Com review

Formerly xtrade.Ru (.Eu)

Xtrade is a forex broker. X trade offers web trader and mobile forex trading platform. Xtrade.Com offers over 55 currency pairs, shares, indices, cfds, commodities, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Other websites of this company include fxcryptotrade.Net.

Broker details

established:	2012
address:	no.5 cork street, belize city, belize. C.A, belize
contact:	support@xtrade.Com, 1800 017 5700
regional offices:
regulators:	IFSC #IFSC/60/383/TS/19
prohibited countries:

deposit methods:

bank wire, 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

withdrawal methods:

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Traders reviews

Length of use: 0-3 months

Guys .. Please this is true review about xtrade.Com . Please dont trust this company or invest your money in it . Its a big scam and they play very dirty game to cheat people and steal their money. So dear friends .. Please stay away from xtrade.Com.

Aug 13, 2017 - 1 star please dont deposit your money with xtrade . It is a fraud company . I lost all my hard earned money trading with them . Guys please stay away.

I dealt with their russian speaking desk, first it was anna novikova. Then zhan rusov, who was pushing me so hard, advising me to TAKE A CREDIT IN A BANK AND HE COULD EVEN RECOMMEND A BANK - what a scam. His point was that after I deposit $1000 I would be able to withdraw this deposit within a week - maximum 2 (GUARANTEED) and then trade with what I would had left on my account. Also both of them, anna and zhan, said that there would be just one condition for me to be able to get profit - NOT TO OPEN ANY TRADES ON MY OWN! That was the condition. Of course I would not - I know nothing about trading whatsoever! So after I deposited $1000 i was assigned aleksandr nazarov to be my account manager. 3-4 lucky deals under his 'supervision' then my account went to deep minus. They changed my account manager - alexandr antipov, who said if i deposit more money he would do his best to recover my account - never happened too. I then deposited $300 not to lose what I had locked. Then I spoke to my friend who is a solicitor in this field and if you have been in the same situation I recommend to read this letter (below) and take what you can out of it. So I submit a letter to their compliance department asking them to return my deposit - they reinstated my account with virtual money to sit the draw down until price goes back to where I opened it (never happened it was EURUSD I had a sell at 1.08 something and it never returned to this level) so I lost it at the end.

Overall it was a long and stressful story. Just read it and take what you can out of it. If you had been given a fraudulent investment advice - find a solicitor in this field, complain to FCA in london, even if you are not there - it costs nothing to file a complaint there, but it costs a lot to a broker. Keep all recordings that you were given (emails, record telephone calls - also THEY DO HAVE RECORDED TELEPHONE CALLS, so if you were in the same situation as me, you or a FCA can request them. They might give you many many reasons why they cannot have an access to them, but when they need it - they find it within 5 mins - personal experience).

Also, when you ask your account manager WHY he gave you wrong advise, which happened every single time after i filed a complaint, they think it is fine to call you back and start screaming his a** off at you and then put the phone down.
It was a VERY bad experience with this company.
Letter(main part):
ON monday, the 8th of may 2017, I received a call from aleksandr nazarov who told me that I need to deposit another $2000 to be able to trade commodities and where I can earn 'real' money. He also offered me to borrow this money. I refused. Then we opened a first EUR/USD deal, I got some profit. Then another 3-4 deals were profitable. On the 12th of may he tells me to open a $50 000 EURUSD sell trade. Which I did. It went to $-220, then $-400, $-700 and so on, now it is $-1400. I was emailing him each time it went more in minus, he would say to wait, wait, wait and that it should go down soon. So I waited and waited as was advised by aleksandr. Until my equity shrinked. Now I only have $100 equity. Positions still opened - you charge me fees every day to keep them open and he said I need to wait until he calls me and not to do anything about it. I am still waiting.

Now I have three positions in my account and my LOSS is locked there. And yesterday alexander called me, saying that he has spoken to analytics and they came to a conclusion that I need to deposit more money in order to save my accont from the state that HE got me into! This does sound like a scheme.

My complaint:
you are neither authorised nor qualified to give any investment advises. Your company is a broker, not a financial advisor. You do not have any license for giving finincial advices. I have no knowledge of FX markets whatsoever and you abused your position by pushing me with fake promises to deposit money, then to open the trade, which was initially not in my favour, as well as pushing me to take the maximum leverage since the commissions are higher (for beginners there should only be a leverage of maximum 1:25 and at no point 1:400), now I have 3 positions opened where you charge me fees daily but no one tells me to close them, as you get your fee daily on them - very dishonest! I have our correspondence with alexander where he 'advises' me to keep the trades.
I want you to reimburse my deposit of $1000 either to my account, so I can withdraw it or right into my bank. If you do not do so, I and my solicitor in london will report you to financial ombudsman in london, FCA, CROFR, naufor and cysec and any other institution we find relevant to this case. We will start with cysec as they still passporting a financial service from cyprus to the UK and you still broker to the financial authority code of business.

So, let's see, what we have: is xtrade a trusted market maker broker? Let’s review in-depth including assets. Trading platforms, accounts, demo, spreads, regulation and minimum deposit. At xtrade broker