XTRADE Review
- Very competitive spreads and low commissions if any
- Excellent trading platform for both desktop and mobile devices
- Great customer service
- Good training and educational materials
- Only fixed spreads offered
- MT4 trading platform not available
XTrade is a professional online CFD trading brokerage with nearly 10 years of experience in the online trading industry. The online brokerage strives for excellence and has won numerous awards for their competent services in offering the trading of CFDs on shares, commodities, forex, and indices. XTrade was founded in 2010 and is owned and operated by XTradeEurope Ltd. The brokerages headquarters are located at Cork Street, No. 5, Belize City, Belize and is regulated by the Cyprus Securities and Exchange Commission (CySEC). Also, the XTrade brokerage is regulated by the International Financial Services Commission (IFSC) under license number (60/383/TS/17). Apart from regulation, XTrade is a competent provider of CFD trading in the global markets and accepts traders from all over the world, excluding some countries such as the U.S. and Canada. As well, since XTrade is an international CFD trading brokerage they offer their services in 37 different languages. While this broker seems to be a great option for trading CFDs, how do you know for sure? In the following review we’ll delve deep into the aspects that make up this online trading brokerage and see what sets XTrade apart from the competition and whether or not they can be trusted.
Trading Platform
Since XTrade is a CFD trading brokerage, the software needed to accommodate the needs of this trading is quite sophisticated and different from many of the standard universal trading platforms available. Therefore, XTrade developed their very own proprietary trading platform known as the XTrade WebTrader. This platform is entirely web-based, meaning there is no need to download and install any applications and it can be accessed from different desktop computers. The platform features an array of rich features and trading tools for an optimized trading experience in real-time. Traders can access the best market analysis tools and quickly execute trades and orders directly from the charts.The whole interface is very well designed and easy to use while at the same time packing loads of advanced tools and features. The platform is perfectly suitable for both beginner and advanced traders. Also, for busy traders on the go, the platform is available for download on mobile devices for both Apple and Android. Now, traders can manage their portfolio and make important decisions while they’re away from the computer.
Exchange Markets
XTrade provides their clients with an extensive array of CFD instruments to trade across numerous lucrative markets such as forex, shares, commodities, indices, cryptocurrencies, bonds, and ETFs. See some basic details of what’s included in these markets on XTrade below.
Shares
- Choose from over 100 shares across numerous markets from 19 different countries
Indices
- Trade the top indices from 4 different countries
Commodities
- Trade over 20 of the most popular and liquid commodities
Forex Trading
- 53 total currency pairs
- 18 Major currency pairs
- 12 Minor currency pairs
- 23 Exotic currency pairs
Cryptocurrencies
- 21 cryptocurrencies
Bonds
- Gilt Long Government
- US 5Y T-Note
- US 10Y T-Note
- US 30Y T-Note
- 10Y Euro Bund
ETFs
- Indices
- Commodities
Fees and Commission
XTrade is very transparent with all the fees associated with trading CFDs on the various investment products they offer. Each asset is assessed differently and XTrade publicly shows the associated spreads and/or commissions for each asset on their website. The way XTrade makes money/imposes fees is through the Bid/Ask spreads and margin calls.The spreads are fixed for each asset rather than varied/floating spreads. To give an example, the EUR/USD currency pair comes with a spread of 2 pips which is around the industry standard.As for trading on margin, it comes with a great deal of risk and can work for you or against you in great amounts. Other fees traders may incur are a premium buy/sell charge which differs for each CFD. Also, traders can incur account inactivity fees of $10/month if the account is inactive for 3 months or longer.
Security and Fairness
XTrade is a very safe and secure online trading brokerage as they are regulated by multiple regulatory authorities and have an excellent reputation in the investment services industry. As well, client’s funds are held securely in segregated accounts, clients are protected from an investor compensation fund, and clients are protected by XTrade’s financial services. Additionally, XTrade continuously monitors its operations and submits financial reports periodically. As well, all transactions are encrypted with 256-Bit SSL Bank Standard Secure Socket Layer security measures. XTrade has never experienced any substantial hacks and continues to securely serve their customers in all cases.
Support
Another area where XTrade excels in is their level of customer support. Customer service representatives are available 24 hours a day, 5 days a week and can be reached via email, live chat, or telephone. The support is also multilingual and available in 6 different languages, while the website is available in 37 languages. Additional methods of support include dedicated account managers which are available for customers who deposit a certain amount of money into their trading account. Also, traders can receive support from the websites extensive FAQ page and informative education center. All throughout the site, traders will find very useful and helpful information, as well as answers to their questions.
Conclusion
XTrade is one of the leading CFD trading brokerages and has years of experience under their belt. The sheer amount of tradeable assets offered by XTrade is outstanding. Traders have access to nearly every type of tradeable asset they would ever want. Also, the spreads and commissions are very competitive and unique to each asset class in a very transparent manner. More positive aspects of this exchange are the sophisticated trading platforms available and level of customer care. XTrade is definitely an online CFD trading brokerage worth considering if they accept traders from your country.
XTrade Q&A
The following are the common questions that customers inquired about XTrade.
Is XTrade regulated?
Yes, it is regulated by the International Financial Services Commission (IFSC) and the Cyprus Securities and Exchange Commission (CySEC)
Is XTrade a scam?
No, XTradeis a legit broker with an excellent reoutation.
Where is XTrade based?
XTrade is based at Cork Street, No. 5, Belize City, Belize.
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