- What is XTrade?
- XTrade Pros and Cons
- Is XTrade safe or a scam?
- Trading Instruments
- Deposits and Withdrawals
- Trading Platform
- Customer Support
Our Review Method
- Our 55Brokers experts with 10+ years of experience have examined the broker’s offering including fees, spreads, platforms, verified license, as well as contacted customer support to see conditions and eventually give out expert opinion on XTrade
What is XTrade?
The broker XTrade first known as XFR Financial Ltd was established back in 2003, while recently headquarters in Cyprus and XTrade is one of large Forex Brokeks offering traditional trading through CFDs on shares, commodities, forex, and indices.
The company also continuously increases its ranges and adds instant access to the most popular Cryptocurrencies that are available 24/7 directly through the trading platform: Bitcoin, Bitcoin Cash, Litecoin, Dash, Ethereum, Ripple, and other digital coins.
The international proposal through performed through an established entity in Belize that allows international traders to open accounts and also get high leverage or other conditions. Yet, be sure you learn the differences between regulations and conditions well.
Where is Xtrade based?
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 which service clients from Dubai to Uruguay.
XTrade Pros and Cons
We findXTrade is a trusted broker with CySEC regulations. XTrade provides good trading technology with platform selection and spreads on an average-low basis, the account opening is fast and there is a selection of Forex and CFD instruments.
On the negative side, they are some limitations in product offering, support is not available 24/7 also international proposal is done via the Belize entity. Also, the broker doesn’t provide Islamic accounts to its clients.
|Worldwide coverage through entities in the Cyprus and Belize||Support not available 24/7|
|Forex and CFD instruments||International trading done through Belize entity
|Good quality trading technology|
|Choice between MT4 and Proprietary platform|
|Low costs based on spread|
|Fast account opening|
|Quality customer support|
Xtrade Review Summary in 10 Points
|🗺️ Regulation and License||CySEC, FSC, ASIC, FSCA|
|🖥 Platforms||MT4, XTrade WebTrader|
|📉 Instruments||CFDs on shares, commodities, forex and indices, Cryptocurrencies|
|💰 Costs||0.6 pips|
|🎮 Demo Account||Offered|
|💳 Minimum deposit||$250|
|💰 Base currencies||Three currencies available|
|📚 Education||Free education with courses and daily analysis|
|☎ Customer Support||24/5|
Overall Xtrade Ranking
Based on our Expert findings, Xtrade is considered a reputable broker with safe and very favorable trading conditions. The broker offers a range of trading services designed for both beginner traders and professionals with low initial deposit amounts. As one of the good advantages, Xtrade covers almost the globe, so traders from various countries can sign in, also with the lowest spreads.
- Xtrade Overall Ranking is 9.3 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
Xtrade Alternative Brokers
Even though Xtrade offers favorable trading conditions that might be considered one of the best, the broker has some drawbacks. For example, the broker doesn’t provide copy trading, a very popular trading strategy popular among beginners. Also, the broker doesn’t offer a Swap-free account. Here’s the list of Xtrade alternative brokers:
- eToro – Best for Copy Trading
- XM – Best selection of Educational Resources
- Pepperstone – Low Spreads and Competitive Trading Conditions
In fact, XTrade through its long operation spread around globally while serving clients from a vast number of countries. As a recognized company in online trading with years of experience and worldwide presence, the firm confirmed its status with many awards and industry achievements.
- Xtrade & Cristiano Ronaldo – The broker supports various social activities which increase their presence in the world picture. Cristiano Ronaldo was Xtrade’s official ambassador of 2016-2017, which signifies an opportunity to support the world’s greatest footballer while promoting marketing-leading CFD trading products.
Is Xtrade safe or scam?
No, XTrade is considered a safe broker because is authorized by CySEC to provide lower-risk Forex and CFD trading. The regulation is tailored with a compensation scheme in case of a client’s insolvency.
Is XTrade legit?
The XTrade group and the company fully comply with the CySEC regulation, as per their headquarters in Cyprus and its obtained license, along with ASIC regulation and numerous registration and authorization across the EEA zone. The international brand that serves worldwide clients XTrade International operates in various jurisdictions through its license obtained by the Financial Service Commission in Belize (IFSC).
Even, in fact, this license is an offshore one, which is regarded as not safe enough on its own, the additional regulation by the European entities confirms that the broker strictly complies with international protective measures.
See our conclusion on Xtrade Reliability:
- Our Ranked Xtrade Trust Score is 8.7 out 0f 10 for good reputation and service over the years, also the broker’s top-tier regulation is backed up with a compensation scheme. The only point is International trading available via the offshore entity.
|Xtrade Strong Points||Xtrade Weak Points|
|Regulated international broker||Not listed on Stock Exchange|
|CySEC and ASIC authorized||Runs offshore entity in Belize|
|Cross border licenses and global coverage|
|Negative Balance Protection applied|
How are you protected?
The client’s funds are always segregated as we see through our XTrade Review, which means an account in which the trader’s assets are kept is separated from the broker’s assets that enable security and money protection, while also every client account is opened under the Investor Compensation Fund.
Furthermore, Xtrade continuously monitors its operations as per regulatory requirement and provide comprehensive security for all online transaction or manipulations provided.
In addition, according to the regulation sets the trader cannot lose more than the initial deposit, since the broker applied negative balance protection, which all in all makes XTrade considered to be a safe Forex broker.
Leverage is a quite unique opportunity to magnify trading potential using the tool of leverage. However, every trader should remember that leverage can work both for you as well as against you, so you should be cautious when using it and learn more about how to use tool smartly.
In terms of the XTrade leverage offering, as there are two main regulatory obligations the clients of different jurisdictions will fall under specific levels of leverage.
- European clients or those traders that are operated under the CySEC regulation, as per current updates are allowed to use maximum leverage of 1:30.
- The International clients operated through XTrade International may enjoy leverage till 1:400.
Through one Xtrade single account, you are able to trade across multiple devices that make no difference between the traders. In the beginning, the trader can always try out the risk-free environment through Demo-account opening.
You can either grow your account so that once the account reach or holds a balance of a certain amount it will turn either to a Premium Account with 1,000$ balance, a Platinum Account with 5,000$, and a VIP Account 25,000$ accordingly. The trading conditions won’t be different and features the same support, education, news, and available numerous signals. Yet, there is a spread reduction and additional education videos available for Platinum and VIP account holders.
|Fast account opening||None|
|Five Account types offered depending on account size|
|Selection between three base currencies|
|Demo Account |
|Analysis and Exclusive Education for VIP clients|
How to use Xtarde?
In order to use Xtrade, you need to open a live account first. Opening an account with Xtrade is quite easy, you just need to follow the steps of the account open, verify your details and select the account type of your preference there’s a quick guide on how to open a live account with Xtrade:
- Step 1 – Online Application on trader’s platform
- Step 2 – Approval Process
- Step 3 – Funding
Our experts found that Xtrade trading instruments or trading products are offered through a popular CFDs or Contract for Difference model, which allows vast flexible opportunities for price speculation without particular ownership of an asset.
– Xtrade Equity CFDs allow trading CFDs worldwide on the most actively traded shares– Apple, Google, Nike, JP Morgan, IBM, etc. With a 5% Initial Margin.
– Forex Trading includes the most popular international currency pairs – EUR/USD, USD/JPY, etc. Xtrade trading system provided over 50 leveraged Forex pairs with leverage up to 1:400.
– Index CFDs – S&P 500, Dow Jones, etc. The contract value of one Index CFD equals the price quoted in the currency of the Index. The broker offers the market fixed spreads between the buy and sell prices and no commissions.
– Commodity CFDs – Gold, Silver, Oil, Natural Gas, etc. The contract value of one Commodity CFD equals the price quoted in the currency of the commodity. For example, if Gold CFDs are trading at $1,200.50, then the value of one ounce of Gold CFD is $1,200.50.
- Xtrade Markets Range Score is 8 out 0f 10 for wide trading instrument selection, yet the only drawback is that the European entity offers mainly CFDs and Forex Instruments, and the range of the instruments depends on the jurisdiction
Can I trade Crypto with Xtrade?
Yes, our research showed that the broker provides access to the most popular cryptocurrencies available directly on our trading platform: Bitcoin, Bitcoin Cash, Litecoin, Dash, Ethereum, Ripple, and many other digital coins.
Our experts found that XTrade offers various technical solutions and tools for better trading conditions, along with reduced costs with no commission policy but only fixed spreads (e.g. spreads between the buy and sell prices for EUR/USD 2-5 pips). Additional costs like non-trading fees, funding fees, and inactivity fees are ranked below.
- Xtrade Fees are ranked low with an overall rating of 8.9 out of 10 based on our testing and compared to over 500 other brokers. Fees might be different based on the jurisdiction, see our findings of fees and pricing in the table below:
|Fees||XTradeFees||BDSwiss Fees||AvaTrade Fees|
XTrade trading fees are based on an Xtrade Spreads Only strategy, with a fixed amount, which means that traders’ costs are included in a spread, which is the difference between the bid and the ask price of a financial instrument. To see the Spread value for each product please refer to the table below that gives you a reference on a price model, however, check the most accurate data on the official Xtrade website or platform.
However, the trader will have a better price offering from the XTrade broker as long as the account size or type increases. Thus, the spread of the common EUR/USD pair is fixed to 5 pips in Standard Account, 3 pips in Premium and Platinum, and 2 pips in the VIP account.
Overall Xtrade spreads are considered to be a low spread offering among the market, for instance, check out and compare Xtrade to FP Markets fees.
- Xtrade Spreads are ranked low with an overall rating of 9 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average of 0.6 pips for EURUSD, and spreads for other instruments are very attractive too
|Asset/ Pair||XTrade Spread||BDSwiss Spread||AvaTrade Spread|
|EUR USD Spread||0.6 pips||1.5 pips||1.3 pips|
|Crude Oil WTI Spread||1.5||6||3|
|BTC USD Spread||95||2000||0.75%|
Keeping a position open after a specific hour (approximately 22:00GMT), subject trader to an Xtrade funding premium fee or overnight fee that is subtracted from the trading account. This premium covers the cost of the associated funding and varies from the asset for another, e.g. Eur/Usd fee for sell or buy is around 1.8.
Deposits and Withdrawals
Clients have many options to deposit or withdraw the funds, however, clients should check whether the particular option is available in their location. It is easy to do on the official XTrade website.
- Xtrade Funding Methods we ranked good with an overall rating of 8.5 out of 10. The minimum deposit is a bit higher for the industry, yet fees are either none or very small also allowing to benefit from various account-based currencies, yet deposit options vary on each entity.
Here are some good and negative points for Xtrade funding methods found:
|Xtrade Strong Points||Xtrade Weak Points|
|Fast digital deposits, including Credit Card, Debit Card, Electronic Wallet, PayPal||Conditions may vary according to trading entity|
|No deposit fee|
|Withdrawals free of charge
So our experts found the available methods include the following ones, so you can choose the most convenient one for you.
- Credit/debit cards,
- bank transfers,
- American Express,
- Skrill and many more common options.
There are no deposit or withdrawal fees charged to the client from the company,
XTrade minimum deposit
The XTrade minimum deposit is $250, yet you should calculate and cover necessary expenses since the variety of trading instruments offers different margins and spreads. E.g. to open a new position at equity, the account must exceed the trade’s initial margin level requirement. Also, Xtrade occasionally runs promotions offering lower deposit threshold minimums.
XTrade minimum deposit vs other brokers
||Most Other Brokers
How much does Xtrade charge?
Based on our research the broker doesn’t charge any deposit/withdrawal fees, however, it charges an Inactive Account Fee of up to $50 USD per month is assessed to Xtrade accounts that are inactive.
Does Xtrade have no deposit bonus?
No, Xtrade doesn’t provide no deposit bonus.
XTrade Withdrawal fee or deposit charge is 0$ which means the broker covers transaction expenses unless your own bank or payment method requires some performance charges in case of the wire transfers. If you deposit via credit card, any withdrawal amounts will be returned to that credit card. Likewise, if a deposit is made via bank transfer, the withdrawals will be transferred back to your bank account.
Xtrade Trading Platforms
The Xtrader platform range offers mainly an online-based proprietary software, as well as to stay trading with an industry leader MetaTrader4. However, the proprietary platform gained numerous rewards, from both industry professionals and the traders, thus you may try and then never leave the XTrade platform.
The platform does not require installation and offers a rich set of trading tools for optimal trading, as well enriched with market analysis and fast execution of orders.
- Xtrade Platforms are ranked Excellent with an overall rating of 8.8 out of 10 compared to over 500 other brokers. We marked its proposal great since the broker offers industry-standard MT4, also its own proprietary platform that has already gained recognition due to its great conditions
Trading Platform Comparison to Other Brokers:
In order to never miss an opportunity, Xtrade developed a powerful mobile platform that is available on iOS, Android and Windows. The mobile platform is customer-friendly and supported by alerts and professional charting tools.
Overall, as a trader you will get access to real-time charting and almost all possible manipulations in the web platform or its applications, which is fully intuitive and easy to understand or perform even to the newbies, not considering professionals that will find the full capacity of very powerful features.
Based on our testing, Xtrade provides also multiple support that increases the trading experience and makes it a smooth process. You can reach out customer team through live chat, email, or phone lines, also due to international coverage, there is multilingual support and centers that run 24/5.
- Customer Support in Xtrade is ranked Excellent with an overall rating of 8.3 out of 10 based on our testing. The broker provides omnichannel support available in multiple languages. We got some of the fastest and most knowledgeable responses compared to other brokers. The main problem is that the broker’s support is not available on weekends
See our find and ranking on Customer Service Quality:
|Quality customer support with live chat
||Support not available 24/7|
|Fast and relevant response
|Live Chat availability|
Based on our research, we found broker’s great selection of trading education suitable for both beginners and advanced traders. The broker offers a great variety of courses, articles, video tutorials, and glossaries. You are able to develop trading skills and strategies with professional trading tools, along with educational resources and daily market reviews, which makes it possible for beginners to join as well.
- Xtrade Education ranked with an overall rating of 8.9 out of 10 based on our research. The broker provides very good quality educational materials, and excellent research also cooperates with market-leading providers of data.
Xtrade Review Conclusion
Concluding XTrade review, the broker brings stable and reliable conditions to trade. Their main offering mainstays on a fixed spread with no hidden fees, powerful online-based platform and comprehensive trading instruments variety. As a regulated broker, the company does follow the strict rules of the client’s protection along with the funds’ security and safe trading environment. What is pleasing also, is that XTrade supports their traders by various means, from excellent support to 0$ fees on money transactions, as well as widely supported methods.
We concluded that Xtrade flexibility in terms of platforms, currency pairs, and a number of provided solutions is a truly turnkey advantage. The broker offers competitive costs and excellent education material suitable for traders of different levels.
Based on Our findings and Financial Expert Opinions Xtrade is Good for:
- Advanced traders
- Professional Trading
- Traders who prefer MT4 platform
- Algorithmic or API traders
- Currency and CFD trading
- Variety of trading strategies
- Good customer support
- Excellent educational and research materials