Choosing a safe and reliable forex broker is first of the many important steps traders have to make before starting their trading careers. Our search for such traders have now brought us to XTrade. Did it manage to get hold of our attention? Let’s check in this detailed review as follows:
Introduction and Regulation
XTrade is primarily recognized as one of best providers of CFD (contract for difference) trading, including trading instruments belonging to forex, stocks, commodities and indices sector. Its overall services are regulated by Republic of Cyprus’ financial regulatory agency CySEC, something that allows XTrade to offer its services throughout Europe.
Additionally, XTrade has numerous offices around the world, where it complies with every local license and regulation. Among them we have:
MiFiD: Markets in Financial Instrument Directive;
CONSOB (Commissione Nazionale Per Le Società e La Borsa): an Italian regulatory agency;
OCM (Online Capital Markets) for the management of XTrade under Australian regulators.
XTrade offers two types of accounts: Standard and Premium. The first account allows the trader to start trading with a minimum deposit of only €100; this type of account is very suitable for all novice traders, thanks to the minimum deposit.
The Premium Account does not have any transaction fees for deposits but depositing a minimum amount of €1,000 is necessary. Additionally, traders are also provided a 1:400 leverage feature.
XTrade offers traders the opportunities to work with different kind of assets, including:
Currently, XTrade have a simple platform to avoid confusion and to better assist all their traders.
With this, traders have the chance to work with a reliable platform that offers almost every tool to assist trading strategies. The platform provided by this trader is famous because it is also used by other brokers, which fits very well to an audience comprised of beginners, as well as experienced traders. It is also a safe, fast and impeccably navigable platform.
The platform Webtrader makes it possible to operate on different types of orders available, thanks to its Stop Loss function through which limits the losses and closes the position while achieving a specific price.
And when the action reaches the set price, the Stop Loss order becomes a market order, which is immediately transmitted to XTrade that further closes the position at the best price possible.
In addition to Stop Loss function, there is also the function of Take Profit order. In this case, XTrade receives the order to close a position if the instrument reaches the specific price. For this reason, we believe that the Take Profit (Limit Profit) order turns out to be a great way to protect your profits if the price of the instruments Stocks, Forex, Commodities, Indices, etc. go in a favorable direction.
This broker still offers the opportunity to all its traders to access more than 20 technical indicators, among which the most important are: Fibonacci; Elliot Waves; Graphic overlay; etc.
The XTrade trading platform is also available for Windows, Apple and Android devices.
XTrade makes sure to rewards its clients by offering periodic bonuses. Here is some of their highly appreciated offers:
This €25 bonus is for all the new traders that register themselves at XTrade. However, the most attractive thing about this plan remains to be its no-deposit-requirement. Traders don’t have to deposit any funds to receive the Welcome Bonus. It also leaves scope for novice traders to practice further into the CFD trading.
XTrade offers bonuses depending on the size of deposits. For instance: if a trader deposits an amount lying between €100 and €249, then he/she is liable to receive an additional 20% deposit according to XTrade rule book. Similarly, for players depositing €250-499, the bonus turns 30%, and so on.
XTrade spends a special time educating novice traders with the pros and cons of online trading. It has a great learning center where both beginners and advanced traders can make use of trading guides, video tutorials, and dozens of other features.
Added to this is AutoChartist, a great tool that can be used to procure market reports and send trading signals. The tool can also be used to inform traders about the subsequent market movements.
XTrade also offers daily technical analysis of multiple trading instruments; economic calendar that keeps traders informed of all upcoming economic and financial events that occur around the world; Market analysis; real time graphics; as well as push notifications.
XTrade offers flawless assistance to all its traders as the company holds a team of tutors that are really competent, polite and kind enough to address clients’ issues. The XTrade service center can be contacted through email, phone or an integrated live chat tool.
The service is available 24/7.
To conclude, we can say that XTrade offers all its traders a really friendly trading environment. Opening an account at XTrade and start trading is really easy and fast. What’s further, is their bonus plans which makes sure to keep traders’ engaged and experimental throughout their trading venture. Overall, XTrade is a broker worth every buck!
24 Hour Support
Diverse Deposit Methods
Simple User Interface
Numerous Trading Assets
No Sunday Support
|Full Name||Xtrade LTD.|
|Year and Place of Establishment||2008 in Cyprus|
|Regulators||CySEC, ASIC and 21 european regulatory authorizations|
|Trading Platform||Web-based, Mobile|
|Tradable Instruments||Currency pairs, Gold, Silver, Shares, Indices|
|Maximum Trade per Ticket (Standard Lots)||Unlimited|
|Deposit Methods||Bank Transfer, , Credit/ debit cards, UnionPay, CashU,Giropay, iDEAL, Moneta, Neteller, POLi,Skrill, Webmoney|
|Base Currencies||USD, EUR|
|Website Languages||English, Arabic, French, Italian, Spanish and Many More|
|Hedging, Scalping & News Trading Permitted||No|
|Server Time Zone||GM|