This contrasts with brokers like FXCM or Forex.com, which benefit from a wide range of global licenses. This could raise concerns for traders who prioritize operating in a highly regulated environment. To open a live account with Xtrade, you need to visit their official website and click on the “Open Account” or “Sign Up” button. From there, you will be asked to provide personal details such as your name, email address, phone number, country, and account type. After choosing your account type, you will need to verify your identity by submitting the necessary documents, such as a passport or a utility bill, to comply with regulatory requirements.
- The inbuilt charting platform is also very limited and makes it almost impossible to apply technical tools and indicators to the charts.
- Whilst we try to keep information accurate and up to date, things can change without notice and therefore you should do your own research.
- If you have experience trading with XTrade please share your personal review of the broker and what you think are strong and weak points.
How to Open Xtrade Live Account?
The minimum size of the fundamental trading account is limited to a minimum of 250 US dollars. Numerous international acts regulating the company’s activities require transparency and compliance with anti-money laundering norms. For this reason, registering a demo account will require you to provide your name and accurate phone number and to start trading on a real account – go through verification. Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries.
Best Trading App 2025
However, it is worth noting that Xtrade occasionally offers promotional deals where the minimum deposit threshold may be reduced. This can be an excellent opportunity for new traders to start trading with less initial capital. We recommend keeping an eye on the broker’s current promotions and offers to take advantage of favorable conditions for creating.
How do I open an account with Xtrade?
To evaluate brokers, we test the accounts, trading tools and services provided. Over 200 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process. 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 offers a wide range of financial instruments to trade, including forex currency pairs, commodities, indices, and shares. The company offers over 1,000 tradable assets, with competitive spreads and low commissions.
He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA). According to my observations this is a globally renowned broker and it’s not surprising. Guys are dedicated pros and providing trading services, lmao, two decades in the business.
In conclusion, Xtrade is an online broker is xtrade legit that offers forex and CFD trading on various instruments, such as indices, commodities, shares, ETFs, and bonds. Xtrade provides a user-friendly and innovative trading platform, as well as a range of educational resources, market analysis, and account options for traders of different levels and needs. Xtrade also holds licenses from multiple regulators across different jurisdictions, which ensures a high level of security and transparency for its clients. However, Xtrade also has some drawbacks and risks, such as high fixed spreads, inactivity fees, dormant account fees, and limited customer support. Therefore, it is advisable to read and understand the terms and conditions of Xtrade before opening an account and trading with them. Moreover, it is important to note that there are other brokers with longer track records that might be worth considering as alternative options.
Review Methodology
The mobile application has improved significantly and the integration of trading signals is implemented well. Moreover, the broker does not offer solutions like copy trading or MAM/PAMM accounts, which are typically used for passive or managed investment strategies. While Xtrade provides a range of trading instruments, it is not a platform tailored for traditional investment options, such as holding long-term stock portfolios or futures. Additionally, the broker maintains a blog that features market insights, trading tips, and updates on economic trends.
This diverse selection caters to a broad spectrum of trading strategies, allowing traders to capitalize on market movements across various sectors and financial instruments. Overall, Xtrade’s fees are competitive within the industry, particularly for traders who do not require advanced tools or additional services. However, for those relying on variable spreads, the fixed-spread model may not always offer the tightest pricing in certain market conditions.
Instead, the broker generates its revenue primarily through the spread, which varies depending on the account type. This account includes premium features such as dedicated account management, priority support, and possibly faster execution speeds. The VIP Account is ideal for traders who demand the best trading conditions and additional privileges to enhance their trading efficiency. While this is a decent range for forex trading, the total number of tradeable symbols is below the industry average of 3,623. Most traders choose to invest and trade at licensed and regulated broker instead of a scam broker. Traditional investors will find the industry standard MetaTrader4 platform.
Additionally, traders should consider other potential costs like inactivity fees if they do not trade for an extended period. Additionally, Xtrade does not charge any deposit or withdrawal fees, making transactions smoother for traders. A key concern is its regulatory status, as it is licensed only by the FSC and FSCA, which may not provide the same level of oversight as other regulatory bodies such as CySEC or ASIC. This might be a disadvantage for traders seeking more robust regulatory protection. Moreover, some traders may find that the broker lacks advanced trading tools and features offered by other brokers, limiting their trading experience. The Xtrade WebTrader is a browser-based platform that does not require any download or installation.
Information provided by various external sources
There are multiple account types available that are sorted into tier lists with increasing minimum deposit requirements. The differences between these types of accounts are mainly the initial funding amounts and extra services offered by the broker for higher tiers. Despite its regulation, there have been some user complaints about XTrade regarding delayed withdrawals, hidden fees, and poor customer support.
These educational tools aim to support novice traders in navigating the complexities of the financial markets. Xtrade provides a variety of educational resources to help traders enhance their knowledge and skills. Spreads for the Standard Account at Xtrade are generally higher, averaging between 2-5 pips, while the Premium, Platinum, and VIP Accounts offer more competitive spreads, starting from 3 and 2 pips. However, the fixed spread structure might not be as favorable for traders who prefer variable spreads, as these can provide tighter pricing during certain market conditions. Firm’s he has worked at include big banks like Citi, and prominent hedge funds including D. No, XTrade only offers its own proprietary trading platform designed for browser-based trading.
- This does mean, however, that less favourable spreads can’t be avoided like they can with many tiered account structures.
- It requires a minimum deposit of $50,000 and provides the most competitive trading conditions, with spreads starting from 2 pips on major Forex pairs like EUR/USD.
- Traders can easily access the best market analyses available and speedily execute trades and orders.
- It delivers a powerful in-house trading platform that complements its institutional strength, practical expertise, comprehensive technology, and unparalleled network.
The minimum deposit amount is $100, and the minimum withdrawal amount is $20. Xtrade provides a comprehensive education center under the appropriate e-link on its website. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus. CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument. The broker connects counterparties with market-leading traditional trade for CFDs on shares, commodities, forex, and indices.
