Trading nowadays can be very challenging and time-consuming if you’re not able to find the ideal broker that meets your needs. In our XTrade review, we’ll thoroughly explain the functionality of this multi-asset trading platform, keeping in mind the demands of traders in 2021. This breakdown of the broker’s key features, Pros, and Cons, and Security will help you make the right decision.
Without further ado let’s dive deep into XTrade Review.
What is XTrade?
XTrade is a globally recognized online financial trading platform, founded in 2003, while recently headquarters in Australia. At present, this multi-asset broker offers a wide range of financial instruments with the likes of Forex trading, Indices, and CFDs trading.
The broker is very popular for continuously increasing its range by adding some of the most popular Cryptocurrencies like Bitcoin, Litecoin, Ethereum, Dash, and Ripple.
XTrade as a platform is available in over 190 countries globally. With a customer base of over 10,000 users in countries like the UK, South Africa, Australia, Thailand, US, and Germany.
XTrade: Key Features
Account Types
One single XTrade account is enough for you to trade across multiple devices. It’s only the balance of your account which once reaches a certain amount, enables you to switch to either the Premium, Platinum, or VIP Account, depending on the balance amount. The demo account is also available for beginners to get familiar with the platform.
Fees And Commission
XTrade is known for offering impressive technical solutions for a better trading experience, along with no deposit or withdrawal fee, no commission but only fixed spreads.
Deposit and Withdrawal
The minimum deposit required to trade on XTrade is USD 200. And for deposit and withdrawal of funds, the users can choose from a variety of methods including Credit and Debit cards, Bank transfers, and PayPal.
Trading Platform
XTrade offers an online proprietary web trading platform along with industry leader MetaTrader4. It has a user-friendly design and login with price alerts and supports multiple languages. The XTrade platform is available for use on Mobile, Web, and Desktop.
Customer Support
XTrade has an impressive 24/5 customer support which enhances the overall trading experience. You can reach out to their team via live chats, phone calls, and emails.
Educational Resources
At XTrade, you can develop your trading skills and learn from various educational resources available and daily market reviews. In addition to this, you also get access to daily analysis videos, news feed, and other essentials for everyday trading.
Summary
- XTrade offers an intriguing online trading platform with features that are suitable for both beginners and seasoned traders.
- It has a multi-lingual approach to its platform, making it approachable and understandable to a wider range of clients.
- XTrade is available to use on multiple devices, all you need is an internet connection.
- The XTrade platform offers analysis of your investments and financial markets from expert analysts.
- It offers you comparison tools and financial charts.
XTrade: Pros And Cons
Pros
- Reliable broker with CySEC regulation.
- Wide range of instruments with easy deposit and withdrawal methods.
- Good trading platform with low spreads.
Cons
- It doesn’t have an Islamic account.
- No availability of 24/7 customer support.
Is the trade a Legit Broker?
There is a list of things that goes into consideration while determining how safe a broker is. One of which is its regulation and licensing details. In the case of XTrade, it is regulated by reputed organizations like the Cyprus Securities and Exchange Commission (CySEC).
Having a reputed regulatory authority provides confidence to the traders as it ensures that if by any chance the broker becomes insolvent, the clients will regain their investment through the concerned authority. Also, the brokerage firms have to comply with specific rules and regulations to get license approval. Therefore, the whole purpose of having a recognized regulatory authority is to provide a safe trading environment.
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