Xtrade, founded in 2003, is a prominent online trading platform owned by XFR Financial Ltd. The company is headquartered in Belize, with additional offices strategically located across various continents, providing services to clients in over 140 countries. Xtrade operates as a private entity, focusing primarily on retail forex and CFD trading.
The broker has evolved significantly since its inception, initially gaining recognition for its innovative approach to CFD trading. Over the years, Xtrade has expanded its offerings, introducing a wide range of financial instruments, including forex, commodities, indices, shares, and cryptocurrencies. A notable milestone in its marketing strategy was the partnership with football superstar Cristiano Ronaldo, who served as an ambassador from 2016 to 2017.
Xtrade's business model revolves around providing retail clients with access to global markets through its proprietary trading platform, which offers a user-friendly interface and a variety of trading tools. The broker aims to cater to both novice and experienced traders, facilitating a seamless trading experience.
Xtrade is regulated by several authorities, ensuring a degree of oversight and investor protection. The primary regulatory bodies include:
These licenses enable Xtrade to operate under the Markets in Financial Instruments Directive (MiFID II), which provides a framework for investment services across the European Economic Area.
Xtrade implements strict client fund protection measures, including the segregation of client funds in reputable banks, ensuring that traders' capital is safeguarded. The broker adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring clients to verify their identity and address before trading.
However, it is important to note that Xtrade's regulatory status has faced scrutiny, especially following the cancellation of its license by the Australian Securities and Investments Commission (ASIC), which has raised concerns regarding the broker's credibility and trustworthiness in the market.
Xtrade offers a diverse array of trading products, primarily through Contracts for Difference (CFDs). Key offerings include:
Xtrade continuously updates its product offerings, ensuring traders have access to the latest financial instruments. The broker is primarily focused on retail trading services, catering to individual traders rather than institutional clients.
Xtrade operates its proprietary trading platform, known as Xtrade WebTrader, which is designed for ease of use and accessibility. Unlike many brokers, Xtrade does not support popular platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5), which may limit options for traders accustomed to those platforms.
Traders can utilize various tools, including real-time charts, technical indicators, and an economic calendar, to enhance their trading strategies.
Xtrade offers several account types tailored to meet the needs of different traders:
Xtrade provides a demo account for traders to practice without risking real money. The broker offers leverage of up to 1:400, depending on the asset class, which can amplify both potential gains and losses.
Xtrade supports a variety of deposit and withdrawal methods, ensuring convenience for its clients:
Xtrade implements a transparent fee structure, with no deposit or withdrawal fees, although an inactivity fee of $50 per month applies to accounts that remain dormant for three months.
Xtrade provides robust customer support to assist traders with their inquiries:
The broker's commitment to education and support reflects its aim to empower traders, particularly those new to the financial markets.
Xtrade serves a global market, with a presence in numerous countries. However, certain regions are restricted from accessing its services:
This regional limitation is important for prospective clients to consider, ensuring they can access the platform's services based on their location.
In conclusion, Xtrade is a well-established broker that offers a range of trading products and services. With a proprietary trading platform, competitive spreads, and a commitment to client education, Xtrade aims to provide a comprehensive trading experience for its clients. However, potential traders should be mindful of its regulatory status and the associated risks before engaging with the platform.
SatoshiOkamoto
Japan
Leverage is not high, but I understand that for newer traders its risky, and the platform overall is catered to those who have enough money to be trading stocks or high lots in forex. If you want to just risk it all with 1000x leverage and 1000 yen, this is not the platform to do that with. They are more for stable traders, that log in almost every day and earn some small % profit. At least, thats what I think, after trading here for a few years now.
37130
06-17
TakumiTanaka
Japan
After using it for a while, I didn't quite understand it at first, but I have come to appreciate its goodness recently. It's simple and neat, but it has a unique look. Also, I thought it was good that when I inquired about something, I received a response in a few minutes. Since I don't have much time to devote to trading, I try to trade multiple stocks at once, which I think suits me. I only have one monitor, but I can display the necessary information on one screen. Also, it was too bright as it was, so I use it in night mode.
Positive
06-16
LiuJian-Hao
Taiwan
As I mentioned in the title. For gold, the spread is very small, half the time I can't even see it on the user interface. When trading forex, the spread for major currency pairs is less than 0.2 pips. Other brokers have at least 1 pip, so this seems to be the lowest spread here. The only downside is that I haven't found a way to implement robot trading here. But for trading with my own hands, this is a great platform.
37130
06-19