Xtrade is one of the world's most prominent financial trading websites. Since its inception more than a decade ago, the platform has steadily expanded to provide a diverse range of trading commodities. It facilitates trade payments, liquidity, and risk management.
Xtrade takes pride in providing some of the world's finest trading solutions using cutting-edge technology. It also offers unrivaled skill and institutional knowledge in global trading functionality. The trading platform also includes excellent customer service, different operational platforms, and a simplified trading process.
Xtrade has also had several amazing collaborations. It collaborated with Cristiano Ronaldo as the 2016–2017 ambassador. Such strategic relationships demonstrate the company's commitment to continuing to grow while providing world-class services.
Security
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Xtrade prioritizes security. The trading platform was founded in Cyprus and is registered with the Cyprus Securities and Exchange Commission. As a result, it is regulated by the Cyprus Security and Exchange Commission (CySEC), with registration number 248449.
The Australian Securities and Investments Commission regulates the broker for Australian users (ASIC). The Financial Services Authority (FCA) in the United Kingdom also regulates it on a worldwide scale. It is also registered with a number of different regulatory authorities, depending on the region in which it operates.
Because the trading platform is regulated by CySEC, the investors' funds are held in separate accounts. The separate accounts guarantee investors that their assets would be safe if the site goes bankrupt. Xtrade also conducts frequent audits to verify regulatory compliance.
The security of users' data is important to Xtrade. It provides a 256-bit Secured Socket Layer (SSL) on the platform for this purpose.
Platform for Trading
For the best user experience, Xtrade offers a highly intuitive user interface with the Xtrade WebTrader. The platform does not require the user to download it in order to use it, which adds to its convenience. It enables the trading of numerous commodities via quick transaction and order execution. The site also offers up-to-date market research and the ability to move between live and demo accounts with ease.
Xtrade also offers safe mobile access via a trading app. The software features real-time charting, notifications and alarms, simple navigation, and comprehensive functionality. When users are not connected to a desktop, they do not have to give up certain features.
Finally, Xtrade has a specialized tablet trading app. It has a sophisticated graphical interface, simple navigation, and an alert system. Deposits and other full capabilities are also available on the platform.
Withdrawal and Deposit
Xtrade offers safe and secure deposit options. It collaborates with a number of renowned financial service providers to make depositing easier. It protects consumer data by utilizing SSL encryption and doing frequent website testing. The security requirements protect the site from fraud and other forms of online financial crime.
The site accepts credit/debit card deposits as well as bank transfers. American Express, PayPal, and other common payment methods are also available to traders. It offers dependable customer service in the event of a deposit inquiry.
Xtrade only accepts deposits from accounts having the same name as the account holder. It rejects all payments from accounts with various names.
The minimum deposit varies according on the account type. The minimum deposit for a basic account, for example, is $250, whereas the minimum deposit for a premium account is $1000. The platinum level provides $5000, while the VIP level provides $20000.
Xtrade also strives for speedy and efficient withdrawals. Only authenticated accounts are permitted to withdraw. After an appropriateness assessment, the user verifies the account by submitting the required papers such as a government-issued ID/passport and proof of address. The platform retains the right to request additional documentation.
It takes up to 5 days to process a withdrawal request. This is significantly longer than most other brokers. The site also has a minimum balance, so you can't withdraw the entire available value.
Customer Support
Xtrade has one of the most dependable customer support departments in the trading industry. It offers highly responsive customer service that is available 24 hours a day, seven days a week. It also has a responsive live chat, email, and phone call feature.
The portal enables multinationals to trade by providing multilingual customer service. Customer service is also informed and pleasant. It also contains a frequently updated FAQ page for all of the most common concerns.
Education
When it comes to trader education, Xtrade does not hold back. It offers comprehensive training videos for novices. The films teach the user how to navigate the website and select commodities.
Aside from the videos, the website offers a variety of courses for both novice and experienced traders. It also includes a dictionary and a blog with industry news and information that is updated on a regular basis.
Fees
Trading on Xtrade is very economical because there are no deposit or withdrawal fees. It does, however, offer for predetermined spreads based on the commodity. It also includes overnight trading premium fees for traders who choose to use it.
On accounts that have been inactive for less than three months, the platform charges a monthly inactivity fee of $10. Otherwise, accounts that have been inactive for more than a year would be charged $60.
Instruments
Xtrade offers a wide selection of trading products and opportunities to any trader. Equity CFDs, such as shares of Google, Apple, Nike, JP, and others, are among the instruments available on the platform.
The CFDs are traded with a 5% starting margin.
Account Types
Xtrade recognizes that each trader has unique requirements. It does it by providing various accounts with a variety of provisions. These accounts ensure that a trader has a complete trading experience regardless of the account he or she picks.
The first account is the typical, with a $250 minimum deposit. The account includes daily video market evaluations as well as an economic calendar with all of the most recent market movements. It also offers customer service and a demo account.
The other account is the premium account, which requires a $1,000 minimum deposit. Among other high-end features, the account offers both mobile and desktop trading. It also includes a welcome bonus for new users. In addition, the account includes additional market data and a dedicated account manager.
Platinum is the other Xtrade account that has a $5,000 minimum deposit requirement. It includes all of the features included in the premium and basic editions, as well as many more. It comes with a senior account manager to help with any issues and to teach you how to use it.
Finally, the site offers a VIP account with a $20,000 minimum deposit. The account includes a variety of services such as an economic calendar, customer support, and market reports.
The VIP membership comes with a number of advantages, including speedier payment processing, personalized support, and exclusive corporate gifts.
Although there appear to be distinctions in the accounts, they all provide an excellent trading experience. They all include a variety of commodities as well as dependable support.
Advantages and disadvantages
Because of its numerous advantages, Xtrade has developed steadily throughout the years. It invests in a diverse range of commodities to provide a comprehensive trading experience. It also includes an easy-to-use platform for mobile and desktop access.
The trading platform includes a variety of trading tools as well as specialized client care. Finally, when compared to other trading platforms, Xtrade comes out on top.
Nonetheless, it has significant drawbacks that traders should consider before signing up. It includes fixed spreads, which may be prohibitively expensive for others. It also forbids some of the trading strategies, which limits the options for daring gamers.
Pros
- Diverse range of commodities
- Platforms that are user-friendly
- Various educational and research tools
- Customer service that is dependable
- Payment solutions that are both secure and quick
Cons
- Fixed spreads are expensive.
- Several trading strategies are prohibited.
Final Thoughts
Choosing a trading platform is a difficult undertaking. Most brokers who provide lower trading costs have restricted commodities and untrustworthy services. Outstanding services, on the other hand, come at a cost. Xtrade, on the other hand, strikes a balance between consumer needs and trading costs.
It provides a variety of trading commodities, dependable customer service, and educational materials. Xtrade is an excellent trading platform for anyone wishing to establish a name for themselves in the forex market.
