Xtrade Review

Xtrade is a forex broker that is recognised internationally. It’s a trading name of a financial services provider XFR Financial Ltd. It’s regulated by CySEC. Besides that, Xtrade offers its services in some EEA countries as well. 

Xtrade started offering their services in 2010, and since then, they really have grown fast. They have clients from 240 countries. After Cristiano Ronaldo became their ambassador, they gained even more recognition. 

Xtrade Pros and Cons

Is Xtrade Secure?

Since Xtrade is regulated by FSC, FSCA, OFA, it’s definitely a secure place to trade on.

Markets and Products

There are over 400 trading instruments to choose from at Xtrade. You can trade:

• Shares
• Forex
• Commodities
• Indices
• Cryptocurrencies
• Bonds
• ETFs

The leverage is up to 400:1, and it can’t be changed.

Xtrade Fees and Charges

Xtrade doesn’t mention charging any fees.

Xtrade Account Types & Account Opening

At Xtrade, you have the option to make a demo account for free. This is a great thing if you want to check everything out before you decide if the platform is for you or not. You don’t need to make a deposit, after registration you get the demo account to play with. The registration process is easy.

If you end up liking the platform, you can buy a live account. The minimum amount is $100. It’s perfect for beginners. There are no commissions on trades. Xtrade makes their money through spreads. The minimum spreads start at 2 pips for currency pairs. It goes up at 4 pips for CFDs. This is actually quite high.

Trading Platforms

At Xtrade you can use the browser-based web platform. It offers many features and trading tools to make your trading experience as good as possible. You don’t have to download anything. With it, you can easily access the best market analysis.

Mobile App

When it comes to trading on the go, there is good news. There’s an app you can download on Android and iOs devices. You can enjoy alerts, notifications, one-click navigations and many more features and tools. If you prefer using your tablet, worry not. There’s an app with an advanced graphical interface. 

Xtrade Research Tools

Regarding the research tools there’s an Economic calendar and Calculators. The Economic calendar has a schedule of events and data releases that impact the markets. The Calculator helps you evaluate and manage various aspects of your trades.

Xtrade Educational Content

Xtrade offers a huge amount of educational content for you. Whatever type of education you prefer, from E-books, Video curses or Blog posts. These are great for all types of traders no matter their skills. 

Customer Service Overview

It’s always good news to hear that a broker is offering customer support 24 hours a day. There’s a break over the weekend, but during the trading week? Always open! You can contact the support via:

• Phone: +44 203 8074001
• Live Chat
• Email: support@xtrade.com

Xtrade Deposit and Withdrawals

The deposit and withdrawal options XTrade offers depend on the region you’re from. But, Credit/Debit cards and Bank transfers are mostly used. What needs to be mentioned is if you deposited funds with a credit card. The withdrawals will be returned to the same card. Same goes for Bank transfers.

If you want to request a withdrawal simply:

• Log in
• Click the “Withdraw” on the main page
• Enter the amount you want
• You’ll receive an email of confirmation

Xtrade Online User Reviews and Ratings

Xtrade has 4.4 stars out of 339 reviews on Trustpilot. Majority of them, 55% to be precise, are 5-star reviews. Users praise the customer support, and transparency. While 13% are 1-star reviews. 

Author Opinion on Xtrade

Xtrade is pretty solid in the forex world. They’re regulated by important authorities like FSC, FSCA, and OFA. This means your money is safe. You might’ve seen Cristiano Ronaldo promoting them – smart move on their part! They also make it super easy to get started with a free demo account (always a good idea to practice first) and a really nice mobile app that actually works well.

But here’s the thing – it’s not all perfect. The spreads are kind of high – we’re talking 2 pips for forex pairs and up to 4 for CFDs. If you’re watching every penny on your trades, that might be a bit much.

They do nail it with their learning resources though. If you’re new to trading or just do it casually, Xtrade’s probably a good bet. But if you’re a seasoned trader who needs more control and lower costs, you might want to look elsewhere.

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