XTrade Forex Broker Overview

By on in Brokers

XTrade’s trademark is connecting counterparties with market-leading Traditional Trade for CFDs on shares, commodities, forex, and indices. XTrade offers its proprietary web-based and Mobile App trading management platforms, allowing clients to manage trade activities from purchase order to payment.

Know more about XTrade’s offerings, trading conditions, and features in this detailed broker review.

XTRADE Homepage

XTRADE Homepage

XTrade Background & Safety

Xtrade International Ltd operates the XTrade brand and is headquartered in Belize. Incepted with the goal of providing a regulated and friendly environment for traders around the world, XTrade is regulated and is fully compliant with the International Financial Services Commission in Belize.

Part of the broker’s regulatory obligations is to ensure client fund safety. Hence, XTrade client funds are segregated and safeguarded by reputable Credit Institutions. Additionally, Xtrade continuously monitors its operations in accordance with its regulatory requirements and submitting financial reports.

Prioritizing client information safety and privacy, Xtrade encrypts all transactions with the state-of-the-art 256-bit SSL Bank Standard Secure Socket Layer. Other security measures include a True-Site identity assurance seal, AICPA WebTrust compliance, and regular testing of the company website’s identity theft and credit card safeguards.

XTrade continues to expand its financial services offering, along with providing multi-language support, multi-currency and multiple payment methods, and advanced trading platforms. No wonder, the broker was recognized by several international award-giving bodies. These aspects, along with its decade-long experience in providing CFD products, make XTrade ready to keep in step with the leading brokers in the industry. 

XTrade services though, are not accessible in some countries including the UK and Canada.

XTrade Features & Fees

Markets Coverage

XTrade provides traders access to several asset classes in Contracts For Difference (CFDs) including 

  • forex (with 56 currency pairs – 19 majors, 9 minors, & 28 exotics)
  • commodities (Gold, Silver, Oil, Natural Gas, etc. with the contract value of one Commodity CFD equals the price quoted in the currency of the commodity)
  • shares (Apple, Google, Nike, JP Morgan, IBM, etc. with a 5% Initial Margin)
  • indices (S&P 500, Dow Jones, etc. with the contract value of one Index CFD equals the price quoted in the currency of the Index)
  • ETFs
  • bonds

Account Types

Through one Xtrade single account, you are able to trade across multiple devices that make no difference between the traders. This account can be upgraded to Premium Account with a $1,000 balance, Platinum Account with $5,000, and VIP Account $25,000 accordingly.

Trading features and conditions (including support, markets news, educational materials, and trading signals) do not change as you upgrade your account from one level to another, except for the spread reduction and additional education videos available for Platinum and VIP account holders.

Trading Fees

XTrade uses a fee structure with zero commissions and profits by utilizing variable spreads. A $50 inactivity fee is charged to accounts that are left unused for more than three months. XTrade also charges overnight premiums or swaps while leverage rates vary up to a maximum of 1:400.

Funding Methods

XTrade clients have a range of options for depositing and withdrawing funds. Credit/debit cards, bank transfers, American Express, PayPal, and Skrill are some of them.

The broker does not charge any deposit or withdrawal fee from its clients regardless of the funding method used. The method used in depositing funds should also be the method used for withdrawals.

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XTrade Trading Platforms & Tools

XTrade has its own proprietary trading platform in WebTrader, mobile app, and Tablet Trading App versions. 

The no-download XTrade WebTrader is accessible in 11 languages and offers 12 technical indicators, 4 chart styles, 9 time periods, and 17 analysis tools. The platform is also equipped with an economic calendar, news thread, and signal service.

Its mobile app version called, XTrade Online Trading, has a responsive user interface and features the same specifications provided by the web-based platform. It also enables one-touch trading with live prices, has charting options, analysis tools, notifications, Autochartist, economic calendar, and account funding options.

For research and other trading tools, XTrade has daily market analysis videos uploaded both to their website and YouTube channel and a set of calculator tools. Educational resources available are tutorials, online courses, e-books, PDFs, glossary, and blogs.

Bottom Line

XTrade possesses several trading advantages including having daily market analysis videos, several funding methods, zero commissions, and good trading platforms. However, traders who want to access the crypto market won’t probably choose XTrade as it has yet to add it to its market coverage. Also, the popular MetaTrader platforms are not available in this broker.