xCFD is relatively new in the Forex trading business, being established only three years ago, in 2013. The New Zealand based company is regulated by the Financial Services Complaints (FSC). A good regulation policy is always the best way to earn the trust of customers. The xCFD broker is known for a sound security policy, including data protection and safety of financial transaction executions.
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xCFD Trading Platform
xCFD uses an in-house developed platform. The advantage of an in-house platform is that it is custom-made and tailored to match the needs of customers precisely.
This xCFD trading platform enables an innovative approach to trading. All users have their own portfolio, under which they can trade all their products (stocks, securities, currencies and other commodities) just using one account. The platform is safe and offers stability due to a high-quality infrastructure.
- In-house developed, proprietary trading platform
- Personal portfolio for all xCFD clients
- No download required to use the platform
- Scalping and hedging available
The platform is powered by EXANTE and web-based, which means you log directly online without any downloads required. The platform supports Windows, Mac and Linux. Features that the platform includes are scalping and hedging. Scalping is the small price changes strategy which traders use to secure profit. They place up to 100 trades a day relying on the small movements of prices.
Hedging, on the other hand, refers to insuring yourself from negative events. If things start to go south, you are insured, and your profit will not be affected by the event. The platform excludes e-mail and SMS alerts, trading signals, and automated trading, which means that every move depends on you. Unlike many others who use services of independent trading platform providers, some new companies try to come up with their own custom made environments, just like xCFD.
Mobile Options
The xCFD mobile app supports iOS, Android, etc. Download the app to your phone and gain access to your trading any time you want. With mobile trading, you are one step behind in the business, because information in the market changes quickly and sometimes the situation calls for immediate action. With your phone, you acquire the information right on the spot, and you can plan your next move.
xCFD Offers Universal Trading Account for Everyone
Just like they have only one platform with distinct features that enable multi-product trade, xCFD also provides only one account type. A Demo account is provided for newcomers who want to try out the platform and become familiar with the market. New traders have access to $20,000 of virtual money at their disposal on the Demo account. The Demo account is free and requires no deposit.
xCFD Commissions, Spreads, and Leverage Policy
The advantage of this broker is that they offer extremely low spreads, e.g. as low as 0.5 for the USD/EUR pair. They are known for offering the lowest spreads which their customers use to their benefit. You should also know that no commission or fee is charged. Their leverage policy is somewhat restricted. In contrast to many brokers who offer leverages up to 1:500 and even more, the xCFD offers a maximum leverage of 1:200. This is not a bad offer, considering that high leverage means a higher risk of debt. They offer a variety of currency pairs, whereby the major pairs are the most popular, especially because of the low spreads.
Deposit, Withdrawals, and Bonuses with xCFD
After you switch to the universal live account, you will be required to make a minimum deposit of $10. This low deposit limit is a new feature as the required minimum used to be $100.
- Low minimum deposit limit of just $10
- Variety of different bonuses
- Refer a friend program
- Fast withdrawal processing times
They offer different bonuses, like the no deposit bonus of $30, first deposit bonus (50% of your deposit), as well as refer a friend bonus. The bonuses depend on the volume of trading and the deposit amount. xCFD withdrawals are processed very fast – within two work days (48 hours). They do not hinder the withdrawal process, which means they will pay you, i.e. let you take your profits, without making up any excuses.
Banking Options
xCFD has a well-regulated payment system. You can deposit and withdraw using Credit Cards, Moneybookers (Skrill), Wire Transfer, WebMoney, CashU, moneta.ru, Bitcoin and Neteller.
xCFD Customer Support
As every brokerage company, the xCFD broker also maintains a customer support service for their customers. One of the main features, according to customers, is a helpful and competent employee that will guide you to the solution of your problem. The xFCD customer support is friendly and polite, and moreover, they are competent and well-trained. They are available to help you out 24/7, which means that you can contact them even on weekends. They can be contacted via live chat, e-mail, and phone. If you should encounter a problem, the customer support will be there to help you, regardless if it concerns platform operation, registration, deposit, or withdrawal. The xCFD customer support is multi-lingual, but is only available in three languages so far; Russian, Chinese and, of course, English.
Conclusion: New Broker on the Rise
This xCFD review gives you a brief description of the xCFD broker and their business conduct, offers, and benefits for the clients. The company is well-reputed and highly professional which gives their customers the security they need. This is a highly risky market, and a good broker is crucial to your success. Going with the xCFD broker is one of the best business decisions you can make.