Xtrade is the leading CFD broker. CFD (Contract for Difference) stands for a tradable instrument reflecting the movement of assets involved and is simply a client-broker contract. If you want to join or change your online Forex platform, this Xtrade Forex broker review could help you immensely with making your first steps.
Xtrade was established 13 years ago, in 2003. Being in the broker market for so long, they are the true experts in Forex trading. The broker company is seated in Cyprus and is officially licensed to operate.
They trade in more than fifty major and minor currency pairs and close to 100 countries including the United States, UK, Spain, Italy, and France. This makes them a reliable and experienced broker that meets and cares about their client’s needs.
Xtrade General Info
The platform is one of the most attractive to Forex traders since it is easy to use and is user-friendly. There is a system in place that regulates secure financial transactions and protects personal and financial data.
Xtrade ensured the regulation in more than 140 locations across Europe, Australia, etc. The only market they exclude is the US one. Customers from the USA, unfortunately, cannot access or use the platform.
The company offers its unique Xtrade mobile app to its clients who want to be able to access the market anytime and anywhere. You can download the Xtrade mobile app to your Windows, Android, and iOS tablets and smartphones.
The platform lets you set your own parameters aimed at securing profit and reducing loss. These are Close at Profit, Close at Loss, and Buy when Rate is options. The platform requires a minimum deposit of $100 payable via Credit Card, Bank Transfer, Skrill, Sofort, etc.
One important thing to keep in mind when choosing your broker is checking if they have a license. Only fully licensed and legitimate brokers are worth your time and money, and Xtrade definitely belongs to this category.
Xtrade Trading Platform: MetaTrader 4
MetaTrader 4 is the online platform of Xtrade. They only have one top-notch platform which counts millions of users and has a great reputation. It is equally suitable for beginners and experts alike thanks to its simple yet highly customizable interface.
The MetaTrader 4 also offers a demo account for the inexperienced users. You need to provide your details to register, and subsequently, you can start Forex trading with virtual money for practice.
The high-quality MetaTrader 4 has two apps:
- market watch app with currency pairs
- graphic app displaying charts with the trends movements
Meta Trader 4 does not charge any fees or commissions. Only the spread, i.e. the difference between the bid and the asking price is charged.
Do not forget that besides the PC download you can also download the Xtrade mobile app to your device and always stay in the loop regardless of where you are.
Account Types
There are two possibilities when opening an account with Xtrade Forex Broker.
- The Standard Account requires a deposit of $100 with no further commissions for the deposit. The leverage is 1:400. This standard package account is recommended to beginners.
Leverage is the amount of money one can borrow, proportionally to the money one owns). The spreads are usually from 4 to 6. A spread is a difference between the asking and the bidding price.
- The platform also offers a Premium Account. Available to customers depositing $1,000 or more, it is a great fit for experienced traders. It offers special VIP services, better spreads, and the same leverage as the Standard Account.
Xtrade Support and Banking
If you should have any questions, concerns, comments, or inquiries that this Xtrade review doesn’t offer answers to, contact the customer support service and assistance via e-mail or phone.
The friendly staff will assist with any issues you might have encountered. The customer support is available in multiple languages like German, French, Arabic, Russia, Portuguese, around the clock. Do not hesitate to contact them if there is anything unclear or confusing.
As for the banking options, you can open and fund your account using the following currency payments CAD, EUR, JPY, CHF, and USD. Payments are accepted via Skrill, credit cards, UnionPay, WebMoney and others.
When it comes to withdrawals, it is good to know that these are very fast with Xtrade, provided you’ve delivered all the necessary documents and fully verified your account. Most banking methods used for deposits also work for withdrawals.
Appealing Xtrade Bonus Offer & Promos
The last (but not the least) worth mentioning in this Xtrade review is their bonus offer. A high-quality platform usually offers bonuses and incentives to its clients, and the Xtrade platform does not deviate from that rule.
There is a $20 no deposit bonus available to all new customers to let them have a taste of the real thing before committing any of their hard-earned money. This lets you test the waters and is especially useful for those completely new to Forex trading.
The learning center is another highly useful resource that you get to access completely free of charge. The center contains answers to many questions and dilemmas that new and even more experienced traders may have.
Conclusion
We sincerely hope that this Xtrade Broker review helped you understand the professional treatment of clients under the wing of the Xtrade community. The platform has established a solid reputation over the years and offers top-notch options and possibilities to its clients involved in the Forex market.
From Xtrade mobile app to resourceful knowledge center and generous Xtrade bonus, you will be treated right. Whether you are an experienced financial wizard or a new customer making his first steps in the world of Forex trading, Xtrade will make you feel welcome and help you every step along the way.
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