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 Verfasst am: 20. Feb 2023 07:38 Titel: XTrade Review 2023 |
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XTrade Review 2023
XTrade is a CySEC-regulated forex and CFD broker. To help you decide whether to open an online trading account, this review explores the broker’s platform, mobile app, minimum deposit, payment methods, and more.To get more news about xtrade review, you can visit wikifx.com official website.
XTrade Company Overview
The CFD investment broker is owned by XTrade Group Limited and is headquartered in Limassol, Cyprus. The company has several daughter brands, including XTrade Europe Ltd. and XTrade International Ltd that service clients from Dubai to Uruguay.
The broker was founded in 2003, has 15 offices worldwide, and is registered with over 10 regulatory agencies, including in Cyprus, the Philippines, Malaysia and the UAE. XTrade does not, however, provide services to the UK, Canada and some other countries.
XTrade WebTrader Platform
The proprietary web-based platform requires no download or installation. Even from the login page the design is intuitive for newcomers while the effective trading tools have helped the platform pick up multiple awards. It’s accessible in 11 languages and offers 12 technical indicators, 4 chart styles, 9 time periods, and 17 analysis tools. There is also an integrated economic calendar, news thread and a signals service.
Spreads & Commissions
XTrade uses a fee structure with zero commissions, only taking money from spreads. Spreads are variable, for example, GBP/USD spreads can range from 2.5 to 5 pips, EUR/USD ranges from 1.7 to 5 pips and EUR/GBP ranges from 3 to 5 pips.
Some user complaints highlight the $50 inactivity fee charged to accounts dormant for more than three months. Overnight premiums, or swaps, are also charged for positions that are held open after 22:00 GMT.
Leverage
Leverage rates vary up to a maximum of 1:400. The leverage levels for indices range from 1:20 to 1:200, commodities up to 1:10, forex pairs can be leveraged between 1:50 and 1:400 and stocks up to 1:5. Retail traders in EU-regulated markets, such as Germany, are capped at a leverage of 1:30, as per ESMA regulations.
Mobile Apps
The XTrade platform has also been developed for mobile use with iOS and Android smartphones and tablets.
Called ‘XTrade Online Trading’, the mobile app is easily installed, with a responsive user interface and much of the capability provided by the web-based platform.
The application allows one-touch trading with live prices, charting options, analysis tools, notifications and account funding options.
Many of the additional tools, such as Autochartist signals and economic calendar are also available on the mobile platform and receive good reviews.
Payment Methods
XTrade offers a wide range of payment methods that vary for clients from different countries. All clients are offered Visa and Mastercard payment card options as well as bank wire transfers.
There is a maximum deposit limit of $15,000 for payment cards, though there is no limit on wire transfers. Traders can use tens of domestic e-wallets and payment providers, including UnionPay and Neteller, each with their own maximum deposits.
There is a minimum deposit of $250, though this may be reduced during promotional events.
Withdrawals must be made using the same method as the deposit. However, if a deposit was made using an e-wallet, then withdrawals can be processed via bank transfer, Skrill or Neteller.
XTrade can take up to five days to process a withdrawal, though it may take longer to reach the target account as some payment providers take extra time to process. There are no deposit or withdrawal fees charged on the part of the broker. |
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