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Editor Rating
- 4/5 – Very Good
- XTrade review
- Website: XTrade
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Review Summary:
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XTrade is an investment services provider, receiving and transmitting orders for its financial instruments. It is dedicated to executing orders for clients and to managing accounts.
Table of contents
XTrade bills itself as the #1 mobile trading app. In a world full of online trading brokers, that’s a tough selling point to live up to. Upon visiting the homepage everything looks straightforward. We actually found the trading platform and services to be as up-front as the company’s web design. Trading is easy and we never encountered any hidden charges during the process.
In fact, the buy and sell prices are available on the main page, even before you open an account. How’s that for transparency? Some of our newbie testers were able to figure things out, so you don’t have to be an experienced trader to get the hang of things. There are even practice accounts so you don’t even have to invest any money to get a feel for the market.
XTrade is different on many levels. For one, it does not charge a commission on trades. It uses fixed spreads on Forex trades instead, while traders can choose up to 1:50 in leverage increasing the potential for a higher return on investment. Trade commodities such as gold, oil silver, or work on the major stocks and indices.
Also, getting started doesn’t require much investment. The site only requires a minimum deposit of $100.
Read on for a more in depth look at XTrade and its features and opportunities.
About XTrade.com
Run by XFR Financial Ltd. and regulated by the Cyprus Securities Exchange Commission, XTrade is a Contracts for Differences (CFDs) trading broker. It is based in Cyprus. In addition, it is authorized to operate in Australia and registered with the COSNOB in Italy.
XTrade was founded in 2009. Serving clients in more than 140 countries and on five continents, it supports the trading of stocks, Forex, commodities, and indices. The company and platform are run by true financial market professionals. Based online, the system is flexible and fast, allowing people to trade anytime and no matter where they are connected.
The company is an investment services provider, receiving and transmitting orders for its financial instruments. It is dedicated to executing orders for clients and to managing accounts. Ancillary services are part of its legal authorization as well. XTrade is an administrator of financial instruments and tasked with the safekeeping and management of cash and collateral. Investors can also perform transactions via credits or loans granted by another firm involved in such a transaction.
A range of financial instruments are supported with the investment services provided. These include transferable securities and money market instruments as well as options, futures, swaps, and forward rate agreements. Your options are wide open if you want to set up a derivative contract related to currencies, securities, financial indices, or anything with an interest rate or yield settled in cash.
If this sounds confusing, just consider the instruments available you can trade on. If you opt to trade CFDs, the largest global markets are at your fingertips. Get real-time quotes from the USA, Spain, France, or Germany. Receive dividends, set automated limits, and close positions when an asset hits a set price. The tools offered by XTrade are perhaps the most flexible we’ve seen on the market.
Another thing about XTrade is all trading is treated like currency pairs. There is never any physical purchase or a sale of any particular commodity. You always get a direct look at current rates, value, required securities, and closing rates. Automatically set to buy a commodity at a particular rate. XTrade’s platform is as simple as it gets.
Top Features of XTrade.com
Platform: As a trader, you have access to the WebTrader platform. You can view financial instrument details, candlestick charts, account details, and switch financial instruments all on a single dashboard-like screen. Place a Stop Loss Order and it will close as an instrument reaches a desired price, creating a Market Order triggering XTrade to close the position as near as possible.
We also found the Take Profit Order feature to be useful. It closes a position when an instrument hits a set price and serves as an additional layer of protection.
The WebTrader platform requires no download. You can also click on “Real money” and “Demo” modes as you get started and access the entire system just with an Internet connection. It lets you trade with a selection of risk or you can proceed with none at all.
A mobile platform for iPhones, iPads, and Android devices is available. It’s also available for Windows phones and includes the same features as WebTrader. The end result is you can trade any asset and access all tools and historical data via mobile.
Accounts/Promotions
XTrade is not one of the many binary options brokers on the Web, nor does it offer a confusing array of account options to pick from. You just start an account and that’s it. Fund it with a credit card, PayPal, Skrill, or wire transfer.
Margins: An initial margin of 5% is required with CFD trading, while there’s a maintenance margin of 2.5%. You’re probably scratching your head if you’re a beginner. It means you can invest $10,000 and trade shares of a much higher value, and buy or sell at market rates, use a stop loss limit, or a take profit order on shares of about $200,000 with your investment.
Leverage/Spread: With XTrade you can expect a 20:1 leverage, letting you buy or sell shares at 20 times less than market prices. Actual margin requirements change with asset value. The good thing is the most current details are presented on a pop-up as you pick a CFD asset to trade.
Tools: Detailed graphs and analytics are updated constantly and presented as soon as you click on an asset, share, financial instrument, etc. Even select time frames and chart types. It’s also possible to easily zoom in and out of charts on the website.
Trading Info: The Trading Info section of the website has a wealth of infromation about CFDs and using XTrade. Learn major concepts in trading with insight into opening and closing positions, leverage and margin, risk control and order types, instrument types and pricing, and other details on pricing, accounts, and payments. All information is clearly presented.
Education: What seems like an extension of the Trading Info page is the Education section. Here you’ll find a basic introduction to Forex and insights on learning Forex training. Other segments include CFD Trading in Australia, Online CFD Trading, and more in depth information into the Forex market and currency trading.
The education section also provides an article with considerations on foreign currency investments. Learn more about CFD trading platforms, Forex strategies, foreign exchange signals, and how to use a Forex calculator. The advantages of Forex currency converters, calculators, charts, and signals are also explained.
The basis of the education section is to gain an understanding of underlying principles and tools. With these, you can learn how to go about trading and using the tools and market conditions to your advantage. Read through the content and you’ll know how important reading the news and signals is to make trading decisions based on market conditions, trends, current events, weather, or elections.
Customer Support
You can contact XTrade by phone, email, chat, or fax. Internationally, you must use a UK phone or fax number but you can also contact satellite offices around the world. There are also separate email addresses for support, general inquiries, billing, marketing, affiliates, and others. An email contact for disputes and complaints is available too. The dispute resolution process is explicitly described on a PDF available at the bottom of the contact page.
The company has a dedicated client support team on hand. There’s somebody to help and answer your questions 24 hours a day, six days a week. If you’re looking for a satellite office, a scrollable dropdown menu will quickly get you to the right number. This is another perk to using XTrade from anywhere in the world.
The deceptively complex world of Forex and financial instrument trading can be navigated through education and informative up-to-the-minute tools. XTrade provides all of these and more. Beginners have a plethora of educational resources while even experienced traders can brush up on their knowledge. Trade from a desktop or mobile device and start with a small investment. Market prices, graphs, and analytics are readily available even if you don’t have an account. Starting a demo account has never been easier, so you can jump in the game without any experience. If you’ve been longing to get into Forex training and haven’t found a place to turn, XTrade may be the solution you’ve been waiting for all along.
