To summarise the Xtrade review, the broker provides traders with stable and reliable trading conditions. Their main focus is on a fixed spread with no hidden costs, a strong web-based platform, and a wide range of trading products. As a regulated broker, the organization follows strict rules regarding client protection, fund security, and a secure trading environment.
- The margin call level is 30% and if you are up to some more advanced trading approach, try scalping, because XTrade has that option.
- Deposit and withdrawal are fast and mostly free, and multiple options are available including credit/debit cards and electronic wallets.
- Processing CFDs requires an entirely different back office and software protocols.
- Nevertheless, I try to be cautious because I know once I lose control, scams can take my money.
The overall rating of a company is something that can be used as a general reference to a company’s standing. When it comes to withdrawals, this company has a bit of a lengthy process. According to their policies, three conditions are required to process a https://cryptominer.services/ withdrawal. XTrade is an offshore Forex Broker that offers Forex and CFD trading services. They were established in 2003 and are registered in Belize at No.5 Cork Street, Belize City, Belize. They have additional offices in Cyprus, Israel and Australia.
Our sophisticated, web-based and mobile app trading management platform, allowing clients to manage trade activities from purchase order to payment. On the plus side, XTB’s forex CFD fees are low, while many European clients can enjoy commission-free stock and ETF trading up to a €100,000 monthly trade volume. We also liked that the deposit and withdrawal process is fast and mostly free. The account opening process is seamless, hassle-free and quick. Xtrade has one of the best customer service teams in the industry. The customer support team is available 24/6, attending to customer’s needs at all times of the day.
How To Recover From Scams
The more trading volume I use, the more ppints and the more cashback I get at the end of the day, which saves a lot of money spent for brokerage commissions. It took me about a month to understand the most detailed etoro uk review for 2021 that I’m dealing with a genuine broker. I always worry each time I start working with a new broker because I’m afraid to be victimized by a scam and lose money for a non-trading reason.
Similar to deposits XTrade does not charge internal withdrawal fees, however local transfers will add on processing fee as defined by the payment provider. One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too.
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Fast order execution is sometimes the difference between success and loss in the trading scene, and Xtrade ensures orders are executed instantly. To achieve our aim, we had to open a live trading account on the platform and funded it with real cash. We proceeded to review and test some of the leading services available on Xtrade. After our analysis, we wrote this comprehensive review, detailing every aspect of the company’s services. The contents of this review are 100% unbiased, reliable, and discusses everything you need to know about Xtrade before you decide to partner with them. The free Demo account that the company offers is ideal for those who want to practice trading in a risk-free environment before opening a Live account.
The platform is available in 11 languages and also offers various educational tools. The company does not provide its services to traders in the Canada and USA. Xtrade has become a reputable CFD broker, with over a decade experience under its belt. The company’s main objective is to make it easy for everyone to trade financial assets. The number one service we looked into was their customer support system.
We spent nearly half an hour just to be able to communicate with one of their agents. This is something that they need to improve so for now we are giving them a Support score of 10/15. XTrade Europe Ltd. is licensed and regulated by the Cyprus Securities and Exchange Commission for services in Europe. XTrade International Ltd. is licensed and regulated by the International Financial Services Commission in Belize.
Traders should trade with well-regulated brokers and reputable brokers. No matter what trading products you find in the Trident Global Financial Group reviews, please make sure that they have obtained permission to trade the products they offer. Obviously, Trident Global Financial Group did not do any of the above, and can not even be regarded as a broker, but just a scam in the foreign exchange market. Trident Global Financial Group hides most of the trading conditions and raises suspicion. In summary, regardless of the trading conditions provided by Trident Global Financial Group, we do not recommend that you trade with it, because it is not regulated and may be a scam.
Xtrade Review 2020
The platinum account has a minimum deposit sum of $5,000. They offer an exclusive welcome bonus and a VIP bonus for platinum account users on Xtrade, with the bonus coming as either cash or credit. Traders here can use the MT4 trading platform, which comes with various tools to ease trading. The Autochartist Market Alerts, Reports, and Forecasts give traders further insights into the markets and how they can take advantage of any market movements.
You can replenish the deposit in any way without any commission and through online banking and electronic payments. I have been working with the Xtrade broker for two years. At first I traded small https://cryptonews.wiki/ amounts, with varying success. I started to receive training at the website, read articles and understood analytics. I have been sharpening all my skills and strategies on a demo account.
The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority . In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to regularly disclose its financials. I made the final decision to stay with this broker after a two-month test period. This was enough for me to make sure that I’m not dealing with another fraudulent project.
After the demo account I opened a real account for $400. In the beginning I was not used to it and I made mistakes, but with time I got my work together. Now I already have $700 on my account, it’s not much, but I don’t trade large sums either. X-Trade Brokers X-Trade Brokers does not differentiate between traders and offers only one account type for all trading. All traders get access to the full range of instruments, web and mobile platforms, and the educational center. A forex broker is a financial services firm that offers its clients the ability to trade foreign currencies.
To do so, click the icon on the top right corner, select “Deposit” and follow the instructions. To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why XTRADE is a dangerous broker to deal with. We go beyond the quantities or amounts to make a real and measurable review that is based not just on the pros but also on the cons. A minimum account size of $100 is needed in order to open an account be able to trade.
XTB charges no withdrawal fees if the amount is above a certain treshold ($50-$200 depending on your country of residence). The fee charged for credit/debit card or electronic wallet deposits depends on your country of residence. The fee charged for these transfers is usually up to 2%. For example, for UK customers, credit/debit card transfers are free of charge but USD transfers via electronic wallets carry a 2% fee. XTB is a global CFD broker with headquarters in London and Warsaw, founded in 2002.
That’s the first broker I tried to trade government bonds with. Perhaps, the best thing that I like with this broker is that it gave me an opportunity to try something new. I decided to try these assets once I read an article about these instruments on the official site of the broker.
I have good trading experience, but I only know a couple of honest brokers, one of them is xtrade broker. Precisely because I trust the broker, I have a platinum account here with a minimum deposit of $5000. This account gives me reduced spreads, a personal account manager, and access to tutorials. I don’t think its fair that the size of the spread depends on the size of deposit though. I really can’t understand how it’s possible because a demo account is just a toy with virtual currencies.
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In comparison to Xtrade, the minimum deposit guarantee for eToro traders extends up to GBP 50,000 as per the UK’s Financial Services Compensation Scheme and 20,000 Euros under the ICF of CySEC. The minimum deposit is just USD 50, as against USD 200 in the case of Xtrade. Additionally, eToro runs ops through its WebTrader platform and has a friendly app version. WebTrader comes with a variety of features such as one-click trading, take profit and Trailing Stop Loss orders. Xtrade withdrawal fees may be nil, but that’s not the only advantage. Xtrade offers nearly forty payment methods for funding the account, USD 200 being the minimum amount required.
My 250$ has gone and they will block you from reaching them through any means but immediately you put a withdrawal request to them them will call you and pursued you to make more deposit. In addition to the above, the website states that withdrawal requests can take up to five business days, or in extreme cases, up to 3 weeks! That kind of policy could be considered a scam even if XTrade wasn’t a proven scam broker. This is also something you won’t find on your average XTrade review. XTrade is exceptional when it comes to funding your account. They offer a wide variety of payment options on their website, these include Visa/Mastercard, and over 60 other methods of payment.
Our #1 Top Rated Broker
If Xtrade does not meet your trading needs, take the time to check other reputable brokers in the industry before you sign up. Other scams and warning signs exist when brokers won’t allow the withdrawal of monies from investor accounts, or when problems exist within the trading platform. For example, can you enter or exit a trade during volatile market action after an economic announcement? If you can’t withdraw money, warning signs should flash.
Is Xtrade A Market Maker?
We recommend that our readers not trade with this broker and if you have an open account with this company, we suggest you try to withdraw your funds as soon as possible. However, once I started to trade here I started international coffee organization report 2021 to pay more attention to other things such ETFs and government bonds. As of now I still mostly trade indices as well as currency pairs, but I also added government bonds and ETFs to my list of favorites.
The company allows traders to have access to hundreds of financial instruments from the stock, crypto, forex, commodities, CFDs, and indices markets. In exchange, Xtrade charges customers for the services they offer to them via trading and other fees. The Xtrade brokerage is a unique trading platform because of the services it offers. Their customer support agents are also on hand to help traders out whenever they encounter problems with their accounts.