Detailed review on the broker Xtrade
In this article, we will present you broker Xtrade review, one of the most popular brokers. We will study the functionality, account types, trading conditions and other important aspects for traders.
What is Xtrade?
Xtrade is a well-known online broker.
It is distinguished by a wide list of trading instruments, methods of deposit and withdrawal of monetary assets, developed system of trading on contracts for difference. The broker has its own training school, where materials are combined into special courses.
In addition, the company can offer:
- Market analytics (Autochartist),
- Free demo account,
- Various promotional offers.
Brief company history
Xtrade broker is registered in Cyprus and operates under the jurisdiction of the globally recognized European financial regulator CySEC (strict compliance with MiFID Directive), which guarantees its customers reliability and up to €20,000 insurance compensation in case of broker bankruptcy.
Up to €20,000 insurance compensation in case of broker bankruptcy.
Xtrade has been registered since 2008 and serves customers from 140 countries.
A description of the core functionality
One of the most significant features of Xtrade is its trading platform Xtrade. Unlike most other brokers, refused the services of Meta Quotes and offered its clients its own trading solution - an innovative web terminal, allowing modern traders to fully realize their experience and trading ideas in online trading. We will describe the platform of this broker in more detail below.
The second feature of Xtrade is its focus on several financial markets. Xtrade is not just a forex broker with a good selection of currency pairs for trading. You will find a huge number of stock market assets (securities and indices) and a great selection of commodities. This feature is a positive feedback from the clients of this company.
Before starting trading on Xtrade platform, you have to observe and review in details the Terms & Agreement documents. You can find them on the Xtrade website in the Legal section.
Below is the section screenshot illustrating the list of the necessary documents:
Deposit and withdrawal of funds
Operating under CySEC regulation (MiFID compliant) and targeting customers in Western and Eastern Europe, Xtrade has taken great care of its customers and has provided an impressively wide range of deposit/withdrawal systems for their convenience:
Visa, Mastercard, UnionPay, American Express, DineroMail, Fast Bank, Abaqoos, AliPay, Astropay Card, Banklink, Boleto, CashU, DineroMail, eCard, eKonto, ePay, EPS, EUTeller, Giropay, Halcash, iDEAL, Lobanet, Mister Cash, Moneta, Multibanco, Neosurf, Neteller, PaySafeCard, POLi, Przelewy24, PayPal, QIWI, Skrill, Sofort, Sporopay, Teleingreso, Ticketsurf, Todito Cash, Webmoney, YandexMoney.
With such an arsenal of electronic payment systems, it is impossible to imagine the situation when the client cannot find deposit or withdrawal system, which adds credibility to this broker.
In turn, an impressive set of electronic payment systems at Xtrade shows that this broker is client-oriented. Such a company is wanted to be trusted.
As expected, deposit through the above systems in Xtrade is instant. Withdrawal - within three banking days. Real reviews show that the broker carries out payment operations strictly according to the declared regulations.
Xtrade account types
Xtrade offers the following account types:
Below you can see the details for each type of account:
|Minimum deposit amount||$250||$1,000||$5,000||$20,000|
|The ability to trade on your PC and smartphone||+||+||+||+|
|Daily video reviews of financial markets||+||+||+||+|
|Personal tutorial on the platform||+||+||+||+|
|24/5 client support||+||+||+||+|
|Exclusive welcome bonus||+||+||+|
|Personal account manager||+||+||+|
|Video Tutorials and e-books||+||+||+|
|VIP Support and personal account manager||+||+|
|VIP Bonuses on deposit||+||+|
|Individual trading strategy and support||+|
|Priority account management and payment processing||+|
Xtrade demo account
Xtrade provides both real and demo accounts. A demo account can be used prior to a live account as a test for the platform MT4 demo.
Beginner traders can also take advantage of trading with a demo account if they need more time to get ready to play with real money. All you have to do to use a demo account is sign up through the website - without depositing your own funds - and then you will receive some money to trade as a compliment from the broker. Keep in mind that a demo account is just a test, and you won't win or lose with it.
After Xtrade demo account registration the following page opens:
You can turn your demo account into real any time by clicking the “Switch to real mode” button.
Xtrade trading platforms
Xtrade offers both mobile and desktop trading. To go mobile, you can use the mobile version of the website as well as download an iOS or Android Xtrade app. They are suitable for both tablets and smartphones. Traditional desktop trading on the Xtrade website is supported by the most popular trading terminal, MetaTader4. It has a huge number of features as well as a very simple and intuitive interface.
Trading conditions of Xtrade broker
Trading with Xtrade is trivial, transparent and commission-free. When using Xtrade terminal the trader gets:
- Up-to-date display of quotes from at least 35 liquidity providers;
- Graphic display of asset prices in the form of candlesticks, "rocky mountains", lines and bars;
- The ability to partially change the color palette of the trading interface;
- Technical indicators: MACD, Stohastic and RSI;
- The means of technical analysis: levels, Gann and Fibonacci grids, trend channels, rays;
- Full screen quotes chart demonstration;
- Access to a minimum of 1,000 trading assets;
- Quickly search for the required asset;
- Multi-window support;
- Display of information about margin support of actual trading operations and trading results;
- Automated analysis - signals of rising and falling trading assets;
- History of financial operations.
As for the buy/sell prices of the available instruments, they are displayed on the main page of the Xtrade platform. When you open a buy order, the terminal will help you add an order for stop-loss or profit limitation to protect your position and funds.
The broker's clients are also offered a handy multi-asset trading application. Its peculiarity is the intuitive interface and full functionality.
You can build charts online using the best technical indicators and a rich list of trading tools. Traders get access to alerts, signals, ergonomic one-click navigation and professional charting tools.
Trading instruments of Xtrade online broker
The number of Xtrade trading assets exceeds 1,000. Xtrade broker is advanced not only to trade forex, but to other directions like stock, commodity and currency markets. Clients are offered the maximum leverage of 1:400 and optimal prices from well-known liquidity providers, which include:
- Bank of Tokyo Mitsubishi;
- Morgan Stanley;
- Goldman Sachs.
The total number of suppliers is over 35. As a result traders are provided with optimal market quotations and STP interbank trading without any dealer intervention. This guarantees fair execution of orders and absence of conflict of interests between the company and its users.
Among the trading instruments are presented:
- Shares - Apple, Nike, IBM, Google, JP Morgan, etc.
- Currency pairs - EUR/USD, USD/JPY, etc.
- CFD stock indices - Dow Jones, S&P 500;
- CFD - silver, oil, gold, natural gas.
Overview of market prices online is an additional opportunity for traders provided by the dealing center. A small fixed premium in case of buy/sell is applied to the average market price to get the price presented on the Xtrade platform.
Basic strategies to get results on Xtrade
|Trending Strategy||Following the trend is considered one of the most correct and reliable ways to invest in securities in the medium and long term. Trend-following strategies use specific indicators to determine the beginning of a new trend. Trend strategy implies entering the market on the signal of a certain technical indicator (moving averages, overcoming the previous maximum/minimum, head and shoulders figure, etc.) in the direction of market movement. To put it simply, market grows - we buy, market falls - we sell.The strategy of trading on the trend line and in the trend channel is a waiting strategy.|
|Trading on the news||Trading on the news involves opening trades in anticipation of important economic statistics, which will lead to an increase or decrease in the value of the asset, and allows you to earn on the increasing volatility of the market and trend impulses. The implementation of the strategy does not require any special preliminary preparation, that's why it is used by both beginners and professional traders. It is important to have current economic and financial calendars so as not to miss any events that can have significant effect on the market. You also need to anticipate investor behavior when the news is released and make quick decisions.|
|Simple Scalping Strategy||The strategy assumes large profits in a short period of time: trades are opened literally for a few minutes. It is used to make quick profits. But the risks are also high. When scalping, lightning-fast evaluation of the situation is important. If you have been evaluating the possibility of entering the market for more than 3 seconds, you have missed a profit.- The optimum time for trading is between the opening of the London session and the end of the Japanese session; - We do not trade in the flat market and during news releases; - We open when the price is between the orange and red lower lines;- The stop-loss is set no more than 3%; At a mirror situation in the market we make the sale in the same way|
In conclusion, we can say that Xtrade broker is a stable, sustainable and reliable company, which is its advantage over many other companies. This broker meets the high level of service standards. Numerous promotional activities of Xtrade gives the opportunity to get favorable conditions for the conclusion of the agreements. The company is regulated by the International Financial Services Commission of Belize, which makes it possible to trade on the global financial market without fear of financial fraud. Altogether, Xtrade broker is one of the leading and most stable companies in the international financial sector.
Overall positive and negative sides of Xtrade broker
|Advantages of Xtrade||Disadvantages of Xtrade|
|Wide range of deposit/withdrawal options||Impossibility to use automatictrading advisors|
|Leverage up to 1:400||No PAMM accounts|
|Reliable regulation||No weekend trading available|
|Free demo account|
|No deposit bonuses for registration|