XTRADE Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-04-21 14:27

Abstract：Xtrade is an experienced online broker specializing in helping investors build diversified investment portfolios. Through Xtrade, investors can access multiple markets including CFDs, Indices, Commodities, Shares, Forex, ETFs, Bonds, and more on the Xtrade trading platform. Xtrade also provides demo accounts and 4 live accounts with leverage starting from 1:400 on Forex, and this broker says it offers 24/7 customer support. However, Xtrade still has risks due to some comments about its high trading spread.

XtradeReview Summary
Founded	2022-07-18
Registered Country/Region	Belize
Regulation	Exceeded(FSC)/Revoked(ASIC)/Suspicious Clone(CYSEC)
Market Instruments	CFDs, Indices, Commodities, Shares, Forex, ETFs, Bonds, and more
Demo Account	✅
Leverage	Up to 1:400
Spread	From 2 pips
Trading Platform	Xtrade(Web/Mobile/Tablet)
Min Deposit	$250(Standard account: $200)
Customer Support（24/7）	Email: info@xtrade-dm.net/support@xtrade-dm.net
	Tel: +852 58080622
	Fax: +61(2)99292055(Australia)/+44(0)2081049401(UK)
	Social Media: Facebook, Twitter, LinkedIn, Instagram, YouTube

Xtrade Information

　　Xtrade is an experienced online broker specializing in helping investors build diversified investment portfolios. Through Xtrade, investors can access multiple markets including CFDs, Indices, Commodities, Shares, Forex, ETFs, Bonds, and moreon the Xtradetrading platform. Xtrade also provides demo accounts and 4 live accounts with leverage starting from 1:400 on Forex, and this broker says it offers 24/7 customer support. However, Xtrade still has risks due to some comments about its high trading spread.

Pros and Cons

Pros	Cons
Leverage up to 1:400	Exceeded(FSC)/Revoked(ASIC)/Suspicious Clone(CYSEC)
Demo account available	Some negative Comments
24/7 customer support	Spreads from 2 pips
Various tradable instruments	MT4/MT5 available
accessible office website
First deposit bonus up to $5000

Is Xtrade Legit?

　　It is relatively safe for investors to conduct financial activities in regulated entities. The regulatory information of this broker is as follows:

Regulated Country	Regulated Authority	Regulated Entity	License Type	License Number	Current Status
	FSC	Xtrade International Ltd.	Common Financial Service License	IFSC/60/383/TS/15	Exceeded
	ASIC	Xtrade International Ltd	Market Making(MM)	343628	Revoked
	CYSEC	Merba Limited	Market Making(MM)	108/10	Suspicious Clone

What Can I Trade on Xtrade?

　　Traders can choose different investment directions because the broker provides traders with access toForex, CFDs, Indices, Commodities, Shares, ETFs, Bonds, and more.

Tradable Instruments	Supported
Forex	✔
CFDs	✔
Indices	✔
Commodities	✔
Shares	✔
ETFs	✔
Bonds	✔

Account Type

　　Xtrade offers four account types. Traders who own more deposits can choose a VIP account, while those with a small budget can open a Standard account. If you are in between, you can choose the Premium account or the Platinum account. In addition, the demo account is predominantly used to familiarize traders with the trading platform and for educational purposes only.

Account Type	Standard	Premium	Platinum	Vip
Minimum Deposit	$200	$1000	$5000	$25000
Minimum spread(EURUSD)	5 pips	3 pips	3 pips	2 pips
Commission Free Deposits	✔	✔	✔	✔
Demo account	✔	✔	✔	✔

Xtrade Fees

　　The spread is from 2 pips. The spread is more than 1pips, which is relatively high and the liquidity is relatively poor.

Leverage

　　The maximum leverage is 1:400 meaning that profits and losses are magnified as well as gains.

Trading Platform

　　Xtrade provides a Proprietary platform available for web, mobile, and print versions. Traders can choose the method that suits them to access and conduct trading-related activities.

Trading Platform	Supported	Available Devices	Suitable for
Xtrade APP	✔	Web, Mobile, Tablet	All traders

Deposit and Withdrawal

　　The minimum amount to deposit is 250 USD. Xtrade accepts credit/debit cards, bank transfers, American Express, and more options for deposits and withdrawals.

　　Withdrawal requests take up to five business days to process. Third-party withdrawal payment methods (i.e. credit card company, wire transfer bank, or intermediary bank delays) In extreme cases, delays of 3 weeks