XTrade Review 2024

Last updated Feb 28, 2024
Логотип XTrade
3.3/5
№51 in the brokers' listTrading CFDs carries high risks. You may lose all invested funds
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

In this article, we will conduct a thorough review of XTrade and examine its main advantages and potential drawbacks so you can make an informed decision about whether to start working with them. Join us, and let's find out all the details!

XTrade Broker Overview

Foundation Year2003
Official Websitehttps://www.xtrade.net
Regulated in CountriesBelizeMore Details
Minimum Deposit
  • 250 USD
Spreadfrom 1 points
Max Leverage1:400
Trading Assets
  • Forex
  • Indices
  • ETF
  • Stocks
  • Commodities
  • Bonds
Trading Platforms
  • xTrade
Email Support
  • info@xtrade.com
  • support@xtrade.com
  • documents@xtrade.com
  • marketing@xtrade.com
  • affiliates@xtrade.com
  • compliance@xtrade.com
Hotline Phones
Social Media

XTrade is a brokerage firm that provides access to online CFD and currency trading. A bonus program and quality training distinguish the company from competitors.

The broker's website is available in twenty languages: Russian, English, German, Spanish, and Chinese.

All deposits are held in a segregated account at a bank and can only be used for their intended purpose – as trading collateral for the company's clients to access financial markets.

Thanks to modern secure connection protocols and data transmission, adherence to international legal norms, regular financial reporting, and reliable cybersecurity provisions are essential priorities for XTrade.

XTrade Review Summary

In compiling our review and assessment of the XTrade broker, we relied on our unique methodology, developed explicitly for analyzing and comparing brokerage firms. This methodology is based on several key indicators, including the quality of services, offered instruments, trading conditions, and customer reviews. If you want to learn more about how we conduct the evaluation, you can familiarize yourself with our broker evaluation methodology.

Continue reading for detailed information about the XTrade broker and our verdict on their services.

Reliability and Regulation

Rating:3.2/5
Legal EntityRegulator
-

Given that Xtrade International Ltd only holds a Belize FSC license and lacks licenses from more stringent and recognized regulators, this may raise particular concerns among investors. Although the Belize FSC is an official regulator, its standards and requirements may be less strict than well-known regulators such as the UK's FCA or Cyprus's CySEC.

Account Opening

Rating:4/5

The account opening process at Xtrade is relatively standard for many brokers following international regulatory standards. However, some clients may express dissatisfaction with the need to disclose personal information for registration and the high minimum deposit, which is standard practice for most brokers. A plus is the ability to use a demo account without restrictions, allowing beginners to get acquainted before moving on to actual trades.

Registration

Opening an account is entirely free at Xtrade. Customer reviews sometimes note dissatisfaction with the need to disclose personal information for registration, but this requirement is determined by legislative necessity.

Numerous international acts regulating the company's activities require transparency and compliance with anti-money laundering norms. For this reason, registering a demo account will require you to provide your name and accurate phone number and to start trading on a real account – go through verification.

XTrade registration
XTrade registration

After filling out the form, it is necessary to enter the personal account and change the automatically generated password before starting trading. A pop-up message will remind the client of this necessity.

The company does not impose restrictions on the use of the demo account, so with its help, any client can devote enough time to testing and developing trading strategies and honing trading skills. Both Xtrade representatives and customer reviews note the possibility of differences between trading on a demo account and entering the real market.

This is explained by the impact of real-time trading volumes on quotes. The larger the position size, the more significant this influence and the likelihood of differences in such trading from the data obtained on the simulator.

Verification

Before starting to trade with Xtrade, every client must undergo an account verification process. This requirement is driven by the company's commitment to ensuring its clients' security and compliance with regulatory bodies' standards.

What documents are required?

For account verification, you must provide ID and proof of address.

ID:

  • Government-issued photo identification (passport or driver's license).
  • Full name and date of birth must be visible.
  • The document must have a valid expiration date.
  • The name on the document must match the name provided during registration.

Proof of address:

  • A document confirming your address (utility bill, bank statement, lease or mortgage agreement, not older than three months).
  • The document must include your name, address, and the issuing company's name.

Uploading documents

Upload documents through the web trader in the "Account Settings" > "Account Verification" section or through the mobile app in the "Help and Support" > "New Topic" > "Upload File" section.

Suitability Assessment

Do not forget to complete the suitability assessment by indicating your experience and knowledge level in trading.

By following these steps, you can successfully verify your account and start trading with Xtrade, ensuring the security of your trading experience.

Minimum Deposit

To start trading with Xtrade, a minimum deposit of 250 USD is required. This is a standard requirement set by the company for all new clients. However, it is worth noting that Xtrade occasionally offers promotional deals where the minimum deposit threshold may be reduced. This can be an excellent opportunity for new traders to start trading with less initial capital. We recommend keeping an eye on the broker's current promotions and offers to take advantage of favorable conditions for creating.

Welcome Bonuses

The bonus program of the broker XTrade is one of the main “highlights” of the company.

The welcome deposit bonus can reach up to 100%. It is tied to the trading volume, and there are two options for receiving it: cash and preliminary. In the first case, the bonus is immediately credited to the account, and then the trader accumulates the required number of Xtrade points, while in the second case – the order of actions is reversed.

Additionally, clients can access other Forex bonuses for account verification, phone number confirmation, and the first trade on Xtrade's account separately. Customer reviews highlight the latter offer as a particular advantage.

Account Types

Rating:2.3/5

Xtrade offers four different types of trading accounts, catering to the needs of various categories of traders, from beginners to professionals. However, the absence of cent accounts, fixed spread accounts, Islamic accounts, and Forex copy trading services may limit the options for certain groups of traders.

Trading Accounts

StandardPlatinumPremiumVIP
Account CurrencyUSD
Minimum Deposit250 $5 000 $1 000 $20 000 $
Trading PlatformsxTrade
Spreadfloatingfrom 2 pipsfor EURUSD~ 3 pipsfloatingfrom 1 pipsfor EURUSD~ 2 pipsfloatingfrom 2 pipsfor EURUSD~ 3 pipsfloatingfrom 1 pipsfor EURUSD~ 2 pips
Commission per Trade
Trading AssetsForexIndicesETFStocksCommoditiesBonds
Opened Positions
Leverage1:5-1:400
Margin Call / Stop Out15% / 15%
Order ExecutionSTP
Demo Account
Islamic Account
RegisterRegisterRegisterRegister

Broker Xtrade offers four types of trading accounts. The minimum size of the fundamental trading account is limited to a minimum of 250 US dollars. Premium and VIP accounts have reduced spreads and unique bonus offers.

The difference between the bid and ask price can vary depending on market conditions. Nevertheless, detailed information about the average spread values is always available on the official website in the section describing the trading instruments.

Here, you can specify the available trading leverage for the asset, which can be up to 1:400 but may be significantly lower for investments such as stocks. In addition to them, the broker offers trading CFDs on currencies, indices, commodities, bonds, and ETFs.

VIP Account

Applications for joining the Xtrade VIP club are considered on an individual basis. Unfortunately, reviews about the benefits of club membership and such experiences are absent on popular online platforms.

The official website highlights reduced spreads as one of the advantages of a VIP account and additionally offers an impressive list of extra privileges: vacations at exotic resorts paid for by the broker, tickets to sporting events, gifts, and individual bonuses.

Demo Account

A demo account is one of the critical tools for novice traders, and Xtrade provides this opportunity to all its clients. This account allows traders to familiarize themselves with the platform's functionality, master the basics of trading, and test various strategies without the risk of losing real funds.

The company does not set any time limits on using the demo account, which allows traders to devote enough time to learning and practice.

Commissions

Rating:2/5

Xtrade has set high commissions compared to other Forex brokers in the market. This can significantly increase a trader's overall costs and reduce potential profits. Traders should consider all commissions and costs before trading with this broker.

Spreads and Swaps

Spreads and swaps are among the main costs in trading. At Xtrade, spreads are incredibly high, significantly increasing a trader's overall expenses and reducing potential profits. Traders should take this into account when planning their trades and strategies.

As for swaps, they can be described as moderate.

Below is a table of the average spread and swaps for major currency pairs on the standard Xtrade account.

AssetAverage spreadSwap longSwap short
AUDUSD5.0 pips-1.90 pips-2.30 pips
EURUSD5.0 pips-2.30 pips-2.10 pips
GBPUSD5.0 pips-2.00 pips-2.40 pips
NZDUSD5.0 pips-2.00 pips-2.60 pips
USDCAD5.0 pips-2.40 pips-2.60 pips
USDCHF7.0 pips-2.30 pips-2.10 pips
USDJPY5.0 pips-2.50 pips-2.20 pips

Inactivity Fee

Xtrade also charges an inactivity fee. If there has been no trading activity on the account for 3 months, a fee of 50 USD per month will be deducted. This is important to consider, especially if you plan to take extended breaks from trading.

Deposit and Withdrawal

Rating:3.5/5

Broker Xtrade offers an extensive list of methods for depositing and withdrawing funds, which makes the process convenient for most traders. However, several drawbacks exist despite the absence of deposit and withdrawal fees on many payment systems. The inability to use cryptocurrencies may limit options for some investors. Moreover, the processing time for withdrawal requests of up to 5 business days is a significant disadvantage, especially compared with other brokers in the market.

Deposit Methods

Payment SystemCurrenciesDeposit FeeOperation Limit
Moneta.ruMoneta.ru
USD
up to 8000 USD
QiwiQiwi
RUB
up to 15000 RUB
WebMoneyWebMoney
EUR
up to 3000 EUR
YooMoneyYooMoney
RUB
up to 15000 RUB
VLoadVLoad
USDEUR
up to 5000 USDup to 5000 EUR
AlipayAlipay
CNY
up to 5000 CNY
AstroPayAstroPay
USD
up to 500 USD
BoletoBoleto
USD
up to 1500 USD
CashUCashU
USD
up to 15000 USD
FasaPayFasaPay
USD
up to 1500 USD
JetonJeton
USD
up to 10000 USD
BpayBpay
AUD
up to 15652 AUD
SwiftSwift
USDEUR
SofortSofort
EUR
up to 5000 EUR
VisaVisa
USD
up to 15000 USD
MastercardMastercard
USD
up to 15000 USD
JCBJCB
USD
up to 1000 USD
EPSEPS
EUR
up to 14000 EUR
GiropayGiropay
EUR
up to 10000 EUR
iDealiDeal
EUR
up to 5000 EUR
Przelewy24Przelewy24
PLN
up to 50000 PLN
POLiPOLi
AUD
up to 10000 AUD

Deposits can be made via bank deposit, credit card, or one of the numerous supported electronic payment systems.

Withdrawal Methods

Payment SystemCurrenciesWithdrawal FeeOperation Limit
YooMoneyYooMoney
RUB
0.5%
up to 15000 RUB
WebMoneyWebMoney
EUR
0.8%
up to 3000 EUR
AstroPayAstroPay
USD
0.5%
up to 500 USD
QiwiQiwi
RUB
0%
up to 15000 RUB
AlipayAlipay
CNY
0%
up to 5000 CNY
VLoadVLoad
USDEUR
0.3%
up to 5000 USDup to 5000 EUR
BoletoBoleto
USD
0%
up to 1500 USD
Moneta.ruMoneta.ru
USD
0%
up to 8000 USD
JetonJeton
USD
2%
up to 10000 USD
CashUCashU
USD
0%
up to 15000 USD
FasaPayFasaPay
USD
0.5%
up to 1500 USD
BpayBpay
AUD
0%
up to 15652 AUD
SofortSofort
EUR
0.9%
up to 5000 EUR
SwiftSwift
USDEUR
0%
JCBJCB
USD
0.18%
up to 1000 USD
VisaVisa
USD
2.54%
up to 15000 USD
MastercardMastercard
USD
2.64%
up to 15000 USD
Przelewy24Przelewy24
PLN
0%
up to 500000 PLN
EPSEPS
EUR
0%
up to 14000 EUR
POLiPOLi
AUD
1%
up to 10000 AUD
iDealiDeal
EUR
0%
up to 5000 EUR
GiropayGiropay
EUR
0%
up to 10000 EUR

Xtrade processes withdrawal requests within up to 5 business days, significantly longer than other Forex brokers in the market.

Markets and Products

Rating:5/5

Broker Xtrade offers an extensive range of markets and products for trading. Traders can diversify their portfolios and choose assets following their trading strategies and risk profile.

What markets are available?

  • 57 currency pairs;
  • 18 commodities, including metals, energy, and soft commodities;
  • 25 stock indices from America, Europe, Asia, and Australia;
  • over 300 CFDs on stocks from the US, Russia, Australia, Japan, and other European and Asian countries;
  • 13 ETFs across various sectors;
  • 5 bonds from the US and Europe;
  • 52 cryptocurrencies.

Margin Requirements

Dynamic leverage is applied to all accounts. The leverage's size changes depending on the asset and trading volume.

Asset

Maximum Leverage

Forex

1:400

Stocks

1:100

Indices

1:250

Gold and Silver

1:200

Energy Carriers

1:200

Platinum and Palladium

1:50

Cryptocurrencies

1:50

Trading Platforms

Rating:3.5/5

Xtrade offers its clients a high-quality and functional proprietary trading platform. However, despite the high functionality and convenience of the provided terminal, the lack of additional options, such as MT4 or MT5, may limit the choice for specific categories of traders.

Xtrade Platform

Broker Xtrade offers its clients an innovative next-generation trading platform accessible from anywhere and on any device, providing traders maximum convenience and flexibility in the trading process.

Xtrade platform
Xtrade platform

Web Platform

The web platform provides convenient access to market analytics, allowing traders to issue orders and execute trades instantly. It is an ideal solution for those who prefer to trade directly through a browser without downloading additional software.

Mobile Applications

For those who prefer to trade on the go, Xtrade offers a mobile application with a full range of features, including an intuitive interface that facilitates dealing with many assets. The app provides numerous advantages, including building real-time charts using all leading technical indicators and extensive trading tools.

Traders will also have access to signals, notifications, convenient one-click navigation, and professional charting tools, making the Xtrade mobile application an indispensable trading assistant.

Analytics

Rating:4/5

Xtrade offers a relatively wide range of analytical tools to assist traders in making informed decisions. However, the analytics section could be even more comprehensive, including regular reviews from the company's experts and trading signals.

Economic Calendar

The economic calendar allows traders to keep track of the most critical financial events that can impact the market. It is a vital tool for planning trading operations, especially during high volatility.

Economic calendar on the Xtrade website
Economic calendar on the Xtrade website

Financial News

Financial news provides up-to-date information on market events, helping traders make informed decisions.

Financial news on the Xtrade website
Financial news on the Xtrade website

Video Analysis

Daily Analysis Video - these are daily video analyses that provide an in-depth look at market trends and potential trading opportunities.

Video analytics by Xtrade
Video analytics by Xtrade

Calculators

Additionally, the broker offers a range of calculators to optimize trading strategies. Among them:

  • Pivot Calculator for determining key support and resistance levels;
  • Fibonacci Calculator for analyzing potential retracement and reversal levels;
  • Deal Size Calculator helps select the optimal position size based on capital and risk.

Education

Rating:4/5

In an era of rapidly changing financial and trading environments, education plays a vital role in a trader's success. Broker Xtrade understands this need and offers an extensive learning center for its clients.

Video Tutorials

Xtrade provides a range of video tutorials that cover various aspects of trading. From registration and interface to the specifications of the Xtrade application, clients can learn how to build charts, open positions, and maximize their profits using the mobile platform.

Courses

The broker offers a variety of courses, including FOREX V.O.D., strategy courses, fundamentals of economics, ECN features, and many others. These courses are designed for both beginners and experienced traders.

Training courses from Xtrade
Training courses from Xtrade

E-books

Xtrade offers an extensive library of e-books that cover various aspects of trading, from the basics to advanced strategies and trading psychology.

Glossary

For those just starting their journey in finance, the Xtrade glossary provides all the necessary terms and definitions to help you better understand the market.

Customer Support

Rating:4/5

Most users highly appreciate the promptness, professionalism, and willingness to assist with any issues. It is noted that support responds quickly to requests and provides practical solutions. However, some negative aspects, such as the possible deletion of negative reviews and lack of clarity in communication with consultants, slightly lower the overall rating.

Contact Information

You can contact a company representative 24/5 on business days. You can use the online chat, write to support@xtrade.com, or call 000 800 100 7086.

Customer Support Reviews

Reviews of Xtrade's customer support are pretty varied. Most users rate the quality of service highly, noting the staff's quick response, friendliness, and competence. Positive feedback about the platform's ease of use and educational materials is particularly noteworthy.

However, there are negative aspects as well. One user reported problems in communication with the company after losing a significant amount of money. According to him, after a long collaboration and communication with a consultant, the company denied the existence of such an employee. This user also claims his previous negative review was removed at Xtrade's request.

Nevertheless, most reviews emphasize the high level of professionalism of the support service, their readiness to assist with any issues, and their promptness in problem-solving.

XTrade Pros and Cons

Advantages

  1. A wide range of deposit and withdrawal methods.
  2. Extensive selection of markets and products for trading.
  3. A variety of analytical tools.
  4. Comprehensive educational center with diverse materials.
  5. Responsive and multifunctional technical support.

Disadvantages

  1. Weak regulation may raise concerns about the security of client funds.
  2. Limited variety of accounts and services offered.
  3. Wide spreads, which can increase trading costs.
  4. Lengthy processing time for withdrawal requests.
  5. Lack of alternatives to the offered trading platform, limiting traders' choices.

Conclusion

Thanks to its educational materials, Xtrade Broker may be suitable for both novice traders and experienced ones looking for various trading instruments. However, traders prioritizing tight spreads and fast fund withdrawals may consider other options.

Visit XTradeTrading CFDs carries high risks. You may lose all invested funds
Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

Write a review about XTrade:

Rating: