XTrade Review 2024 Expert Review
XTrade offers a standard trading account, allowing XTrade traders to trade a wide range of financial instruments, with competitive spreads, using the feature rich XTrade trading platform. From low-cost trading fees to advanced charting tools, there’s something for everyone. Plus, their customer service is top notch, making them stand out from the competition. Xtrade offers traders the use of its own proprietary trading platform, the Xtrade WebTrader platform.
The inbuilt charting platform is also very limited and makes it almost impossible to apply technical tools and indicators to the charts. Xtrade’s platform can be used for opening and closing trades but traders will need another software to properly analyze markets. When it comes to the trading platform that this broker has to offer, you will be pleased to know that it provides support for Web Trader as well as the Meta Trader 4 platform. The former is the most popular one on Xtrade because you don’t have to perform any downloads or installations for using it.
- An economic calendar is used by investors to monitor market-moving events, such as economic indicators and monetary policy decisions.
- ETFs are great for diversification of portfolio and plenty of stocks also useful for this purpose.
- The account opening process at Xtrade is relatively standard for many brokers following international regulatory standards.
- The Xtrade Mobile Trading App is an intuitive multi-asset trading app that is compatible with iOS and Android devices.
- XTrade advertises itself as a commission-free broker, which can be appealing to beginner traders.
Xtrade’s asset variety is relatively limited compared to the likes of Forex.com or FP Markets, both of which offer thousands of instruments across multiple asset classes, catering to a broader range of traders. Xtrade does not offer the MetaTrader 5 platform, which is widely known for its advanced features and a broader range of trading instruments. Swap fees are typically charged in currency pairs, commodities, and indices, and the rates can vary depending on the market’s interest rate differentials between the two currencies involved in the trade. These fees are typically calculated at the end of each trading day and can either be a credit or a debit to the trader’s account, depending on the trade’s direction and the interest rates involved.
XTrade Deposit Fees
Xtrade provides good trading technology with platform selection and spreads on an average-low basis, the account opening is fast and there is a selection of Forex and CFD instruments. The platform is available via web and mobile apps, providing flexibility for traders. Trading with Xtrade https://traderoom.info/xtrade-forex-broker-overview/ has gone smoothly for the past 4 months I have been here.
There are also many types of financial assets and any trader will be able to trade whatever they want. I think the highlight of Xtrade at least for me are the asset selection and the daily technical analysis videos.There are wide range of cool instruments that I have never traded but always wanted. ETFs are great for diversification of portfolio and plenty of stocks also useful for this purpose. Traders can enjoy alerts and notifications, ensuring they stay updated on market movements. The app provides one-click navigation, making it user-friendly, while also offering professional charting tools for precise market analysis.
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Every trader gets access to the full range of instruments, web and mobile platforms, plus educational centre. This does mean, however, that less favourable spreads can’t be avoided like they can with many tiered account structures. The broker operates on a fixed spread model without commissions, which may appeal to traders who prefer straightforward pricing. However, this pricing structure might not be as competitive as commission-based models offered by other brokers.
- These issues have led some traders to raise concerns about whether XTrade is a scam.
- Overall, the broker’s reliability depends on individual priorities, with many traders finding value in its straightforward approach and stable conditions, while others might seek brokers with stricter oversight or more advanced tools.
- Many traders appreciate the broker’s transparency and the availability of educational resources and demo accounts, which cater to a diverse range of trading strategies.
- To delete your XTrade account, contact their customer support team via email or live chat, and request account closure.
- 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.
The Trustpilot Experience
These can provide you with further insights into the market and how you can take advantage of the movements that take place. When you open the Premium account on Xtrade, you also get another major benefit; you can get access to the MetaTrader 4 platform, which comes with a wide array of trading tools and other resources. Every user is provided with a dedicated account manager for helping them make trading decisions and they can also gain access to educational e-Books and video tutorials. Xtrade was first established in 2003 and is owned by XFR Financial Ltd, a company licensed and authorized to operate by CySEC, to offer Contracts for Difference. It also offers trading services on shares, commodities, indices and foreign currencies. It has offices across five continents and clients from more than 140 countries.
Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points. The first account option that you will find on XTrade is the Standard account option, which requires a minimum deposit of $250. In addition, users of Standard account also get a 1-on-1 platform lesson, where they can learn more about trading.
But, the MT4 is only offered to traders who sign up for a higher account type on Xtrade. As stated earlier, Xtrade has been serving traders for more than a decade and it has remained committed to providing them with access to different financial markets. They also have a round the clock customer support department for helping out traders whenever they come across problems with their accounts.
Before starting to trade, potential Xtrade clients should arm themselves with all possible information and trading skills needed to be successful in the world of forex and commodity trading. If Xtrade’s website itself does not provide enough means, a trader should explore other information sources to obtain that skills and knowledge. As with currency exchange markets, commodity markets offer trading in contract-based tradable goods. Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss. This facility enables traders to get a larger exposure to the market than the amount they deposited to open a trade. Rates, terms, products and services on third-party websites are subject to change without notice.
Traders should also be mindful of potential fees related to withdrawals, especially when using certain payment methods, although Xtrade supports a variety of widely used payment options with no withdrawal fees for some methods. Spreads for the Standard Account at Xtrade are generally higher, averaging between 2-5 pips, while the Premium, Platinum, and VIP Accounts offer more competitive spreads, starting from 3 and 2 pips. However, the fixed spread structure might not be as favorable for traders who prefer variable spreads, as these can provide tighter pricing during certain market conditions.
Bonds trading on XTrade is a way of making profit from fluctuations in the value of corporate or government bonds. While some bonds are traded publicly through XTrade, most trade over-the-counter between large broker-dealers like XTrade acting on their clients’ or their own behalf. Yield is therefore based on the XTrade purchase price of the bond as well as the coupon. A XTrade stop-limit order is an order to buy or sell a stock that combines the features of a stop order and a limit order. Once the stop price is reached, a stop-limit order becomes a limit order that will be executed at a specified price (or better).The XTrade stop-limit order triggers a limit order when a stock price hits the stop level.