XTrade Forex Broker Broker Review, xtrades trading & investing.

Xtrades trading & investing


If you are still trading forex the “old fashioned way” with MT4 and a like-minded broker, then you may have missed out on the many innovations that have hit the market in recent years.

Real forex bonuses


XTrade Forex Broker Broker Review, xtrades trading & investing.


XTrade Forex Broker Broker Review, xtrades trading & investing.


XTrade Forex Broker Broker Review, xtrades trading & investing.

Next to binary options, the next fastest growing way to trade has been to go the contracts for differences (cfds) route with a firm like xtrade, which has been in the business since 2010. A spin off from “spread betting”, this straightforward trading regimen involves buying a contract with your broker that will pay off if the market moves in your favor. Your reward is based on the difference between your opening and closing position, the units purchased, and leverage chosen. This genre offers more flexibility, and, for this reason, the forex brokers in this arena have chosen to add stocks, commodities, and indices to the mix to broaden your possibilities and trading enjoyment. About the author : justin freeman


Xtrade forex broker broker review


Reviewer : justin freeman


Broker information



  • Company name: xtrade

  • Founded: 2010

  • Country: cyprus


Platform info


Broker services



  • Regulators: wire transfer, credit/debit card, moneybookers

  • Minimum deposit: $100

  • US clients: no



Avatrade was established in 2006 and is located in dublin, ireland. Offering trading services in over 150 countries with offices located worldwide. Avatrade is a forex broker that is committed to providing a safe trading environment and is fully regulated and licensed in the EU and BVI, with additional regulation in australia, south africa and japan.


If you are still trading forex the “old fashioned way” with MT4 and a like-minded broker, then you may have missed out on the many innovations that have hit the market in recent years. Next to binary options, the next fastest growing way to trade has been to go the contracts for differences (cfds) route with a firm like xtrade, which has been in the business since 2010. A spin off from “spread betting”, this straightforward trading regimen involves buying a contract with your broker that will pay off if the market moves in your favor. Your reward is based on the difference between your opening and closing position, the units purchased, and leverage chosen. This genre offers more flexibility, and, for this reason, the forex brokers in this arena have chosen to add stocks, commodities, and indices to the mix to broaden your possibilities and trading enjoyment.


What kind of asset choices, you might ask? With xtrade, you can choose between 52 currency pairs, the lion’s share of them, 21 in number, being exotic pairings that you may not find with your traditional broker. Xtrade even offers a bitcoin pairing for those in the know. Outside of forex, there are nearly one hundred additional asset choices, each with its own bid/ask spread dynamics and minimum margin requirement. Xtrade also provides several illustrative examples to help you understand how to open a position, close it, and deal with risk management issues. There are no commissions involved. The firm makes its revenue via the bid/ask spread and overnight premiums, if applicable. Registration is simple. There is one standard account that comes with a free demo account for practice. The demo account is subject to first deposit. Welcome bonuses range from 20% up to 60% and can be more, if you deposit more than $10,000. Terms and conditions for bonuses: the bonus amount is added to your account when you have traded the amount of xpoints to make you legible for the bonus. Every asset will reward different amounts of xpoints. One deposit bonus per household. The bonus will expire within 30 days of initial deposit if the trader does not reach the required xpoints within the time frame.


Since cfds are such a different trading instrument, xtrade developed its own version of webtrader to support their online transactions. No downloads are required, and they also support a number of mobile apps for traders on the go. The firm is headquartered in cyprus and derives its licensing and authority to operate from cysec. With xtrade, your deposits are segregated from operating capital and protected further, up to 20,000 euros, by the investor compensation fund in cyprus. Xtrade is operated by xtrade europe ltd, which is regulated and licensed by cysec under the license number 108/10. Unfortunately, U.S. Clients are not accepted at this time.


Features


Why trade with xtrade.Com? The firm lists these reasons:



  • Founded in 2010 by industry professionals with diverse experiences in the brokerage industry;

  • Regulated by cysec;

  • Client deposits are segregated for safety purposes and protected further up to 20,000 euros by the investor compensation fund in cyprus;

  • Standard account and a free demo account upon registration – customization may apply if more than $10,000 is deposited, demo account is subject to first deposit;

  • More than 150 CFD asset choices, including currency pairs (51 plus bitcoin), stocks (74); indices (12); and commodities (13);

  • Trading platform is proprietary, online only, and requires no downloads;

  • Mobile apps are also available;

  • No commissions charged – xtrade is compensated for its services through the bid/ask spread;

  • Trading support includes professional charts, technical analysis tools, alerts, and training provided by customer service reps;

  • Customer service reps are bilingual and accessible “24/5” via live chat, email, or direct phone.



Spreads and leverage


Spreads and leverage are published on the website for every asset choice. Each asset has its own individual criteria. Xtrade is compensated via the bid/ask spreads, which do vary by asset, and margin requirements are also stated separately. Margin calls can be a possibility with cfds, if the market moves abruptly against you. Risk warning: trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.


Platform


Processing cfds requires an entirely different back office and software protocols. To accommodate its needs in the most effective manner, the management team at xtrade chose to develop its own proprietary trading platform. It has the look and feel of other online systems, is user-friendly, and allows one-touch access to open positions, asset choices, history, and trading tools. No complex downloads are necessary, and mobile applications complete the platform possibilities. For security and safety purposes, all personal information and trading session data are encrypted using the latest in 256-bit SSL technology. Hackers will not ruin your day with this broker.


Deposits and withdrawals


Xtrade offers nearly 40 different ways to deposit funds, $100 being the minimum amount required. In addition to credit and debit cards and banking wire transfers, they support a host of ewallet and domestic payment provider alternatives. Withdrawals must follow the same deposit route, per law, and withdrawals will be a snap, as long as AML documentation is in order, once again as per international law.


Beginner’s and customer support


Customer service representatives are available “24/5” and can be accessed via live chat, direct phone, or email. The reps speak six languages, and the website supports 16 languages. Account managers can address your queries directly or guide you through set up, system familiarization, and training education, if necessary. The website is full of helpful examples that explain how spreads, leverage, and risk management tools apply.


Conclusion


Trading cfds is one of the newer trading methods to hit the forex market in recent years, and with any innovation, it helps to be with a pioneer in the genre that has years of experience at its craft. Xtrade has been at it since 2010, with an experienced management team from the brokerage industry. They have cysec as regulator for EU. If you want to try out cfds, then xtrade is worthy of your consideration.


Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.


About the author : justin freeman


Justin has twenty-two years' of experience working in the financial markets with brokers. He's held trading and risk management positions at boutique asset managers and large investment banks. Justin helps people understand their trading options in a clear, jargon-free manner.



Best discord servers of group chats for stock trading investors


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Looking to join the highest quality online network of stock investors? Click here to apply for a membership and join 5000+ global stock investors.


With the evolution of social networks occurring where users are searching for more intimate, community focused environments it isn’t surprising to see the rise of discord being used to host many niche communities. Discord, mostly known as an online gaming communication platform, has grown to host all sorts of group chats. Similarly to slack groups and telegram groups, discord may arguably be becoming the hottest group chat platform out there.


While hashtag investing is itself a high quality, exclusive social network for stock investors with group chatting capability, I figured it would be valuable to condense and share them in a single blog post. If there is any that should be added please feel free to contact us to request adding it. As a proponent for community, and by that I mean, focused quality discussion that truly drives knowledge sharing and self growth, it is beneficial for investors to migrate over from large and most unhealthy social networks like stocktwits and reddit.


So let’s do it, here are the best stock trading discord servers out there:


1. R/stockmarket live discord chat room


Probably the largest discord group chat for stock traders. This discord server is affiliated with the popular subreddit r/stockmarket.


2. R/weedstocks


For discussion related to weed stocks and the growing cannabis industry this would be the best discord server for you.


3. United traders


Another large discord server that has a daily watch list. You can get an idea of the content by viewing their twitter page here: https://twitter.Com/_unitedtraders .


4. Money guru’s


General discord server focused on helping participants increase revenue through business, trading, cryptocurrency and more. If your 2020 goal is to increase your earning you may want to start here.


5. Swingfish traders


Swingfish is a forex based discord server that is now branching out to build a full community for all types of investors.


6. Daytrading


If you are looking for a focused discord server to help you learn and to become a better day trader then this should be the one for you to join.


7. Bulltradefinder


Free discord server that provides real-time alerts on stocks, options and market news.


8. Hashtag investing


As a website that is focused on building the highest quality online community of stock investors. We will now also be providing our 2500+ members with a discord room for those who prefer chatting on that platform. We are still building a waitlist to of interested traders who would want to participate. Click here to join the waitlist.



XTRADE IS A BIG SCAM . PLEASE STAY AWAY


Sanoj1981


Recruit

My name is sanoj sukumaran. One day i got a call from a trading company called xtrade.Com and they told me about the financial markets and the trading platform. They told me that xtrade is the most trusted trading platform in the world and football player cristiano ronaldo is their brand ambassador. I made an investment of USD 1000 to start with the trading account and then i made another investment of USD4000. I lost all the complete deposit with the help of their trading advisor mr sanjay kumar. After that he stopped responding to my calls and emails. I know my loss was big , but i was looking for an alternate option to recover my loss. After that another agent called me from xtrade scam ( I would like to call it like that ) and he connected me to another account manager ******* mr zahid khan. He asked to make a small deposit to start recovering my previous loss and he claimed himself as the champion of xtrade . He made me deposit around 24K USD in total to maintain the marging and one fine day i could see that i lost all my money in the position he forced me to open. It took me some time to realize that its a fraud company. After losing all my money, my account manager ******* stopped responding to my calls , skype messages and emails and my account and my account got blocked for some reason which i don't know. I have attached the proof of my deposit and the screenshot showing the status of my account


Please pass this message to everyone and post it in all social networking sites such as facebook, instagram, twitter etc to help people from losing their money in such fraud company. I am a bankrupt now and i lost my life and career.


Attachments


Danielleung


Recruit

Jackcharts


Highly suspicious person

My name is sanoj sukumaran. One day i got a call from a trading company called xtrade.Com and they told me about the financial markets and the trading platform. They told me that xtrade is the most trusted trading platform in the world and football player cristiano ronaldo is their brand ambassador. I made an investment of USD 1000 to start with the trading account and then i made another investment of USD4000. I lost all the complete deposit with the help of their trading advisor mr sanjay kumar. After that he stopped responding to my calls and emails. I know my loss was big , but i was looking for an alternate option to recover my loss. After that another agent called me from xtrade scam ( I would like to call it like that ) and he connected me to another account manager ******* mr zahid khan. He asked to make a small deposit to start recovering my previous loss and he claimed himself as the champion of xtrade . He made me deposit around 24K USD in total to maintain the marging and one fine day i could see that i lost all my money in the position he forced me to open. It took me some time to realize that its a fraud company. After losing all my money, my account manager ******* stopped responding to my calls , skype messages and emails and my account and my account got blocked for some reason which i don't know. I have attached the proof of my deposit and the screenshot showing the status of my account


Please pass this message to everyone and post it in all social networking sites such as facebook, instagram, twitter etc to help people from losing their money in such fraud company. I am a bankrupt now and i lost my life and career.


****************************************************************************************************************************************************************************
hi sanjay,
I have been trading with several platforms for the past 2years I have been trading with xtrade.Com. First am sorry for your experience as someone who experienced losses of nearly $80 k. Just like me and am sure many others who have lost some money. We are quick to run as call everything a scam without considering some the things we did or did not do to protect our investment. I just wanted to disagree with you politely that I don't think xtrade.Com is a scam. They refunded my money when I asked for it sure it took 2 weeks I thought then that they were trying to steal my money but I did not have one document which they need for something called anti-theft or something like that.


So, in a nutshell, there are different account managers it is our duty as traders to know which is which and not to risk capital just because someone says so. If you are not sure to ask for a second opinion do your research. They may have different leverage or prices due to the types of contract but it is not a scam. # am not a troll either. So to all do your homework there isn't a broker without a bad review out there some a grievous RED LIGHT reviews and most are from sour treader venting.


If you know or learn what to do you may limit your losses and make a nice profit.



Xtrade review - is it scam or safe?



Trading accounts


Account type minimum deposit minimum trade size maximum leverage spreads trading platform
standard $100 0.01 1:400 fixed, 2 pips on EUR/USD xtrader pro


Xtrade offers its clients a single universal account type with fixed spreads and leverage of up to 1:400 on its proprietary web-based platform xtrader pro.



At present, the broker does not offer the most popular metatrader 4 (MT4) platform. Account management services are not available either.



Meanwhile, xtrade offers exceptional training options via its education center and xtrade academy, where you may find tutorial videos, e-books and other resources suitable for both beginner and professional traders.



The company



Xtrade offers trading in forex, commodities, indices, shares and cfds on its in-house platform. The brokerage’s head office is located in cyprus.



Xtrade is a brand operated by xtrade.Europe ltd., which is authorised and regulated by the by the cyprus securities and exchange commission (cysec).



Xtrade group complies with international regulatory standards and also operates via units regulated in australia (by ASIC), belize (by IFSC) and south africa (by FSB). What is more, in july the broker joined russia’s self-regulatory organization NAFD (former CRFIN) and said it will apply for a russian license.



In addition, xtrade is one of the forex brokers that advertise through sport, namely has a contract with the famous footballer cristiano ronaldo.



Security of funds



Cysec applies certain rules and requirements to cyprus investment firms. For instance, they must maintain net tangible assets amounting to at least €730,000 in order to prove their good financial standing. Furthermore, the cypriot watchdog requires forex brokers to keep customer funds in segregated accounts, separated from the company’s operating funds.



As a further guarantee to clients’ funds, all cysec-regulated companies are members of the investor compensation fund, which is able to pay compensation up to 20,000 EUR, if the company becomes insolvent or discontinues operations.



Additionally, every cysec-regulated investment company is also mifid compliant and therefore entitled to offer cross-border services within the EU under the mifid regulations. Despite this, it is registered with the italian financial regulator, CONSOB.



Earlier this year xtrade got in the trouble with the ASIC over suspicions of improper handling of client money. What is more, earlier in october angry xtrade customers commenced media campaign and strike in limassol (cyprus), alleging manipulation and theft of funds (according to online media financefeeds). A number of forex forums are also flooded with complains about this broker and allegations that it is a scam. In light of the above said, there may be concerns about xtrade’s reliability.



Trading conditions



Minimum initial deposit
in order to open an account with xtrade, traders have to invest a minimum of $100. Such minimum initial amount is average, yet some renown cyprus-based brokers require less. For instance, XM demands just $5 from its clients as a start.



Spreads & commissions
as most fixed-spread brokers, xtrade provides commission-free trading. The spread for the EUR/USD pair amounts to 2 pips, which is average for the forex market.



For purposes of comparison, another EU broker (holding a FCA license), HYCM, provides fixed spreads of 1.5 pips on EUR/USD and also charges no commission. For more information, you may look up real-time spreads of 15 leading brokers here.



Leverage

the maximum leverage level offered by xtrade is 1:400, which is common for the FX market, yet it is considered a high ratio, because the higher the leverage, the greater the risk.



Nonetheless, many cyprus-based brokers offer even higher leverage rates - for example, XM provides leverage up to 1:888. And HYCM – up to 1:500. You may check out a list of brokers, providing leverage equal to or exceeding 1:500 here.



Trading platform



If you are looking for the standard forex market trading platform metatrader4 (MT4), you will not find it with this broker. Xtrade offers its clients solely its proprietary platform xtrader pro, which is entirely web-based. Mobile versions are also available.
Xtrader pro has a simple user-friendly interface and is equipped with the common trading tools and features, such as charts, technical analysis indicators, etc.


Xtrade's in-house web platform xtrader pro. Click to enlarge.


When placing orders, users are able to set a few other variables to capture profits and limit losses. They include the “close at profit”, “close at loss” and “buy when rate is” features.



Promotions
this broker offers a lot of bonuses and other attractive promotions. At the time of writing of this review, xtrade supports a welcome package of 4 types of bonuses for newcomers:



• first deposit bonus from 20% to over 60% (up to $6000), which expires after 30 days and can be withdrawn after certain volumes are traded;



• $20 cash bonus, which can be acquired following phone verification.To redeem it, you are required to reach 300 xpoints within 30 days;



• first trade on us (up to $120 cash bonus);



• $30 cash bonus, account verification account verification. To redeem it, you are required to reach 300 xpoints within 30 days.



Methods of payment



As opposed to the narrow range options it offers in terms of trading accounts and platforms, xtrade supports a number of payment methods: credit/debit cards, bank wire transfer, paypal, alipay, abaqoos, dineromail, boleto, cashu ekonto, epay bg, EPS, euteller, giropay, halcash, ideal, lobanet, mister cash, moneta RU, multibanco, neosurf, neteller, poli, QIWI, przelewy24, skrill, sofort, sporopay, teleingreso, ticketsurf, todito cash, webmoney and yandexmoney.



Xtrade does not charge any fees for deposits and according to the information on its website, withdrawal requests take up to five business days to process. Delays beyond the company’s control might occur due to third party withdrawal payment methods.



Conclusion



Xtrade is a well-regulated FX and CFD broker that offers trading in a variety of instruments on its in-house web platform. However, xtrade services are quite limited in terms of trading accounts and platforms and some concerns are raised with regards to this broker being a scam. To sum up the above, here are the advantages and drawbacks with regards to this broker:



Xtrade review


Is xtrade a good broker? We believe they are just another broker. Although they have been growing in recent years due to the number of underlying assets which one can negotiate with, and the heavy investment they are doing through sponsorships such as those from cristiano ronaldo. Nonetheless, once can find CFD brokers like plus500 that are far more famous and do not charge commissions . They offer a wide range of negotiable assets, including forex, shares from companies listed on stock exchanges around the world, indexes and, of course, raw materials (gold, wheat, silver, oil …). However, if you want to do so at a later time, throughout this review we will analyze the requirements that every CFD broker must have by comparing xtrade with its competitors. In addition, we will analyze the varied opinions from customers (80.5% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money).


We believe it is a broker that leaves something to be desired, since their services and customer service are average. Even though the company offers many options, before hiring their services, we have to ensure it is a good broker. To do so, we have to conduct an in depth analysis to study its pros and cons. That is why we will conduct a review to study their commissions, reviews from actual traders, whether it is regulated or not, whether it offers a demo account, and other important information before registering.


Regulation: is xtrade a scam?


The first step in a review is to always analyze the regulation of the broker regulation. Why? It tells us whether it is a secure and reliable broker. Even though being regulated is not a 100% security certificate, it is a clear sign that they take things seriously and that they are not a scam.


is xtrade safe?


Xtrade is a cyprus based broker, and is therefore authorized and regulated by the cypriot entity, cysec. Cyprus is one of many countries in the european union and euro zone such as spain, so they comply with all treaties, regulations and communities. In addition, its italian branch is registered in the italian entity, CONSOB, which would be somewhat similar to the UK´s FCA. In addition, since xtrade is a european broker, it complies with the mifid community regulations. Having cristiano ronaldo sponsor xtrade is seen as something very positive in the trading world and for many people, it offers them a great sense of security, but it does not provide us any information as far as reliability. The important thing is the information we encounter in terms of regulation, and based on that we have to determine if it is reliable or not.


In summary, after studying everything regarding supervision, we believe xtrade is a reliable broker. Nevertheless, we don´t like nothing that´s not registered with the FCA of the UK, which generates some distrust. Taking into account that there are other CFD brokers like plus500uk ltd that are registered woth the FCA , we believe it would be interesting to focus our attention on them (80.5% of retail CFD accounts lose money).


Does xtrade pay?


One of the concerns that traders have before investing through a CFD broker is to know whether they will have a problem when withdrawing their money. In this regard, we have to say that after reading comments in forums, xtrade generally speaking, does pay on time even though one may encounter comments about people stating that they had problems withdrawing their money.


Demo account


If you are still new to trading and don´t want to start directly with real money or you want to test using the simulator to see how cfds work. In doing so, you will be able to see how the markets reacts, be it forex with the movement in currencies, or the stock exchange with the quotation of companies, as news emerge affecting the company.


Demos are very useful tools for beginners because they offer you the option of carrying out as many operations as you want and verify in first person the functioning of the financial markets around the world, as well as to negotiate with all available assets, be it stocks, currencies, raw materials or stock indexes. Thanks to this, if you are a beginner, or if you already trade with cfds, but want to try new strategies, you can use the demo to avoid taking risks.


If you want to use different trading strategies with cfds without risking your capital, you can do invest through the demo account. The truth is that xtrade´s demo lacks many important options and has significant limitations. If you want to try plus500´s demo click on the link below, and then click on “free demo account” (80.5% of retail CFD accounts lose money).


Commissions


If regulation is most important, the second most important thing are commissions and fees. In trading with cfds, the best brokers do not charge any commission for each operation, but instead use spreads. The operation of these spreads is as follows: each time we buy or sell a CFD on a certain underlying (for example, oil, or shares of telefónica or facebook) the price of opening and closing a position is different. This differential is called the spread, and it is the existing cost to be negotiated. Therefore, we have to look for a broker whose spreads are as low as possible.


For xtrade´s basic account, which requires a minimum initial deposit of only 100 euros / dollars, the spread is fixed and ranges from 4 to 6 pips. If you prefer to register with the premium account, which is of a higher level, the conditions are better, since pips range from 2 to 5.


As mentioned earlier, there are many assets available to invest, so one cannot see each and every one of the spreads, because it would be a very boring review. By simply knowing that the euro / dollar currency pair is the most important, and as we see with plus500, the minimum spread is variable. If you want to learn more about the spreads offered by plus500, click here (80.5% of retail CFD accounts lose money).


Terms


As we have already seen, there are no commissions, but you have to know that if you do not trade for three full months, they can charge you a $ 5 inactivity fee. The normal thing is to not be charged because practically nobody opens a real account to leave it abandoned. Therefore, although there are some associated costs, we can say that hiring the services from xtrade is free.


crypto trading


On the other hand, one of the most interesting aspects of trading with cfds is its leverage. Xtrade stands out from the rest of the brokers, since it offers a maximum leverage of 1:30. If compared with others brokers like plus500, and even with one of the famous brokers like markets.Com, we will discover that xtrade allows a similar leverage. So, you have the option to invest with a quantity of money of the same level as with the competing brokers of xtrade. Of course, you have to know that by operating with leverage you can lose more money than what you have entered.


Another very important issue is the platform, since that´s where you will spend most time and the tool you will use to invest. Xtrade developed their own platform, so it is proprietary technology. Obviously, it offers high-level tools and all the signals you need to invest successfully. However, the signals do not make trading any easy and making money is not a sure thing. You are the one who has to operate and create your own strategy by always taking into account the risks of operating in the financial markets.


Reviews


All factors and conditions we have seen so far are very great but, what do customers who already invest with xtrade think? Comments in forums and opinions from traders are mixed, some point out great things while others recommend certain improvements.


xtrade app review


One of the aspects that has had great opinions is the platform itself, which is very easy to use and does not require any type of download. Xtrade has many great reviews due to their free courses. The official website, which is fully available in english and other languages has also received positive comments.


Unfavorable comments are associated with the lack of using paypal to make deposits, although they have plenty of other alternatives, such as neteller, paysafe card, or traditional methods such bank transfer or credit and debit card. There is also one comment pointing out that they miss not being able to operate with the metatrader platform. Finally, one can also find opinions of distrust for not being registered under the FCA.


Rating and additional information


To end this review we want to create a list showing the positive aspects of xtrade, and factors we believe should improve, but let’s be honest, no broker is perfect.



  • Demo available for beginners

  • Platform compatible with mobile phones (android and ios), tablets and computers




  • No metatrader 4

  • Does not allow to withdraw or deposit money with paypal

  • Not registered with the FCA

  • Spreads are higher than its competitors

  • Can be greatly improvable in cfds over cryptocurrencies, ripple, bitcoin, bitcoin gold, bitcoin cash or litecoin



Having rated the different conditions offered by this broker, our assessment is that it is a mid-level company. Our opinion about xtrade is relatively good, but we miss not seeing it registered in UK´s FCA and we don´t like their high spreads.


We believe plus500 is an option which should be consider for trading with cfds. Click here if you want to learn more about plus500 and trade without having to pay commissions (80.5% of retail CFD accounts lose money).



Xtrade forex broker broker review


Reviewer : justin freeman


Broker information



  • Company name: xtrade

  • Founded: 2010

  • Country: cyprus


Platform info


Broker services



  • Regulators: wire transfer, credit/debit card, moneybookers

  • Minimum deposit: $100

  • US clients: no



Avatrade was established in 2006 and is located in dublin, ireland. Offering trading services in over 150 countries with offices located worldwide. Avatrade is a forex broker that is committed to providing a safe trading environment and is fully regulated and licensed in the EU and BVI, with additional regulation in australia, south africa and japan.


If you are still trading forex the “old fashioned way” with MT4 and a like-minded broker, then you may have missed out on the many innovations that have hit the market in recent years. Next to binary options, the next fastest growing way to trade has been to go the contracts for differences (cfds) route with a firm like xtrade, which has been in the business since 2010. A spin off from “spread betting”, this straightforward trading regimen involves buying a contract with your broker that will pay off if the market moves in your favor. Your reward is based on the difference between your opening and closing position, the units purchased, and leverage chosen. This genre offers more flexibility, and, for this reason, the forex brokers in this arena have chosen to add stocks, commodities, and indices to the mix to broaden your possibilities and trading enjoyment.


What kind of asset choices, you might ask? With xtrade, you can choose between 52 currency pairs, the lion’s share of them, 21 in number, being exotic pairings that you may not find with your traditional broker. Xtrade even offers a bitcoin pairing for those in the know. Outside of forex, there are nearly one hundred additional asset choices, each with its own bid/ask spread dynamics and minimum margin requirement. Xtrade also provides several illustrative examples to help you understand how to open a position, close it, and deal with risk management issues. There are no commissions involved. The firm makes its revenue via the bid/ask spread and overnight premiums, if applicable. Registration is simple. There is one standard account that comes with a free demo account for practice. The demo account is subject to first deposit. Welcome bonuses range from 20% up to 60% and can be more, if you deposit more than $10,000. Terms and conditions for bonuses: the bonus amount is added to your account when you have traded the amount of xpoints to make you legible for the bonus. Every asset will reward different amounts of xpoints. One deposit bonus per household. The bonus will expire within 30 days of initial deposit if the trader does not reach the required xpoints within the time frame.


Since cfds are such a different trading instrument, xtrade developed its own version of webtrader to support their online transactions. No downloads are required, and they also support a number of mobile apps for traders on the go. The firm is headquartered in cyprus and derives its licensing and authority to operate from cysec. With xtrade, your deposits are segregated from operating capital and protected further, up to 20,000 euros, by the investor compensation fund in cyprus. Xtrade is operated by xtrade europe ltd, which is regulated and licensed by cysec under the license number 108/10. Unfortunately, U.S. Clients are not accepted at this time.


Features


Why trade with xtrade.Com? The firm lists these reasons:



  • Founded in 2010 by industry professionals with diverse experiences in the brokerage industry;

  • Regulated by cysec;

  • Client deposits are segregated for safety purposes and protected further up to 20,000 euros by the investor compensation fund in cyprus;

  • Standard account and a free demo account upon registration – customization may apply if more than $10,000 is deposited, demo account is subject to first deposit;

  • More than 150 CFD asset choices, including currency pairs (51 plus bitcoin), stocks (74); indices (12); and commodities (13);

  • Trading platform is proprietary, online only, and requires no downloads;

  • Mobile apps are also available;

  • No commissions charged – xtrade is compensated for its services through the bid/ask spread;

  • Trading support includes professional charts, technical analysis tools, alerts, and training provided by customer service reps;

  • Customer service reps are bilingual and accessible “24/5” via live chat, email, or direct phone.



Spreads and leverage


Spreads and leverage are published on the website for every asset choice. Each asset has its own individual criteria. Xtrade is compensated via the bid/ask spreads, which do vary by asset, and margin requirements are also stated separately. Margin calls can be a possibility with cfds, if the market moves abruptly against you. Risk warning: trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.


Platform


Processing cfds requires an entirely different back office and software protocols. To accommodate its needs in the most effective manner, the management team at xtrade chose to develop its own proprietary trading platform. It has the look and feel of other online systems, is user-friendly, and allows one-touch access to open positions, asset choices, history, and trading tools. No complex downloads are necessary, and mobile applications complete the platform possibilities. For security and safety purposes, all personal information and trading session data are encrypted using the latest in 256-bit SSL technology. Hackers will not ruin your day with this broker.


Deposits and withdrawals


Xtrade offers nearly 40 different ways to deposit funds, $100 being the minimum amount required. In addition to credit and debit cards and banking wire transfers, they support a host of ewallet and domestic payment provider alternatives. Withdrawals must follow the same deposit route, per law, and withdrawals will be a snap, as long as AML documentation is in order, once again as per international law.


Beginner’s and customer support


Customer service representatives are available “24/5” and can be accessed via live chat, direct phone, or email. The reps speak six languages, and the website supports 16 languages. Account managers can address your queries directly or guide you through set up, system familiarization, and training education, if necessary. The website is full of helpful examples that explain how spreads, leverage, and risk management tools apply.


Conclusion


Trading cfds is one of the newer trading methods to hit the forex market in recent years, and with any innovation, it helps to be with a pioneer in the genre that has years of experience at its craft. Xtrade has been at it since 2010, with an experienced management team from the brokerage industry. They have cysec as regulator for EU. If you want to try out cfds, then xtrade is worthy of your consideration.


Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.


About the author : justin freeman


Justin has twenty-two years' of experience working in the financial markets with brokers. He's held trading and risk management positions at boutique asset managers and large investment banks. Justin helps people understand their trading options in a clear, jargon-free manner.



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Investment scam: I lost $50 000 in fake online trading


My story


I was contacted over the phone by an online trader who specialised in binary options, cryptocurrency and forex trading. He said his company was on the cutting edge and used the latest technology and could offer guaranteed returns. I invested a few thousand and used their online platform, which seemed to work very well. I could see my trades were resulting in good profits. I invested more at their insistence and they promised I would earn even more.


When I wanted to withdraw my money I was told I would need to pay taxes on my profits before I could access it. I was never warned about this but they insisted I needed to pay taxes before I could get my money back. After I asked for my money, my trades started to fail and my accumulated profits were starting to decrease. They pressured me to invest more so that I could reverse the situation by increasing my ‘trades volume’. They said I would lose everything unless I invested more as an emergency.


I feel very embarrassed by this scam — they were very convincing and professional. They stated I would be ‘kicked off the market’ because my trades were failing and I was reduced to three per cent of my initial investment but by that point I knew it was all fake.


Signs this was a scam



  • Phoned out of the blue by a stranger offering unsolicited advice on investments

  • Told he had to pay additional fees (taxes in this case) to access his money, though he was not informed of this earlier

  • Offered ‘guaranteed returns’

  • Encouraged to invest more by being promised higher returns, and then pressured to do so or risk of losing all of his money.



Avoid this type of scam



  • Hang up on the caller and taken some time to think about it. Do research and seek trusted or independent financial or legal advice.

  • Check on the ASIC website to ensure the business is a registered financial advisor. Any business or person that offers or advises you about financial products must be an australian financial services licence holder. Check ASIC's list of companies you should not deal with.


*the story above is based on one or more real scam reports received by the ACCC. For privacy purposes the names and images of victims have not been used.


Have you been scammed?


If you think you've been scammed or know someone who has, report it to the ACCC using our report a scam page.


Report a scam


If you have lost money, contact your bank or financial institution immediately.





So, let's see, what was the most valuable thing of this article: take a look at our unbiased xtrade review to give you the full facts including information about regulation, account types, leverage, spreads and much more. At xtrades trading & investing

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