XTrade: Is It a Reliable Online Trading Platform?
Online trading has become fairly popular since its arrival. Today, many traders are making online transactions with platforms that provide every financial instrument from stocks and commodities to bonds and ETFs. And the use of such platforms is only going to go upwards. Multiple companies offer traders the platform they require for online and forex trading.
XTrade, one of the many global online multi-asset brokerage companies, was founded in 2003. Over the years, the company has grown to offer CFD trading and forex trading to retail investors. In its long-running period, the company has gained a high level of client service by offering reliable trading instruments.
XTrade is registered officially in Australia and is controlled and regulated by the local authority. The financial regulator of Australia is well-known for its requirements for Forex brokers. One of the many important conditions is available equity capital along with its constant maintenance.
The company also operates its branch in Cyprus. The regulator of Cyprus operates according to the European Union laws. It strictly keeps an eye on the broker for the fulfillment of obligations before clients.
One of the companies of the broker is also registered in Caribbean Belize.
Like most registration processes, creating an account on XTrade’s website is no different. The client needs to fill in his first and last name, email address, and phone number, excluding the country code (automatically determined by the system).
After a trader is done with filling in all this data, he enters his account. The company informs the trader about the trading account, and the details about it are sent to the trader through the email address. Along with it, the trader also receives a welcome bonus.
The brokerage company offers different trading instruments to its clients, which are suitable for beginners and experienced traders. The clients can use the following:
- Currency pairs
- Commodity features
- Indices and stocks of different countries.
It also offers some ETFs. The company uses a zero-commission fee structure and takes money from only spreads. Spreads aren’t constant and can vary accordingly.
Coming to leverage rates, they can go to a maximum of 1:400. For indices, leverage ranges from 1:20 to 1:200; for commodities 1:10; for forex pairs, it is between 1:50 to 1:400.
The company focuses on CFDs and forex trading.
The company developed the platform for trading independently, and the traders are encouraged to use that only. It depends on the traders whether they choose web or mobile versions. The mobile app is available for both Android and iOS smartphones.
The trading platform has an intuitive and practical interface. Traders from every level can use the service without much difficulty. The broker provides a large list of functions and tools, including analyses, different charts, live prices, and statistics. While placing an order, the trader can apply multiple variables to make maximum profit with minimal losses.
Funds deposit and withdrawal
The broker offers multiple payment methods for clients from various countries. The traders are offered:
- Electronic wallets
- Banks cards as well as transfers
The maximum deposit limit on payment cards is $15,000, but there is no limit for the wire transfers. Traders can make use of e-wallets and other payment providers, with each having its maximum deposit limit.
The minimum deposit that a trader can make is $250, which can be further reduced with promotional events.
The withdrawal method must be the same as the deposit. Any method approved by the trader can withdraw any withdrawal amount exceeding $150. According to the company’s rules, it can take five business days for funds withdrawal. The timing also depends on the method of payment system chosen.
Online traders are offered four types of accounts, namely:
The difference between the accounts is based on the minimum deposits, fixed spread, and commissions. The broker doesn’t offer floating spreads to any clients, and quotation accuracy contains four-digit quotes.
VIP clients are on the top and have some benefits over other account holders. It includes using a personal manager’s service with more training material. Other benefits are the following:
- Special offers, promotions, and bonuses
- Spread discounts
- Special training
- Gifts from the broker company
There is a fully-equipped demo account available for beginners. It helps them to understand and study the trading platform before creating an actual account. The account can show the real-time market positions according to the price.
The brokerage company delivers various promotions and deals to its clients. It offers many types of welcome packages containing rewards like:
- 20-60% bonus on the first deposit, and it must be used under a month
- If you gain 300 points within a month, you clinch 20 bonus dollars
- If you finish your first transaction, there is an incentive for it
Client service is the primary thing that many traders look for in a trading platform. XTrade doesn’t disappoint you regarding this as there is a staff working around the clock daily to give the clients the support they need. If you face any difficulty, you can contact the operators by any of the following methods:
- A phone call
- Online chat
The support staff knows six languages. It means that the managers can communicate with the clients directly, explaining the functionality of the training materials and systems.
The clients of the company can undergo training in its educational center or training academy. A lot of videos, books, and other material are available there for traders.
Benefits of the company
The company allows online traders to bring their dreams to reality. The advantages that a trader gets from the broker include:
- Experience in trading markets
- Demo account
- Large selection of training material
- Protection of the funds
- Secure financial transactions
- Detailed market reviews and analysis
- Mobile support
The company, to improve the client experience, regularly tries to improve the system functionality.