XTrade Review Australia
Getting into the financial world, with all the risks and opportunities that abound in there, you need to ensure that you fund a decent and reliable forex broker. No matter your level of expertise in the trading market, beginner, or experienced, you need an honest broker to rely upon, especially now that the world has gone digital, and there is an abundance of brokerage firms online.
It can be time-consuming and such a daunting task to find a good broker in the financial market, most importantly, a broker that meets your financial and trading needs. You sometimes have to shuffle between different broker websites, books, and complicated terms.
There is a need for caution in picking any forex broker online, as you need to look into the foundation and services offered by any broker you choose. A lot of scams are online posing as legit brokers, and invariably, a lot of unsuspecting investors and traders are losing their funds and investment to these scam brokers. You do not want to be a victim of these scams.
For this reason, there is a need to look into the features and services offered by brokers. Hence, you need to keep reading this review to the end as you will be provided all the details you need to make an informed, profit-oriented choice of a reputable and best forex broker.
In our review of XTrade, we break down the features and services of the company and why it is a reliable broker or otherwise. Our unbiased and independent review will help you make a smart choice after going through the features and other details of the company.
XTrade Australia at a glance
|Parent company||Financial arena limited (Xtrade international limited)|
|Regulations||International financial services commission in Belize|
|Location||Belize city, Belize|
|Customer support||24 hours a day, five days a week : phone, email, and live chat|
|Education||Video tutorial, courses, glossary, and blog|
|Products||Major, Minor, exotic (forex), CFDs, indices, commodities, shares, cryptos, bonds and ETFs|
|Cryptocurrency products||Bitcoin (BTC), Litecoin (LTC), Dash coin (DASH), Ethereum (ETH), ripple (XRP), Neo, Zcash, Monero|
|Language supported||35 multiple languages – English, French, Portuguese, Italian, Dutch, Spanish, Russian, Danish, Hungarian, Arabic, Japanese, polish, Swedish, Czech, Indonesian, Slovenian, Finnish, Greek, Filipino, Croatian, Slovakian, Bulgarian, Bosnian, Hindi, Vietnamese, Serbian, Persian, Korean, Malaysian, and others.|
|Trading platform||XTrade web trader, mobile trading app, tablet trading app – iOS and Android enabled|
|News and analysis||Financial calendar, financial news, daily analysis, videos, and calculators.|
|Fees||· No deposit fees.
· No withdrawal fees.
· Dormant account one year maintenance fee: $60 per month.
· Inactive account (3months): $10 per month.
|Minimum deposit||$ 250|
|Trading accounts||Standard account, and premium account|
XTrade is one of the top brokers in the financial market that are making experience favorable for their clients. The Belize-based brokerage firm serves its numerous customers globally and has a lot to offer both beginner traders and experienced forex traders. By all means, XTrade, as a broker, has gained experience over the years of successful service delivery to traders and investors.
Hence, this broker has enough experience in the trading market, a significant indication that the broker has all the essential tools and facilities that a trader needs in a good broker.
In committing your funds and investment to any broker, it is imperative to know the reliability and reputation of the broker, as well as the experience of the brokerage company in the market. Since its inception of financial service delivery in the financial market, XTrade has been offering its clients the contract for difference (CFD) as it is authorized by law. The company provides the traders and investors on its platform, the opportunity to trade on various assets and products like shares, indices, commodities, major and minor currency pairs, bonds, and ETFs.
With the introduction and acceptance of cryptocurrency in the financial market, XTrade has equally provided over 15 digital currencies for its clients to trade. Unlike some brokers that claim to offer clients crypto trading but with a limited number, the XTrade brokerage company allows traders to choose from a wide range of crypto to trade, even pairing against some major currencies in the market. This is why a lot of the clients of this broker have been giving positive remarks and feedback because this broker provides everything that a trader will need in the market.
This broker offers various technical and professional supports to its clients, as well as providing them with trading tools that will aid them in the market. An excellent example of this tool is the educational resources and the daily market review.
In relation to its wide acceptance and years of experience, this broker has been recognized with different awards for its global service delivery. XTrade has bagged several awards and achievements in the financial market industry – a clear indication that its services are recognized and appreciated among market investors.
In terms of regulations, XTrade and its activities are regulated by the international financial services commission in Belize. The regulation secures the personal data and investment of traders and investors. In addition, XTrade consistently provides security and safety of the funds of traders under its services and all online transactions. This broker is considered a safe broker as it allows for necessary measures to protect its traders and investors.
The XTrade trading company provides several trading instruments for its numerous clients. These trading instruments are made available through the CFD models that support flexible opportunities on price speculation without ownership of an asset. The XTrade CFDs provide CFD trading on the majority of actively traded shares, indices, forex, commodities, ETFs, and cryptos. The broker offers a leverage of up to 1:400 and offers market fixed spread between the buy and sell prices.
This broker knows the importance of trading and keeping abreast of the latest and up-to-date information in the market. Therefore, XTrade has provided educational materials and resources for its traders and investors to refresh their trading skills and try new trading techniques. These resources and materials are evergreen and useful for both beginners and experienced traders.
Furthermore, traders have the option to trade with the demo account, which is a virtual account, before committing their real assets to trade. With the demo account, you can familiarize yourself with the trading platform, market trends and deals; try out new techniques, master new trading tactics, and much more without risking your real funds. The demo account with full trading features of the real account can be beneficial for both newbies and experienced traders. In addition, traders have the option of two real trading accounts to choose from, each with its features and benefits.
Deposit and withdrawal of your profit on XTrade are spontaneous with different channels provided by this broker. Clients can use their credit card or other available channels like Skrill, Neteller, Jeton, and others.
What services and features does XTrade offer?
Responsive customer support from XTrade
The XTrade brokerage firm has a team of customer service personnel, poised to assist clients in their daily market and trading account management. These trained professionals respond to questions and queries of traders on this platform. You are provided with 24 hours and 5 days a week support. You can reach the customer service with multiple channels through the telephone, email, ticket, and live chat. The broker regularly requests for feedback from customers about any complain or dispute through email.
Multiple language options
Navigate through the website of this broker, and you will be amazed at how convenient it is to interact with the interface. To further ensure that customers from any part of the world are attended to, this broker provides up to 35 multiple language options cutting across the different countries of the world. These languages include but not limited to English, French, Portuguese, Italian, Dutch, Spanish, Russian, Danish, Hungarian, Arabic, Japanese, Polish, Swedish, Czech, Indonesian, Slovenian, Finnish, Greek, Filipino, Croatian, Slovakian, Bulgarian, Bosnian, Hindi, Vietnamese, Serbian, Persian, Korean, Malaysian, and a host of other important languages. The reason for this is to help you understand the services and features of the firm and have a better understanding of the trading platform in your convenient language.
Unique trading platforms
When trading CFDs in the market, it is essential to have a reliable and responsive trading platform. To adequately accommodate the various assets and products offered by XTrade, this broker developed its web trader. This browser-based trading platform can be accessed from any internet-enabled web browser and provide a rich set of features and trading tools for optimized trading experience. The web trader requires no download or maintenance and can be accessed from any web browser like Google Chrome, Mozilla Firefox, Opera, and others. This user-friendly trading platform enables access to all trading functions in terms of alert, notifications, and other professional charting tools.
In order to enjoy a better trading experience and never miss out on any trading opportunity, the broker equally developed a mobile trading app. This mobile trading platform includes full features and functionality, as well as all the trading tools and technical indicators. The user-friendly trading platform can be used in any location and at any time. This mobile platform for smartphones and tablets is available on Google Play for Android users and the app store for iOS users.
Free demo trading accounts
XTrade provides the opportunities for trades on its platform to try their trading skills with the risk-free demo account. This is available for beginners and experienced traders, but most suitable for newbies who are new to forex and crypto trading. The demo account gives you the opportunity to test your skills and strategies, familiarize yourself with the trading platform and trading tools available, and discover how the market trend works.
While all the features and functions of the real trading accounts are available in the demo account, traders should understand that simulation gains or losses cannot be compared to the actual trading platform.
The moment you open a trading account with this broker, a demo account is activated for you and will be funded automatically within seven days after registration.
It should also be noted that the demo account does not expire, and you can toggle between the demo account platform and the real trading account platform as you please.
Multiple real free trading accounts
Aside from the demo account option, this broker equally provides the real trading accounts known as a live trading account. There are two trading accounts available, and the registration for both is free.
- XTrade Standard Account: with a minimum deposit of $250, this trading account is suitable for both beginner traders and experienced ones, who are able to take a limited level of risks in the market. The account comes with the following features.
- Desktop and mobile trader.
- Demo account.
- Economic calendar.
- Daily video market review.
- One-on-one platform lesson.
- 24 hours a day, five days a week customer support.
- XTrade Premium Account: this premium trading account is suitable for professional traders in the market. The account comes with a $1000 minimum deposit. In addition to the features of the standard account, the premium trading account has the following additional features:
- Exclusive welcome bonus.
- Autochartist, market analysis, reports, and forecast.
- Dedicated account manager.
- Educational video tutorials and eBooks.
To open an account with XTrade, it takes three steps, and these are:
- Complete an online application with your personal contact information, proof of identity, and residence documentation. This can be done on desktop, tablet, or smartphone devices within five to ten minutes.
- Complete the approval process by verifying the information you have submitted in your application. This can be done within 24 hours.
- Fund your trading account with any of the leading online transfer mechanisms for deposit and start trading. Note that you may open only one trading account.
XTrade bonus package
XTrade, as a customer-friendly broker has decided to reward the loyalty of its customers across the globe by giving out the following bonuses and rewards.
- Phone verification bonus – This gives you up to $25 cash bonus for verifying your phone on the XTrade trading account. To redeem this, you need to accumulate 300 points within 30 days.
- First deposit welcome bonus – This gives you up to $6000 as well as a full training pack to learn more forex tricks. This bonus is added to your trading account when you have accumulated the required number of trading points within 30days.
- Account verification bonus – Verify your account and receive a 20 percent bonus. This bonus is credited to your equity and can be used for trading purposes. 300 Xpoints is required to redeem this bonus and must be within 30 days.
- First trade on XTrade bonus – When you open your first deal, XTrade will cover it by allowing you to keep any profit earned or refunding the loss up to 500 US dollar cash.
- Special XTrade VIP package – The benefit of this bonus include personal account management, extra training session, discount ion spread, exclusive promotions and bonuses, special financing terms, and valuable gifts.
- Exclusive 77% bonus offer – When you sign up as an XTrade customer, the company’s ambassador and football star, Christiano Ronaldo, will give you an enormous 77 percent bonus on every deposit you make within the first seven days.
Trading instruments and products
The XTrade instruments and products are provided for the company’s clients through the CFDs. The CFD allows for trading on assets without necessarily having ownership of the asset. This broker has provided the following trading instruments.
- Forex trading – major and minor currency pairs.
- Cryptocurrency trading.
- Index CFDs
- Commodity CFDs like gold, silver, oil, natural gas, and others.
With the above-stated facts and features of XTrade, it is evident that the broker brings trusted and stable conditions to trade. As a regulated broker, the broker follows a secured system of ensuring the protection of assets and funds of traders on its platform. The company also employs the Know Your Customer (KYC) system to verify and protect the identity and that of its customers.
Going by the above services and features, XTrade is a trusted choice to engage as a broker in trading.