Want to see if XTrade is a legit broker? Is it safe to trade? It spread is high or low? How long to deposit or withdraw funds?

We provide answers to all the questions in this XTrade Review.

We checked all XTrade licenses and regulations to see if XTrade scam or safe. We compared XTrade fees, spread & commission from its live account to over 150 brokers, required time for deposit & withdrawal and many more findings all in this review.

What is Xtrade

XTrade is a Forex broker, operating since 2003.

Previously the company operated legal and regulated entities in South Africa and Cyprus, however recently it operates solely through its international branch based in offshore Belize.

XTrade highlights

πŸ—ΊοΈ Regulated inBelize
πŸ›‘οΈ Is XTrade safe to tradeNo
πŸ’΅ EUR/USD spread0.5 pips
🏦 DepositBank Wire, Local transfers, Cards, e-wallets
πŸ’° Minimum depositUS$250
🏦 WithdrawalBank Wire, Cards, e-wallets
πŸ’» Trading platformXTrade WebTrader, Apps
πŸ’³ Trading marketsCFDs on Forex, Commodities, Metals, Indices, Stocks, ETFs
πŸ“ˆ Number of product400+
πŸ“‰ Live chat responseBasic answers and slow speed

Regulation

License and Regulation are the keys to your fund security. We check two facts, what license broker carry and its background, and how are you protected in case things go wrong.

Is XTrade legit

XTrade now runs all its operation from Belize entity and is registered according to local laws and IFSC regulation.

XTrade licenses and status

EntityRegistered inRegulatorLicense no.Status
Xtrade International LtdBelizeInternational Financial Services Commission (IFSC)000281/123Registered

Is XTrade safe

XTrade we can not considered safe because it lacks serious regulations.

Previously XTrade has Cyprus CySEC and FSCA regulated entities in South Africa that provide constant overseeing over the broker operation. For now, since XTrade is solely offshore based broker there is no enough regulations and strict transparency.

XTrade compensation scheme

EntityCompensation AmountNegative Balance Protection
Xtrade International LtdNo compensationNo

XTrade does not fall under regulatory restrictions to provide negative balance protection or compensations, also traders money are not protected or audited.

XTrade Review – IFSC Regulation
XTrade Review – IFSC Regulation

Markets and Products

At XTrade you can trade instruments as CFDs, including Forex, Commodities, Indices, Stocks, Bonds, ETFs.

From the downside Cryptocurrencies, Futures or Currency pairs are not available.

Forex

Forex currency pairs are traded also like Contract for Difference and including major, minor and exotic pairs.

MarketsInstruments
Forex45
Indices11
Commodities17
Bonds5
Cryptocurrencies–
Shares200+

Account types

XTrade has four account types with different extras and benefits including in the package and discount on pricing.

Login

XTrade operates several website domains, where logins are available on the main page to your account management area Demo or Live.



StandardPremiumPlatinumVIP
Minimum Deposit250 USD1,000 USD5,000 USD20,000 USD
Minimum Balance––––
Spreads From0.5 pips0.5 pipsDiscounted spreadsDiscounted sprads
CommissionsZero CommissionsZero CommissionsZero CommissionsZero Commissions

Fees and commissions

We ranked XTrade fee levels as low based on its Live Account Spread and compared to 150 brokers in our database.

The spread we collected for popular instruments from 6 markets and over 150 brokers

MarketsInstrumentsLowAverageHigh
ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS 5000.1-0.40.5-1.41.5 or higher
CommoditiesGold0.1-0.40.5-22.1 or higher
StocksTesla0.1-0.50.6-11.1 or higher
ETFsUS Russell 20000.1-0.40.5-1.41.5 or higher
CryptocurrenciesBitcoin0.1-0.5%0.6-0.9%1% or higher

Spreads

XTrade fee structure is all built into variable standard spread, and is discounted for higher account types.  

We check and test Standard account and found fees are competitive compared to industry benchmarks.

MarketsInstrumentsStandardOther brokers’ avg spread
ForexEUR/USD0.51-1.5
IndicesUS 5000.30.5-1.4
CommoditiesGold0.60.5-2
StocksTesla0.440.6-1
ETFsUS Russell 20000.070.5-1.4
CryptocurrenciesBitcoin–0.6-0.9%

Other Fees

XTrade has average non-trading fees. There is no fee for deposit, yet some withdrawal methods may add on commission charge, also inactivity after 3 months charges 50$.

Trading Conditions

Trading conditions at XTrade are good. You can deploy mostly all strategies including scalping, and hedging.

Trading ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

For hedging, no time limitations for hedging positions.

For scalping, scalping strategies are not restricted.

XTrade has no VPS servers service, nor run of Expert Advisors (EAs) since MetaTrader is not available.

Trading Leverage depending on the instrument you trade and goes up to 1:500.

Deposit

XTrade charges no deposit fees. You can use various methods from supported  deposit methods including bank transfer, local bank transfers, credit cards, and e-payments.

Deposit MethodFunding TimeFee
Bank Wire TransferBusiness day0$
Credit / Debit CardsBusiness day0$
YandexInstant0$
FasaPay, giropay, iDeal, Vload, Boleto, etcInstant0$
Local Transfers (rapipago, Bancomer, Itau, etc)Instant0$

Minimum Deposit

The minimum deposit is different for each XTrade account type. The very minimum is Standard account requiring 250$ at the start.

XTrade Review – Deposits and Withdrawals
XTrade Review – Deposits and Withdrawals

Withdrawal

Similar to deposits XTrade does not charge internal withdrawal fees, however local transfers will add on processing fee as defined by the payment provider.

XTrade process withdrawals using the same methods as your deposit, where e-wallets trasnfers will be returned to Skrill or Neteller wallets.

Withdrawal MethodWithdrawal TimeFee
Bank Wire Transfer2 business daysFree
Credit / Debit Card2 business daysFree
e-wallets, Neteller, Skrill2 business daysFree

Bonus

XTrade offers various bonuses, welcome bonus, cash rebates and VIP program. Plus, a reward program allowing to gain XPoints for trading activity that you can further exchange for discounts.  

XTrade Review - Bonus
XTrade Review – Bonus

Trading Platform

XTrade mainstays on its own easy to navigate XTrade WebTrader, MetaTrader industrypopular platform is not available.

App

There are two Xtrade Apps, one is Mobile Trading App and another one is designed for Tablets use.

XTrade Review – MT4 platform
XTrade Review – MT4 platform

Research and Tools

XTrade research tools are good but limited.

You can find some basic research on XTrade platform, and Financial Calendar, News, Daily Analysis Videos and Calculators on website.

On the negative side there is no Fundamental data or research from leading industry providers.  

XTrade research tools are available through:

  • Trading platforms
  • News and Analysis section on the website
XTrade Review – Research
XTrade Review – Research

Education

XTrade education is on a basic level.  .  

You can find various courses, videos, tutorials, trading articles and in education section, however we see it is on regular level.

Demo

Demo accounts are on free use and available for all clients, you can login to your Demo right from the website.

At XTrade you can learn though:

  • Demo account
  • Trading videos and tutorials
  • Webinars, Courses
  • Educational articles
XTrade Review – Education
XTrade Review – Education

Customer Service

XTrade customer service is average, the agents were not available on Live Chat and we had very basic answer via email.

You can contact XTrade 24/5 by:

  • Live chat
  • Telephone
  • Email
XTrade Review – Customer Service

XTrade live chat is a available on website or platforms but often refers to leave a message Β 

Question AskedWe asked about fees.
Time of ReplyWe couldn’t connected to Live Chat and got a reply within two days through email
Quality of ReplyThe answer was very basic, just providing a link to website.  

Conclusion

For now we do consider XTrade is not safe to trade.

As we saw throughout our research firm operated previously regulated Cyprus entity, however at the moment all operation for XTrade brand is done through offshore Belize which we consider high risk to trade with.

For the trading proposal, Xtrade offers rather basic trading conditions but on a good range of trading instruments.

We would recommend to make your own research before signing with XTrade and do not trade with offshore broker entity.

Author of this review

By Jimmy O'Brien

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.

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