Xtrade Review

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

🗺️ Regulated in	Belize
🛡️ Is XTrade safe to trade	No
💵 EUR/USD spread	0.5 pips
🏦 Deposit	Bank Wire, Local transfers, Cards, e-wallets
💰 Minimum deposit	US$250
🏦 Withdrawal	Bank Wire, Cards, e-wallets
💻 Trading platform	XTrade WebTrader, Apps
💳 Trading markets	CFDs on Forex, Commodities, Metals, Indices, Stocks, ETFs
📈 Number of product	400+
📉 Live chat response	Basic 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

Entity	Registered in	Regulator	License no.	Status
Xtrade International Ltd	Belize	International Financial Services Commission (IFSC)	000281/123	Registered

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

Entity	Compensation Amount	Negative Balance Protection
Xtrade International Ltd	No compensation	No

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

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.

Markets	Instruments
Forex	45
Indices	11
Commodities	17
Bonds	5
Cryptocurrencies	–
Shares	200+

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.

	Standard	Premium	Platinum	VIP
Minimum Deposit	250 USD	1,000 USD	5,000 USD	20,000 USD
Minimum Balance	–	–	–	–
Spreads From	0.5 pips	0.5 pips	Discounted spreads	Discounted sprads
Commissions	Zero Commissions	Zero Commissions	Zero Commissions	Zero 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

Markets	Instruments	Low	Average	High
Forex	EUR/USD	0.1-0.9	1-1.5	1.6 or higher
Indices	US 500	0.1-0.4	0.5-1.4	1.5 or higher
Commodities	Gold	0.1-0.4	0.5-2	2.1 or higher
Stocks	Tesla	0.1-0.5	0.6-1	1.1 or higher
ETFs	US Russell 2000	0.1-0.4	0.5-1.4	1.5 or higher
Cryptocurrencies	Bitcoin	0.1-0.5%	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.

Markets	Instruments	Standard	Other brokers’ avg spread
Forex	EUR/USD	0.5	1-1.5
Indices	US 500	0.3	0.5-1.4
Commodities	Gold	0.6	0.5-2
Stocks	Tesla	0.44	0.6-1
ETFs	US Russell 2000	0.07	0.5-1.4
Cryptocurrencies	Bitcoin	–	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 Conditions	Yes/No
Hedging Allowed	Yes
Scalping Allowed	Yes
Change Leverage Allowed	Yes

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 Method	Funding Time	Fee
Bank Wire Transfer	Business day	0$
Credit / Debit Cards	Business day	0$
Yandex	Instant	0$
FasaPay, giropay, iDeal, Vload, Boleto, etc	Instant	0$
Local Transfers (rapipago, Bancomer, Itau, etc)	Instant	0$

Minimum Deposit

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

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 Method	Withdrawal Time	Fee
Bank Wire Transfer	2 business days	Free
Credit / Debit Card	2 business days	Free
e-wallets, Neteller, Skrill	2 business days	Free

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.  

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.

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

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

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

Question Asked	We asked about fees.
Time of Reply	We couldn’t connected to Live Chat and got a reply within two days through email
Quality of Reply	The 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.