Xtrade forex

New forex bonuses

His point was that after I deposit $1000 I would be able to withdraw this deposit within a week - maximum 2 (GUARANTEED) and then trade with what I would had left on my account. Also both of them, anna and zhan, said that there would be just one condition for me to be able to get profit - NOT TO OPEN ANY TRADES ON MY OWN! That was the condition. Of course I would not - I know nothing about trading whatsoever! So after I deposited $1000 i was assigned aleksandr nazarov to be my account manager. 3-4 lucky deals under his 'supervision' then my account went to deep minus. They changed my account manager - alexandr antipov, who said if i deposit more money he would do his best to recover my account - never happened too. I then deposited $300 not to lose what I had locked. Then I spoke to my friend who is a solicitor in this field and if you have been in the same situation I recommend to read this letter (below) and take what you can out of it. So I submit a letter to their compliance department asking them to return my deposit - they reinstated my account with virtual money to sit the draw down until price goes back to where I opened it (never happened it was EURUSD I had a sell at 1.08 something and it never returned to this level) so I lost it at the end. Join live discussion of xtrade.Com on our forum

Xtrade.Com review

Formerly xtrade.Ru (.Eu)

Xtrade is a forex broker. X trade offers web trader and mobile forex trading platform. Xtrade.Com offers over 55 currency pairs, shares, indices, cfds, commodities, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Other websites of this company include fxcryptotrade.Net.

Broker details

established:	2012
address:	no.5 cork street, belize city, belize. C.A, belize
contact:	support@xtrade.Com, 1800 017 5700
regional offices:
regulators:	IFSC #IFSC/60/383/TS/19
prohibited countries:

deposit methods:

bank wire, VISA, mastercard, alipay, astropay, boleto, BPAY, cartão mercado livre, CASHU, ecopayz, elo (brazil), epay (epay.Bg), EPS, fasapay, giropay, halcash, ibank&banklink, ideal, itau, JCB, jeton, moneta.Ru, multibanco, neosurf, oxxo, pagoefectivo, pagofacil, payu, poli, przelewy24, PSE, qiwi, rapipago, SOFORT, teleingreso , toditocash, unionpay, vload, webmoney, wechatpay, wire2pay, yandex money

withdrawal methods:

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Traders reviews

Length of use: 0-3 months

Guys .. Please this is true review about xtrade.Com . Please dont trust this company or invest your money in it . Its a big scam and they play very dirty game to cheat people and steal their money. So dear friends .. Please stay away from xtrade.Com.

Aug 13, 2017 - 1 star please dont deposit your money with xtrade . It is a fraud company . I lost all my hard earned money trading with them . Guys please stay away.

I dealt with their russian speaking desk, first it was anna novikova. Then zhan rusov, who was pushing me so hard, advising me to TAKE A CREDIT IN A BANK AND HE COULD EVEN RECOMMEND A BANK - what a scam. His point was that after I deposit $1000 I would be able to withdraw this deposit within a week - maximum 2 (GUARANTEED) and then trade with what I would had left on my account. Also both of them, anna and zhan, said that there would be just one condition for me to be able to get profit - NOT TO OPEN ANY TRADES ON MY OWN! That was the condition. Of course I would not - I know nothing about trading whatsoever! So after I deposited $1000 i was assigned aleksandr nazarov to be my account manager. 3-4 lucky deals under his 'supervision' then my account went to deep minus. They changed my account manager - alexandr antipov, who said if i deposit more money he would do his best to recover my account - never happened too. I then deposited $300 not to lose what I had locked. Then I spoke to my friend who is a solicitor in this field and if you have been in the same situation I recommend to read this letter (below) and take what you can out of it. So I submit a letter to their compliance department asking them to return my deposit - they reinstated my account with virtual money to sit the draw down until price goes back to where I opened it (never happened it was EURUSD I had a sell at 1.08 something and it never returned to this level) so I lost it at the end.

Overall it was a long and stressful story. Just read it and take what you can out of it. If you had been given a fraudulent investment advice - find a solicitor in this field, complain to FCA in london, even if you are not there - it costs nothing to file a complaint there, but it costs a lot to a broker. Keep all recordings that you were given (emails, record telephone calls - also THEY DO HAVE RECORDED TELEPHONE CALLS, so if you were in the same situation as me, you or a FCA can request them. They might give you many many reasons why they cannot have an access to them, but when they need it - they find it within 5 mins - personal experience).

Also, when you ask your account manager WHY he gave you wrong advise, which happened every single time after i filed a complaint, they think it is fine to call you back and start screaming his a** off at you and then put the phone down.
It was a VERY bad experience with this company.
Letter(main part):
ON monday, the 8th of may 2017, I received a call from aleksandr nazarov who told me that I need to deposit another $2000 to be able to trade commodities and where I can earn 'real' money. He also offered me to borrow this money. I refused. Then we opened a first EUR/USD deal, I got some profit. Then another 3-4 deals were profitable. On the 12th of may he tells me to open a $50 000 EURUSD sell trade. Which I did. It went to $-220, then $-400, $-700 and so on, now it is $-1400. I was emailing him each time it went more in minus, he would say to wait, wait, wait and that it should go down soon. So I waited and waited as was advised by aleksandr. Until my equity shrinked. Now I only have $100 equity. Positions still opened - you charge me fees every day to keep them open and he said I need to wait until he calls me and not to do anything about it. I am still waiting.

Now I have three positions in my account and my LOSS is locked there. And yesterday alexander called me, saying that he has spoken to analytics and they came to a conclusion that I need to deposit more money in order to save my accont from the state that HE got me into! This does sound like a scheme.

My complaint:
you are neither authorised nor qualified to give any investment advises. Your company is a broker, not a financial advisor. You do not have any license for giving finincial advices. I have no knowledge of FX markets whatsoever and you abused your position by pushing me with fake promises to deposit money, then to open the trade, which was initially not in my favour, as well as pushing me to take the maximum leverage since the commissions are higher (for beginners there should only be a leverage of maximum 1:25 and at no point 1:400), now I have 3 positions opened where you charge me fees daily but no one tells me to close them, as you get your fee daily on them - very dishonest! I have our correspondence with alexander where he 'advises' me to keep the trades.
I want you to reimburse my deposit of $1000 either to my account, so I can withdraw it or right into my bank. If you do not do so, I and my solicitor in london will report you to financial ombudsman in london, FCA, CROFR, naufor and cysec and any other institution we find relevant to this case. We will start with cysec as they still passporting a financial service from cyprus to the UK and you still broker to the financial authority code of business.

Xtrade review and tutorial 2021

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Xtrade is an online FX & CFD broker offering its own bespoke desktop and mobile platform.

Trade on over 50 major, minor, and exotic currency pairs.

Xtrade is a cysec-regulated forex and CFD broker. To help you decide whether to open an online trading account, this review explores the broker’s platform, mobile app, minimum deposit, payment methods, and more.

Xtrade company overview

The CFD investment broker is owned by xtrade group limited and is headquartered in limassol, cyprus. The company has several daughter brands, including xtrade europe ltd. And xtrade international ltd that service clients from dubai to uruguay.

The broker was founded in 2003, has 15 offices worldwide, and is registered with over 10 regulatory agencies, including in cyprus, the philippines, malaysia and the UAE. Xtrade does not, however, provide services to the UK, canada and some other countries.

Xtrade webtrader platform

The proprietary web-based platform requires no download or installation. Even from the login page the design is intuitive for newcomers while the effective trading tools have helped the platform pick up multiple awards. It’s accessible in 11 languages and offers 12 technical indicators, 4 chart styles, 9 time periods, and 17 analysis tools. There is also an integrated economic calendar, news thread and a signals service.

Xtrade platform

Note, the popular MT4 trading platform download is not available.

Assets & markets

More than 200 online FX and CFD instruments are available, including:

56 forex pairs – 19 majors, 9 minors, & 28 exotics

Commodities – precious metals & energies

Stock indices – eight global stock indexes

Shares – close to 200 company shares

Xtrade also offers a handful of etfs.

Spreads & commissions

Xtrade uses a fee structure with zero commissions, only taking money from spreads. Spreads are variable, for example, GBP/USD spreads can range from 2.5 to 5 pips, EUR/USD ranges from 1.7 to 5 pips and EUR/GBP ranges from 3 to 5 pips.

Some user complaints highlight the $50 inactivity fee charged to accounts dormant for more than three months. Overnight premiums, or swaps, are also charged for positions that are held open after 22:00 GMT.

Leverage

Leverage rates vary up to a maximum of 1:400. The leverage levels for indices range from 1:20 to 1:200, commodities up to 1:10, forex pairs can be leveraged between 1:50 and 1:400 and stocks up to 1:5. Retail traders in EU-regulated markets, such as germany, are capped at a leverage of 1:30, as per ESMA regulations.

Mobile apps

The xtrade platform has also been developed for mobile use with ios and android smartphones and tablets.

Called ‘xtrade online trading’, the mobile app is easily installed, with a responsive user interface and much of the capability provided by the web-based platform.

The application allows one-touch trading with live prices, charting options, analysis tools, notifications and account funding options.

Many of the additional tools, such as autochartist signals and economic calendar are also available on the mobile platform and receive good reviews.

Xtrade mobile app

Payment methods

Xtrade offers a wide range of payment methods that vary for clients from different countries. All clients are offered visa and mastercard payment card options as well as bank wire transfers.

There is a maximum deposit limit of $15,000 for payment cards, though there is no limit on wire transfers. Traders can use tens of domestic e-wallets and payment providers, including unionpay and neteller, each with their own maximum deposits.

There is a minimum deposit of $250, though this may be reduced during promotional events.

Withdrawals must be made using the same method as the deposit. However, if a deposit was made using an e-wallet, then withdrawals can be processed via bank transfer, skrill or neteller.

Xtrade can take up to five days to process a withdrawal, though it may take longer to reach the target account as some payment providers take extra time to process. There are no deposit or withdrawal fees charged on the part of the broker.

Demo account

There is a fully equipped online demo account available to current and prospective clients, allowing traders to get a feel for forex and CFD trading on the platform. The account uses simulated money and once passed the login page, you can open and close positions at real prices in real markets, meaning there is no risk to capital.

Deals & promotions

At the time of writing there are no welcome or deposit bonuses on offer. However, they do run periodic promotional campaigns and have been known to drop minimum deposits, offer deposit bonuses and even team up with international football star cristiano ronaldo.

Note, always check bonus terms and conditions before you begin account registration.

Regulatory status

Xtrade is a licensed forex broker authorised and regulated by the cyprus securities and exchange commission (cysec) in europe, and several other agencies for its international services.

Xtrade international ltd also complies with the international financial services commission’s regulations for worldwide trading.

Clients’ funds are kept segregated from the company’s, meaning that the company’s and clients’ assets are clearly distinguished, providing monetary security to traders.

All client accounts are also opened under the investor compensation fund (ICF), which covers traders up to €20,000, should the broker be unable to pay out winnings.

Additional features

As well as their award-winning trading platform, xtrade offers several extra features to its clients. There is a fully populated economic calendar and news stream that can be accessed via the website or through the platform.

There are also daily market analysis videos uploaded both to their website and youtube channel plus calculator tools available for pivot, fibonacci and deal size calculations.

The xtrade website also comes with an education centre that has a range of tools geared towards novices and those with years of experience. The centre covers the basics of the platform and charting to complex trading strategies and market analysis through tutorials, online courses, e-books, pdfs, and a blog. There is also an expansive glossary to help traders cut through any unfamiliar jargon.

Account types

Xtrade does not differentiate between traders, offering a single account type for all real money trading. Every trader gets access to the full range of instruments, web and mobile platforms, plus educational centre. This does mean, however, that less favourable spreads can’t be avoided like they can with many tiered account structures.

Benefits

Clients are provided with a range of competitive features:

Award-winning trading platform

Global licensing and regulation

Daily market analysis videos

Range of payment options

Autochartist signals

No commissions

Drawbacks

There are, however, some areas where the broker could improve:

No cryptocurrency & bitcoin trading

No automated investing capability

No islamic account option

No social trading

No metatrader

Wide spreads

Trading hours

The market trading hours for the instruments supported by xtrade are 21:00 GMT sunday to 21:00 GMT friday during daylight saving and 22:00 GMT sunday to 22:00 GMT friday during winter months. Some instruments may have more limited trading hours, the details of which can be found in the website’s CFD information list.

Customer support

The customer support team can be contacted 24 hours a day, 5 days a week via several methods. There is a telephone line that opens at 22:00 GMT on sunday and closes 22:00 GMT on friday. There is also email support and the broker has a large social media presence.

For general enquiries and support, xtrade may be contacted using a live chat function in the lower right corner of their website. The website supports 35 languages and live chat representatives are available in six different languages. The customer support team can be contacted via:

Email address – support@xtrade.Com

Telephone contact number – +44 2038074001

The support team can help with a range of queries, from how to delete an account, utilise the platform, or navigate account verification.

To follow the broker on social media:

The company’s head office address in cyprus plus its locations in melbourne, australia, amongst others, can be found on the broker’s website.

Trader security

Xtrade provides a high level of cybersecurity, with 256-bit standard secure sockets layer (SSL) encryptions, provided by comodo, on all transactions and website traffic.

The broker has several identity theft and credit card safeguards in place, all of which undergo regular reviews. The website also uses true-site identity assurance and complies with AICPA webtrust assurance standards.

Xtrade verdict

Xtrade is an award-winning provider and a strong competitor versus brokers such as etoro and plus500. Its free signals and well-equipped education centre make it a sensible choice for clients new to trading forex and cfds, in particular.

The ten+ years of industry experience is also a good indicator that they’re safe to trade with.

Accepted countries

Xtrade accepts traders from australia, thailand, south africa, singapore, hong kong, india, france, germany, norway, sweden, italy, denmark, united arab emirates, saudi arabia, kuwait, luxembourg, qatar and most other countries.

Traders can not use xtrade from united states, canada, united kingdom.

Is xtrade a legitimate brokerage company?

Xtrade europe ltd. Is licensed and regulated by the cyprus securities and exchange commission (cysec) for services in europe. Xtrade international ltd. Is licensed and regulated by the international financial services commission in belize. We’re comfortable the broker is not a scam.

What is the minimum deposit for an xtrade account?

The minimum deposit required to open an account is $250 while the minimum position size is 0.01 lots.

Is there an xtrade demo account?

Yes, xtrade offers a demo account with all the capabilities and options available with a real money account.

Does xtrade offer a MT4 download?

No, xtrade only offers its own proprietary trading platform designed for browser-based trading. The platform has also been made into a mobile app for ios and android smartphones and tablets.

Can I open an xtrade account in canada or the USA?

No, xtrade does not provide its services to traders in the USA, canada or other countries where its services conflict with local laws. However, xtrade can be used in many countries worldwide, including india, the UAE, australia and uruguay.

Read our xtrade review and discover why cristiano ronaldo has chosen to be an official partner

It seems that celebrities have decided a good way to support certain causes is to become an official ambassador. Cindy crawford became the brand ambassador for omega watches back in 1995, scarlett johansson recently signed up to support sodastream, and even the UN has realized that celebrities can be used to raise awareness. No wonder businesses and enterprises across the globe are following suit, and it has even filtered into the world of forex trading. Soccer fans amongst our readers will immediately recognize the name of cristiano ronaldo and be suitably impressed. But what about those of you with no sporting knowledge or interest? Keep reading and we’ll give you all the details you need to make an informed choice when it comes to choosing the best forex broker.

Get 77% bonusesoffer for ronaldo’s fans

Max leverage:1:400

Spread:0.3-0.6

Forex licence:cysec, asic, mifid

A brief introduction to xtrade

As always, we like to start our forex broker reviews with an introduction to the background, history and regulation,so, let’s get the ball rolling as it always helps to understand more about a broker’s reputation and experience when you’re looking for a provider to trust with your investments. Xtrade was first established in 2003 and is owned by XFR financial ltd, a company licensed and authorized to operate by cysec, to offer contracts for difference. It also offers trading services on shares, commodities, indices and foreign currencies. It has offices across five continents and clients from more than 140 countries.

Because xtrade first started out processing cfds it has developed its own trading platform

Xtrade began its foray into the world of online trading by offers cfds, which meant an entirely different kind of software was required and led this broker to develop their own. Don’t be put off by this fact as it is very similar in both look and feel to many other online trading platforms. It is both user-friendly and allows one-touch access to everything needed including history and trading tools, open positions, and asset choices. There is no need for any complicated or time-consuming download and there is even an xtrade mobile version allowing traders to trade away from their PC at home. All personal, financial and trading session data is securely encrypted using the latest 256-bit SSL technology.

One account choice for real money as well as a free demo account

It’s always good news to discover there is a demo account, especially for those who are new to forex trading. It can be great preparations for the world of live trading, giving ample opportunity to test out strategies, understand how a trading platform works, and to get a feel for the broker. There is no need to make a deposit, just a simple registration process to complete and you get given a pot of virtual trading money completely free and gratis. Once you’ve found your way around trading in the virtual world it’ll be time to sign up for a real money account. And while some may find it disappointing there is only one type of account, we found using it an enjoyable and easy experience. The minimum deposit for a live account is only $100, which is perfect for the beginner. The real money account offers variable spreads, averaging at around 0.3 to 0.6 pips. Hedging is allowed and there is a trailing stop feature. The account also allows pending orders and automated trading. You may also be pleased to know that xtrade is not adverse to scalping.
With xtrade there is the usual array of payment options so there is no need to worry there.

Xtrade has bonuses galore for investors

Some brokers decide to offer no bonuses or promotions at all, but xtrade seems to have gone in completely the other direction. Here are the current choices, if you’re considering choosing xtrade for your broker.

77% bonuses on all deposits made in the first 7 days – sign up and become a xtrade customer and ronaldo will give you a whopping 77% bonus on every deposit you make within your first seven days.

First deposit bonus – up to $6,000 will be given as a bonus when you make your first deposit. It is, however, only added to your trading account when you have accumulated the required number of trading points, and if this condition is not met within 30 days the bonus will expire.

Phone verification bonus – verify your telephone number and you will receive a free $20 cash bonus. It is credited to your equity and can be used to trade. To redeem it you have to accumulate 300 points within 30 days.

First trade on xtrade bonus – when you open your first deal, xtrade will cover it, allowing you to keep any profit, or refunding the loss up to $120 cash bonus. Terms and conditions do apply.

Account verification bonus – verify your account and receive a free $30 cash bonus. It is credited to your equity and used for trading purposes. You will have to reach 300 xpoints within 30 days in order to redeem it.

Special xtrade VIP package – benefits include personal account management, extra training session, discounts on spreads, exclusive promotions and bonuses, special financial terms, and valuable gifts.

As you can see, xtrade has taken the benefit of offering bonuses fully onboard and offer a great array of special offers. But as you can also tell there are a number of onerous terms and conditions, which is what often trips people up. Nevertheless, as long as you take the time to read the special conditions and understand what is involved these bonuses are definitely worth considering.

What about customer service?

Xtrade offers a more than decent level of customer support and it’s available 24 hours a day, 5 days a week, regardless of where you might be located. There is the option of sending an email, a fax or calling one of the many international telephone numbers. Education also seems to feature very high on the list of priorities with an extensive range of tutorials, courses, and entry to the xtrade academy.
All in all, there is a lot to offer all kinds of traders. It has a great reputation, an interesting and generous bonus system, great trading software and mobile apps, as well as a wide variety of assets and trading instruments. Xtrade is definitely a broker we would recommend trying, so why not start by signing up for a demo account so you can decide for yourself.

Xtrade review

Xtrade forex broker review

The xtrade customer support actually cares to the needs of their customers. The firm has a vast group of helpful and courteous customer support staff that can be of help in terms of the problems on the pages, inquiries and even demands or questions that must be answered. There are certain methods of communication that may also be used like email ad telephone calls. Unlikely they do not offer a live chat at the moment, but it is a good news to those who do not speak the english vernacular, because they offer their hotline in different vernaculars like arabic, spanish, italian and even japanese vernaculars.

The considerations

To be able to start at account at the xtrade platform, you also need to place your initial deposits. The payment systems available in the site are through bank transfers, webmoney, skrill, credit cards and others. There are also other currencies that you can also choose from and to also start a personal account. The american or the canadian dollar, yen, swiss franc, EUR and others. When it comes to the accounts, the platform of the broker has 2 primary accounts. They are the standard which is one of the most appropriate for the novices in terms of trading with a poor experience.

Additional information

Xtrade uses most of the reliable trading platform in terms of the financial trading. They are taking about metatrader4. It is a portion of the system in which most of the dealers in the trade. It is also simple to use and very dependable, very fast in terms of the financial transactions. The xtrade enables you to test the luck of your mobile device. The possibility to trade while you are on the go is just a privilege for you to grasp the greatest odds that you have, that is even if you are not home with a PC, as long as you have a mobile device that can connect to the internet.

Why will you trade through the xtrade?

You might not be conscious enough about the essential structures that are being offered by the xtrade site, however, there may still be doubts in terms whether to join the site or not. Some of the greatest advantages that the dealer bids you without any fee can also be of help to you to make the final choice. You may consider some like the good reputation of the company when it comes to controlling the functionalities to avert money laundering from taking place.

Xtrade review 2020: scam forex broker

The forex market is the largest financial market globally, dwarfing the frenetic and famous stock market by the trillions.

Data by the international bank of settlements shows that the daily FX trading volumes were up by $6.6 trillion by april 2019.

The foreign exchange market attracts massive numbers of traders because the barriers of entry to trade are low. Consequently, the industry is synonymous with loss of cash.

Data shows that 96% of all day traders in forex trading lose their hard-earned capital and eventually quit the market.

Sadly, many people also lose money to scammers. Schedule a free consultation with experts if you want to recover any money you lost to a scam forex broker.

Here, we give you reliable data on the xtrade scam. Let’s go.

Xtrade review: what exactly is it?

Xtrade is a forex and contracts for difference (CFD) broker whose parent company is XFR financial ltd. Its main offices are in limassol, cyprus. Like 24option, it has a cyprus securities and exchange commission (cysec) license. This regulates its CFD trading along the major european economic area zone.

It operates in other jurisdictions through its international financial service commission in belize (IFSC) license.

The business is compliant to the markets in financial instruments directive (mifid). It has a branch in italy and australia, where it operates using its australian securities and investments commission (ASIC) license.

Beyond its registration and licensing prowess, the firm has also perfected its branding. In 2016, xtrade partnered with cristiano ronaldo, the portuguese football star.

According to xtrade’s head of operations, the firm and ronaldo went into partnership because both share the drive to become the top performers in their respective fields. One of the football star’s fantastic promotional lines for the firm states, “to be the best, you need the best!”

Yes, xtrade has proper licensing. And yes, cristiano ronaldo promotes it. That can easily make you think xtrade is legit, right? Wrong. Here’s something you should know about scam forex brokers.

Unearthing forex trading scams

You can cover all the significant risks of FX trading. You can study the minor ones such as psychological, volatility, and credit risks. After all these, you may still find yourself unintentionally exposed to FX trading failure.

Many brokerage firms out there are wolves in sheep’s clothing businesses. These are scammers hiding in plain sight, exposing you to counter-party risk.

A registration license commonly differentiates an untrustworthy trader from one that is not. Regulatory enforcement can protect you and your capital from criminal FX trading activity.

Sadly, there are seemingly legit brokerage firms out there that use their licenses as a guise for misconduct. One of these firms is xtrade.

Why xtrade is a wolf in sheep’s clothing

The firm’s outer façade gives the impression that it is a reliable and popular partner in trade. It does not have hidden fees. Its platform is easy to use and robust.

The truth behind xtrade, however, will become apparent after you have read its user reviews. Here are some of the common complaints:

Unethical behavior such as opening trading positions without the express permission of the account owner

Showing traders artificial accounts with made-up figures and bonuses that you cannot withdraw

Hidden rules that make it impossible for traders to withdraw their cash when they want to

Continuous loss-making trades that often surpass trading capital invested, meaning that advisors discourage traders from using stopgap measures

Problems reaching customer support

Offering financial advice to traders. Their licensing does not cover this. The information often drives newbie traders to make more deposits and incur more losses.

Their proprietary software has a considerable latency in execution, making it impossible to execute speedy trades when volatility is high

The latency in execution often results in orders opening late, causing massive losses for traders

Selective requiting of trades when market prices have changed

Manipulating spread prices on orders to ensure that traders make less profit than usual

Here’s what one reviewer said in forex peace academy:

The awful truth about xtrade

Apart from what reviewers say, here are some more damning facts about xtrade:

The british columbia securities commission (BCSC) issued warnings against xtrade and its sister trading company xforex, owned by XFR financial ltd. According to the BCSC, XFR financial ltd has a cysec license. This license does not cover the trading activities of xforex and xtrade. Both brands are, therefore, not allowed to trade in canada.

ASIC has been forced to intervene in the operations of xtrade. ASIC changed xtrade’s handling of traders’ money. This was after ASIC surveillance showed that the brand’s payment processes were questionable.

The ASIC additionally noted that xtrade had placed buffers into the client’s accounts to limit any unexpected shortfalls, which could breach the legislative protections given to traders via licensing.

Xtrade promises up to $6,000 bonus for first deposits. Scam brokers offer huge bonuses to attract and encourage unfettered trading, high leverage use, and false confidence, leading to enormous losses.

Xtrade scam: the final word

Xtrade is the typical example of a wolf in sheep’s skin. Here’s why:

Xtrade’s parent company XFR financial ltd has a cysec license, which might fool traders into a false sense of security when dealing with the firm.

The brand is associated with xforex, a non-regulated brokerage firm. There is a multitude of user reviews online that point to excessive unethical trading behaviors that clearly shows that xtrade is a scam broker.

ASIC and BCSC have flagged xtrade for its illegal trading practices.

It lures traders into signing up for accounts with promises of big bonuses and support in trading. The broker then takes over the cash, making withdrawals and trade management difficult.

The firm’s “advisors” who are not licensed to offer trading advice will push traders into investing more capital, causing more losses to the traders.

Has xtrade scammed you? Sorry about that. Here’s the good news. Our expert wealth recovery experts can help you get your money back. Schedule a free consultation with us and get started on the road to recovery.

How to choose the right forex brokers

The foreign exchange market, or forex, is not a centralized marketplace and anyone can try their luck with currency trading. However, success or failure in this highly competitive business will depend on the ability, competency, knowledge, and experience of your forex brokers. Choosing the proper one can be very difficult. Today, a great number of people and companies present themselves as experts in this field, and the majority of them have flashy web sites and great "success" stories to relate. They promote themselves in every available place and situation—web sites, online magazines and blogs, billboards, TV commercials, print newspapers, and radio shows. These so-called experts are everywhere.

Although this type of media saturation can be overwhelming, it is understandable that the profitability of the phenomenon of forex trading would attract such interest. There is big money in this game. In fact, the amount of money involved in the forex market is hardly conceivable to most people. According to the latest data, people and companies around the world trade more than $4 trillion in the foreign exchange market every single day. So the next time see an ad for forex brokers, you will know they are just one of many trying to profit by currency trading.

However, the great opportunity for earning (or failure) means you have to do due diligence when choosing a broker to work with. Here is a good rule of thumb: "do not judge a book by its cover." do not evaluate a potential broker by his or her fancy web site or promises. They all claim to be the best. But you are in charge here, and you have to evaluate potential brokers and make a final decision. In the end, your career and your money are at stake.

Tips on choosing the best forex brokers

Fortunately, there are certain rules and tips to consider when choosing your forex brokers.

First of all, we recommend you to check the reputation of your potential "middle man." in almost every country, there are official institutions that issue currency trading certificates and protect users from fraud and manipulation. In the united states, these institutions are the national futures association and the commodity futures trading commission. Please verify the reputation of any potential broker with one of these institutions; it is the least you can do to protect yourself from scammers and from unethical forex brokers who want just to take your money.

Your next consideration should be customer service. Although the majority of forex brokers say they provide 24-hour support, the reality may be that you will spend more on hold than communicating with your financial representative. To avoid the problem, try making a few test calls and make sure the forex brokers you are interested in can provide the service that would be the most fit for your business. You can use these test phone calls or live chats to ask some additional questions, especially about your potential broker's trade volume and previous results.

In summary

Finding a good forex broker can be stressful. But be patient and take some time for searching and testing different options. Do not rush, because this can lead to financial disaster. In the end, if you have the right service at your fingertips, you will be able to spend more time on creating your financial strategy, developing a detailed analysis, and doing what it takes to succeed in the forex market.

Xtrade review 2020: scam forex broker

The forex market is the largest financial market globally, dwarfing the frenetic and famous stock market by the trillions.

Data by the international bank of settlements shows that the daily FX trading volumes were up by $6.6 trillion by april 2019.

The foreign exchange market attracts massive numbers of traders because the barriers of entry to trade are low. Consequently, the industry is synonymous with loss of cash.

Data shows that 96% of all day traders in forex trading lose their hard-earned capital and eventually quit the market.

Sadly, many people also lose money to scammers. Schedule a free consultation with experts if you want to recover any money you lost to a scam forex broker.

Here, we give you reliable data on the xtrade scam. Let’s go.

Xtrade review: what exactly is it?

It operates in other jurisdictions through its international financial service commission in belize (IFSC) license.

Beyond its registration and licensing prowess, the firm has also perfected its branding. In 2016, xtrade partnered with cristiano ronaldo, the portuguese football star.

Yes, xtrade has proper licensing. And yes, cristiano ronaldo promotes it. That can easily make you think xtrade is legit, right? Wrong. Here’s something you should know about scam forex brokers.

Unearthing forex trading scams

Many brokerage firms out there are wolves in sheep’s clothing businesses. These are scammers hiding in plain sight, exposing you to counter-party risk.

A registration license commonly differentiates an untrustworthy trader from one that is not. Regulatory enforcement can protect you and your capital from criminal FX trading activity.

Sadly, there are seemingly legit brokerage firms out there that use their licenses as a guise for misconduct. One of these firms is xtrade.

Why xtrade is a wolf in sheep’s clothing

The firm’s outer façade gives the impression that it is a reliable and popular partner in trade. It does not have hidden fees. Its platform is easy to use and robust.

The truth behind xtrade, however, will become apparent after you have read its user reviews. Here are some of the common complaints:

Unethical behavior such as opening trading positions without the express permission of the account owner

Showing traders artificial accounts with made-up figures and bonuses that you cannot withdraw

Hidden rules that make it impossible for traders to withdraw their cash when they want to

Continuous loss-making trades that often surpass trading capital invested, meaning that advisors discourage traders from using stopgap measures

Problems reaching customer support

Offering financial advice to traders. Their licensing does not cover this. The information often drives newbie traders to make more deposits and incur more losses.

Their proprietary software has a considerable latency in execution, making it impossible to execute speedy trades when volatility is high

The latency in execution often results in orders opening late, causing massive losses for traders

Selective requiting of trades when market prices have changed

Manipulating spread prices on orders to ensure that traders make less profit than usual

Here’s what one reviewer said in forex peace academy:

The awful truth about xtrade

Apart from what reviewers say, here are some more damning facts about xtrade:

The british columbia securities commission (BCSC) issued warnings against xtrade and its sister trading company xforex, owned by XFR financial ltd. According to the BCSC, XFR financial ltd has a cysec license. This license does not cover the trading activities of xforex and xtrade. Both brands are, therefore, not allowed to trade in canada.

ASIC has been forced to intervene in the operations of xtrade. ASIC changed xtrade’s handling of traders’ money. This was after ASIC surveillance showed that the brand’s payment processes were questionable.

The ASIC additionally noted that xtrade had placed buffers into the client’s accounts to limit any unexpected shortfalls, which could breach the legislative protections given to traders via licensing.

Xtrade promises up to $6,000 bonus for first deposits. Scam brokers offer huge bonuses to attract and encourage unfettered trading, high leverage use, and false confidence, leading to enormous losses.

Xtrade scam: the final word

Xtrade is the typical example of a wolf in sheep’s skin. Here’s why:

Xtrade’s parent company XFR financial ltd has a cysec license, which might fool traders into a false sense of security when dealing with the firm.

ASIC and BCSC have flagged xtrade for its illegal trading practices.

It lures traders into signing up for accounts with promises of big bonuses and support in trading. The broker then takes over the cash, making withdrawals and trade management difficult.

The firm’s “advisors” who are not licensed to offer trading advice will push traders into investing more capital, causing more losses to the traders.

Xtrade review 2021

Xtrade was established in 2003. Xtrade is an innovative company, which developed one of the most reliable and unique web-platforms for trading at forex market.

Start year:2003

Country of origin:cyprus/canada

Regulation:AFM (netherlands), 66418, ASIC, 140 899 476, banque de france, 73506, FCA (UK), 247274, FSA (denmark)

Payment options:cashu, credit/debit cards, QIWI, skrill (moneybookers), unionpay, webmoney, wire transfer

Minimum account size:$100

Minimum lot size:0.05 lot

Leverage:up to 1:400

Spreads:4 pips on EUR/USD

Xtrade international ltd (ex. Financial arena ltd), with registered address, no.5 cork street, belize city, belize. C.A., is authorised and regulated by the international financial services commission in belize, with license no. IFSC/60/383/TS/19 and provides financial services under company’s scope of activity. Xtrade international ltd client transactions are being processed by reituca marketing ltd with registration no. HE231803 registered at stasinou & ag.Elenis 2, 1060 nicosia.

Fund security

At xtrade, a client’s funds are segregated and safeguarded by reputable credit institutions. Additionally, xtrade continuously monitors its operations as per its regulatory requirements and submitting of financial reports.

Xtrade encrypts all transactions with the state-of-the-art 256-bit SSL bank standard secure socket layer. Other security measures include a true-site identity assurance seal, AICPA webtrust compliance, and regular testing of the company website’s identity theft and credit card safeguards.

Service and support

Xtrade provides quality and efficient customer care. Our representatives communicate by email and phone. Please view our full list of international phone numbers and emails.

Xtrade forex review

The forex online market has been entertaining us for more than a decade now. Traders enjoy all the new inventions and technological advances that have shaped the market and made it accessible to every individual on the planet. The market is defined by two groups of brokers; those who see the forex market a serious industry and act in the best interest of their clients, and those looking for an easy opportunity to empty the pockets of honest traders by luring them into business with lucrative offers which usually don’t pan out.
Therefore, the choice of the right broker is one of the most essential decision traders have to make if they want to have a real chance in the more than turbulent forex market. Xtrade is one of the brokers who has already proved that it stands for honesty and reliability. This xtrade review is supposed to give hope to all those traders who have lost hope of finding the right broker. Xtrade takes care of its traders and makes sure their funds are safe at all times. Besides security, the broker offers an all-around service package which meets the needs of every trader group. Let us see what the broker has to offer.

The history of xtrade

Xtrade is a cypriot company which was established far back in 2003. It is regulated by the cyprus securities and exchange commission (cysec) which imposes very strict rules on the subjects of their regulation. Broker companies are, for example, required to keep the clients’ funds separate from their company’s operational funds, as well as submit records on the capital at disposal and individual transactions. A new law also requires brokers to insure their clients on additional 20,000 euros in case of insolvency.
In this way, cysec keeps the market transparent and fair which fosters the trust of forex traders in the industry which is one of the riskiest markets in the world. Xtrade is a broker that provides you the ideal trading environment, yet the trading risk is part of the game, and no broker can guarantee you risk-free trading.

Trade on the unique xtrade platform

The xtrade pro platform is an in-house designed platform of this broker who opted for an independent platform to offer a more customized approach to its traders. This broker has decade-long experience and knows the industry in and out, so their platform was built by true professionals who know what traders need.
The platform is as good as the award-winning MT4 offering all the sophisticated auto-trading options as well as basic stop loss and take profit options. The platform is user-friendly, and the options and features can be mastered very quickly.
Traders enjoy many one-click options, fast executions, and analytical tools which enhance their trading experience. A trading platform is the most important trading tool of traders, and it has to meet their needs since they are the ones who operate the platform every day. The platform becomes something very personal, just like a PC or mobile phone. Speaking of mobile phones, the xtrade mobile app is also available for android, windows, and ios devices.

Choose an xtrade account that fits

To match the different levels of traders’ experiences and their different budgets, brokers usually provide different types of accounts with different options.
Xtrade offers a standard account with a minimum deposit requirement of $100. The account comes with tight spreads, 150+ tradable assets including cfds, currencies, indices, and commodities. With a low minimum deposit, this account is very popular, especially with those who are just starting out.
Xtrade premium account is suitable for the more experienced and professionals who want to enjoy even tighter spreads, personal account management, etc. The minimum deposit for this account is $1000. This is also not much, since it is known that premium accounts at other brokers’ easily exceed $10,000.
We see that xtrade is not only safe, experienced, and professional, but also affordable to the wide masses. This broker is the living proof that the forex broker industry is not reserved for the wealthy elite.

Xtrade specials

When it comes to creative promotions, the broker also offers a prepaid xtrade card enabling immediate withdrawals at any ATM in the world. You can also win crazy trips, like a meeting with ronaldo in madrid. The broker is full of crazy and innovative ideas that can cheer up their customers from time to time.

Deposits and withdrawals

The xtrade broker offers a wide range of banking options for their traders around the world. Besides wire transfer and credit cards, the broker accepts a variety of local payment methods and a series of e-wallets (neteller, unionpay, etc.). The broker does not charge any fees for deposits or withdrawals, and withdrawals are handled within one work day.

What to expect from the customer support

As in every aspect of its business, xtrade also provides a professional customer support which is at the disposal of customers six days a week, 24 hours a day. The multilingual support staff is going to kindly help you solve any problem you might come across. You can reach them via e-mail, live chat or free phone line.

So, let's see, what we have: is xtrade a good forex broker? Read real reviews, by traders, for traders? Add your rating to the largest forex review database by forex peace army? >> at xtrade forex