Xtrade: A Complete Brokerage Firm Review
Xtrade, a Foreign Exchange and CFD broker located in Cyprus, was introduced by XTrade Group Limited. After its successful market debut in 2003, it underwent expansion and now operates with several subsidiaries including XTrade Europe Ltd and XTrade International Ltd. To date, it has a total of 15 leg offices across the world, and the majority of which are regulated by financial agencies from Cyprus, the Philippines, Malaysia, and the United Arab Emirates. With much of its services available internationally, those who reside in the United Kingdom, Canada, and other specified countries are prohibited from registering to Xtrade.
Xtrade License and Regulation
Since XTrade is an international financial service provider, it was granted operating licenses by multi-jurisdictional regulatory bodies. Its main headquarter in Cyprus is well regulated by the country’s Securities and Exchange Commission. Add to this are other financial authorities that create a tight fiber of security for all of its clients.
XTrade International Ltd is highly compliant with the International Financial Services Commission. With this, XTrade follows the segregated account structure. This means the company and its clients’ funds are put in two different accounts to avoid total financial wipeout should the company face bankruptcy. As stipulated by the agency’s MiFID policy, members of the organization must also cover its clients with a maximum of 20,000 euros for every proven financial discrepancy. This guideline is more commonly known as the Investor Compensation Fund.
XTrade Asset Classes and Platforms
Subscription to XTrade may come favorable for clients looking for a wide selection of markets. The broker grants access to more than 200 Foreign Exchange and Contract for Differences, with 56 forex pairs, commodities, stock indices, and shares at its disposal.
The abovementioned selection may be traded using the company’s proprietary platform. As this is purely web-based, it does not require any installation process. To say, this is heavily lauded within the industry as its design appeals to its users. The interface, for one, is rooted in ease of use and is highly intuitive. Trading is then reinforced by multiple trading tools including 12 technical indicators, 4 charting format, 9 timeframes, and 17 analytical tools- all available in 11 languages. Lastly, an economic calendar, real-time news update, and signal services provide additional substantial insights for traders.
Note that Xtrade also offers its own mobile platform. Clients would not have any trouble downloading it since it is made available in both iOS and Android. The XTrade Online Trading, as how it is called, is equipped with a highly-customizable interface. This lets users manage trades and buttons according to their preferences. More so, it enables one-touch trading that comes with live prices, charting choices, analysis tools, notifications, and account funding options. What is more commendable about it is the availability of AutoChartist, giving clients additional tools to expand their margin of profitability.
XTrade Education and Research Materials
Apart from its critically-acclaimed platform, XTrade is also lauded for its unique educational functions. Its official website has a separate section for learning, with an economic calendar and live news updates providing authoritative contents for decision-making.
Other components of this aspect are the video analysis of markets all uploaded on Xtrade.com and on its Youtube channel. More so, clients are provided with indicators including the most popular such as the Pivot, Fibonacci, and deal size calculations. All of these are guaranteed to carry a holistic learning approach, tackling the fundamentals of trading up to technical know-hows.
Customer Support
What’s more impressive about XTrade is it provides a highly responsive team for assistance. Available 24/7, XTrade can be reached through a wide selection of communication channels such as telephone, email, and multiple social media. It also has a live chat feature for clients in need of immediate resolution. Its overall customer support is highly client-centered since it is made available in 35 languages.
Conclusion
With several industry awards backing its reputation, XTrade stands as one of the reliable brokers in the financial industry. Moreover, its global regulatory oversight, large selection of assets, and highly-responsive customer support attest to its ever-reliable service. While it has minimal setbacks including the absence of the MetaTrader platforms, clients will still find it a decent platform for its generous and competitive trading conditions.
