XTrade Review

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XTrade is a modern CFD broker with an innovative approach to trading and features a wide variety of attractive bonuses for new traders. With over 1 500 trading instruments and an intuitive trading platform, it opens up entirely new possibilities to traders of every experience level.

Trading platforms

XTrade comes with its own trading platform that can run on web browsers or on smart phone. Among the platform’s advantages are its impressively simple interface layout and easy to understand functions, which can be mastered by a beginner in minutes.

The trading application allows you to simultaneously open up to 6 charts with different instruments, time frames, technical indicators and more. The ability to open several charts simultaneously is crucial for effective technical analysis, and XTrade is one of the few brokers that can offer this ability on an online trading platform.

Getting oriented in more than 1 500 trading instruments is surprisingly easy. This is helped by the fact that the trading instruments are divided logically into groups such as stocks, commodities, indices, or forex, and the intelligent searching function can find the requested instrument with only a few key letters from the desired instrument.

Trading

XTrade offers trading with financial derivatives of the CFD type (Contract for Difference), through which it is possible to trade global and European stocks, commodities, precious metals, foreign currencies, as well as the popular virtual currency Bitcoin. The broker constantly evaluates the demand from clients and adds new instruments to the already wide selection based on this ever-changing demand.

The trading in XTrade is very secure and the execution of orders is quite smooth. Trading commands can be opened with advanced settings such as Trailing Stop, and price notifications are another very helpful feature.

The platform is not suitable for scalpers and high-frequency traders mainly because of the relatively high spread of 5 pips to EUR/USD. However, the spread for stocks and commodities are decent and trading with them is several times cheaper at XTrade than with typical stock brokers.

Mobile Applications

The broker focused a large amount of effort into developing top trading platforms for mobile phones. Whether you carry an Android, iOS, or a Windows device in your pocket, the XTrade application will run swiftly and efficiently on any operating system.

Bonuses

One of the strengths of the broker is the fact that it offers a bonus without requiring a deposit. A new trader simply has to verify his phone number via a text message to instantly gain a $20 bonus in his live trading account. The bonus acts as actual money, as does any earnings gained from using it.

Deposit bonuses, which XTrade offers up to the amount of 60%, are among the best currently found in the industry. All bonuses can be withdrawn after the conditions of the contract are fulfilled, and the maximum bonus amount is 6000 USD for a 10 000 USD deposit. The complete list of offered bonuses is presented here: https://www.xtrade.eu/promotions/ftd

Trading Central and AutoChartist

Traders who open an account with XTrade gain free access to the excellent analytical services Trading Central and AutoChartist.

Trading Central and AutoChartist automatically search trade formations and look up recommendations on whether a specific instrument should be purchased or sold. AutoChartist also offers a large database of historical formations and their level of success. The success rate of the software has reached up to 80% with many of these formations.

Both Trading Central and AutoChartist cost hundreds of dollars on their own, but clients of XTrade get access to them for free.

Accounts

XTrade offers only one type of account. This means that clients are not divided into groups based on solvency, type of trading, etc. Everyone is treated the same way and even the smallest client gets the same space as a supposed VIP millionaire.

Deposits and Withdrawals

The broker offers all the usual payment methods for making a deposit, mainly with a debit or credit card from VISA, MasterCard or Dinners Club. Deposits can also be made via internet wallets such as Neteller, Skrill or WebMoney and of course a wire transfer. Along with the aforementioned methods, it is also possible to make deposits with PaySafe prepaid coupons and the PayU service. With the exception of wire transfers, all the methods are online and the money appears immediately on the client’s account.

Withdrawals are processed within 24 hours. When the client receives the money depends on the chosen withdrawal method. With online payment methods, the money is placed in the account immediately after the withdrawal is approved; with a wire transfer, it is usually within 3 to 4 business days.

Education

For beginning and advanced traders, XTrade has prepared an extensive 80-page ebook which explains how financial markets work from the very first steps to more advanced topics.

A more entertaining form of education is offered by educational videos, or a trained expert from XTrade who can advise each client one on one.

Security

Due to regulations within the European Union, the broker is a part of the client compensation scheme in case of bankruptcy. Therefore, the deposits of every XTrade client are insured up to 20 000 Euro.

Besides legally required deposit insurance, the client’s money is also held in separate accounts at large European banks including Barclays, Santander, and BNP Paribas.

Summary

XTrade is a modern broker of today’s times, tracking all trends as required by current forex and CFD clients. This efficient and clearly organized trading platform contains over a thousand instruments, yet is secure and easy to use.

Thanks to its fast and simple $20 no deposit bonus, people have the opportunity to try out the broker using real money without any of its risks. It’s an amazing chance to test the waters trading with XTrade.

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