Xtrade Information

Xtrade is an experienced online broker specializing in helping investors build diversified investment portfolios. Through Xtrade, investors can access multiple markets including CFDs, Indices, Commodities, Shares, Forex, ETFs, Bonds, and moreon the Xtradetrading platform. Xtrade also provides demo accounts and 4 live accounts with leverage starting from 1:400 on Forex, and this broker says it offers 24/7 customer support. However, Xtrade still has risks due to some comments about its high trading spread.

Pros and Cons

Is Xtrade Legit?

It is relatively safe for investors to conduct financial activities in regulated entities. The regulatory information of this broker is as follows:

Regulated Country	Regulated Authority	Regulated Entity	License Type	License Number	Current Status
	FSC	Xtrade International Ltd.	Common Financial Service License	IFSC/60/383/TS/15	Exceeded
	ASIC	Xtrade International Ltd	Market Making(MM)	343628	Revoked
	CYSEC	Merba Limited	Market Making(MM)	108/10	Suspicious Clone

What Can I Trade on Xtrade?

Traders can choose different investment directions because the broker provides traders with access toForex, CFDs, Indices, Commodities, Shares, ETFs, Bonds, and more.

Account Type

Xtrade offers four account types. Traders who own more deposits can choose a VIP account, while those with a small budget can open a Standard account. If you are in between, you can choose the Premium account or the Platinum account. In addition, the demo account is predominantly used to familiarize traders with the trading platform and for educational purposes only.

Xtrade Fees

The spread is from 2 pips. The spread is more than 1pips, which is relatively high and the liquidity is relatively poor.

Leverage

The maximum leverage is 1:400 meaning that profits and losses are magnified as well as gains.

Trading Platform

Xtrade provides a Proprietary platform available for web, mobile, and print versions. Traders can choose the method that suits them to access and conduct trading-related activities.

Deposit and Withdrawal

The minimum amount to deposit is 250 USD. Xtrade accepts credit/debit cards, bank transfers, American Express, and more options for deposits and withdrawals.

Withdrawal requests take up to five business days to process. Third-party withdrawal payment methods (i.e. credit card company, wire transfer bank, or intermediary bank delays) In extreme cases, delays of 3 weeks

Bonus

Xtrade offers a first deposit bonus of up to $5000, a 100% bonus.

LINE FX Information

Registered in Japan, LINE FX is a securities company that has access to 23 currency pairs without commission. EUR/USD core time (fixed in principle) 9:00 am – 5:00 am the next day is 0.3 pips, other times are 0.4-9.0 pips. The lower the spread, the better the liquidity.

The transaction fee is 0 yen. However, there is a difference (spread) between the bid and ask prices of the currencies LINE FX offers. When placing an order, a margin of 4% or more (leverage 25 times) is required for each currency pair.

Is LINE FX Legit?

The Financial Services Agency(FSA) regulates LINE FX with license number 関東財務局長(金商)第3144号 and License Type Retail Forex License, making it safer than unregulated.

Trading Tools

Trading tools for beginners and experts, TradingView has charting capabilities, LINE FX is available for smartphones, and LINE FX Pro is suitable for PC

Deposit and Withdrawal

LINE FX accepts bank transfers and QuickCash for payment and bank transfers for withdrawals. Bank transfer payments require a commission. Except for QuickCash payments that specify financial institutions, other payments apply to all banks and the processing time is generally within 24 hours.