NewsThe Election Results Deepen the Depreciation of the Turkish Lira
The Turkish lira slumped to yet another all-time low Tuesday, extending its slide after the re-election of incumbent President Recep Tayyip Erdogan.
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Xtrade International Limited
Pyramid scheme complaint
|Founded Year||1-2 years ago|
|Company Name||Xtrade International Limited|
|Maximum Leverage||Up to 400:1|
|Spreads||Varies by instrument, e.g., EURUSD spread is 5 pips|
|Trading Platforms||WebTrader, Mobile Trading App, Tablet Trading App|
|Tradable Assets||Indices, Commodities, Shares, Forex, ETFs, Bonds|
|Account Types||Standard, Premium, Platinum, VIP|
|Islamic Account||Not specified|
|Customer Support||Phone, email, social media presence|
|Payment Methods||Credit/debit cards, bank transfer, and various others|
|Educational Tools||Video tutorials, courses, glossary, blog, trading education|
Xtrade International Limited, based in Belize, is a trading platform that offers a variety of financial instruments to traders. However, it is important to note that Xtrade operates without valid regulation, which raises concerns about its credibility and reliability. Traders should exercise caution when considering engaging with this broker.
Xtrade provides contracts for difference (CFDs) on a wide range of markets, including stock market indices, commodities, shares, forex, ETFs, and government bonds. These CFDs allow traders to speculate on the price movements of these assets without owning them.
The platform offers different types of trading accounts, such as Standard, Premium, Platinum, and VIP accounts, each with its own minimum deposit requirement. The account types offer fixed spreads on trading instruments, with narrower spreads available for higher-tier accounts. Traders can access Xtrade's trading platforms, including WebTrader, a browser-based platform, as well as mobile and tablet trading apps.
While Xtrade provides various educational resources, such as video tutorials, courses, and a blog, and offers customer support services, traders should carefully consider the lack of regulation before engaging with this broker.
Xtrade offers a wide range of market instruments (indices, commodities, shares, forex, ETFs, bonds) and multiple account types. Leverage options up to 400:1 are available, and the platform provides user-friendly trading platforms (WebTrader, Mobile App, Tablet App) and educational resources. Customer support is accessible. However, the lack of valid regulation raises concerns about credibility. Fees include an inactivity fee and dormant account maintenance fee, and information on spreads is limited. The minimum deposit requirement is $250, and specific payment methods may lack clear details.
|Wide range of market instruments (indices, commodities, shares, forex, ETFs, bonds)||Lack of valid regulation, raising concerns about credibility and reliability|
|Multiple account types with varying deposit requirements and benefits (Standard, Premium, Platinum, VIP)||Inactivity fee and dormant account maintenance fee|
|Leverage options up to 400:1||Limited information on spreads|
|User-friendly trading platforms (WebTrader, Mobile App, Tablet App)||Minimum deposit requirement of $250|
|Educational resources including video tutorials, courses, glossary, and blog||Unclear information on specific payment methods|
|Accessible customer support services via phone, email, and social media|
Xtrade operates without any valid regulation, which raises significant concerns about its credibility and reliability. Traders should exercise extreme caution when considering engaging with this broker due to the lack of oversight and the potential risks involved.
1. Indices: Xtrade offers contracts for difference (CFDs) on various stock market indices from around the world. Examples include the indices of America, Europe, Asia, Australia, Spain, UK, Italy, Japan, Russia, South Africa, Germany, and Denmark. These CFDs allow traders to speculate on the performance of the broader stock market without owning the underlying assets.
2. Commodities: Xtrade provides CFDs on a wide range of commodities, allowing traders to participate in the price movements of these assets. Examples of commodities offered include gasoline, Brent oil, platinum, rapeseed, cocoa, oil, soybean, natural gas, heating oil, cotton, copper, wheat, gold/USD, silver, coffee, sugar, palladium, and gold/EUR. Traders can take advantage of the volatility in commodity markets without the need to physically own the assets.
3. Shares: Xtrade offers CFDs on shares of various companies from different sectors. Examples include cannabis-related shares like Cronos Group Inc, Tilray, Aurora Cannabis, and Constellation Brands. Other shares available for trading include Danske Bank, Tryg, Vestas Wind Systems, ISS, and Ambu. Traders can speculate on the price movements of these shares without owning the actual stocks.
4. Forex: Xtrade provides CFDs on major, minor, and exotic currency pairs in the forex market. Traders can participate in the foreign exchange market and trade pairs like EUR/USD, GBP/USD, USD/JPY, AUD/USD, and many more. Additionally, Xtrade offers CFDs on cryptocurrencies such as Bitcoin, Ethereum, Polkadot, Ripple, Cardano, Litecoin, and numerous others.
5. ETFs: Xtrade offers CFDs on exchange-traded funds (ETFs) that track various indices and commodities. Examples include ETFs Indices like Direxion Daily Gold Miners, Bitwise Crypto Industry Innovators, Vanguard Value Index, ProShares UltraPro, Ultra VIX Short-Term Futures, MSCI Brazil, Direxion Small Cap Bear, UltraPro Short QQQ, UltraShort S&P500, KraneShares Global Carbon, and ProShares Bitcoin Strategy.
6. Bonds: Xtrade also provides CFDs on government bonds. Examples include US 5Y T-Note, 10Y Euro Bund, Gilt Long Government, US 10Y T-Note, and US 30Y T-Note. Traders can speculate on the price movements and yields of these bonds without owning them directly.
|Diverse range of market instruments (indices, commodities, shares, forex, ETFs, bonds)||No specific numbers or financial information provided|
|Opportunity to speculate on global stock market performance|
|Access to various sectors and companies through CFDs on shares|
Standard Account: The Standard Account offered by Xtrade requires a minimum deposit of $200. This account type does not charge any commission fees for deposits and offers fixed spreads on various trading instruments. The EURUSD spread is 5 pips, GBPUSD spread is 5 pips, Germany 30 spread is 500 points, and so on. Users of the Standard Account have access to a range of resources and educational materials, courses, e-books, video tutorials, webinars, daily reports, and an economic calendar. They can also make use of the demo account for practice.
Premium Account: Xtrade's Premium Account is designed for traders who can meet the higher minimum deposit requirement of $1,000. Similar to the Standard Account, this account type offers commission-free deposits and fixed spreads. However, the spreads are generally narrower compared to the Standard Account. For instance, the EURUSD spread is 3 pips, GBPUSD spread is 4 pips, Germany 30 spread is 350 points, and so on. Premium Account holders enjoy the same range of educational resources as the Standard Account, including personalized training, courses, e-books, video tutorials, webinars, daily reports, and an economic calendar. The demo account is also available for practice purposes.
Platinum Account: Xtrade's Platinum Account is targeted at traders with a higher level of experience and a minimum deposit of $5,000. This account type offers commission-free deposits and further reduces the spreads on trading instruments compared to the Standard and Premium Accounts. The EURUSD spread is 3 pips, GBPUSD spread is 3 pips, Germany 30 spread is 300 points, and so on. Platinum Account holders have access to personalized training, courses, e-books, video tutorials, webinars, daily reports, and an economic calendar. The demo account is also available for practice.
VIP Account: The VIP Account provided by Xtrade is tailored for experienced and high-volume traders who can fulfill the minimum deposit requirement of $25,000. Similar to the Platinum Account, the VIP Account offers commission-free deposits and low spreads. The EURUSD spread is 2 pips, GBPUSD spread is 3 pips, Germany 30 spread is 280 points, and so on. VIP Account holders receive personalized training, courses, e-books, video tutorials, webinars, daily reports, and an economic calendar. They also have access to the demo account for practice purposes.
In addition to the mentioned account types, Xtrade also offers a demo account that allows users to practice trading without risking real money.
|Standard Account: Low minimum deposit requirement ($200)||Lack of information on specific fees|
|Premium Account: Narrower spreads compared to the Standard Account||Minimum deposit requirement may be high for some traders|
|Platinum Account: Further reduced spreads and personalized training||Limited details on additional benefits for Platinum Account|
|VIP Account: Lower spreads and personalized training||High minimum deposit requirement ($25,000)|
|Demo Account: Allows users to practice trading without risking real money||Lack of specific information on demo account features and limitations|
To open an account with Xtrade, follow these steps:
Visit the Xtrade website and click on the “START TRADING” button.
Select the option to open a demo account or a real account.
Provide your full name in the designated field.
Enter your email address.
Input your phone number.
Read and agree to the Terms and Conditions.
Click the “SUBMIT” button to proceed with the account opening process.
Xtrade offers leverage options that allow traders to open larger positions with a smaller margin deposit. The leverage available can vary, with a maximum magnification of up to 400:1.
Xtrade offers spreads on various financial instruments. The spread represents the difference between the bid and ask prices. Specific spread values for each product can be found in Xtrade's CFDs list. There are no deposit or withdrawal fees charged to clients. However, holding positions overnight may subject traders to Xtrade funding premiums, which are deducted from their accounts. Trade settlement occurs two business days after the trading day. Xtrade also implements an inactivity fee of up to $50 USD per month for accounts that remain inactive for 3 months. A dormant account maintenance fee of up to $100 USD per month is charged for accounts inactive for one year or more.
The minimum deposit required to open an account with Xtrade is $250, which applies to all account types.
Xtrade offers banking options through trusted e-commerce associates and leading financial institutions worldwide. This allows clients to access popular online payment methods. The platform employs a 256-bit SSL Bank Standard encryption, True-Site identity assurance seal, and AICPA WebTrust compliance. Regular testing is conducted to protect against identity theft and credit card fraud. Deposits can be made using credit/debit cards or bank transfer. Credit/debit card deposits require users to access the trading lobby screen, enter the deposit amount, complete the form details, and receive a confirmation. Bank transfer deposits involve selecting “Bank Transfer,” following the on-screen instructions, and confirming the transfer, which may take up to 5 business days.
The platform utilizes encryption technologies to safeguard transactions and financial information. To initiate a withdrawal, users need to log into their Xtrade account, click “Withdraw,” enter the desired withdrawal amount, and submit the request. Withdrawals take up to five business days to process, with potential delays due to third-party withdrawal payment methods. The withdrawal amount is transferred back to the same method used for the deposit, such as a credit card or bank account. Xtrade does not charge fees for withdrawal processing, but banks and intermediaries may apply their own fees. Users can contact the Client Support team for assistance with payments and other inquiries.
|Deposits can be made using popular online payment methods||Withdrawals may take up to five business days to process|
|Encryption technologies employed to safeguard transactions||Potential delays due to third-party withdrawal methods|
|No fees charged by Xtrade for withdrawal processing||Banks and intermediaries may apply their own fees|
Xtrade's WebTrader is a browser-based platform that provides traders with a comprehensive range of features and tools for an optimized trading experience. This platform allows users to access the best market analyses available and execute trades and orders quickly. One notable advantage of WebTrader is that there is no need to download any software or applications.
Mobile Trading App:
Xtrade's Mobile Trading App is a user-friendly and intuitive multi-asset trading application. It offers a full range of features and functionality, including real-time charting with leading technical indicators and extensive trading tools. Traders can enjoy alerts and notifications, along with friendly one-click navigation and professional charting tools. The app provides a way for users to trade on the go and access their accounts anytime, anywhere.
Tablet Trading App:
Xtrade's Tablet Trading App offers an ultimate portable trading platform experience on tablets. The app boasts an advanced graphical interface that enhances the trading experience. It enables quick transactions and deposits, provides a full activity report, and offers intuitive navigation and alerts setting. The user-friendly platform delivers all the leading functionality required to meet traders' needs.
|WebTrader provides comprehensive features and tools for optimized trading||No popular trading platforms available|
|Mobile Trading App offers user-friendly and intuitive trading experience|
|Tablet Trading App delivers a portable platform experience with advanced features|
1. Economic Calendar:
Xtrade offers an economic calendar as one of its trading tools. This calendar provides information on upcoming economic events, such as central bank meetings, economic indicators, and major announcements. Traders can use this tool to stay informed about important events that may impact the financial markets.
2. Financial News:
Xtrade provides financial news updates to its users. These news updates cover a wide range of topics, including market trends, economic developments, and specific asset classes. By keeping up with the latest financial news, traders can make more informed decisions and stay updated on market conditions.
3. Daily Analysis Video:
Xtrade offers daily analysis videos, focusing on different financial instruments and markets. These videos provide insights into market trends, technical analysis, and trading strategies. Traders can benefit from these videos by gaining valuable information and perspectives to support their trading decisions.
Xtrade offers various calculators to assist traders in their trading activities. These calculators include a Pivot Calculator, Fibonacci Calculator, and Deal Size Calculator. These tools help traders analyze price levels, identify potential support and resistance levels, and calculate position sizes based on risk management strategies.
Xtrade offers a wide range of payment methods for deposits and withdrawals, with maximum transaction limits specified for each method. The available payment options include Visa/Mastercard (up to 15,000 USD), UnionPay (up to 15,000 USD), bank transfers (unlimited), and various other methods such as Hipercard, JCB, ELO, and more, with specific maximum transaction limits. When making a withdrawal, the method used for the deposit will be used to process the withdrawal. For example, if a deposit was made with a credit card, the withdrawal amount will be returned to that credit card, while deposits made via bank transfer will be transferred back to the user's bank account. Users can refer to the provided list of payment methods for more details and view the available methods based on their country and currency selection.
1. Video Tutorials/Courses:
Xtrade offers a range of video tutorials and courses to enhance traders' knowledge and skills. The FOREX V.O.D. provides high-quality videos for a comprehensive introduction to Forex trading. The TRADING STRATEGIES course teaches new strategies to maximize profit, including identification, timing, recommended pairs, indicators, entry and exit points, and examples. The CFDS AND STOCKS course explains the advantages and disadvantages of trading CFDs, Stocks, and Indices. The ECONOMICS course explores the global economy's impact on capital markets. The ECN course introduces traders to ECN and its benefits. The SOCIAL TRADING course provides an introduction to Social Trading and its workings. Lastly, the METATRADER TUTORIALS course teaches traders about the MetaTrader Platform and its usage.
Xtrade offers a glossary of trading terms and definitions to improve traders' market knowledge.
Xtrade's blog features informative articles by X-blogger. The blog covers various topics, such as speculative choices for profitable short-term trading, the impact of election results on the depreciation of the Turkish Lira, and analyzing the current trend of the US Dollar. Additionally, the blog provides Forex updates to keep traders informed.
4. Trading Education:
Xtrade offers extensive trading education resources. Traders can learn about Forex trading, CFD trading, Forex market basics, online CFDs, trading strategies, forex brokers, and more. The education section covers topics such as forex trading introduction, forex currency trading, investing in foreign currency, CFD trading platforms, online trading for beginners, forex news, and forex signals. The goal is to provide traders with a solid foundation and understanding of trading principles and techniques.
Xtrade provides customer support services to assist traders with their inquiries and needs. The customer service is available from Sunday 22:00 to Friday 22:00 (GMT) and can be reached worldwide at +44 203 8074001. For specific inquiries, there are email addresses, such as email@example.com for general inquiries, firstname.lastname@example.org for support-related matters, email@example.com for financial and billing concerns, firstname.lastname@example.org for marketing inquiries, email@example.com for affiliate-related matters, and firstname.lastname@example.org for compliance-related issues. Xtrade also offers a wide range of contact numbers for different regions, including Brazil, the Philippines, Colombia, Mexico, the United Arab Emirates, Singapore, Chile, Saudi Arabia, Kuwait, Taiwan, Malaysia, and South Africa. Additionally, Xtrade maintains a presence on social media platforms such as Twitter, Facebook, Instagram, YouTube, and LinkedIn.
In conclusion, Xtrade operates without valid regulation, which raises concerns about its credibility and reliability. Traders should exercise extreme caution due to the lack of oversight and potential risks involved. Xtrade offers a variety of market instruments, including indices, commodities, shares, forex, ETFs, and bonds, allowing traders to speculate on various assets without owning them. The account types offered are Standard, Premium, Platinum, and VIP, each with its own minimum deposit requirement and benefits. Xtrade provides leverage options, low spreads, and a wide range of payment methods for deposits and withdrawals. The trading platforms include WebTrader, a browser-based platform, and mobile and tablet trading apps for trading on the go. Xtrade offers trading tools such as an economic calendar, financial news updates, daily analysis videos, and calculators to assist traders. Educational resources include video tutorials/courses, a glossary, a blog, and extensive trading education materials. Customer support services are available through various channels, including phone, email, and social media.
Q: Is Xtrade a regulated company？
A: Xtrade operates without any valid regulation.
Q: What financial instruments does Xtrade offer？
A: Xtrade offers CFDs on indices, commodities, shares, forex, ETFs, and bonds.
Q: What are the different account types offered by Xtrade？
A: Xtrade offers Standard, Premium, Platinum, and VIP accounts.
Q: How can I open an account with Xtrade？
A: To open an account, visit the Xtrade website and follow the account opening process.
Q: What leverage options does Xtrade provide？
A: Xtrade offers leverage up to 400:1.
Q: What are the deposit and withdrawal methods available？
A: Xtrade accepts credit/debit cards and bank transfers for deposits and withdrawals.
Q: What trading platforms does Xtrade offer？
A: Xtrade provides WebTrader, Mobile Trading App, and Tablet Trading App.
Q: What trading tools are available on Xtrade？
A: Xtrade offers an economic calendar, financial news, daily analysis videos, and various calculators.
Q: What are the educational resources provided by Xtrade？
A: Xtrade offers video tutorials, courses, a glossary, a blog, and extensive trading education materials.
Q: How can I contact Xtrade's customer support？
A: Xtrade's customer support can be reached via phone, email, and social media platforms.
The Turkish lira slumped to yet another all-time low Tuesday, extending its slide after the re-election of incumbent President Recep Tayyip Erdogan.
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