General Information & Regulation
Established in 2015, Xtrade is a multi-asset broker which has its headquarters in Belize, as well as a second office in South Africa. The company behind Xtrade is Xtrade international Ltd, not subject to any regulation.
Xtrade offers traders 56 currency pairs, 16 commodities, five bonds, and five ETFs. The bulk of assets consist of 280 equity CFDs, complemented by 13 index CFDs. The overall selection of 375 assets across six categories remains below average.
Xtrade does not provide any information about its account type. It appears that the same option is available to all traders, from a minimum deposit of $250.
When it comes to trading leverage, the maximum trading leverage offered by Xtrade is up to 1:400. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.
Spreads & Commissions
The commission-free trading environment features unacceptably high fixed spreads of up to 5.0 pips on the EUR/USD. It equals a cost of $50 per 1.0 standard lot, making Xtrade one of the most expensive brokers in operation.
Xtrade levies an excessive $50 monthly inactivity fee after three months and a $100 monthly dormant account maintenance fee after twelve months.
Trading Platform Available
The proprietary trading platform, Xtrade WebTrader, is the only one offered by Xtrade. It is also available as a mobile version.
Deposit & Withdrawal
The logos of a series of online payment processors exist on the website, but no further information is available.
Xtrade provides 24/5 customer service via phone, e-mail, and live chat. The FAQ section attempts to answer basic questions, and a glossary is also available. It also features a dedicated complaint resolution process, aiming to deliver exceptional customer service. While Xtrade does not provide response times, it does indicate an effort to assist its traders.
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