What is XTrend？
XTrend is a regulated trading platform based in Cyprus. It operates under the oversight of the Cyprus Securities and Exchange Commission (CYSEC). XTrend offers a diverse range of trading instruments across various markets, including Forex, Precious Metals, Cryptocurrencies, Energy, Indices, and Shares. It supports trading via mobile platforms, with a minimum deposit of $50 to open an account. Notably, its default leverage is 1:30, but it can provide generous leverage up to 1:500. Additionally, XTrend is committed to educating its users, providing resources such as a comprehensive glossary of trading terms.
Pros & Cons
Pros:
Regulated by CYSEC: Currently, XTrend is overseen by the Cyprus Securities and Exchange Commission (CYSEC), operating under a Market Making (MM) License, which means that it operates under strict legal parameters set by this financial regulatory body, ensuring a secure trading environment for its users.
Multiple Market Instruments: The platform offers diverse Market Instruments, including Forex, Precious Metals, Cryptocurrencies, Energy, Indices, Shares, catering to various trading needs and experience levels.
Multiple Customer Support Channels: XTrend provides various customer support channels including phone, email, and contact form (24/7 support), enhancing accessibility and assistance for clients.
Cons:
Is XTrend Safe or Scam？
XTrend is a financial trading platform that operates under the regulatory oversight of CYSEC, the Cyprus Securities and Exchange Commission. This regulatory authority is known for its stringent standards and rigorous monitoring of financial services providers, ensuring that they adhere to strict rules and guidelines to protect the interests of investors and maintain market integrity. By being regulated by CYSEC, XTrend demonstrates its commitment to providing a secure and transparent trading environment for its users. Traders can have confidence in the platform's compliance with industry standards and regulations, enhancing their trust and peace of mind when engaging in financial transactions and investments through XTrend.
User feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security measures: XTrend serves clients in multiple jurisdictions while maintaining the same regulatory standards in each region.
Market Instruments
XTrend boasts a comprehensive range of trading instruments spanning various asset classes. These include Forex or foreign exchange trading, which deals with the global currency market. They also provide Contracts for Difference (CFDs) on Precious Metals like gold and silver, allowing traders to speculate on their price movements without owning the actual metal. Moreover, they offer CFDs on Cryptocurrencies, providing an opportunity to trade on popular digital currencies like Bitcoin and Ethereum.
Energy trading is also available, which primarily involves commodities like oil and natural gas.
In addition, traders can invest in Indices, giving them exposure to specific sections of the stock market, and Shares, which represents ownership in a company. This diverse range of offerings caters to a wide array of trading preferences and styles.
How to Open an Account？
Open your web browser and type in the URL for the XTrend homepage.
Look towards the left side of the homepage. Specifically, seek out the “Open a Live Account” button and click on it.
Follow the on-screen instructions to input your personal and contact details.
Set a secure password for your account.
Read and agree to the Terms and Conditions and any other policy as required.
Click on the ''Register'' option to finalize the creation of your account.
An email will typically be sent to your registered email address to verify your account. Ensure to check your inbox and spam folders.
Click on the link received in the verification email to activate your account.
Leverage
XTrend's default leverage stands at 1:30, providing a certain degree of flexibility in trading. However, the broker also offers the opportunity to avail of considerable leverage up to 1:500. This generous leverage can accommodate even the most aggressive of trading strategies.
Spreads & Commissions
Trading costs on all instruments at XTrend need to be calculated into spreads and commissions. For example, there is a table of the spreads and commissions for the major currency pairs.
Spreads: The spreads range from 0.00001 to 0.12. The lowest spreads are EURUSD (0.00001) and EURCHF (0.00001). The highest spread is for CHFJPY (0.12).
Commissions: The commission is 0.06 USD per lot for all currency pairs except for CHFJPY, which has a commission of 0.04 USD per lot.
Trading Platforms
Trading with XTrend is done solely via mobile phones. The broker has developed its iOS and Android trading apps with traders in mind. However, lack for MT4 platform can still be a big drawback for this broker, because MT4 is preferred by most traders, beginners and professionals alike, because it provides perfect trading environment with great functionality.
Deposits & Withdrawals
XTrend facilitates smooth and flexible financial transactions for its clients by accepting deposits and withdrawals through a variety of payment methods. These include internationally renowned services like VISA, MASTERCARD ID Check, as well as alternative methods such as V PAY, Maestro, and Wire Transfer. This broad selection of options caters to the different financial preferences and requirements of its clients, ensuring seamless transactional operations.
Customer Service
XTrend provides comprehensive customer support services to address inquiries and assist users. They offer multiple contact options, including email communication at info@thextrend.com for general inquiries, support@thextrend.com for customer support-related matters, and funding@thextrend.com for cardholder correspondence regarding funding issues. Additionally, users can reach out via phone at +357 25258020 or send faxes to +357 25258039. The company's head office, located in Limassol, Cyprus, serves as a central point of contact for users seeking assistance or information. This multi-channel approach ensures that traders have access to the necessary support and information they require while using the XTrend platform.
Education
XTrend places considerable emphasis on the education of its users and demonstrates this commitment through the provision of educational resources like a glossary. These assets are especially beneficial for novice traders who might confront technical jargon during their initial trading journey. The glossary serves as a comprehensive guide for such users, offering easy-to-understand meanings and explanations for myriad trading terms. Not limited to beginners, this resource can also assist experienced traders in reinforcing their knowledge or understanding newly emerging terminologies in the ever-evolving trading landscape.
Conclusion
XTrend offers a wide range of trading instruments and is regulated by the Cyprus Securities Exchange Commission (CYSEC). The platform is suitable for traders with various investing styles, offering considerable leverage up to 1:500 and requiring a low minimum deposit of just $50. It also demonstrates a commitment to customer service with its comprehensive support channels, and it provides educational resources to aid traders. However, the lack of support for the popular MT4 platform could be considered a drawback depending on individual trader preferences.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
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