Both new and seasoned traders will benefit from reading our Xtradе review because here is a broker that has something to offer everyone. For those of you who can’t miss taking advantage of special offers Xtrade bonuses are amazing. For those who like a bit of variety, Xtrade offers not just foreign currencies but shares, indices, commodities and CFDs. For those who never finish learning Xtrade has its very own online academy. Since its inception, it has grown into a broker with a global reputation and has even managed to get a celebrity on board. Legendary football player, Cristiano Ronaldo has recently agreed to be the broker’s official ambassador.
A brief introduction to Xtrade
Xtrade is owned by XFR Financial Ltd and is licensed and authorized to offer Contracts for Difference (CFD) by CySEC. Its base of operations is Limassol, Cyprus but there are also branches in Italy and Australia. Xtrade also operates under MiFID (Markets in Financial Instruments Directive) which authorizes it to offer its investment services across all member states of the European Economic Area.
Xtrade has its own trading platform as well as MT4
When Xtrade first entered the world of online trading it was one of very few that were offering CFDs. As such it was forced to create software of its own that could cope with a different way of trading. Don’t let that be a worry though, as it is little different from many other online trading platforms, and that includes MT4. It is a very user-friendly platform that offers one-touch access to a good range of trading tools and order history along with other useful information such as open positions and asset choices. It requires no download and there is also an Xtrade mobile version so you aren’t forced to sit at home using the desktop. The latest 256-bit SSL technology is put to good use to keep all personal, financial and trading information safe and secure.
One Xtrade demo and one live account makes choosing really easy
Xtrade has decided to offer a one size fits all real trading account and we were glad to learn there is also a demo account option. No deposit and a simple registration can have you trading with a pot of virtual money in just a few minutes. A demo account is the perfect starting point for new traders and also the more experienced trader who aren’t too sure about choosing Xtrade for a broker. It is also a good opportunity to try out new strategies, experience what the trading platform has to offer and to get a general feel for the broker. Once you’ve found your way and are ready to trade with real money the next step is to open a live trading account. Not everyone is going to be excited by the one available account but we found it easy to navigate and very enjoyable. Minimum deposit is only $100 and spreads average around 0.3 to 0.6 pips. Xtrade doesn’t mind scalping, hedging or automated trading.
A number of payment methods are supported by Xtrade including credit and debit cards, bank transfer, WebMoney, eCards, ePay, Neteller, and many other local methods.
Choose Xtrade for your broker and enjoy a number of Xtrade bonuses
For some bonuses are a good thing. While some would prefer to steer well clear of any broker offering plenty of bonuses. We stand pretty much on the fence but feel it’s important to keep our readers informed. There are a number of Xtrade bonuses available, especially for new customers and here are the details. Note bonuses are not valid for EU traders and T&C apply.
- 77% bonus on all deposits made in the first 7 days – This account is offered by Ronaldo when you first open an account
- First deposit of up to $6,000 – Requires a certain number of trading points to be accumulated within 30 days before the bonus is added to a trading account
- $20 phone verification bonus – Only redeemable when 300 trading points have been earned within 30 days
- First trade on Xtrade – The first deal you make with Xtrade is covered, allowing you to keep any profits or have the loss refunded up to $120
- $30 account verification bonus – Only redeemable when 300 trading points have been earned within 30 days
- Xtrade VIP package – This bonus brings with it certain benefits including extra training sessions, the services of a personal account manager, exclusive bonuses and promotions, discounts on spreads, special financial terms, and worthwhile gifts.
There aren’t many other brokers who offer such a range of bonuses, but they do come with some very hefty terms and conditions. Which doesn’t mean they aren’t worth considering, but it does mean you should always read them carefully and be aware of what you are required to do in order to benefit. Many of the problems we’ve read about various brokers often center around withdrawals and bonuses. And they wouldn’t have happened if the trader has taken the time to read the bonus requirements.
Customer service is available 24/5
Having support available when you need it is important in the world of Forex trading, especially when you’re a beginner. Xtrade customer support can be reached 24 hours a day, 5 days a week. This can be done with an email, fax, or by calling an international telephone number, of which there are many available. There is also an instant chat option.
Xtrade is also high on our list because of the amount of educational material available. There is a good range of tutorials, courses and everyone is invited to enter the Xtrade Academy.
Whatever your style or level of experience there will be something of interest with Xtrade. They already have a great reputation, an interesting array of bonuses, mobile trading app, low spreads, a good choice of assets and instruments for trading. There isn’t really anything to make you look elsewhere, but as always we’d advise you to start with a demo account before making a deposit.