Der The market for trading CFDs is constantly growing and this means that a growing number of providers in this area are also fighting for the favor of customers. Of course, every provider strives to stand out from the mass of providers with particularly interesting services. Against this background, the provider XTrade is trying to score points with its innovative trading platform. In addition to the technical possibilities, we have of course also checked all other aspects that belong to a good CFD broker. Of course, this also includes the question of seriousness and security. After all, it is a basic requirement for the investor that he can be safe from fraud or rip-off. All test results in our report below.
|🥇 Best Vendor||XTrade|
|⭐Rating||4.0 / 5.0|
|🐂 Return||Forex, CFD|
|📈 Options||over 500 stocks, indices and more|
|💻 Basiswerte||Own software|
|🏆 XTrade||For comparison|
We have had this experience with XTrade
As always, when evaluating an online broker, the overall picture counts, and all in all we gained a good impression. The online broker belongs to the company XFR Financial Ltd. and, like so many online brokers specializing in CFD trading, is based in Cyprus. From there, an international customer structure is addressed, among other things, the company is also present on the market in Kenya.
|Company||XFR Financial Ltd.|
|Address| ||108||Vasileos Constantinou 140, 3080 Limassol, Cyprus|
|Regulation / License||CySec, 108 /10|
|Service times|| |138||Ja|
Overall, XTrade has a very wide range of tradable assets, with a technically mature product available for trading itself is made available. Both the registration and the start of trading do not pose any problems and the customer can feel that he is in very good hands with the background of the convenient support offer. This also applies to the area of security. The online broker makes a very serious impression in day-to-day business and all the necessary conditions are also formally met in this regard. Fraud or rip-offs do not have to be feared with this provider and the trader can fully devote himself to trading with CFDs.
Very wide range of tradable values
Anyone who is within the scene Anyone who has already looked around for providers in the field of CFD trading will know that there are sometimes major differences between the individual providers with regard to the trading offer. While some only provide around 100 base values for CFD trading, others have several thousand values to choose from. Even if a huge selection does not have to be the all-important factor for most traders, a good selection can also be seen as the advantage that the trader can constantly develop and reorient himself in trading.
These In the case of XTrade, there is always a possibility. In principle, base values from the areas of shares, indices, commodities and currency pairs are made available for leveraged trading. The range of shares is structured according to different countries. In addition to European values, US and Asian values can also be traded via CFD. The same applies to the availability of indexes. And in the areas of commodities and currencies, an extremely wide range awaits traders, which not only includes the well-known values and majors, but goes far beyond them.
Depending on the underlying asset, different levels of financial leverage can be used. These are fixed for each value and cannot be varied. Shares can be traded with a leverage of up to 1:20. Leverages of up to 1:50 are even offered in forex trading.
With regard to the fees, XTrade works with fixed spreads, but without commissions. According to the company, customers are billed for spreads that are close to the market. The spreads differ depending on the value and available market liquidity.
Several bonus offers for new customers
There is no bonus for new or existing customers of XTrade. The broker thus also meets the requirements of the regulation, which currently completely prohibits bonus offers. So this point can of course be rated positively in our test.
Many deposit and withdrawal options
Looking at the available payment methods, it becomes clear how international XTrade is at all. More than 50 regionally different payment methods are currently offered. Of course, we only dealt with the species that XTrade offers its customers in Kenya. Canadian customers also have a wide selection. Of course, you have the option of depositing money by credit card. VISA and MasterCard cards are accepted. In addition, various online payment services can also be used, including Fast Bank Transfer, CashU, giropay or Skrill and Neteller.
|Payment methods available from the provider|
|Payment options:||Credit cards, bank transfer, Giropay, Neteller, Paysafecard, Skrill, Sofortüberweisung|
|Account management possible in:||EUR, USD, GBP|
|Payout options:||Credit card, bank transfer, Skrill, Neteller|
The provider XTrade points out in this context that the same providers must be used for deposits and withdrawals. Specific upper limits for the volume of the transaction apply to all payment options offered. A maximum of 15,000 US dollars can be transferred by credit card. Only with the Fast Bank Transfer is the total amount not limited.
The time limits that have to be planned for payments are unusually long. Even if it can be faster in individual cases, XTrade points out that it can take up to 10 days for the money to reach the trader's private account. In any case, other providers are much faster. There are no fees for deposits or withdrawals.
Regulation by the authorities in Cyprus
One of the most important characteristics of any provider is the question of security and regulation . Many companies offering trading in CFDs have chosen to be based in Cyprus, including XTrade. As everyone knows, Cyprus is under the jurisdiction of the EU directives, which means an acceptable standard for customers in terms of safety of their deposits. Responsible in Cyprus is CySec, where XTrade has a license number (108/10). However, there is no specific information about questions of deposit protection and the form of administration of customer funds. If you want to know more about this, you should contact customer service.
In addition to regulation at the headquarters, there are also controls in the countries in which the provider operates its own branches. Kenya is currently not one of these countries.
Support and customer service at a glance
Anyone who has a question about the trading offer, the technical processing of the trade or questions about the security of the deposits at XTrade, the There are various ways of contacting the online broker's support directly.
Customer service is available by phone 24 hours a day, every day except Sunday. Canadian customers are also offered their own telephone number where they can reach a Canadian-speaking contact person. In addition, fax and e-mail are other ways of making contact in an uncomplicated manner. And also live chat can be availed to communicate with XTrade team.
The offer in the field of education must be viewed as somewhat weak, particularly from the point of view of Canadian customers. Only a guide for trading is offered here, which is also only available in English. The customer will not find any other formats in the XTrade offer.
High standard in the trading technique offered
XTrade's most important trump card can be seen in its groundbreaking trading technique. Here, customers are actually offered a highly innovative and at the same time easy-to-use product. The user has the opportunity to trade via a trading platform on the web. On the other hand, proprietary software such as MetaTrader is not offered. Alternatively or just as a supplement, mobile trading is also possible via smartphone with an app. Corresponding apps are offered on the website for the systems iOS, Android and Windows Phone. With the XTrade trading platform, the trader has a very wide selection of instruments at his disposal, the use of which can also be developed very intuitively. The scope of services includes professional charts, warning functions and various analysis tools.
Customers will also find their way around very quickly on the website itself. This is very clearly laid out and navigating to all available information works without any problems.
Conclusion – With XTrade the trader has many options
With XTrade we have tested an online broker who has a lot to offer when it comes to trading with CFDs. The very wide range of tradable underlying assets and the available trading technology should be emphasized in the first place. The service, which can be reached 24 hours a day, six days a week, also deserves recognition. However, as is customary in the industry, the payment of the premiums is linked to conditions which, above all, require very intensive trading. On the other hand, compromises have to be made in the training area, which cannot yet keep up with the top providers in the industry.
On the other hand, we could not find any indications that the provider used dubious business practices. On the contrary: The location within the EU should guarantee that there is no room for rip-offs and fraud.
The online broker XTrade offers an outstanding platform with which trading can be carried out according to my ideas. In addition, the offer can be accessed from multiple devices on the same platform.
written 63 months ago