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XTRADE
Unregulated
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XTRADE

Belize
Not disclosed
2
2.76
Rating Index
Software
6.95
Licensed
0.91
Risk Control
1.51
Experience
6.4
Institution
2.13
Industry Classification
D
Unqualified
Trading Platforms
Proprietary platform

Basic Information

  • Registered Region
    Belize
  • Operation Status
    Abnormal
  • Operating Period
    Not disclosed
  • Deposit Methods
    Credit/Debit cards, Bank transfer, American Express
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
  • Main Business
    FX, commodities, digital assets, stocks, indices, CFDs
  • Business Type
    FX broker / Multi-asset
  • Social Media
  • Contact Details
  • Type of Accounts
    Standard (min deposit $200), Premium (min deposit $1,000), Platinum (min deposit $5,000), VIP (min deposit $25,000)
  • Trading Platforms
    Proprietary platform
  • Withdraw Methods
    FxPro Wallet
  • Auto Trading
    Not disclosed

Pros and Cons

**Pros**: Offers various account types suitable for different investor profiles; a proprietary trading platform; customer support available; demo accounts for practice. **Cons**: Unregulated status; high spreads starting at 2 pips; previous regulatory issues including a revoked ASIC license; multiple complaints regarding fund withdrawals and account management.

Company Background

XTRADE is an online trading platform that allows investors to trade various financial instruments including Forex, CFDs, commodities, and stocks. Registered in Belize, it presents itself as a global broker aiming to cater to traders through a proprietary platform. Although XTRADE claims to have been operational for several years, regulatory concerns regarding its licenses have raised apprehensions about its credibility.

Fund Security

The broker's fund security measures are questionable due to its status of being unregulated. It has previously held licenses that have since been revoked or identified as suspicious clones, which poses risks regarding client fund safety. Users should exercise caution before depositing funds.

Account Opening

Account opening is straightforward, with four types of accounts available. The minimum deposit for a Standard account is $200, while Premium, Platinum, and VIP accounts require higher deposits. Demo accounts are offered for practice without risk.

Trading Fees

Spreads start from 2 pips, which can be considered high compared to industry standards. There are no commission fees; however, the overall cost of trading may be elevated due to the high spreads.

Trading Instruments

XTRADE supports a broad range of trading instruments including Forex, CFDs, commodities, shares, indices, and ETFs which provides a diversified trading experience for users.

Trading Technology

The broker utilizes a proprietary trading platform designed for web and mobile access, although it lacks the advanced capabilities of widely recognized platforms like MT4/MT5.

Research and Education

Research and educational resources are not prominently highlighted, making it less appealing for novice traders seeking guidance and support to enhance their trading knowledge.

Customer Support

Customer support is reportedly available 24/7 through email and a contact number. However, multiple reviews indicate issues with response times and difficulty in contacting support for urgent issues.
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Rating Instructions
Rating Index
XTRADE
XTRADE
Unregulated
Legal Environment
6.95
License Value
0.91
Risk Management
1.51
Investor Protection
6.4
Regulatory Policy
2.13
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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