Abstract:Xtrade was founded in 2000 and based in Melbourne, Australia, is a online trading broker. This broker currently holds a full license from the Australian Securities and Investments Commission, a full license from the Cyprus Securities and Exchange Commission, and a retail forex license from the Financial Services Commission of Belize.
General Information & Regulation
Xtrade International Ltd (ex. Financial Arena Ltd), with registered address, 35 New Road, 2nd floor flat, Belize City, Belize, is authorised and regulated by the International Financial Services Commission in Belize, with License No. 000281/194 and provides financial services under companys scope of activity. Xtrade International Ltd client transactions are being processed by Reituca Marketing Ltd with registration no. HE231803 registered at Stasinou & Ag.Elenis 2, 1060 Nicosia. XTRADE.AU PTY LTD is authorized and regulated by the ASIC in Australia,with regulatory license number 343628.
Market Instruments
Xtrade provides investors with mainstream and tradable financial instruments in the global financial markets, including CFDs, indices, commodities, foreign exchange, stocks, ETFs, bonds, etc.
Xtrade Minimum Deposit
Xtrade has set up four account types, namely Standard (minimum deposit of $250), Premium (minimum deposit of $1,000), Platinum (minimum deposit of $5,000), and VIP (minimum deposit of $20,000).
Leverage
The maximum leverage for Forex is 1:400 for major currency pairs, 1:250 for minor currency pairs, and 1:100 for low volume currency pairs. 1:50 to 1:200 for commodities, 1:50 to 1:300 for indices products, 1:10 for stocks, also 1:10 for bonds, and 1:10 to 1:50 for ETF products.
Xtrade Spreads & Commissions
Only spreads are charged when trading on this platform. Forex spreads for major currency pairs are 5 pips for EUR/USD and 1 pip for minor currency pairs. The spread for XAUUSD is 6 pips, for XAGUSD 3.6 pips, and for natural gas 3.4 pips. Index products have a spread of 6 pips for the Russell 2000 and 3 pips for the US 500. The minimum spread for bond products is 2.2 pips and for ETF products is 2.1 pips.
Trading Platforms
Xtrade's trading platform, Xtrade WebTrader, is a browser-based web platform that makes it easier for traders to browse the best market analysis available and execute trades and orders quickly and easily, with no downloads required. The mobile application features an intuitive multi-asset application that includes full functionality for all major technical indicators and a wide range of tools for real-time charting. In addition, a tablet trading application is supported, which features an advanced graphical interface for fast trading and deposit, full activity reports, intuitive navigation, and alert settings.
Deposit & Withdrawal
Xtrade welcomes several deposit and withdrawal methods, mainly credit/debit card deposits and bank transfers. The company does not charge users for accessing funds, but banks and transfer banks may charge related processing fees, which are the responsibility of the user. If the user opens a position, the full available amount cannot be withdrawn. The margin needs to be maintained at a minimum amount: (available margin - maintenance margin) + margin ≥ 1% = maximum withdrawal amount.
Customer Support
XTrade provides also multiple support that increases the trading experience. Traders can reach out customer team through live chat, email or phone lines, also due to international coverage, there is multilingual support and centers that run 24/5.
Educational Resources
Traders are able to develop trading skills and strategies with professional trading tools, along with educational resources and daily market reviews, which makes it possible for beginners to join as well. In addition, there is an economic calendar, analysis tools and News feed inbuilt into the platform, daily analysis video and other education support essential for everyday trading.