Xtrade Review

1.35 • 28 REVIEWS
Formerly XTrade.ru (.eu)
Updated: Nov 13, 2022
Xtrade.com

XTrade is a forex broker regulated by ASIC (Australia) and IFSC (Belize).

XTrade offers CFD trading on Shares, Commodities, Forex, Indices, Bonds, ETFs as well as cryptocurrencies.

Trading is powered solely by XTrade proprietary trading platform accessible from the web and mobile devices.

Please read XTrade Reviews below and share live trading experiences with this broker.

July-December 2021:  Large numbers of fake and highly suspicious positive reviews submitted for XTrade, including one from inside the company's offices.

January-April 2019:  Large numbers of fake and highly suspicious positive reviews submitted for Xtrade.

Related websites include FXCryptoTrade.net, OffersFX.com, and 8invest.com.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 400:1
Minimum to Open Live: $250
Established: 2012
Address: No.5 Cork Street, Belize City, Belize. C.A, Belize
Contact: support@xtrade.com, +44 2038074001
Regional offices:
Regulators: ASIC #ACN: 140899476 AFSL: 343628, FSC #IFSC/60/383/TS/15
Prohibited countries: Unknown
Trading platforms: WebTrader, MobileTrader (MobileApp)
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes

Trading Instruments

Currencies: (55+)
Cryptocurrencies: (15+) Bitcoin, Litecoin, Ethereum
CFD: (445+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities

Trading Conditions

News Trading: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alipay, AstroPay, Boleto, BPAY, Cartão Mercado Livre, CASHU, ecoPayz, Elo (Brazil), ePay (epay.bg), EPS, FasaPay, Giropay, HalCash, iBank&BankLink, iDEAL, Itau, JCB, Jeton, Moneta.ru, Multibanco, Neosurf, Oxxo, PagoEfectivo, PagoFacil, PayU, Poli, Przelewy24, PSE, Qiwi, Rapipago, SOFORT, TeleIngreso , toditoCash, UnionPay, VLoad, WebMoney, WeChatPay, Wire2Pay, Yandex Money
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alipay, AstroPay, Boleto, BPAY, Cartão Mercado Livre, CASHU, ecoPayz, Elo (Brazil), ePay (epay.bg), EPS, FasaPay, Giropay, HalCash, iBank&BankLink, iDEAL, Itau, JCB, Jeton, Moneta.ru, Multibanco, Neosurf, Oxxo, PagoEfectivo, PagoFacil, PayU, Poli, Przelewy24, PSE, Qiwi, Rapipago, SOFORT, TeleIngreso , toditoCash, UnionPay, VLoad, WebMoney, WeChatPay, Wire2Pay, Yandex Money
1.35 • 28 REVIEWS

Traders Reviews

B
Athens, Greece,
Nov 5, 2016,
Registered user

Terrible Scam

XTRADE is using very unfair conditions in their platform.

First of all, there is a very big latency in the execution.
Near volatile events, an order may need even 30 SECS in order to take place.
Meanwhile their platform is using an animation (a cycle turning, with application like style) , frosting any other possible action giving you no option to cancel this situation that you could not even imagine.
And the nightmare doesn't end here....
The most TRAGIC of all is coming after :
If you ask to open a position (for example buy) a specific instrument, and you wait for all those secs, it's not even then guaranteed that you will have your position opened!!!
You may receive a msg ''the price has changed ''! That is happening if the market is moving favoring you!
In the case that the market had dropped in the meanwhile (going against you) you will find your order opened with a big slippage and your position suffering a big loss from the very beginning!!!

This is not happening with other brokers.
Either a broker has requoting, so he is asking for your affirmation to open the position on a different price every time , OR he offers no requoting, and he is opening every order to the asked price giving you profit or loss if the market went with your trade or against it!

XTRADE has a kind of ''selective'' requoting.
XTRADE is asking you for permission again if the price goes to the direction you wanted to (telling you that finally the price has changed) , pretending that she couldn't buy on the asked price.
But there is no requoting if the market goes against your asked position!! Then your trade is always opened, of course with a big slippage almost always!

It's really scandalous, that the regulators haven't taken more drastic measures against this company, because EVERYTHING from the above can be proved very easily, with a just 10 mins video and a few trading actions.

Stay AWAY from XTRADE
P
United Arab Emirates,
Oct 21, 2016,
Registered user

Please don't deposit fund if you love your money.

They are Just cheaters. knows how to take money even without activating the account and never knows how to return the money
G
Limassol, Cyprus,
Oct 6, 2016,
Registered user

How Xtrade scammed me

My name is George Adrian and on 17/06/2016 i opened a position in my trading account in XTRADE of 150 contracts ($150 per pip value) on german 30 index at price 9700 .


Today the price on german 30 (german index )was moving from 9950 to 9980. The spread on german 30 between the buy price and the selling price is always 2 -3.At this point i was winning 250 pips(points) ×150$ per point=$ 40.000.

Xtrade increased the spread in my account from 2 pips to 350 pips so i had only $ 10.000.

They increased the spread of german 30 only in my account, the rest of the accounts was 2 pips. I can provide you with a screenshot of the other account.

I spoke to my account manager Rossana and she told me that it was a mistake of the company and that they will try to fix the problem within 20 minutes.
After one hour the problem wasn't solved. I called again the company asking to talk to my account manager and they were telling me that she was busy . Then somebody else answered the phone and told me that they have decided that my profit will remain at $10 000.

After that they decide to block my account and l couldn't log in so i emailed the compliance@xtrade.com to close my position at the price 9980 and the time was 15:28.

I decided to go to the company to see what is happening with my account and met a man named Alex who told me that tomorrow they will check my account to see exactly what the problem is and why they closed my trades at price 9950 with the spread of 350 pips.

I am asking to get paid all my profits at the price that i have sent them the email.

They changed the spreads in order for me to have less profit. I can prove this because a friend of mine as i mentioned above loged in the same time with me and the spreads in his account on german 30 was 3 pips and in my account was 350 pips.

I have also pictures and videos that proves what i am saying.

The first thing i did after 20th of June i report my complaint to the police. They rejected it the same second and they kindly asked me to inform the financial crime police in Cyprus. They also rejected it because they said that for forex financial fraud CYSEC is responsible.
Next day i called Cysec to file my complaint and I've got rejected again.The reason is that Cysec does not accept complaints from individual traders!
They also kindly asked me to file my complaint to the financial Ombudsman which i did.
Cysec representative told me that CYSEC organization and Ombudsman are NOT connected.
They explained me that Ombudsman solves issues individually . Cysec has nothing to do with their decision.
I asked them as a regulator what protection they are giving me and the answer is none at all. Only if a broker shuts down i am allowed a maximum return of 20000 euro.
Cysec also informed me that even if the Ombudsman requests that i get paid THE BROKER can reject the decision.
That means 7 years in the court.
After all this i filed my complaint to the Ombudsman. They should have replied in the first 3 days but 21 days already passed without any news.....
This is why i decided to start a hunger strike in front of the XTrade offices, in hopes that i can get my profits back.

Some news websites in Cyprus have already published about my hunger strike. You can see one example here : http://financefeeds.com/exclusive-angry-x-trade-customers-arrive-in-cyprus-commence-hunger-strike-and-media-campaign-alleging-manipulation-and-theft-of-funds/
S
Italy,
Sep 8, 2016,
Registered user

I have some news on XTrade . In January 2016 I reported this company to the Ombudsman of Cyprus by written Complaint and the payment of 20 € by bank transfer . RESULT : AFTER six months XTrade Mandate has got A mail to repay Part of What I missed and AFTER A short negotiation I signed and I have returned 15 thousand dollars . Now it is not yet finished Because Besides giving me Done lose money with wrong suggestions , They Posted my data on the web and I have already called in a dozen of which nine are crooks and tenth 'm waiting A Review on various forums but certainly it he is . Now I Asked The Damage Even for this . If they do not pay anything to make him ready Already Paying adequately. A Some of you is the same thing happened ? If we work together to get the compensation What we are entitled ?
M
Markruinart
Parma, Italy,
May 31, 2016,
Guest

High spread. Delaying The entrane than always buying against us.
Take It Easy The stop Loss. Take profit Will always Take over The chosen level . Do Not recomend To use this broker.
T
TRELL MARIE ABERGAS
PASIG CITY, Philippines,
May 21, 2016,
Guest

GOOD DAY TO ALL! MY FAMILY DECIDED TO FILE CASE AGAINST THE SAID COMPANY BECAUSE OF NEGLIGENCE ON GIVING COMPLETE INFORMATION AND TRAINING BEFORE I STARTED TRADING. I HAVE COMPLETE EVIDENCE THAT I DEPOSITED 3X TOTAL AMOUNT OF 600USD ON XTRADE ONLINE CFD TRADING THIS MONTH OF MAY 2016. THE MONEY I DEPOSITED WAS FOR MY DAUGHTERS SCHOOL FEE THIS COMING JUNE 2016, I AM REALLY DESPERATE TO GET BACK THE MONEY I DEPOSITED BECAUSE I LOST IT ALL IN ONEDAY TRADING, I WAS SHOCKED AND THE EMOTIONAL DAMAGE DONE WAS REALLY WORST ON MY PART ALSO WITH MEMBERS OF MY FAMILY. WE URGENTLY NEED HELP WHOMEVER CAN HELP ME RECOVER MY 600USD BECAUSE MY DAUGHTER BADLY NEEED THE MONEY THIS JUNE 2016 FOR HER TUITION FEE.... PLEASE HELP US ........ IM A SINGLE MOTHER OF THREE KIDS AND THE BREADWINNER OF MY FAMILY I LIVE IN THE PHILLIPPINES.... YOU CAN CHECK MY RECEIPTS OF DEPOSITS MADE TO XTRADE ONLINE CFD TRADING......... ITS AN INTERNATIONAL COMPANY.......I DONT KNOW WHERE TO GO TO..... XTRADE COMPANY PLEASE HAVE THE HEART TO RETURN MY DEPOSIT SOONEST POSSIBLE...... MY FAMILY NEEDS IT BADLY NOW...... PLEASE REPLY TO THIS MESSAGE.
S
Simon
Limassol, Cyprus,
May 20, 2016,
Guest

Xtrade is a new name for old broker Xforex. As an ex-employee I would strongly advise to avoid this broker. Read comments about Xforex to find out who you are dealing with
J
julie4444
united kingdom, United Kingdom,
May 17, 2016,
Guest

xtrade broker is a deceiving broker.They closed my trade with wheat, claiming it achieved 484,75 level, it did not happen as they are 25-30 points behind official forex trade, its so bad really.and then I checked wheat level went down, as could start winning they decided to close that trade quickly.I checked their candle stick it showed that 484,75 was never reached.Deception, bad broker
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