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.
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.
|Minimum Trade Size:||0.01|
|Minimum to Open Live:||$250|
|Address:||No.5 Cork Street, Belize City, Belize. C.A, Belize|
|Contact:||firstname.lastname@example.org, +44 2038074001|
|Regulators:||ASIC #ACN: 140899476 AFSL: 343628, FSC #IFSC/60/383/TS/15|
|Trading platforms:||WebTrader, MobileTrader (MobileApp)|
|Web Trading:||✅ Yes|
|Mobile Trading:||✅ Yes|
|Cryptocurrencies:||(15+) Bitcoin, Litecoin, Ethereum|
|CFD:||(445+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities|
|News Trading:||✅ Yes|
|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|
Good, solid broker (I forgot to say they pay my salary)
Don't expect the broker to be a saint but you do need to expect the broker to be fair.
Losing some money is a calculated risk but i've earned quite an amount so far.
and even when i lost and needed their customer support - they called back and helped me withdraw my funds (found it a bit complicated there).
Final judgment - fair and solid broker
This review did not come from the UAE. It came from the same location in Israel used by Xtrade's representative to the FPA.
Per FPA policy, the rating on this review has been set to Zero stars.
Take It Easy The stop Loss. Take profit Will always Take over The chosen level . Do Not recomend To use this broker.
How Xtrade scammed me
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 email@example.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/
Please don't deposit fund if you love your money.
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
Xtrade cannot be trustsed you will lose your money
They continuously do the same actions - they were recently fined for xforex same company and its documented Elana Solomon worked for Xforex and Xtrade and nothing has changed. I have made a video about them on youtube just type xtrade it comes up in the first page you will see it xtrade scam review over 80000 views so far. Please view and like it
Oct 18, 2016 - 1 Star I am starting a class action against Xtrade if anyone is interested with Phoenix Advisors - get in touch
Sep 22, 2016 - 1 Star can anything be done to recover losses and money with this company - any class actions?
they gave advise that made you lose