Xtrade Review

1.35 • 28 REVIEWS
Formerly XTrade.ru (.eu)
Updated: Feb 9, 2023

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

United Arab emirates, United Arab Emirates (really the offices of Xtrade in Israel),
Aug 29, 2021,

Good, solid broker (I forgot to say they pay my salary)

Service use: Live Length of use: 3-6 Months
When you trade CFD you need to understand the dark sides as well.
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
Forex Peace Army
Review moderation team note
5 Star Rating removed.

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.
Accra-Ghana, Ghana,
Apr 20, 2020,
Registered user

I was scammed by xtrade personnel on Instagram by sending her 100$

Service use: Live Length of use: 0-3 Months
I was scammed by Xtrade official on Instagram.. she said she was gonna trade for me so I had to transfer 100$ bitcoin into her account and she later wanted to take some additional sums which I found weird. She never mentioned it to me before I started.. please help me retrieve my money back
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.

Nov 13, 2018,
Registered user

choose other broker

Maybe theres a ghost on x trade because suddenly there's a sell trade in my account and a demo account: MY ACCOUNT 38176044.... if you read this choose other Broker please!.. if you want screenshot and proof contact me
1 trader has found this review helpful
Moscow, Russian Federation,
Oct 14, 2017,
Registered user

Stay away and do not take any investment advice from freir representatives

I dealt with their Russian speaking desk, first it was Anna Novikova. Then Zhan Rusov, who was pushing me so hard, advising me to TAKE A CREDIT IN A BANK AND HE COULD EVEN RECOMMEND A BANK - what a scam. His point was that after I deposit $1000 I would be able to withdraw this deposit within a week - maximum 2 (GUARANTEED) and then trade with what I would had left on my account. Also both of them, Anna and Zhan, said that there would be just one condition for me to be able to get profit - NOT TO OPEN ANY TRADES ON MY OWN! That was the condition. Of course I would not - I know nothing about trading whatsoever! So after I deposited $1000 i was assigned Aleksandr Nazarov to be my account manager. 3-4 lucky deals under his 'supervision' then my account went to deep minus. They changed my account manager - Alexandr Antipov, who said if i deposit more money he would do his best to recover my account - never happened too. I then deposited $300 not to lose what I had locked. Then I spoke to my friend who is a solicitor in this field and if you have been in the same situation I recommend to read this letter (below) and take what you can out of it. So I submit a letter to their compliance department asking them to return my deposit - they reinstated my account with virtual money to sit the draw down until price goes back to where I opened it (never happened it was EURUSD I had a sell at 1.08 something and it never returned to this level) so I lost it at the end.

Overall it was a long and stressful story. Just read it and take what you can out of it. If you had been given a fraudulent investment advice - find a solicitor in this field, complain to FCA in London, even if you are not there - it costs nothing to file a complaint there, but it costs a lot to a broker. Keep all recordings that you were given (emails, record telephone calls - also THEY DO HAVE RECORDED TELEPHONE CALLS, so if you were in the same situation as me, you or a FCA can request them. They might give you many many reasons why they cannot have an access to them, but when they need it - they find it within 5 mins - personal experience).

Also, when you ask your account manager WHY he gave you wrong advise, which happened every single time after i filed a complaint, they think it is fine to call you back and start screaming his a** off at you and then put the phone down.
It was a VERY bad experience with this company.
Letter(main part):
ON Monday, the 8th of May 2017, I received a call from Aleksandr Nazarov who told me that I need to deposit another $2000 to be able to trade commodities and where I can earn 'real' money. He also offered me to borrow this money. I refused. Then we opened a first EUR/USD deal, I got some profit. Then another 3-4 deals were profitable. On the 12th of May he tells me to open a $50 000 EURUSD Sell trade. Which I did. It went to $-220, then $-400, $-700 and so on, now it is $-1400. I was emailing him each time it went more in minus, he would say to wait, wait, wait and that it should go down soon. So I waited and waited as was advised by Aleksandr.... until my equity shrinked. Now I only have $100 equity. Positions still opened - you charge me fees every day to keep them open and he said I need to wait until he calls me and not to do anything about it. I am still waiting....

Now I have three positions in my account and my LOSS is locked there. And yesterday Alexander called me, saying that he has spoken to analytics and they came to a conclusion that I need to deposit more money in order to save my accont from the state that HE got me into! This does sound like a scheme...

My complaint:
You are neither authorised nor qualified to give any investment advises. Your company is a broker, not a financial advisor. You do not have any license for giving finincial advices. I have no knowledge of FX markets whatsoever and you abused your position by pushing me with fake promises to deposit money, then to open the trade, which was initially not in my favour, as well as pushing me to take the maximum leverage since the commissions are higher (for beginners there should only be a leverage of maximum 1:25 and at no point 1:400), Now I have 3 positions opened where you charge me fees daily but no one tells me to close them, as you get your fee daily on them - very dishonest! I have our correspondence with Alexander where he 'advises' me to keep the trades.
I want you to reimburse my deposit of $1000 either to my account, so I can withdraw it or right into my bank. If you do not do so, I and my solicitor in London will report you to Financial Ombudsman in London, FCA, CROFR, Naufor and CySEC and any other institution we find relevant to this case. We will start with CySEC as they still passporting a financial service from Cyprus to the UK And you still broker to the Financial Authority Code of Business.
1 trader has found this review helpful
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