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XTrade - What's now?

We are no longer promoting XTrade. The information regarding to XTrade on the website 'Hercules.Finance' maybe outdated. ref. XTrade

Established in the year 2010, Xtrade is a respected online brokerage service that has been serving clients globally for over a decade. With its operational headquarters strategically situated in various regions, including Australia, Cyprus, Belize, and Russia, it successfully provides its Forex/CFD trading services to a broad clientele base comprising over 4 million users from different corners of the world.

Regulation and Compliance

One of Xtrade’s unique attributes is its compliance with several regulatory authorities, ensuring its credibility and trustworthiness in the trading industry. The regulatory bodies overseeing Xtrade’s operations include the Australian Securities and Investments Commission (ASIC 342628), Cyprus Securities and Exchange Commission (CySEC 108/10), International Financial Services Commission of Belize (IFSC/60/383/TS/15), and the National Association of Forex Dealers in Russia (NAFD A). These regulators ensure that Xtrade maintains high standards of operation, providing additional assurance for its clients’ funds and trading activities.

Trading Conditions and Fees

Regarding its trading conditions, Xtrade imposes a minimum deposit requirement of $100, making it accessible for both beginners and experienced traders. It offers a maximum leverage ratio of 1:400, enabling traders to control larger positions with a smaller amount of money. The minimum position size is set at 0.01 lot, which provides room for precise trading decisions. Notably, Xtrade operates a fixed spread model, ranging from 2-5 pips, which is beneficial for traders as it remains constant regardless of market conditions.

Unlike other brokers, Xtrade does not charge any commission on trades. However, it’s crucial to note that Xtrade applies an inactivity fee of up to $50 per month on accounts that remain dormant for 3 months and a maintenance fee of $100 for accounts inactive for more than a year.

Trading Platform

Diverging from the common trend of brokers offering the MetaTrader platform, Xtrade has decided to develop and provide its proprietary trading platform. This platform, designed with a user-friendly interface and various trading tools, is accessible on multiple devices, including desktop computers, mobile applications, and tablets.

Trading Instruments

Xtrade caters to a wide range of trading preferences by offering an extensive array of trading assets. These include Forex pairs, stocks from various global markets, several market indexes, and trending cryptocurrencies. Each asset category has a different leverage limit, with Forex offering the highest leverage of up to 1:400, followed by indexes at 1:200, stocks at 1:20, and cryptocurrencies, which are the most volatile, offering a leverage of 1:10.

Payment Methods

When it comes to facilitating transactions, Xtrade offers a variety of secure and convenient payment methods. These include traditional methods such as wire transfers, and online solutions such as WebMoney, Skrill, QIWI, and Neteller. It also supports region-specific platforms like CashU for Middle East clients. Additional methods include paysafecard, giropay, YooMoney, UnionPay, SOFORT, and credit/debit cards. Significantly, Xtrade doesn’t charge any additional fees for either deposit or withdrawal transactions, thus maximizing the potential returns for traders.

Educational Resources

While Xtrade does provide basic educational resources for its users, the materials primarily consist of fundamental explanations about each trading instrument. This limited focus might leave beginner traders seeking comprehensive education materials elsewhere.

Customer Support

Xtrade ensures a seamless trading experience by providing a dedicated customer support service to address queries and concerns of traders from around the world.

Conclusion

All in all, Xtrade, with its multi-regulated platform, wide range of tradable assets, and user-friendly proprietary platform, presents itself as an accessible choice for traders. However, prospective traders should consider the inactivity and maintenance fees and the lack of in-depth educational resources before making a decision. For more details, visit their official website at www.xtrade.com.

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