Xtrade-Overview of Minimum Deposit, Leverage, Spreads

General Information & Regulation

Xtrade, a trading name of Xtrade International Limited, is allegedly a forex and CFD broker authorized and regulated by the International Financial Services Commission (IFSC) in Belize, with License No. 000281/343 and provides its clients with various tradable financial instruments with leverage up to 400:1, fixed spreads and no commission on the WebTrader, Mobile Trading App and Tablet Trading App trading platforms, as well as a choice of four different real account types and 24/7 customer support service.

Market Instruments

Xtrade advertises that it offers a wide range of financial instruments, which include CFDs, indices, commodities (gold, silver, natural gas, etc.), shares, stocks, forex, ETFs and bonds, as well as cryptocurrencies.

Account Types

Apart from demo accounts, there are four real trading account types offered by Xtrade, namely Standard, Premium, Platinum and VIP. Opening a Standard account requires the minimum initial deposit amount of $200, while the other three account types have much higher minimum initial capital requirements of $1,000, $5,000 and $25,000 respectively.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. The maximum leverage available at Xtrade is up to 400:1. Remember that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

Xtrade says to offer fixed spreads, yet no specific value is involved. As for commissions, there are no commission fee deposits charged.

Trading Platform Available

Platforms available for trading at Xtrade are WebTrader, Mobile Trading App and Tablet Trading App, compatible with the web, iOS and Android terminals. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

Xtrade says that traders can use all the leading online transfer mechanisms for deposits and withdrawals, determined by the currency you choose during the deposit process, such as credit/debit cards, bank transfers, American Express, and many more options. The minimum initial deposit requirement is said to be $250, however, the broker says it occasionally runs promotions offering lower deposit threshold minimums. The broker states that it does not charge any fees for deposits and withdrawals. However, for banks and/or intermediaries banks, the processors fees may apply. Withdrawal requests usually take up to five business days to process.

Bonuses & Fees

Xtrade claims to offer various bonuses, for example, first deposit bonus up to $2,500, phone verification of $25 cash bonus, first trade on them of up to $500 cash bonus and account verification of 10% bonus, yet the bonus can only be withdrawn when the required amount of trading is achieved.

The broker also charges some fees. An account is considered inactive if there has been no trading activity for a period of 3 months and will be charged an inactivity fee of $50 per month. More details can be found in the below screenshot.

Customer Support

Xtrades customer support can be reached by telephone: +852 58080622, phone: 1800 017 5700, email: info@xtrade.com, support@xtrade.com or live chat. You can also follow this broker on social media platforms such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Registered address, 35 New Road, 2nd floor flat, Belize City, Belize.

Risk Warning

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.