Is XTrade a reliable broker? They look to be just like another broker. Even though they have grown in recent years due to the increased variety of basic assets with which they can be discussed. Before investing in online trading, we advise that you should learn forex trading first.
Due to its average customer service, we believe it is a broker that offers something to be expected. Although the company has a lot of possibilities, we need to make sure it’s a good broker before we pick them. In this article, we will tell you all the information that we must thoroughly examine its benefits and drawbacks.
Table of Contents
Is XTrade broker a scam or not?
The first step in any review should always be to look at the broker’s regulation. Why? It shows us if the broker is safe and trustworthy. Although being regulated is not a guarantee of security, it is a strong indication that they take their business properly and are not a scam.
Because XTrade broker is based in Cyprus and it is regulated and authorized by the CySEC. However, all the treaties, communities, and regulations adhere to Cyprus like many other European Union and the eurozone, including Spain.
Is it true that XTrade pays?
One of the issues that traders have before investing with a CFD broker is whether they can withdraw their funds without difficulty. In this respect, we must clarify that, depending on internet posts, XTrade pays on time generally, even if one may come across comments from customers claiming to have had difficulties taking their funds.
Withdrawals and Deposits
The client has various options for depositing or withdrawing funds, depending on the client’s location, which you can simply check thru the official XTrade website. However, there are many methods available, and you can select the one that is most suitable for you. Here are the written below;
- Credit and debit cards
- Bank transfers
- American Express
- Skrill and many other common options
Therefore, the company does not charge the client any fees for deposits or withdrawals.
What is the minimum deposit required in XTrade?
The minimum deposit required in XTrade is $200. You should calculate and cover all financial requirements because different trading products have varying margins and spread. When you start a new position in the market, the account must be larger than the trade’s initial margin demand. Xtrade also conducts specials from time to time with lower deposit minimums.
To summarise the Xtrade review, the broker provides traders with stable and reliable trading conditions. Their main focus is on a fixed spread with no hidden costs, a strong web-based platform, and a wide range of trading products. As a regulated broker, the organization follows strict rules regarding client protection, fund security, and a secure trading environment. What’s more, XTrade supports their traders in a variety of ways, from excellent customer service to 0$ fees on money transfers, as well as broadly supported methods.
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