Review & Opinion on XTrade(XFR Financial Limited)

April 28, 2016

Notification

We no longer promote XFR Financial Limited. The information on the website related to this brokerage firm may be outdated.

Here we will review the service of XTrade.

Please note that the review written in this page is not for advertising objective nor officially authorized by any entities, but it is intended to help traders get to know about this broker better.

Who is XTrade?

XTrade official website photo in english

XTrade is an online Forex & CFD broker regulated by several financial regulations as follows:

  • CySEC – Cyprus
  • IFSC – Belize
  • ASIC – Australia
  • CONSOB – Italy

The broker has been providing financial services since 2007, it has got one of the oldest history as an online broker.

XTrade mainly focuses on CFD products, but not Forex part, as it offers more than 800 CFDs and no brokers offer such amount of CFD product through one trading platform.

Trading Environment?

XTrade offers the largest number of CFDs(more than 800) and also Forex Currency Pairs. 

The maximum leverage is 1:400 but this is for Forex Pairs and CFD instruments require normally 0.5% – 1% of margins for trading. So the leverage condition is at around average.

The stop out % is 15% which is lower than many brokers, so you can use almost full margins to continue your tradings.

No margin calls and Negative Balance Protection is also set to all its trading accounts.

The Forex spread starts from 4 pips which is higher than many brokers, but spread for CFD products are same as the actual underlying instruments.

There are several trading restrictions such as Scalping, all kinds of Arbitrage and price manipulation etc.

The condition may not be the best for Forex traders, but the broker offers the best investment solution for CFD traders.

Bonus & Promotions?

There are many bonus promotions offered by XTrade as follows:

  • Phone Verification Bonus(no deposit required, Available for withdrawal by trading certain lots)
  • Account Verification Bonus(no deposit required, Available for withdrawal by trading certain lots)
  • Deposit Bonus(Available for withdrawal by trading certain lots)
  • Insurance Program to cover losses

Also XTrade has become an official sponsor of Cristiano Ronaldo and the broker is celebrating by offering special exclusive bonuses.

The promotions are not so gorgeous but almost all of them are available for withdrawal by trading.

XTrade has got better promotion conditions than others.

Customer Service?

XTrade is more eager to promote the brand and get in touch with its clients often.

Live support itself is not very helpful sometimes, and it is often that the support staffs procrastinate inquiries from traders.

You are recommended to get close relationship with your account manager, so you can trade and deposit/withdraw smoothly.

Although, the level of the customer service itself is at around the average among online brokers.

Complains from traders?

XTrade is a fully regulated broker by several strict financial regulations(like ASIC and CySEC) though, several traders have complained that they are having trouble withdrawing their funds from the broker due to some reasons.

XTrade provides its main service in OTC model and there are more than usual restrictions on trading methods.

So you are recommended to read the Terms and Conditions of XTrade and make sure that you know the conditions of tradings before you make a deposit.

Please note that there haven’t been any penalty charges from these financial regulations to XTrade before.

CFD trading always comes with some certain restrictions with any brokers.

Anything to be careful?

XTrade has been active since 2007 and its stable operation has been continuing its financial service for a long time.

One thing you need to be careful is that the broker restricts several trading methods on its trading platform.

Please read carefully the terms and conditions provided by XTrade and follow the rules set by the broker, otherwise XTrade may take necessarily actions to profits made on unauthorized activity.

Other than that, XTrade is strongly recommended broker for CFD traders.

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