Xtrade Review 2024: Is This Forex Trading Broker Scam or Legit?

Overall, BingX’s trading fees are highly competitive and rank among the lowest in the industry, on par with top exchanges like Binance and Bybit. Founded in 2018 in Singapore, BingX is a cryptocurrency exchange operating in over 185 countries. With a daily spot trading volume exceeding $450 million, it offers a vast selection of over 860 spot tokens and 270+ futures markets.

Overall, Xtrade has several distinct features that will enable the company to cater its services to a large part of the retail trading market. On the positive side, Xtrade employs industry-standard security measures, such as segregated client funds and secure trading platforms, to protect client accounts. However, traders should always assess the broker’s reputation, regulatory framework, user reviews, and trading conditions carefully before making a decision.

1. With our Raw Spread feature, benefit from transparent and competitive pricing, ensuring direct access to market rates.
2. There are many assets, bonds, ETFs, forex pairs, cryptos, with nice conditions, leverage adjusted specifically for certain asset and so on.
3. This flexible option encourages top-tier clients and delivers on our commitment to excellence.
4. Unlike brokers such as FXTM, Forex.com, or Axi, which offer commission-based accounts alongside spread-based ones, Xtrade only offers spread-based accounts.
5. The mobile app is intuitive and easy for beginners to navigate, while the desktop platform may feel overwhelming due to its extensive advanced features.
6. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.

Robinhood UK adding Options trading (but not yet Crypto) in 2025

Trading currency pairs offers advantages such as high liquidity, 24-hour market access, and low transaction costs. Xtrade does not offer traditional investment options like stocks or mutual funds directly. Its focus is primarily on Forex trading and a variety of CFD products, which are speculative instruments. Xtrade offers a range of research tools to enhance traders’ decision-making processes, available both on its platform and website. Additionally, Xtrade has a dedicated help center with FAQs, allowing clients to find answers quickly. While overall feedback from users is generally positive, some have noted that response times can vary depending on the query and the time of day.

We encourage constructive feedback

Xtrade makes no charges for either withdrawals or deposits, but they are sometimes raised for overnight trades, and on an inactive account. You should also note that an account has to be properly verified before any withdrawals can be made. However, Xtrade holds licenses from offshore jurisdictions like the FSC in Belize and lacks broader regulatory oversight from major financial authorities. This may raise concerns for traders who prioritize a highly regulated trading environment. For those seeking a wider selection of assets, lower fees, or stricter regulatory oversight, considering other brokers with more extensive licenses and features may be a better option.

This might be a disadvantage for traders seeking more robust regulatory protection. Moreover, some traders may find that the broker lacks advanced trading tools and features offered by other brokers, limiting their trading experience. We concluded that Xtrade’s flexibility in terms of platforms, currency pairs, and available solutions is a notable advantage, making it a strong choice for traders of different sizes and experience levels. Additionally, Xtrade supports its traders with excellent customer service, $0 fees on money transactions, and widely https://traderoom.info/xtrade-forex-broker-overview/ accepted payment methods, which enhances its overall appeal. BingX’s mobile app stacks up well to competitors, serving as a capable companion to the desktop platform. While it lacks a Lite Mode, the app is intuitive and user-friendly, making it accessible for beginners whilst still catering to experienced traders with advanced trading features.

Trading with Xtrade

BingX provides one of the broadest selections of tradable assets among major exchanges, with over 860 spot tokens and more than 270 futures markets. Users can trade everything from large-cap tokens like BTC and ETH to trending and niche altcoins from the Solana and Toncoin ecosystems. BingX also offers low fees for futures trading, using the same Maker-Taker model as spot trading but with even lower percentages to accommodate larger position sizes in futures markets. BingX provides a variety of conditional order types, including advanced options like TWAP and BBO, which are rarely available on competing exchanges. These specialized order types cater primarily to expert traders, who will value their inclusion on the platform. BingX sets itself apart from the competition by offering futures trading across Forex, Indices, and Commodities.

Let’s finish up this XTrade Forex broker review with a few reasons for choosing such a big name for your Forex trading. It was licensed and regulated by CySEC to offer Contracts for Difference, and is also one of the few companies that operate in compliance with the Markets in Financial Instruments Directive (MiFID). XTrade also has a branch in Italy, regulated by CONSOB, as well as being regulated in Australia by ASIC. A well-known name for all you football lovers was brought on board in 2016, when Cristiano Ronaldo became the official ambassador. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.

1. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
2. (Note that forex values are always quoted in pairs, such as GBP/USD or USD/JPY. In every forex exchange transaction, you are simultaneously buying one (base) currency and selling another (quote currency)).
3. I found the copy trading feature to be on par with leading exchanges, offering one of the most extensive selections of expert traders.
4. However, competitors like Binance offer more advanced bots with greater functionality, including portfolio management and rebalancing features, which provide enhanced versatility for automated trading strategies.
5. The VIP Account is ideal for traders who demand the best trading conditions and additional privileges to enhance their trading efficiency.
6. Xtrade has an excellent regulatory status that is backed by more than six years of professional experience in the retail Forex trading industry.

While Xtrade provides a range of trading instruments, it is not a platform tailored for traditional investment options, such as holding long-term stock portfolios or futures. Xtrade’s minimum deposit requirement varies depending on the account type selected by the trader. Yet you should calculate and cover necessary expenses since the variety of trading instruments offers different margins and spreads. Xtrade’s diverse range of tradable assets supports multiple trading approaches, from short-term day trading to long-term investments. However, one potential drawback is that Xtrade’s focus on CFDs may not appeal to traders who prefer traditional asset ownership or more advanced trading instruments like options or futures.

You might also be interested to learn that Xtrade has its own resolution process in relation to complaints. According to my observations this is a globally renowned broker and it’s not surprising. Guys are dedicated pros and providing trading services, lmao, two decades in the business. Even some of the most renowned companies have either already gone bankrupt or just remained unclaimed.

Making the exchange ideal for traders looking to profit from early investments in upcoming tokens. In my experience, BingX’s futures trading fees are among the lowest in the industry, closely comparable to industry leaders Binance and Bybit. Funding fees are also competitive, on par with Binance, and only slightly higher in some cases. The app could benefit from TradingView integration or more customizable settings for its current indicators. Enhanced push notifications (such as alerts for spikes in trading volume or price breakouts from set channels) would also improve functionality for active traders.

Xtrade is definitely a broker we would recommend trying, so why not start by signing up for a demo account so you can decide for yourself. BingX offers some of the industry’s lowest trading fees across both spot and futures markets. However, futures funding fees stand out as noticeably higher compared to competitors like Binance. While fiat deposits are free for four supported currencies, using the Quick Buy feature with a bank card incurs significantly higher fees, making it a less ideal choice for large crypto purchases. BingX is an acceptable choice for algo traders, offering API access and support for high-frequency trading.