Suspicious
Xtrade
Regulatory & Licensing Information:
-
- Regulatory Authorities:
- Cyprus Securities and Exchange Commission (CySEC)
- International Financial Services Commission (IFSC)
- License Numbers:
- CySEC: 108/10
- IFSC: 000281/20
- Status: Active
- Regulatory Authorities:
Verification:
- Broker's Claims: Xtrade asserts that it is authorized and regulated by CySEC in Europe and complies with IFSC regulations for its international services.
- Verified Information: Independent reviews confirm Xtrade's regulatory status with these authorities. However, it's important to note that the IFSC is considered an offshore regulator, which may not provide the same level of oversight as top-tier regulatory authorities.
Regulatory Warnings:
- Issuing Body: BrokersVisionary
- Date of Warning: November 2024
- Details: BrokerChooser notes that Xtrade is not regulated by a top-tier regulator, advising caution due to the varying degrees of investor protection offered by different regulatory bodies.
Client Feedback
User reviews on other platforms have raised concerns about Xtrade's legitimacy, with some users labeling it as a scam. The lack of regulatory licenses and transparency in services has been highlighted as indicative of potential fraudulent activity.
Tags:
Forex Broker
Account & Cost
Trading Platforms | Proprietary WebTrader, Mobile App |
---|---|
Minimum Deposit | $250 |
Deposit Options | Bank Transfer, Credit/Debit Cards, Skrill |
Withdrawal Options | Bank Transfer, Credit/Debit Cards, Skrill |
Max Leverage | Up to 1:400 |
Minimum Trade Volume | 0.01 |
Margin Call Level | Not specified |
Stop Out Level | Not specified |
Commission | NA |
Spread Type | Fixed, starting from 5 pips on major currency pairs |
Account Currencies | USD, EUR, GBP, JPY, CAD, NZD, AUD, CHF, KRW |
Trading Instruments | Forex pairs, Commodities, Indices, Cryptocurrencies |
Special Promotions | Welcome bonus up to 60% |
Additional Features | Access to educational resources, daily video market reviews |
Customer Support | 24/5 via email and live chat |
Islamic | ✘ |
EA | ✘ |
Hedging | ✘ |
Scalping | ✘ |
NBP | ✔ |
Trading Platforms | Proprietary WebTrader, Mobile App |
---|---|
Minimum Deposit | $1,000 |
Deposit Options | Bank Transfer, Credit/Debit Cards, Skrill |
Withdrawal Options | Bank Transfer, Credit/Debit Cards, Skrill |
Max Leverage | Up to 1:400 |
Minimum Trade Volume | 0.01 |
Margin Call Level | Not specified |
Stop Out Level | Not specified |
Commission | NA |
Spread Type | Fixed, starting from 5 pips on major currency pairs |
Account Currencies | USD, EUR, GBP, JPY, CAD, NZD, AUD, CHF, KRW |
Trading Instruments | Forex pairs, Commodities, Indices, Cryptocurrencies |
Special Promotions | Personal account manager, premium daily analysis, exclusive updates |
Additional Features | Welcome bonus up to 77% |
Customer Support | 24/5 via email and live chat |
Islamic | ✔ |
EA | ✔ |
Hedging | ✔ |
Scalping | ✔ |
NBP | ✔ |
Trading Platforms | Proprietary WebTrader, Mobile App |
---|---|
Minimum Deposit | $5,000 |
Deposit Options | Bank Transfer, Credit/Debit Cards, Skrill |
Withdrawal Options | Bank Transfer, Credit/Debit Cards, Skrill |
Max Leverage | Up to 1:400 |
Minimum Trade Volume | 0.01 |
Margin Call Level | Not specified |
Stop Out Level | Not specified |
Commission | NA |
Spread Type | Fixed, starting from 5 pips on major currency pairs |
Account Currencies | USD, EUR, GBP, JPY, CAD, NZD, AUD, CHF, KRW |
Trading Instruments | Forex pairs, Commodities, Indices, Cryptocurrencies |
Special Promotions | Welcome bonus up to 88% |
Additional Features | Professional account manager, VIP daily analysis, priority withdrawals |
Customer Support | 24/5 via email and live chat |
Islamic | ✘ |
EA | ✘ |
Hedging | ✘ |
Scalping | ✘ |
NBP | ✔ |
Trading Platforms | Proprietary WebTrader, Mobile App |
---|---|
Minimum Deposit | $20,000 |
Deposit Options | Bank Transfer, Credit/Debit Cards, Skrill |
Withdrawal Options | Bank Transfer, Credit/Debit Cards, Skrill |
Max Leverage | Up to 1:400 |
Minimum Trade Volume | 0.01 |
Margin Call Level | Not specified |
Stop Out Level | Not specified |
Commission | NA |
Spread Type | Fixed, starting from 5 pips on major currency pairs |
Account Currencies | USD, EUR, GBP, JPY, CAD, NZD, AUD, CHF, KRW |
Trading Instruments | Forex pairs, Commodities, Indices, Cryptocurrencies |
Special Promotions | Welcome bonus up to 100% |
Additional Features | Senior account manager, VIP customer support, invitations to exclusive events |
Customer Support | 24/5 via email and live chat |
Islamic | ✘ |
EA | ✘ |
Hedging | ✘ |
Scalping | ✘ |
NBP | ✔ |
PRADEEP KUMAR DASH
Very Good Broker