Xtrade [2021: Review]: A Broker With A Complete Range

August 18, 2020
Brokers
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Xtrade started its brokerage services in 2003. The broker offers 4 different types of accounts for different types of users, for instance, if you are a beginner you could get started with a Standard Account and if you are a pro you could go towards the Premium Account that has lower forex spreads among other benefits. Xtrade offers various assets such as stocks, forex, commodities, bonds, ETF’s and crypto. The broker also has plenty of deposit and withdrawal options via wire transfers, credit cards & e-wallets. With a good variety of stocks, stock indices & bonds, Xtrade is a good way to trade in these assets. Click the link below to join now

On the other hand, if you are a beginner and looking for a broker that’ll take you by the hand and will be with you in every step of your trading journey, consider Capital.com. Capital.com has a lot of educational content on learning how to trade different assets, assessing market conditions and understanding risk. Capital.com also has no deposit, withdrawal or inactivity fees associated with it and some really good spread rates. Additionally, Capital.com has more asset options than Xtrade offering more than 1,700 stocks and more than 20 ETFs. Click the link below to join Capital.com if you’re looking for a broker that offers honest spreads, a really good variety of assets and educates you along your journey to becoming a trading hero.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with Xtrade and scored our findings on a 10-point scale across 10 distinct categories.
 XtradeCapital.com
1 - Fees710
2 - Signup Process910
3 - Minimum Deposit810
4 - Ease of Use710
5 - Deposit & Withdrawal Options1010
6 - Customer Support710
7 - Asset Classes810
8 - Referral Program 01
9 - Demo Account & Educational Resources710
10 - Safety & Regulation810
TOTAL7191

What is XTrade?

Xtrade came into its inception in 2003 in Limassol, Cyprus, where it is regulated by CySEC. The broker has since then enhanced its reputation as a broker that offers a lot of assets to its users compared to many other brokers in the market. It currently operates in over 140 countries providing consumers all over the world with a complete range of securities that they can trade. These countries are:

AlbaniaAlgeriaAndorraAntiguaBarbuda
ArmeniaAustraliaAustriaAzerbaijanBahamas
BahrainBangladeshBarbadosBelarusBelgium
BeninBhutanBoliviaBosniaBelize
HerzegovinaBotswanaBrazilBruneiBulgaria
Burkina FasoCape VerdeCameroonUAECentral African Republic
ChileChinaColombiaComorosCosta Rica
CroatiaCubaCyprusCzechiaCzech Republlic
DenmarkDjiboutiDominicaDominicanEcuador
EcuadorEl SalvadorEswatiniFinlandGabon
EgyptEstoniaFijiFranceGambia
GeorgiaHondurasJapanLatviaMadagascar
GermanyHungaryJordanLebanonMalawi
GhanaIcelandKazakhstanLesothoMalaysia
GreeceIndiaKenyaLiberiaMaldives
GrenadaIndonesiaKiribatiLiechtensteinMali
GuatemalaIrelandKuwaitLithuaniaMalta
GuineaItalyKyrgyzstanLuxembourgMarshall Islands
GuyanaJamaicaLaosMacauMauritania
MexicoMyanmarNew ZealandNicaraguaParaguay
MicronesiaNamibiaPalauNigerPeru
MoldovaNauruPalestineNigeriaPhilippines
MonacoNepalStateNorthPoland
MongoliaNetherlandsPanamaMacedoniaPortugal
MontenegroRawandaPapuaNorwayQatar
MoroccoSt KittsSaint LuciaOmanRomania
MozambiqueSamoaSaint VincentPakistanRussia
GrenadinesSan MorinoSierra LeoneSoloman IslandsSaudi Arabia
SerbiaSenegalSeychellesSouth AfricaSouth Korea
Sri lankaSpainSlovaniaSlovakiaMacedonia
SingaporeNicaraguaNigerNigeriaTunisia
SurinameTajikistanVanatuUzbekistanTurkey
SwedenTanzaniaVietnamTaiwanTuvalu
SwitzerlandThailandUkraineUgandaZambia
ZambabweZambia   

If you are someone in Africa or Asia and are looking for a good broker, do check out IQ Option and easyMarkets as well, as these brokers cover a lot of African and Asian nations and offer some decent value for traders across regions. We also recommend you to have a look at CMC Markets as it is also one of the strongest brokers in our database and covers a lot of African and Asian nations. Many of our brokers in Southern African and far east countries like South Africa, Zimbabwe and Indonesia have tried these brokers and given us positive feedback.

Xtrade Pros & Cons

ProsCons
Offer a broad range of assetsHigh Inactivity fees
Accessible in over 140 countriesLack of in-depth educational sources
Decent customer serviceHigh deposit fees for different account types
Quick account verification process 

The broker offers a diverse range of assets like stocks, commodities, crypto and indices for users. Moreover, it has services in over 140 countries which is something amazing for investors looking to use the Xtrade platform for making their trades. The account verification process is also good and quick which means that you can get started with trading right away.

Some of the cons for the broker are high inactivity fees, lack of in-depth educational resources and high deposit fees. These can be a bit annoying for beginners or someone looking to get started with trading.

Trading Hours

The market trading hours for the assets supported by XTrade are 21:00 GMT Sunday to 21:00 GMT Friday during daylight saving and 22:00 GMT Sunday to 22:00 GMT Friday during winter months. Some assets may have more limited trading hours, the details of which can be read on the broker’s website’s CFD information list.

Account Types

Xtrade offers 4 account types suited for different types of users. Let’s have a look at the following table to see the main features of each account before dissecting them further

Standard AccountPremium AccountPlatinum AccountVIP Account
Desktop & Mobile Trading PlatformDesktop & Mobile Trading PlatformDesktop & Mobile Trading PlatformDesktop & Mobile Trading Platform
Demo  AccountDemo  AccountDemo  AccountDemo  Account
Dedicated Account ManagerDedicated Account ManagerDedicated Account Manager
–  Educational Videos & tutorialsEducational Videos & tutorialsEducational Videos & tutorials
–    Reduced SpreadsReduced SpreadsReduced Spreads

The Xtrade Standard Account

The standard account is avialable on mobile & desktop trading platforms like the other account types and it also has access to a demo account. However, a point to be noted is that it does not have access to educational resources which is a bit weird because Standard Accounts are usualy for beginners who should have access to educational resources.

The Xtrade Premium Account, Platinum Account & VIP Account

All of these account types have similar features such as educational resources, a dedicated account manager and lower spreads associated with them. Obviously the VIP account has more flexibility in-terms of the lowest spreads and more exclusivity.

Leverage

Leverage rates can vary up to a maximum of 1:400. The leverage rates for indices have a range between 1:20 to 1:200, commodities up to 1:10, forex pairs can be leveraged between 1:50 and 1:400 and stocks up to 1:5. Retail traders in EU-regulated markets, such as Germany, are capped at a leverage of 1:30, as per ESMA regulations.

Word Of Caution For Leverage

Leverage allows you to magnify your profits by trading with larger amounts that you can actually afford to invest. However, incase your trades do not pan out well you can also stand to lose as much as you could have made with a good deal hence, leverage can also magnify your losses aswell. Many times irresponsible trading can lead individuals to lose much more than they could have made by the use of leverage. So for all leverage-based trades, we recommend that you do your due diligence and ensure that you make informed decisions.

Word of Caution On CFD’s

Dealing with CFD’s is very risky because you are trying to predict the price of an underlying asset. Usually, 70% of consumers lose money when they invest in CFDs with different brokers. Hence, you should try and only invest in CFDs when you have good knowledge of how CFD’s work. Now let’s have a quick look at some pros and cons of using this broker.

Here’s a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.

#1 Xtrade Fees

Fees is an important criteria considered by many of our readers when deciding to go for a broker as their broker of choice or not. Let’s discover the value that Xtrade offers here and whether it provides good value for traders or not.

Non Trading Fees

These fees are related to activities that are not directly linked with trading. Such as deposit fee, withdrawal fee, inactivity fee and membership fee. These can be quite annoying at times for users hence, the lesser these are the better it is for users and the more value a broker offers.

Xtrade Deposit & Withdrawal Fees

Xtrade doesn’t charge deposit and withdrawal fees. This is a good sign because often brokers have withdrawal fees associated with them and no deposit fees. This can often be confusing for users because they do not have fee for depositing their funds but they have to pay to withdraw their own money. So Xtrade does a good job in this regard with no unpleasant surprises for anyone.

Trading Fees

These are often associated with activities related to trading. Trading fees include commissions and spreads associated with trading different asset classes. Let’s discover the trading fees associated with the broker to see the kind of value provided for different types of users.

Xtrade Inactivity Fees & Dormancy Fees

There is an inactivity fee of $50 that is applicable after 3 months of inactivity. This inactivity fee is quite high, considering that many brokers do not charge an inactivity fee at all. Xtrade also has a dormancy fee associated with it. The dormancy fee is applicable after 1 year of inactivity and it is equivalent to $100 a month which is insane.

A couple of good brokers that do not charge any inactivity fees are HotForex & Capital.com. Do check out our reviews on these 2 brokers and particularly Capital.com as they not only do not charge inactivity fees but also provide some really good value.

Xtrade Forex Spreads

The forex spreads are generally expensive with Xtrade, however, they provide some decent value at times. The table below illustrates some of the major pairs that are traded at Xtrade and the kind of spreads that you can expect to be associated with each pair.

Forex PairAverage Spreads
EUR/USD1.8
GBP/USD2.7
USD/JPY2.5
NZD/USD2.5
EUR/GBP4.0
USD/CHF5.5

The EUR/USD, USD/CHF & GBP/USD rates are quite expensive as you can get all these pairs under 1 pip at brokers like Tickmill. However, the NZD/USD & USD/JPY pairs offer some decent value as these pairs can cost up to 4 pips with different brokers. The USD/CHF pair can also be quite expensive among the major currency pairs in Xtrade. The USD/CHF pair can often be found around 4 pips with other brokers like Hotforex. A key point to be noted here in the forex offerings is that you have to do research before investing because some pairs offer good value for money whereas others can be quite expensive. Hence, in totality mixed value is being offered for users and they need to do due diligence to make smart decisions.

How We Rank Fees

At Yore Oyster, we rank fees based on both trading and non-trading fees. Non Trading fees consist of deposit, withdrawal and inactivity fees. The commissions and spreads associated with each asset type are also built in the score to determine the overall value.

Final Verdict Fees

The expensive forex spreads for particular forex pairs can be a bit of an issue sometimes. Moreover, the inactivity fees can also be a bit irritating for you incase this isn’t the broker of your choice and you forget to withdraw your finds completely and end up losing them in lieu of inactivity fees. The slightly expensive forex spreads coupled with inactivity fees mean that the broker scores a 7 rather than a 9 or a 10.

Xtrade Fees Score: 7/10

#2 Xtrade Signup Process

Xtrade has a quick signup procedure. You can register via the broker’s website within 10 minutes. However, it takes a few hours to completely verify your account, in most cases taking up to a day. Even so, sometimes the process is also completed within one business day, which is great. It’s important to note that Xtrade has no registration fees associated with signing up and you’re not allowed to open multiple accounts.

ID Documents

  • Valid passport
  • Valid photo driving licence
  • Valid national ID card

Proof Of Residence Documents

  • Bank statement in your name posted to your residential address (no online statements)
  • Mortgage statements in your name
  • Utility bills. All proof of residence documents must be dated within the last three months.

The documents required for signing up with the broker are pretty standard and require nothing too special. It offers some really good value for users because it helps the broker ensure that the investors are legit and these are cocmmon documents that most people have so signing up shouldnt be much of an issue.

How We Rank The Signup Procedue

We ranked the signup procedure based on how quick and easy it is to open an account and we base our score on the following criteria:

  • The speed with which the documents can be uploaded
  • Number of documents required
  • The time the verification process takes

The easier an account opening process is without unnecessary checks the higher the score is for this dimension.

Final Verict Xtrade Fess

The fact that the account verification process takes a maximum of 1 business day but can also take less, means that the broker only loses a single point in this dimension, and that’s just because there are brokers like Capital.com that allow you to get started the very same day, sometimes in less than an hour.

Xtrade Signup Process Score: 9/10

#3 Xtrade Minimum Initial Deposit

The minimum initial deposit varies for different types of accounts, as you can see in the following table:

Account TypeMinimum Initial Deposit
Standard Account$250
Premium Account$500
Platinum Account$750
VIP Account$1,000

As is usually the case, the lowest minimum amount is for the Standard Account which is $250. This is not too much to get started with, but still, it can be a slightly inaccessible amount for people in developing countries or for students or individuals without a job looking to get started with trading or testing out the platform.

The premium and platinum accounts though offer good value and the minimum deposit for these account types is not that much compared to many of the other brokers in these categories. The VIP account of most brokers can have a minimum initial deposit of thousands of dollars but Xtrade does a good job of keeping it to $1,000. This means that you can avail all the best features that the broker has to offer for a minimum initial deposit of $1,000. If you are a professional trader looking to use the Xtrade platform then the VIP account offers amazing value for this dimension as you do not have to deposit a lot to get a taste of the best the broker has to offer.

How We Rank Minimum Initial Deposit

The formula here is simple, the lower the minimum initial deposit the higher the score. We at Yore Oyster believe that everyone should be able to try out a broker without having to deposit thousands of dollars to get the opportunity to do so.

The Scoring Threshold For Minimum Initial Deposit

If a broker has a requirement for upto $100, the score here is a perfect 10, as most people can afford to invest. However, if a broker charges upto $500, it still scores a healthy 8 because most of our readers believe they can invest $500 to try out a broker’s services. However, as the minimum initial deposit requirements rise above $500 most of our readers feel a bit hesitant to try out a broker due to which the score decreases.

Final Verdict Xtrade Minimum Initial Deposit

Because of the sightly high minimum initial deposit requirements for the Standard account, the platform loses a couple of points and scores an 8 rather than a perfect 10 for this dimension because not all beginners may have $250 to get started with trading.

Xtrade Minimum Initial Deposit Score: 8/10

#4 Xtrade Ease of Use

Xtrade is available on 3 platforms namely, desktop, mobile and tablet. Xtrade does a good job of keeping the interface and features consistent across different platforms. This is a good feature because often brokers have varying interfaces for different platforms which harms the consistency of the user experience across platforms, so kudos to Xtrade in this regard for keeping a decent & intuitive interface across all three platforms. Let’s dig a little deeper. The broker also offers the famous Meta Trader 4 platform which we will cover after its own proprietary platform.

Xtrade WebTrader

The is Xtrade’s browser-based web platform that offers a rich set of features and trading tools to ensure an intuitive and comfortable user experience. You can easily access different market analyses available and speedily execute trades and orders. You do not need to download Xtrade’s WebTrader platform and you can access it through your browser.

Xtrade Mobile Trading App

Xtrade has a decent multi-asset trading application that includes real-time charting with different technical indicators and trading tools.
You get alerts & notifications regarding the prices of your different assets in your portfolio. Moreover, you also have access to charting tools as well, which are also available on other platforms.

Xtrade Desktop App

The desktop has similar functionality to the mobile and web trading platform offered by the broker. This offers some really good value for users as they do not have to force themselves to use any particular platform they do not want to use. The application offers decent customisability compared to other brokerage desktop apps and can help one in having a decent and enjoyable trading experience.

Xtrade Tablet Trading App

Xtrade also has a trading platform for your tablet whereby you can access your graphical interface, conduct quick transactions and deposit your funds. You can also access your full activity report on the trading application. Finally, the tablet trading app also offers alerts and notifications like the mobile application that allow you to stay updated with your asset prices in your portfolio.

Asset Dashboard

The asset dashboard is where you can access the trends related to asset prices. It is pretty simple and less complicated than some of the dashboards of other brokers. You also get a chance to buy and sell instantaneously on the dashboard page which can be helpful for traders in case they want to make quick trades because they do not have to switch between different pages.

Xtrade

Meta Trader 4 Platform

One of the most commonly used trading platforms, Meta Trader 4 is used by hundreds of brokers around the world. The interface of Meta Trader 4 is not very user-friendly in terms of graphics as it has outdated graphics that need to be revamped. However, in terms of having comprehensive charting tools and statistical tools, Meta Trader completely fits the bill. It is the reason perhaps that the platform is home to hundreds of brokers because it covers all the basics and provides you with a solid foundation in trading. As a platform, we think it’s an ideal platform for individuals who are pro traders and have been trading for some time, though it can be a little complicated and daunting for beginners.

MT4 Web & Desktop Trading Platform

The Meta Trader 4 platform provided has a lot of detail in terms of statistical metrics that users can use. A drawback is that the graphics of the applications are a bit outdated and something that the platform can and perhaps should improve upon. The Meta Trader 4 platform can be a bit daunting for beginners to get started with but be a bit easier for professional traders. Professional traders may be used to it because of its pervasiveness in the market and the fact that they may have used it in the past.

MT4 Mobile Trading Platform

Offers a lot of options in terms of customizability. For instance, you can choose your own metrics to evaluate your assets, design your own dashboards. Moreover, you can also set up alerts for prices and different market movements on your mobile.

MT4 Platform Languages

The Meta Trader 4 platform is a global platform that supports hundreds of online brokers. A good feature of the platform is that it has a lot of languages that cover most of the people in the world. The Meta Trader 4 platform is available in:

ArabicGreekPersianGerman
BulgarianHebrewPolishMongolian
ChineseHindiPortugueseThai
CroatianHungarianRomanianTraditional Chinese
CzechIndonesianRussianTurkish
DanishItalianSerbianUkrainian
DutchJapaneseSlovakUzbek
EnglishKoreanSlovenianVietnamese
EstonianLatvianSpanish
FinnishLithuanianSwedish
FrenchMalayTajik

As you can see, the platform covers many of the commonly spoken languages around the world. This offers some really good value for users across the world who want to trade in their own language.

Charting Tools

The charting tools offer decent value in terms of giving a trend of past price fluctuations and the variances associated with an asset. However, the interface for charting does seem like something out of a 1990’s Sega Game and Meta Trader could do much to improve it as it is one of the most widely used trading platforms in the world. They could do a better job of improving and enhancing the user experience and useability of the platform.

Multibank

How We Rank Ease Of Use

Ease of use comprises of the overall user experience provided by a platform. We rank this dimension according to the following criteria:

  • Intuitive Interface Across All Platforms
  • Customizability Options Available To You
  • Advanced Research Tools For Analysis

Having an intuitive interface was ranked as the number one factor by most of our users in considering a broker with a good interface. The options available for customizing dashboards and statistical analysis were also very important factors according to our audience.

Final Verdict

The Xtrade platform has a decent user interface that can help you trade with a good experience. However, the lack of advanced charting tools, coupled with the simplistic dashboard means that the broker loses a couple of points and only scores a 7 in this category.

Xtrade Ease of Use Score: 7/10

#5 Deposit & Withdrawal Options

Deposit Options

There are plenty of options through which you can deposit your funds. It is always good for a broker to have multiple deposit options to provide users with the flexibility they need. Some of the options offered are as below:

  • Wire Transfer
  •  Credit/Debit Cards such as Visa & Mastercard
  • E-Wallets such as Skrill, Neteller & Paypal

Withdrawal Options

There are plenty of options through which you can withdraw your funds. In fact all the options you can use to deposit funds can also be used to withdraw funds. It is always good for a broker to have multiple withdrawal options to provide users with the flexibility they need. Some of the options offered are as below:

  • Wire Transfer
  •  Credit/Debit Cards such as Visa & Mastercard
  • E-Wallets such as Skrill, Neteller & Paypal

While Xtrade offers plenty of options for withdrawal and depositing of funds, an issue to be noted is that you must use the same method for withdrawal of funds that you used for depositing funds. Even so, that is almost an industry standard, especially with well-regulated brokers.

How We Rank Deposit & Withdrawal Options

Having a lot of Deposit & Withdrawal options gives you the flexibility to deposit and withdraw fudns in the manner that best fits your needs. We rank this dimension according to the following criteria:

  • Ways in which you can deposit your funds
  • Ways in which you can withdraw your funds
  • Number of options within different Deposit and Withdrawal Types

We look at 3 main options that a broker needs to offer for a perfect score as these are the most commonly used by brokers:

  • Credit/Debit Cards
  • Bank Transfer & Wire Transfer
  • E-Wallets such as Paypal, Skrill and WebMoney

Final Verdict On XTrade Deposit & Withdrawal Options

The broker offers alot of options to deposit and withdraw funds. This provides users with a lot of flexibility to use whatever method they feel comfortable using for withdrawing or depositing their funds. Especially because of the fact that all deposit and withdrawal methods may not be available in a particular country. Hence, the broker scores a 10 here without any issues as it allows you to use whatever method you want to use for withdrawing or depositing your funds.

Xtrade Deposit & Withdrawal Options Score: 10/10

#6 Customer Support

You can get customer support through various platforms with Xtrade. Some of the options that are available include:

Pros Cons
Quick Live chatMay not get relevant answers via live chat
Detailed & Quick Response via Phone24/5 rather than 24/7
Detailed Response On EmailSlow Email Response

The live chat and phone responses can be quite helpful. Chat and phone responses usually do not take too long aswell. Moreover, the emails tend too be quite detailed and you can get a detailed response to bigger problems via email aswell.

The customer support is not available throughout the week which can be a bit of an issue sometimes in case you run into a problem on the weekend. Some consumers have also complained the sometimes the live chat does not lead to relevant answers all the time. Moreover, the broker’s email response can be quite slow via email and can even take days at times.

Final Verdict XTrade Customer Service

Customer support is available 24/5 during weekdays, which is pretty decent and more of the industry norm followed by most brokers but having 24/7 customer support can be very helpful and many brokers got the extra mile in doing so. Moreover, email support is slightly slow and tends to take around 1 day to answer. The broker does not offer customer service on weekends which means that you cannot get any help on weekends in case you run into an issue with your account. Hence, the broker scores a 7 on this dimension rather than a 9 or a 10.

Xtrade Customer Support Score: 7/10

#7 Asset Classes

Xtrade has one of the most diverse portfolios in the broker industry however, the broker can try to offer more options within each asset type. Let’s examine to see what they offer:

Asset ClassesNumber of Options
Stock Indices20 +
Commodities20 +
Forex40 +
Crypto10 +
Bonds5
ETFs5
Stocks100+

Xtrade offers everything from commodities to forex, crypto, bonds and ETFs. This allows you to build a really diversified and solid portfolio because it gives you a lot of different options to choose from. Here are some of the specific assets you can trade with:

Xtrade Crypto

Let’s examine the crypto options offered by Xtrade for its users. Xtrade offers 10 cryptos such as:

  • Bitcoin (USD)
  • Ether (USD)
  • Litecoin (USD)
  • Ripple (USD)
  • Bitcoin Cash (USD)
  • Neo
  • Zcash
  • Monero

This is a decent range of crypto assets to choose from, especially considering that many brokers only offer the main 3 cryptos in the market. This provides a breath of fresh air for crypto traders. Do note that dealing with cryptos can be a bit risky because of the volatile nature of the crypto market, so trading a crypto index could help in hedging that risk. While Xtrade doesn’t offer one now, perhaps it can offer one in the future.

Xtrade Commodities

Xtrade offers some common types of commodities which include:

Gold
Silver
Brent Crude
US Light Crude
Natural Gas

Crude oil, natural gas and gold are offered which are popular commodities to trade. This can help in making a diversified portfolio providing some decent value to users. We at Yoreoyster highly recommend that you do not invest in these markets without thorough research. For instance, the oil prices in the past have fluctuated quite a lot and this can completely erode ill-timed investments. Even with metals, there can be a lot of speculation hence, we recommend that you take care before investing in these.

Stock Indices

More than 20 indices are offered by Xtrade from different countries from around the world, offering plenty of options for users. Some of the most important indices offered are as below:

Nikkei 225
HK50
US 500
FTSE 100
Australia 200
Germany 30
Nasdaq

The indices Xtrade offers cover multiple continents including Europe, America, Oceania, and Asia. You can trade in indices from Hong Kong, Australia, Germany & the USA, to name a few. This gives users a lot of variety, making Xtrade’s some of the most diverse portfolios for trading stock indices.

Stocks

With more than 100 stocks available from American and European companies, Xtrade offers you plenty of options for you to invest in stocks of tech, pharma or agricultural companies. Some popular stocks offered include:

  • Apple
  • AT&T
  • Amex
  • Amazon
  • Alibaba
  • Berkshire Hathaway
  • Pfizer
  • Procter & Gamble
  • Walmart
  • Exxon
  • Johnson
  • Spotify
  • Walt Disney
  • Zoom

Bonds & ETFs

Xtrade also offers US Treasury bonds and securities for both short-term and long-term investors. Bonds are often a good way for hedging against risk. Xtrade allows you to do so by offering US government bonds. However, a downside of investing in government bonds is that the rate of return can be quite low.

Moreover, Xtrade also offers ETFs, a couple of which are based on Brazilian companies which is a rarity and can allow you to invest in the emerging markets, further diversifying your portfolio. ETFs are usually a good way of hedging risk aswell but we recommend that you do your research on investing in any ETF because for particular companies and consortiums it can be a bit risky aswell.

How We Rank Asset Classes

The criteria for ranking asset classes is pretty simple and as follows:

  • Number Of Asset Classes Offered, such as crypto, forex, stocks, ETFs and bonds.
  • Options Provided within each asset class

The more asset classes a broker provides, the more the chance to diversify your portfolio. Diversified portfolios often help in mitigating risk and long term profitability. This is the reason due to whch we give higher ranking and weightage to brokers who give you the option to hedge your risk.

Final Verdict XTrade Asset Classes

Xtrade is one of the few brokers that score a perfect 10 in the asset classes category. Because the broker not only covers most of the asset classes but also provides a decent amount of options within each asset type. We believe that investing in different asset classes can help you diversify and hedge risk. Xtrade allows you to do so because of the multiple options that they provide for users to build truly diversified portfolios.

Xtrade

Xtrade Asset Classes Score: 10/10

#8 Referral Program

Referral programs play an important role in making trading fun because you can use the platform with friends and learn more. However, there is no active referral program for Xtrade for individual users. This reduces the chance that you have to earn more funds by referring more friends.

How We Rank Referral Programs

The more rewards a broker gives the higher the score for this dimension. Rewards are a good way for encouraging beginners to start trading with friends and family making the experience enjoyable, due to which we encourage brokers to offer more and more rewards. We also take into account how difficult it is to attain these rewards.

Final Verdict On Xtrade Referral Program

The broker does not have a formal referral program as of yet. Referral programs can help individuals to trade socially and grow in skill. Since the broker does not offer such as opportunity in this point in time means that is scores a 0 here.

Xtrade Referral Program Score: 0/10

#9 Xtrade Demo Account & Educational Resources

Having a good demo account and educational resources to practice trading skills is beneficial for any trader, no matter how experienced they may be. Xtrade offers a demo account the salients of which are discussed in the section below.

Xtrade Demo Account

Demo accounts are a great way of training individuals as you can trade with fake money and test out your skills. A good feature of the demo account at Xtrade is that you can test out your strategies without holding back, for an unlimited time.

Xtrade Educational Resources

Xtrade offers some basic educational resources to help you get started in the world of trading. They are not very varied and don’t go in too deep, and the include:

  • Video tutorials on the basics of trading & trading strategies
  • Glossary of key terms

The resources provided are not very detailed to train you extensively in trading, so if you already know the basics, Xtrade won’t help you grow. The tutorial videos just explain to users how to use the platform and how you can trade different types of assets, nothing that a couple of Youtube videos cannot teach you.

How We Rank Demo Account & Educational Resources

The purpose of a demo account and educational resources is to train users to make informed decisions. Our crtiteria marks every broker on the quality of training that they provide beginners with. Our criteria is as follows.

  • The demo account should not have a time limit or a paper trading limit to get a perfect score
  • Educational Resources should include tutorials, webinars and online courses to ensure that anyone new to trading can quickly learn and trade profitably

Final Verdict Xtrade Educational Resources

Xtrade offers basic educational resources to help one get started wtih the platform however, it lacks detailed educational content to train newbies to become expert traders. However, Xtrade does have an amazing demo account that can help people train on how to trade efficientyl and effectively. The basic educational sources are somewhat offset by a great demo account in this category, so the score here is a 7.

Xtrade Demo Account & Educational Resources Score: 7/10

#10 Safety & Regulation

Xtrade is regulated by authorities in Cyprus. It augers well for users that the broker is regulated by a tier-1 regulator like CySEC because it is a strong regulator and one that has regulated a lot of international brokers.

The broker also has 256 bit SSL encryption details which can be really helpful in keeping your account details and trade safe from others. Sometimes brokerage applications can lack encryption but the fact that XTrade does that means that the broker takes cybersecurity seriously which bodes well for investors using the platform or looking to use it.

How We Rank Safety & Regulation

If a broker is regulated by a tier 1 broker like the Financial Conduct Authority of UK (FCA), Securities Exchange Commission (SEC), or Australia Securities & Exchange Commission (ASIC) it scores a perfect score. However, if it is regulated from a tier-2 broker like the Cyprus Securities & Exchange it scores an 8. The score for most tier 3 brokers is a 6 and the score for no regulation is 0. Regulation is an important factor for brokers as non-regulated entities can engage in harmful practices for investors that can be detrimental for them.

Is Xtrade Safe?

The score for this dimension is an 8 rather than a perfect 10 because it’s only regulated by one single institution and because there are stronger regulators like the UK’s FCA and USA’s SEC.

Xtrade Safety & Regulation Score: 8/10

While researching 100+ of the world’s top brokers, we’ve noticed what works and what doesn’t from the customer’s point of view. That’s why our final test for any broker is to compare it to Capital.com, which scores 91/100 points across the 10 categories mentioned in this review.

Xtrade vs. Capital.com

Xtrade has a really good asset portfolio, a good demo account and some really good customer service. However, there are a few dimensions where our highest ranked broker, Capital.com, is better than Xtrade. Let’s have a look

More Asset Options

When it comes to trading options the more options a broker offers, the better it is. While both offer the same types of assets, Capital.com simply gives you a lot more options in each class. It offers many types of bonds, more than 20 commodities and 1,700 stocks from all around the world.

A Better Fee Structure

Capital.com also has a very competitive fee structure and they do not charge withdrawal fees or inactivity fees as Xtrade does. The spreads are generally tighter and there are no commissions and hidden fees associated with trading.

Stronger Educational Resources

Capital.com is like a hub for learning to trade. Often brokers offer a few basic educational resources for traders but Capital.com does a comprehensive job in this regard and walks you by the hand in the journey for you to become an experienced and successful trader. Some of the resources offered include:

  • Tutorial videos on using the platform
  • Educational videos on trading different assets
  • Webinars
  • Educational articles

The resources offered to users start by teaching you how the platform works and then with webinars and articles Capital.com keeps you updated with what’s happening in the market. Capital.com also offers asset trading training guides.

Training Guides

  • CFD training guides
  • Commodities training guides
  • Indices trading guides
  • Trading psychology guides
  • Shares trading guides
  • Forex trading guides

Capital.com has you covered if you want to start trading an asset that you have not traded before. They also offer 5 courses that are aimed at training beginners and refreshing the knowledge of experienced traders.

Capital.com Online Courses

  • Introduction to financial markets
  • ABC of derivatives
  • Financial instruments
  • Derivatives and risks of trading
  • What are leverage and margin

The online courses are designed for beginners but anyone can benefit from them in learning the basics and good practices and knowledge of the industry.

Signup for the best broker in the industry by clicking the Join Now link below

Related: If you want to learn more about this broker, you can read this excellent review of Capital.com.

Xtrade: In Summary

Xtrade offers a lot of asset options for its users. It is definitely one of the better brokers in our database in terms of offering plenty of asset options for users. The broker has a quick signup process, decent customer service and plenty of withdrawal and deposit options that have no fees associated with them. Xtrade is a decent option for anyone looking to trade in diverse portfolios. If you have prior trading knowledge you should signup now and enjoy trading with a good and trusted broker.

However, Capital.com is a much better broker with no inactivity fees at all. You can learn to trade various different assets using the educational resources available on the platform. Moreover, Capital.com also offers many more assets like a wider variety of stocks and commodities in addition to the assets offered by Xtrade. Join Capital.com now to trade with a holistic platform and become a champion trader.

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