#xtrade legit or scam

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XTrade Review

Overview:

 The FX and CFDs broker Xtrade offers its customers only one universal account. The spreads offered are fixed and provided leverage is up to 1:400 on its self-developed web-based platform called Xtrader Pro. The Xtrade offers noteworthy trading facilities with the help of its Education Center and Xtrade Academy that facilitates video tutorials, electronic books, and other useful resources to all kinds of traders. Read further this Xtrade review to get an insight of this broker.

About Xtrade:

 The trading assets provided by Xtrade are FX pairs, many commodities, several indexes, also shares and stocks. It also provides CFDs trading on its self-developed trading platform. The head office of the Xtrade is situated on the island of Cyprus. The organization named Xtrade Europe LTD is the owner and the manager of trademark Xtrade. The Cyprus Securities and Exchange Commission, Cyprus regulates Xtrade Europe LTD.  

The operations of the Xtrade Group are also observed by Australian financial regulator ASIC, Belizian financial regulator IFSC and South African financial regulator FSB.  In addition to this, the broker also recently joined the Russian self-regulatory organization NAFD.

Also, to enhance its brand reputation the broker features famous footballer Cristiano Ronaldo as its brand ambassador. The minimum deposit required to access the basic account of the Xtrade, clients need to invest $100. This minimum deposit is according to the average minimum deposits in the current trading market. The broker facilitates fixed spreads with commission-free trade. The available spread is 2 pips on the FX pair of EUR/USD. The maximum leverage level is of 1:400 and can be treated as higher compared to the market average. This can increase the risk of loss to the invested funds.  

The Xtrade offers its clients with self-developed Xtrade Pro trading platform instead of a famous MetaTrader one. The trading platform is web-based and also supports the mobile application. It has a very simplified user-friendly interface with additional features like charting, indicators, and technical analysis. The Xtrade also features several bonuses and promotions. Readers can visit the broker's official website to know more about the bonuses and promotions as they are seasonal.  

 The payment and withdrawal processes are facilitated is by several channels such as all card types, bank transfer, and all sorts of e-wallets. The process is charge-free and can take up to 5 days to process.

Is Xtrade scam or legit?

 The broker Xtrade is regulated by CySEC of Cyprus. The offerings can fulfill the requirement of all traders. The Xtrade can be a forex scam as some complaints were observed against them and traders are advised to be cautious while trading with Xtrade.