#xtrade limassol

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XTrade Review and Tutorial

XTrade Review and Tutorial

Xtrade is CFD and CySEC-regulated forex broker. Which helps you to decide whether to open an online account for trading, this will (review) explores the platform of broker’s with mobile app, minimum deposit, payment methods and many more functionalities. XTrade Company Overview The CFD investment broker which is owned by XTrade Group Limited and is headquartered in Limassol, Cyprus. The company…

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Is XTrade One of Reliable Brokerage Platforms?

Like meeting new people, the level of trust is higher when someone reputable is pointing to reliable brokerage platforms. For this reason, many brokers tend to use a famous persona to promote their brand. We can notice the tendency that football teams or players are one of the first choices for these platforms. Why is this the case? Of course, we can only guess, but one reason could be the target audience of these "reliable" brokerage platforms. Think of it, and you can conclude that football goes side by side with predicting the match outcome. However, not all football fans are gambling, nor all traders like football. Still, if the audience of some broker is a football lover, we can connect the dots. As we are covering Xtrade, we must mention that they were hiring Christiano Ronaldo as their brand ambassador. Of course, Christiano Ronaldo is a famous and reputable player. However, some of the acts of Xtrade don't go in line with this.  Seemingly, they were using the renowned name to address the particular kind of opportunist behavior. In the following lines, you will conclude whether their behavior is opportunist or not.

Location of the Xtrade

OffersFx is a company behind Xtrade at this moment. If you are browsing from Europe, when searching for Xtrade, you will get the OfferFx website. In other territories, you will get the respective Xtrade website translated to the local language. The company is from Cyprus, which is of the best administrative offices. Besides Cyprus, they have offices in Australia, Belize, and South Africa. Seemingly, all of these regulate the work of Xtrade: Securities and Exchange Commission (CySEC) from CyprusSecurities and Investments Commission (ASIC) from AustraliaInternational Financial Services Commission (IFSC) from BelizeFinancial Services Board (FSB) from South Africa In terms of regulation, this could be a good sign. But why is this the case? Well, at the height of its career, the company was sponsoring Christiano Ronaldo and two football clubs. However, the same year, CySEC suspended the license of the Xtrade, previously XForex. Soon after, the angry customers organized the strike in Limassol, Cyprus. The company had no choice but to leave Cyprus and form Xtrade International Limited in Belize. When the dust settled, Xtrade founded OffersFx to run its business from Cyprus, again. Regardless of the present Xtrade, it seems that previous ones were not reliable brokerage platforms.

Technical Side of the Platform

The website itself is very professional and well designed. You can relatively easy navigate with a drop-down menu in the right top hand corner of the site. Following the standards, in the right down corner, you will find the webchat function. At this point, there is no option to alternate between different languages. Based on your location, you will get the website with your local language. As far as the platform goes, the only available platform their web-based platform. You won't find MT4 nor some of the mobile apps. However, they have optimized their web application, which you can use on your mobile. The interface is a charting platform that has some technical analysis tools. There are a variety of options traders for deposits and withdrawals. You can choose from credit and debit cards, wire transfer, and many different types of online wallets, including PayPal. There are no fees for withdrawals or deposits, and the withdrawals can take up to five business days to process. At the same time, there is an inactive account fee. However, we couldn't find the cost or details on this fee.

Assets and Types of Accounts

There are multiple assets to trade: - CFD's - Indices - Commodities - Stocks - Forex - ETF's, - Bonds and  - Cryptocurrencies. Similar to industry standards, there are four different account types with Xtrade. Seemingly, all previous "reliable" brokerage platforms brought a lot of experience to Xtrade. Any aspect of their solution is following the industry standards, trying to overcome the expectations. The same goes for the first type of accounts, which is the standard account. The minimum deposit for this account is $200. It seems that the only difference between this and the following accounts is the lack of personalized training. It looks like they crafted an excellent offer for novice traders. However, training and education are the most important. Otherwise, trading can resemble the gamble. On the other hand, the spreads are extremely high, with a fixed spread of five pips for EURUSD. The spread of this height is not typical for reliable brokerage platforms. Only brokers known as scams are using these spreads. The next account up is a premium account with the minimum deposit size is $1,000. In this case, you will get personalized training. Moreover, the spreads are reduced slightly, with the standard EURUSD spread being three pips. Of course, this is still not a good offer. The somewhat better offer for other assets you can get with the platinum account. The minimum deposit size is not so high, as it is $5,000. What is interesting is that the spread for the EURUSD stays the same with this account.  Finally, there is the VIP account. The minimum deposit size is $25,000. In this case, you will get the same perks as for the previous, but the EURUSD spread is two pips. Of course, this is still not great.

Education and Customer Support of Reliable Brokerage Platforms

Except for the primary account, you will get personalized training. Xtrade also provides courses, e-books, video tutorials, webinars, and a resource library.  There are a plethora of ways to get customer support. You can do it by phone, webchat, email and also by fax (I doubt many people still use this method).  Their customer support services are available 24 hours a day from Sunday 10 pm GMT to Friday at 10 pm GMT. When we tested, their webchat platform is very responsive, helping as much as possible.

Is Xtrade one of Reliable Brokerage Platforms?

The majority of customer reviews are negative towards Xtrade. Many claims are that they are scamming their customers. To refresh your memory, this is the company that had organized a revolt against it! At the same time, some reputable bodies are regulating Xtrade. It should be enough to enlist Xtrade in reliable brokerage platforms. It is because the regulatory authorities would stop Xtrade if pushing their customers to deposit more money. And it is what customer reviews claim they are doing! Like some of their previous entities, Xtrade or OffersFx might lose their license. For this reason, you should keep your eyes opened when trading with Xtrade.

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XTrade Europe LTD, founded in 2010, is an innovative international provider for Contracts for Difference (CFDs), offering a comprehensive trading environment for stocks, commodities, Forex, and indices. is owned and operated by XTrade Europe LTD Europe LTD, Limissol Cyprus and is regulated by CySec.

[reviewfxbrokers556-blog]

XTrade Europe LTD, founded in 2010, is an innovative international provider for Contracts for Difference (CFDs), offering a comprehensive trading environment for stocks, commodities, Forex, and indices. is owned and operated by XTrade Europe LTD Europe LTD, Limissol Cyprus and is regulated by CySec.

[reviewfxbrokers0009-blog]

XTrade Europe LTD, founded in 2010, is an innovative international provider for Contracts for Difference (CFDs), offering a comprehensive trading environment for stocks, commodities, Forex, and indices. is owned and operated by XTrade Europe LTD Europe LTD, Limissol Cyprus and is regulated by CySec.

[reviewfxbrokers552-blog]

XTrade Europe LTD, founded in 2010, is an innovative international provider for Contracts for Difference (CFDs), offering a comprehensive trading environment for stocks, commodities, Forex, and indices. is owned and operated by XTrade Europe LTD Europe LTD, Limissol Cyprus and is regulated by CySec.

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Review XTrade Europe LTD, founded in 2010, is an innovative international provider for Contracts for Difference (CFDs), offering a comprehensive trading environment for stocks, commodities, Forex, and indices.

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XTrade Europe LTD, founded in 2010, is an innovative international provider for Contracts for Difference (CFDs), offering a comprehensive trading environment for stocks, commodities, Forex, and indices. is owned and operated by XTrade Europe LTD Europe LTD, Limissol Cyprus and is regulated by CySec.

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Review XTrade Europe LTD, founded in 2010, is an innovative international provider for Contracts for Difference (CFDs), offering a comprehensive trading environment for stocks, commodities, Forex, and indices. is owned and operated by XTrade Europe LTD Europe LTD, Limissol Cyprus and is regulated by CySec.

[reviewfxbroker880-blog]

XTrade Europe LTD, founded in 2010, is an innovative international provider for Contracts for Difference (CFDs), offering a comprehensive trading environment for stocks, commodities, Forex, and indices. is owned and operated by XTrade Europe LTD Europe LTD, Limissol Cyprus and is regulated by CySec.

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New Post has been published on OmCik

New Post has been published on http://omcik.com/forex-brokers-eye-u-s-market-as-trump-vows-to-deregulate-reuters/

Forex brokers eye U.S. market as Trump vows to deregulate | Reuters

By Gertrude Chavez-Dreyfuss and Dion Rabouin | NEW YORK

NEW YORK Retail currency brokers are considering operating in the United States after a nearly seven-year absence, if President Donald Trump is able to carry through on his pledge to deregulate financial markets.

The prospect of lighter regulations has revived interest in the country among foreign exchange brokers such as UFX and Alpari, which cater to small and individual investors. It has also brightened the outlook for an industry that has struggled and lost market share to places with looser regulations in Asia and Europe.

“Key players in the vast retail FX market are gearing up for a hopeful re-entry,” said Paul Sirani, chief market analyst, at online currency broker Xtrade in Limassol Cyprus. He declined to identify those retail FX players.

Sirani’s observation is shared by many market participants such as Javier Paz, senior analyst at research firm Aite Group, and Meir Velenski, a long-time FX practitioner who set up his own financial consulting group.

A return to the United States could mean physically setting up an office in the country as a U.S. entity, or in some cases maintaining an overseas headquarters while soliciting business in the United States.

At the heart of the forex brokers’ optimism is the possible repeal of the Dodd-Frank Act.

Signed into law in 2010 in response to the global financial crisis, the Dodd-Frank financial reform legislation aims to overhaul business practices on Wall Street and protect consumers. But its passage caused the demise of many U.S. retail FX businesses.

In 2006, there were 40 companies operating in the United States offering FX trading to retail customers. After Dodd-Frank, that number has shrunk to three — GAIN Capital Holdings, Inc. GCAP.O; Canada-based Oanda, and TD Ameritrade (AMTD.O).

Under Dodd-Frank rules, enforced by the CFTC, firms offering retail forex trading in the United States must maintain minimum capital of at least $20 million, plus 5 percent of the amount by which liabilities to retail forex customers exceed $10 million.

By comparison, the minimum capital requirement in Cyprus, where many FX brokers have moved, range from 40,000 euros ($42,680) to one million euros ($1.067 million). Cyprus, with many FX brokers under its jurisdiction, has become popular with market participants because its European Union membership allows companies based in that country to provide FX services to other EU members.

Dennis de Jong, managing director of retail forex trading firm UFX in Limassol, Cyprus, said he would “absolutely” be in favor of a move to the United States if the minimum capital requirement is reduced.

“Obviously the regulators need to be very strict in terms of how you protect the client… but in general lowering the (capital) threshold would be good,” he added.

The Trump administration has not said anything specific about FX regulation under Dodd-Frank. But House Financial Services Committee Chairman Jeb Hensarling said in a CNBC interview this week that much of the law could be undone through a number of ways.

“The $20-million bond required of U.S. retail FX business pretty much precludes anyone from founding a start-up in this business,” said Joe Trevisani, chief market strategist, at WorldWide Markets, an online multi-asset trading platform in Woodcliff, New Jersey.

WorldWide Markets, regulated by the Financial Conduct Authority in Britain, does not take U.S. clients.

Trevisani was a partner at currency broker FX Solutions, which exited the U.S. market in 2013, a Dodd-Frank casualty.

Dodd-Frank also prohibited FX overseas firms from soliciting U.S. business.

STANDBY POSITION

Russian currency broker Alpari, which left the United States in 2011 due to onerous regulations, is keen to see what happens with the new Trump administration.

“We are in standby position. Everybody is looking at the U.S. right now for business and we’re curious to see how things change,” said Roberto d’Ambrosio, chief executive officer at Alpari Research and Analysis Limited in London.

D’Ambrosio said Alpari’s decision to return to the United States would hinge partly on easing regulations such as rules on forex reporting.

“The reporting requirement is really, really heavy,” said the Alpari official. If the costs of reporting could be eased somewhat, then this would help, he added.

SHRINKING U.S. MARKET U.S. retail FX trading volume has shrunk since Dodd-Frank, data showed.

In 2016, the U.S. share of the $374 billion daily global retail currency trading volume has been cut in half to just 3 percent, or $11 billion, according to estimates from research firm Aite Group. Prior to Dodd-Frank or in 2009, the U.S. share was 6 percent, or $17 billion, of what was then a global daily retail market of $276 billion.

Some market participants have pointed to the CFTC, Dodd-Frank’s regulator, as the culprit. Dodd-Frank gave the CFTC regulatory powers to oversee the U.S. retail FX sector.

“The CFTC could have created a safe environment in U.S. retail FX by working more closely with the industry,” said Aite’s Paz in Salt Lake City, Utah.

(Reporting by Gertrude Chavez-Dreyfuss and Dion Rabouin; Editing by Megan Davies and Chizu Nomiyama)

[reviewfxbrokers552-blog]

XTrade Europe LTD, founded in 2010, is an innovative international provider for Contracts for Difference (CFDs), offering a comprehensive trading environment for stocks, commodities, Forex, and indices. is owned and operated by XTrade Europe LTD Europe LTD, Limissol Cyprus and is regulated by CySec.