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XTrade Review


XTrade is an established CFD broker that is owned and operated by Xtrade Au Pty Ltd.

They are officially located at: 135 Macquarie Street, Suite 3, Sydney, NSW 2000, Australia. Their main phone number in Australia is: +61390881303, and in Cyprus: +35725030742. Client support email address is: [email protected]

Official website: https://www.xtrade.com.au/.

For complaints and withdrawal problems, read this.

xTrade Brokers Reviews

XTrade Brokers Review

XTrade is a leading CFD broker, and they provide a wide range of assets for investors to trade. With over 1 million app downloads on Google Play as of June 2024, you would think they are a popular broker. But after reading many of the app ratings we see that most of their clients are from India, complaining about not being able to withdraw their funds.

XTrade offers CFD trading abilities on; Indices, Commodities, Bonds, Forex and Stocks. Day traders and investors can take advantage of the user friendly, web based trading platform. When placing orders, you have the ability to set a few other variables to capture profits and limit losses. They include the “Close at profit”, “Close at loss” and “Buy when Rate is” features.

Traditional investors will find the industry standard MetaTrader4 platform. Additionally, they offer a great mobile app for iOS, Android, and Windows, for easy trading on both your Tablet and Smartphone.

Four account types are offered by this broker, and the minimum deposit for a standard trading account is $250. Multiple methods for funding your trading account are available including: Credit Card, Bank Transfer and Alternative Payment Methods.

XTrade Trading Platform
Official XTrade Broker Review

Is XTrade an honest broker?

Australia financial regulator ASIC has announced that it has cancelled the Australian financial services (AFS) license of retail over the counter (OTC) derivatives issuer XTrade.AU Pty Ltd (XTrade).

XTrade applied to the Administrative Appeals Tribunal (AAT) on 29 April 2024 for a review and stay of ASIC’s decision to cancel the AFS license. Following an interlocutory hearing on 31 May 2024, the AAT refused XTrade’s stay application.

This means that XTrade’s AFS license remains cancelled until a final decision is made by the AAT on the substantive review application.

Yes, they hold a license in the various countries they operate.

  • Australia: XTrade Australia is licensed and regulated by ASIC and located at: 39-41 Chandos Street Level 1, St Leonards, NSW 2065, Australia. Their ASIC ACN is 140899476 and license number is 343628.
  • Cyprus: Merba Ltd is regulated by CySEC with license number 108/10.
  • South Africa: Peak Wealth PTY Ltd is regulated in South Africa by the FSCA, with FSP license number 44681.
  • Belize: Xtrade International Ltd is located in Belize, and regulated by the International Financial Services Commission with license number 000281/343.

There are many Forex brokers to compare and choose from online. Most traders choose to invest and trade at licensed and regulated broker instead of a scam broker.

When reviewing and comparing CFD and Forex brokers it is important to check that they are actually licensed to operate. The reason to trade with a licensed broker is that in the event that the broker becomes insolvent, your money is protected.

Compare Forex Brokers

You have many CFD brokers to choose from, and it is a smart move to have multiple trading accounts.

AvaTrade is a global broker that is licensed and regulated in many countries. Many investors are trading with AvaTrade because of their wide range of trading platforms, that cater to all types of traders. Learn more at: AvaTrade.com.

If you are currently using this broker, please share your thoughts with other investors in the comments below.