XTrend
- Leverage: 1:30 | 1:300
- Regulation: CySEC, FSCA
- Min. Deposit: $50
- HQ: Cyprus, South Africa
- Platforms: XTrend PC and Mobile Trading Apps
- Found in: 2018
XTrend Licenses:
- Rynat Trading Ltd – authorized by CySEC (Cyprus) license no 303/16
- Rynat Capital (Pty) Ltd – authorized by FSCA (South Africa) FSP no 23497
Trading instruments in several asset classes are available at XTrend, a Forex and CFD trading firm. These classes include Energy, Commodities, Indices, Shares, Precious Metals, and Cryptocurrencies.
Our investigation has led us to believe that the broker is authorised and regulated by the respectable CySEC, which is based in Cyprus. In addition to being approved by the prestigious FSCA authority, the company also has a presence in South Africa.
Trading conditions are competitive, and the broker offers a comprehensive choice of goods via their smart platform.
Pros and Cons of XTrend
Based on our research, traders should be aware of the firm’s benefits and drawbacks. The broker provides a low minimum deposit requirement, a variety of trading products, and a competitive trading environment for professionals. Additionally, the company offers extensive teaching tools and resources.
One drawback is that customer help is not accessible at all times. Traders that place a premium on brokers with stronger regulatory credentials may also be concerned that the broker does not possess a top-tier license. Nevertheless, CySEC and FSCA regulations provide a secure trading environment.
| Advantages | Disadvantages |
|---|---|
| European license and oversee | No 24/7 customer support |
| Good trading conditions | No demo account |
| Low minimum deposit | No top-tier license |
| Professional trading | |
| Competitive pricing | |
| Learning materials | |
| Trading Instruments |
XTrend Review Summary in 10 Points
| Headquarters | Cyprus, South Africa |
| Regulation | CySEC, FSCA |
| Platforms | XTrend PC and Mobile Trading Apps |
| Instruments | Forex, CFDs, Commodities, Indices, Shares, Precious Metals, Cryptocurrencies, Energy |
| EUR/USD Spread | 0.2 pips |
| Demo Account | No |
| Minimum deposit | $50 |
| Base currencies | EUR, USD, GBP, AUD |
| Education | Provided |
| Customer Support | 24/5 |
How Reliable Is XTrend?
Yes, XTrend is legit. The prestigious CySEC in Cyprus and the FSCA in South Africa have both given their approval. To maintain a high level of professionalism in the financial sector, these regulatory bodies implement stringent laws and regulations.
Can You Trust XTrend?
To answer your question, XTrend is a legal and registered broker that provides Forex trading services in accordance with all applicable legislation. Traders have more faith in the broker’s reliability and security when it meets the standards established by the FSCA and European authorities.
In addition, the firm is dedicated to operating inside regulated areas and being transparent with traders, as seen by its decision not to provide services in offshore zones.
| XTrend Strong Points | XTrend Weak Points |
|---|---|
| Professional trading environment | No top-tier license |
| Investors Compensation Fund (ICF) | |
| Account balance protection |
Client Trading Security
Our research indicates that XTrend takes several precautions to ensure the security of its traders’ funds. Among them, keeping an eye on regulations and making sure everyone follows the rules are common. In addition, the company has safeguards in place to ensure that customer monies are kept apart from the broker’s operating funds.
But before you do business with a broker, make sure you do your homework and review all of their paperwork, contracts, and rules. Since trading circumstances might differ between countries, this will provide a thorough grasp of the broker’s unique trading safeguards.
Leverage XTrend
One way that traders might get into the market with low cash is by using leverage. The employment of this tool, however, carries with it the potential for significant gain or loss. Traders should be well-versed in the ins and outs of leverage and its potential repercussions before using it in their trading strategies.
In accordance with CySEC and FSCA laws, XTrend leverage is provided:
- The maximum allowed for major currency pairings by dealers in Europe and South Africa is 1:30.
- Before deciding to utilize leverage in trading, it is vital to understand the ramifications and hazards involved
- since the website indicates that greater leverage of up to 1:300 is possible.
Sorts of Accounts
Based on our study, the broker provides traders with a single genuine trading account that is suited to their requirements. A minimum of $50 is required as an initial deposit.
| Pros | Cons |
|---|---|
| Low minimum deposit | No Demo account |
| Fast and easy account opening | |
| Account base currencies EUR, USD, GBP, AUD |
Begin Your XTrend Trading Journey with Us
Logging in and registering with XTrend takes no more than a few minutes, making it one of the simplest broker account opening processes. Simply follow the on-screen instructions provided on the page where you create your account or log in:
- Pick on the “Create an Account” link and hit the “Create” button.
- Please include your name, email, phone number, and any other necessary personal details.
- Send in evidence of residency, identification, or other paperwork to confirm your information.
- To verify your trading background, please finish the online questionnaire.
- Proceed with the deposit after your account has been verified and enabled.
Tools for Trade
XTrend gives you access to all the most popular trading products, including Energy, Precious Metals, Commodities, Indices, Stocks, and Forex.
Traders are able to diversify their holdings and engage in several markets via the broker, which caters to their unique trading style and preferences.
With a total score of 8.5 out of 10, XTrend Markets offers a wide variety of trading goods.
Fees for XTrend
Our research into the broker’s cost structure revealed that XTrend offers reasonable rates for most trading services. Withdrawals are subject to the broker’s costs, and extra charges may apply during trading.
If you want to know how the broker’s fees will affect your trading, you should read their terms and conditions and fee structure thoroughly.
Our research and comparison with more than 500 other brokers place XTrend Fees in the middle of the pack, earning it an average grade of 7.9 out of 10.
| Fees | XTrend Fees | Errante Fees | OCBC Securities Fees |
|---|---|---|---|
| Deposit fee | No | No | Yes |
| Withdrawal fee | Yes | No | Yes |
| Inactivity fee | No | Yes | Yes |
| Fee ranking | Low/Average | Low/Average | Average |
Spreads
Based on our test trade, the broker provides competitive spreads, with an average spread of 0.2 pips for the EUR/USD currency pair in the Forex market.
However, spreads can vary based on market conditions, volatility, and liquidity, so consult the broker’s website or contact customer support for detailed information on the spreads they offer for specific instruments and account types.
- XTrend Spreads are ranked low or average with an overall rating of 8 out of 10 based on our testing comparison to other brokers. We found Forex spread lower than the industry average of 1.2 pips and the spreads for other instruments are competitive too.
| Asset/ Pair | XTrend Spread | Errante Spread | OCBC Securities Spread |
|---|---|---|---|
| EUR USD Spread | 0.2 pips | 1.5 pips | 0.9 pips |
| Crude Oil WTI Spread | 0.3 | 1 | 3 |
| Gold Spread | 1 | 1 | 1 |
Deposits and Withdrawals
Per our research, the broker offers a variety of payment methods for traders to deposit funds into trading accounts including Wire Transfers, Credit/Debit cards, and E-wallets like Skrill, Neteller, PayPal, etc. However, some payment methods may have specific requirements or restrictions depending on the client’s bank or other financial institutions involved.
- XTrend Funding Methods we ranked good with an overall rating of 8.5 out of 10. Fees are low, and you can also benefit from various account-based currencies.
Here are some good and negative points for XTrend funding methods:
| Advantage | Disadvantage |
|---|---|
| Variety of funding methods | None |
| Fast digital deposits |
XTrend Minimum Deposit
To initiate a live trading account with the broker, traders are required to make an initial deposit of $50.
XTrend minimum deposit vs other brokers
| XTrend | Most Other Brokers | |
| Minimum Deposit | $50 | $500 |
XTrend Withdrawals
Based on our analysis, the withdrawal process is both convenient and swift. The withdrawal process might take 3-5 working days, depending on your bank.
Withdraw Money from XTrend Step by Step:
To initiate a withdrawal fund from your trading account, the brokerage firm provides a set of typical steps that can be followed:
- Login to your account
- Select Withdraw Funds’ in the menu tab
- Enter the withdrawn amount
- Choose the withdrawal method
- Complete the electronic request with the requirements
- Confirm withdrawal information and Submit
- Check the current status of withdrawal through your Dashboard
Trading Platforms
XTrend provides trading experience through its dedicated trading platforms, catering to both desktop and mobile users. Traders can seamlessly engage in market activities using the XTrend PC application, offering a comprehensive set of tools and features for macOS and Windows.
Additionally, the XTrend Mobile Trading Apps empower users to stay connected and trade on the go, ensuring flexibility and convenience through a range of functionalities accessible on smartphones and tablets.
- XTrend Platform is ranked good with an overall rating of 7.5 out of 10 compared to over 500 other brokers. We mark it as good since it offers advanced trading platforms, however, lacks alternatives.
| Platforms | XTrend Platforms | Errante Platforms | OCBC Securities Platforms |
|---|---|---|---|
| MT4 | No | Yes | No |
| MT5 | No | Yes | No |
| cTrader | No | Yes | No |
| Own Platforms | Yes | No | Yes |
| Mobile Apps | Yes | Yes | Yes |
Trading Tools
We found that traders have access to a diverse set of trading tools designed to enhance their analytical capabilities and decision-making processes. These tools provide real-time market data, advanced charting features, and technical analysis indicators, enabling users to conduct in-depth assessments of market trends and potential investment opportunities.
Customer Support
The broker offers 24/5 customer support via live chat, email, phone line, and social media channels. Additionally, the support team includes trading experts who can assist with technical support, analysis recommendations, general inquiries, and operational issues.
- Customer Support in XTrend is ranked good with an overall rating of 7.5 out of 10 based on our testing. The support team is responsive during working days, ensuring efficient assistance.
See our find and ranking on Customer Service Quality:
| Pros | Cons |
|---|---|
| Phone support, email, live chat | No 24/7 customer support |
| Relevant answers | |
| Supportive customer service |
XTrend Education
In the end, the broker offers a variety of educational materials such as tutorials, videos, interactive courses, blogs, etc. These resources cover topics like market analysis, trading strategies, risk management, and more.
- XTrend Education ranked with an overall rating of 8 out of 10 based on our research. We found that the broker offers good learning materials suitable for all levels of users to enhance their trading knowledge.
XTrend Review Conclusion
In conclusion, XTrend is a reliable brokerage firm, that provides access to a diverse range of trading instruments across multiple markets. With its competitive trading conditions, efficient execution, and educational resources, the broker aims to provide a well-rounded trading experience.
Overall, we found that the firm provides a good trading environment, however, we advise conducting your research and evaluating whether the broker’s offerings suit your specific trading requirements.
Based on Our findings and Financial Expert Opinions XTrend is Good for:
- European traders
- Traders from South Africa and the African Region
- Currency trading
- Professional trading
- Currency trading
- Investing
- Beginners
- Advanced traders
- Competitive spreads and fees
- Good education and trading tools