XTrader FX is a trading platform claiming that through them, users can “skyrocket” their trading performance. According to the website, it is one of the best platforms on the market. We wrote this review to help you find out whether this is true. We understand that looking for information on these kinds of online platforms can be challenging because there a lot of contrasting reviews online, some claiming it is a great platform and others referring to it as scam. We recently tested XTrader FX and we will tell you about its main characteristics, including bonuses, deposits, education resources and much more. What we will tell you already, is that XTrader FX is not an autotrading robot. If you are looking for a good crypto bot, we suggest having a look at Bitcoin Profit.
What is XTrader FX?
XTrader FX was developed in 2017. It is an online broker based in 18 Stoke Road Slough, England and owned by GPAY LTD. It prides itself of using an advanced software that will “meet and exceed” the expectations of all kinds of users, both with and without previous experience of trading in crypto. Three features that the broker believes make it stand out amongst the rest are education, diversity and benefits. The platform provides a wide range of informative tools to help investors make the most out of their trading experience. It also offers a great variety of assets as well as bonuses, promotions and more, that traders can benefit from.
Platforms like XTrader FX however, are always risky to trade on. That is not because the broker is a scam but because they allow investors to trade in a market that is known to be extremely volatile, so what may seem like secure investments may turn out not to be so secure. In fact, when trading in crypto, a risk of losing part or all of the funds invested exists. An aspect of the platform proving that it can be trusted though, is that it is transparent about the risks linked to trading with cryptocurrencies. Other brokers attempt to hide this information, whilst the official website dedicates a whole section to provide detailed information on the dangers faced while trading.
Let us remind you, that “broker” is not the same as “crypto robot”. Brokers are meant to offer investors a safe space to place trades on without in any way interfering during the process. Crypto robots on the other hand, are more complex and high-tech software designed to help users place the most profitable investments. Among the most popular and reliable crypto robots you can find Cryptosoft, Bitcoin Code or Bitcoin Profit. If you appreciate the functions of XTrader FX as a broker, you can access it through crypto bots, where you can enjoy an auto trading option, which you would not find by trading on the broker directly.
If you want to trade on Bitcoin Profit you can click here.
XTrader FX Regulations
XTrader FX is an unregulated platform, which means that it is not under the supervision of any government agency. However, we have tested the platform and have found that there are other positive features demonstrating that the broker made significant efforts to try and protect its customers from the dangers associated with crypto trading. Several brokers regulated and supervised by governmental watchdogs do not do that.
Is XTrader FX Legit or Scam?
As mentioned previously, we tested this particular broker and have found that it is a legit platform. Of course, to be sure of this you would have to try it yourself, but if you trust our judgment, believe us when we say that XTrader FX is a reliable and trustworthy broker.
The first point that convinced us is the fact that the broker’s features reflect the high standards set on the website where the platforms most remarkable characteristics are explained. There is no doubt that diversity, benefits and education are the aspects that make the broker stand out among its competitors. The broker offers traders a wide range of investment choices, from CFDs to Forex, from indices to commodities and much more. The education tools and resources as well as the great variety of benefits on offer also show that the broker is actively seeking to satisfy customer needs.
The second point that we were positively impressed by is the accessibility of the trading platform. Both novices and professional users can benefit from the functions on offer. In fact, the platform is very simple to use, which allows beginners to learn how to use it intuitively, without needing any assistance or tutorials. At the same time though, the trading room also has all the functions that professional users need to pursue complex investment strategies, including trading history, charting, asset list, information and so on. Overall, it is a complete and comprehensive platform that users of all kinds of backgrounds can make the most of.
Now that we have scratched the surface, let us unpack and be more specific about what makes XTrader FX a legitimate platform.
XTrader FX is one of the few brokers that allows investors to choose from a great variety of asset options, mostly cryptocurrencies. The platform also includes the most popular digital coins on the market, such as Ethereum, Litecoin and Bitcoin. A lengthy explanation of each of the main currencies on offer is present on the official website to inform users on what are the most convenient and profitable ones to help them decide which ones to invest on.
It is uncertain which trading platform XTrader FX uses to support its trades. The website does not provide information on the matter. However, we do know that it does not user MetaTrader4 or WebTrader, the two most popular and well-reputed trading platform available, used by most of the online brokers. On a positive note though, the platform that XTrader FX uses, is still very complete and easy to use, even though using MT4 or WebTrader could be an addition to the reputation of the broker.
How to sign up on XTraderFX directly (not recommended)
Of course, you may sign up on XTrader FX directly if you do not want to trade with the broker through Bitcoin Profit or any other crypto bot. However, we must stress that by doing so, you are more likely to lose part of all of the funds you invest because by trading on the broker directly you will in no way be facilitated by the algorithms on which auto trading robots are based. You will therefore miss out on significant advantages that can guarantee you to make profits. Unless you are a professional trader with significant experience in the world of online trading and following a clear investment strategy, then Bitcoin Profit or other bots are your best shot at earning money. If you sign up on Bitcoin Profit, you will be able to use XTraderFX as a broker, so you will have the advantages of automated investments through your preferred broker. If you would like to do that, please click here.
If instead you would like to sign up on XTrader FX directly, please visit the official website to register. Registration on the broker is similar to the sign-up process on Bitcoin Profit. You will be requested to type in your full name, email address, phone number and the same password twice to avoid mistakes while typing your new password. Please make sure that your email address is the correct one as you will receive a confirmation email to finalise your registration. You are also requested to confirm that you are over 18 years old.
XTrader FX has five different account types available. That is more than what most of the other online brokers usually offer. The accounts on the broker can be Standard, Advanced, Expert, Pro and Elite. Each account upgrade offers users increased advantages but the minimum deposit required increases as well. The minimum deposit for the standard account is £300, £5,000 for advanced, £20,000 for expert, £100,000 for pro and £250,000 for elite. Even though it may seem like a lot of money, the advantages on offer a remarkable.
All account types have certain basic advantages, which include a platform introduction, a dedicated account manager and users also have access to webinars and daily reviews. The advanced has daily signals and a personal educational session other than the basic advantages. The difference between advanced and expert accounts is that the latter also offers up to 30% discounts on spreads and commissions and users are notified of upcoming exclusive events they can participate in. The pro account offers users a chief trader account manager while all the others provide either junior or senior traders. With this account type, users are also entitled to up to 50% discounts on spreads and commission. No information is provided on the elite account. Users are suggested to contact their account manager to find out what the offer is.
Leverage, Commissions and Spreads
An effective way to increase transparency would be for the broker to provide information on leverage, commissions and spreads, which we were unable to find during our test. Usually, these are either standard and the same for all account types or the account upgrades provide users with access to particular discounts on commissions and spreads and allow users have a higher leverage. Unfortunately, we are unable to tell you what are XTrader FX’s policies on the matter.
Deposits and Withdrawals
The broker offers a significant variety of payment methods for users to deposit and withdraw funds. These are Bitcoin, credit or debit cards. You can pay via VISA, Mastercard, SSL secured, EntroPay and others. You can also pay via bank transfer in several currencies. However, we are not sure what these currencies are so we suggest to contact customer service and find out if you are intending to pay through bank transfer.
The broker does not provide a mobile app unfortunately. However, the trading platform runs on browser so if you wish to trade with a tablet, mobile phone or laptop, you are welcome to do so as long as you have an Internet connection. The format of the platform will change automatically depending on the size of the screen the broker is being used on.
Education and Resources
Having a look at how much effort is made to make the education section complete and helpful is always part of our test of brokers. We believe that this particular broker met our expectations by providing users with useful informative tools and resources to help inexperienced users understand certain aspects of trading. At the same time, the resources are certainly helpful for professional users as they can allow them to refine their investment strategies.
In fact, the website offers a glossary with most of the terms used in crypto trading. It also gives users access to a number of webinars, ebooks and tutorials on how to trade. As we mentioned before, XTrader FX also included lengthy descriptions and definitions of the most popular cryptocurrencies on offer to help traders understand to whether or not trading with them is worth it. The broker certainly has made that extra effort to try and meet all of the needs that customers may have whilst trading, which increases the platform’s reliability and trustworthiness.
The broker’s official website states that XTrader FX offers certain bonuses to new and regular customers. These are on offer for limited periods of time and can either be funds deposited into users’ account that have to be used for trading or they can be limited-time-trading credits.
According to the website, customer support is available 24/7. The broker provides two phone numbers based in the UK and in Germany. You may also fill in a contact form after logging into your account if you prefer writing down your concern instead of talking to a member of staff. There is also a live chat option, allowing users to contact members of staff in real time. Overall, the broker offers a good variety of ways to contact member of staff at any time of the day. Our impression of customer services is very positive.
What makes XTraderFX unique?
We have summed up some of the pros and cons that emerged in this review, which we based on our test of the broker.
More robots where you can access XTrader FX
Here is a brief list of reliable crypto bots through which you can access XTrader FX.