xtrade reviewXTrade (formerly known as XForex) is a highly popular online brokerage based out of Limasol, Cyprus. It specializes in Contracts for Differences (“CFDs”) trading which allows its customers to trade in forex, shares, indices, commodities, and ETFs. If you want to know just how popular XTrade is, well, it is the official sponsor of footballer Cristiano Ronaldo.

Basic information:

Online since: 2010
Regulation: CySEC
Jurisdiction: Cyprus
Max Leverange: 1:400
Minimum Deposit: $100
Currencies: USD, AUD, NZD, RUB, CAD, EUR, GBP, Yuan
Mobile: Android, iOS
Countries: Accept all countries except USA & Canada.


  • Large and established global presence
  • CySEC regulated
  • Wide variety of asset types to trade


  • No customers from USA and Canada accepted

7 Binary Options Rating:

5 stars

Open Free AccountRisk warning: Your capital might be at risk.

Regulatory Agencies

XTrade CySEC

CySEC Regulated

 There are currently two holding companies that use the XTrade brand. The first is XTrade Europe Ltd which is regulated by the Cyprus Securities and Exchange Commission (“CySEC”). The second is XTrade International Ltd which is regulated by the International Financial Services Commission in Belize.

It appears that XTrade Europe Ltd is in charge of XTrade’s European operations while XTrade International Ltd handles the rest of the world (Note: XTrade is not allowed to operate in the United States and Canada). Depending on which part of the world you access the XTrade website from, the website will show you either XTrade Europe as the holding company or XTrade International.

What is CFD Trading?

CFD XTrade

CFD Trading

A CFD is an agreement between two parties to exchange the difference between the opening and closing price of an underlying asset. You can either go long or short on the underlying asset. Your payoff at the end of a CFD will be the difference between the opening and closing position multiplied by the number of CFDS purchased and the leverage chosen.

CFD trading is very similar to spread betting; and just like in spread betting, the broker makes its fees from the difference between the Bid/Ask spreads of each underlying asset. All the spreads are clearly listed on XTrade’s website.

As mentioned, CFD trading can also be traded on leverage, which will increase the maximum amounts of profits and losses. XTrade offers up to 400x leverage, meaning that you can trade a notional amount of $400,000 with only $1,000 of actual capital. Just remember, the higher the leverage, the higher the risk. Always proceed with caution when using leveraged trading.

Nevertheless, XTrade does offer ‘negative balance protection’, meaning you cannot lose any more than what you have deposited in your account. Hence, even if the notional amount of your losing trade far exceeds the amount deposited in your account, you will only lose the deposited amount.

User OpinionsUser Opinions

We conducted some research online to find out more about XTrade. It seems that quite many users consider it to be a very good choice. Here are some of the user reviews we found:

Quotation marks“No Bullshit with XTrade! Since I am a new user to binary options trading, i couldn’t say more right now. But I do have a feeling that this is a good investment for me”
Quotation marks“XTrade is the best broker. I have been trading with it for a long time and would encourage all my friends to choose it. No stupid encouragements to deposit money every time you lose. Their representatives are very helpful yet not annoying or anything like that. Unlike others, they don’t call you 24/7 to check in. One of their managers helped me through my first months of trading a lot”
Quotation marks“Guys, Xtrade is the best broker ever! I got $3000 in just 2 weeks. The account managers were very helpful and I started earning income from the very first days. Would advise everyone to trade with XTtrade!”
Quotation marks“XTrade is quite frankly a pioneer broker of a sort: they offer CFD as well as tradintional trading of the highest quality possible. Shares, Commodities, Forex, Indices, you name it. Where else would you find this abundance of choices?”
Quotation marks“A friend of mine was trading with XTrade for a while and then recommended me to give it a go. What a great idea that was! It’s really the one you should go for, there is no better offer out there.”


Xtrade screenshot


Asset Classes

Asset ClassesThe use of CFD trading also provides a wide variety of asset classes to trade from; XTrade offers five broad asset classes to trade from with a wide range of assets within each class. You can trade shares from the US, South Africa, and China; trade gold, sugar, and heating oil; trade the USDEUR together with Bitcoins; and trade the Dow Jones Index and the VXX Volatility Index. The number of assets available to trade using XTrade is definitely a main benefit of the platform.

Trading Platform

XTrade uses a web based platform, which is easy to use and requires no downloads. The trading platform also has a mobile-based and tablet-based version.

Account Types

Xtrade Account Types

Account Types

Currently, XTrade offers 3 types of accounts, they are:

  • Demo Account – Available upon registration. Can be used concurrently with the regular account and will be funded automatically 7 days after registration. Does not expire.
  • Regular Account – No fees for opening this account. Minimum deposit of $100. Also gives you access to one-on-one personal training as well as trading tools and reports.
  • Premium Account – Minimum deposit of $1,000. All the features of the above plus immediate stop-loss execution, fixed spreads, higher account security, and a greater variety of funding options.

Deposits and Withdrawals

XTrade Deposits and WithdrawalsThe minimum deposit amount for XTrade accounts is $100, however XTrade occasionally run promotions offering lower deposit threshold minimums.

Deposits can be made via:

  1. Credit Card (Visa, MasterCard)
  2. Skrill
  3. PayPal
  4. AstroPay
  5. Poli
  6. Neteller
  7. Bank transfer

Withdrawals are processed within 5 business days. Note that if you have any open positions, you will not be able to withdraw the entire balance as there is a minimum margin required to maintain those positions, known as a maintenance margin. Withdrawals made using credit card or bank transfer typically take 10 business days for funds to reach the account. If made via e-wallet payments, the funds will appear in the account immediately upon approval.


In addition to the spread that XTrade makes on each trade, it also charges a Premium fee and Inactivity fee. The Premium fee is charged for keeping a position open after a specific hour (~2200 GMT) and varies depending on the contract (also, an additional 2 nights premium is charged if you keep a trade open after 2200 GMT Wednesday because the Friday settlement is moved to Monday). An Inactivity fee of $5 per month is charged on inactive accounts (no trading activity for 3 months).

XTrade does not charge fees for deposits and withdrawals, although the intermediaries might charge processing fees of their own.

Customer Support

XTrade’s customer support is available via telephone, fax, live chat, and email. XTrade’s telephone support is localized; depending on which country you access the website from, it will show you the local customer support number.

Registration and Interface by: Xtrade Online CFD Trading

Bonus and Promotion

XTrade Conclusion

Note: As of April 2017, XTrade Europe Ltd is no longer offering any bonus promotions due to the latest CySEC regulations that state that ‘no bonuses may be offered that are designed to incentivize retail clients to trade’.


XTrade is one of the more global and established CFD brokers in the industry. Because of their large size and reputation, they are considered to be one of the best brokers to trade with.

Open Free AccountRisk warning: Your capital might be at risk.

7 Binary Options review: XTrade: 5 stars.

John Miller
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John Miller

John has worked in investment banking for 10 years and is the main author at 7 Binary Options. He holds a Master's degree in Economics.
John Miller
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