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Read our Xtrade Review and Discover Why Cristiano Ronaldo has Chosen to be an Official Partner
It seems that celebrities have decided a good way to support certain causes is to become an official ambassador. Cindy Crawford became the brand ambassador for Omega watches back in 1995, Scarlett Johansson recently signed up to support SodaStream, and even the UN has realized that celebrities can be used to raise awareness. No wonder businesses and enterprises across the globe are following suit, and it has even filtered into the world of Forex trading. Soccer fans amongst our readers will immediately recognize the name of Cristiano Ronaldo and be suitably impressed. But what about those of you with no sporting knowledge or interest? Keep reading and we’ll give you all the details you need to make an informed choice when it comes to choosing the best Forex broker.
- Get 77% BonusesOffer for Ronaldo’s fans
- Max Leverage:1:400
- Forex Licence:CySEC, ASiC, MiFID
A brief introduction to Xtrade
As always, we like to start our Forex broker reviews with an introduction to the background, history and regulation,So, let’s get the ball rolling as it always helps to understand more about a broker’s reputation and experience when you’re looking for a provider to trust with your investments. Xtrade was first established in 2003 and is owned by XFR Financial Ltd, a company licensed and authorized to operate by CySEC, to offer Contracts for Difference. It also offers trading services on shares, commodities, indices and foreign currencies. It has offices across five continents and clients from more than 140 countries.
Because Xtrade first started out processing CFDs it has developed its own trading platform
Xtrade began its foray into the world of online trading by offers CFDs, which meant an entirely different kind of software was required and led this broker to develop their own. Don’t be put off by this fact as it is very similar in both look and feel to many other online trading platforms. It is both user-friendly and allows one-touch access to everything needed including history and trading tools, open positions, and asset choices. There is no need for any complicated or time-consuming download and there is even an Xtrade mobile version allowing traders to trade away from their PC at home. All personal, financial and trading session data is securely encrypted using the latest 256-bit SSL technology.
One account choice for real money as well as a free demo account
It’s always good news to discover there is a demo account, especially for those who are new to Forex trading. It can be great preparations for the world of live trading, giving ample opportunity to test out strategies, understand how a trading platform works, and to get a feel for the broker. There is no need to make a deposit, just a simple registration process to complete and you get given a pot of virtual trading money completely free and gratis. Once you’ve found your way around trading in the virtual world it’ll be time to sign up for a real money account. And while some may find it disappointing there is only one type of account, we found using it an enjoyable and easy experience. The minimum deposit for a live account is only $100, which is perfect for the beginner. The real money account offers variable spreads, averaging at around 0.3 to 0.6 pips. Hedging is allowed and there is a trailing stop feature. The account also allows pending orders and automated trading. You may also be pleased to know that Xtrade is not adverse to scalping.
With Xtrade there is the usual array of payment options so there is no need to worry there.
Xtrade has bonuses galore for investors
Some brokers decide to offer no bonuses or promotions at all, but Xtrade seems to have gone in completely the other direction. Here are the current choices, if you’re considering choosing Xtrade for your broker.
- 77% bonuses on all deposits made in the first 7 days – Sign up and become a Xtrade customer and Ronaldo will give you a whopping 77% bonus on every deposit you make within your first seven days.
- First deposit bonus – Up to $6,000 will be given as a bonus when you make your first deposit. It is, however, only added to your trading account when you have accumulated the required number of trading points, and if this condition is not met within 30 days the bonus will expire.
- Phone verification bonus – Verify your telephone number and you will receive a free $20 cash bonus. It is credited to your equity and can be used to trade. To redeem it you have to accumulate 300 Points within 30 days.
- First trade on Xtrade bonus – When you open your first deal, Xtrade will cover it, allowing you to keep any profit, or refunding the loss up to $120 cash bonus. Terms and conditions do apply.
- Account verification bonus – Verify your account and receive a free $30 cash bonus. It is credited to your equity and used for trading purposes. You will have to reach 300 XPoints within 30 days in order to redeem it.
- Special Xtrade VIP package – Benefits include personal account management, extra training session, discounts on spreads, exclusive promotions and bonuses, special financial terms, and valuable gifts.
As you can see, Xtrade has taken the benefit of offering bonuses fully onboard and offer a great array of special offers. But as you can also tell there are a number of onerous terms and conditions, which is what often trips people up. Nevertheless, as long as you take the time to read the special conditions and understand what is involved these bonuses are definitely worth considering.
What about customer service?
Xtrade offers a more than decent level of customer support and it’s available 24 hours a day, 5 days a week, regardless of where you might be located. There is the option of sending an email, a fax or calling one of the many international telephone numbers. Education also seems to feature very high on the list of priorities with an extensive range of tutorials, courses, and entry to the Xtrade Academy.
All in all, there is a lot to offer all kinds of traders. It has a great reputation, an interesting and generous bonus system, great trading software and mobile apps, as well as a wide variety of assets and trading instruments. Xtrade is definitely a broker we would recommend trying, so why not start by signing up for a demo account so you can decide for yourself.
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