When it comes to trading brokers, one of the top requirements is versatility and support.
If this is something you value, Xtrade will quickly become one of your favourite brokers.
Of course, these aren’t the only advantages offered to you by this broker.
Unfortunately XTrade does not accept traders from Australia. Read this XTrade Australia review to see what are the alternatives.
Why Are Australians Not Accepted On XTrade?
The reason why Australia is not among the accepted countries on XTrade is that the broker does not have an Australian ASIC regulation. Here is a list with ASIC regulated brokers.
Luckily there are more than enough brokers for Aussie traders (for example Highlow).
What Does Xtrade Offer
Apart from the ETFs, this broker tends to offer CFD services for each of its instruments. The upshot of this is that you don’t have to physically own any of the assets that you want to trade with. Rather, you have the option to make a profit from the price movements alone.
There are some perks to trading these CFD-based assets with this broker. Namely, you don’t have to pay any commission and you get to enjoy fixed spreads. Also, leverage makes it easier to expand your position. Here are the conditions for each of the CFD instruments offered by this broker:
- Indices: here, you get access to some of the biggest indices on the global market. You can also view real-time and continuous index rates, ensuring that you know how to open and close your position.
- Commodities: there are so many different commodity assets to select from with this broker. These include soft assets like coffee and cotton as well as crude oil and metals. There is also the option to predetermine your market position as well.
- Shares: here, too, you get access to shares in the global market, allowing you to make a profit without having to invest as much money. By setting automated limits on your trades and predefining your profits and losses, you can lower your risk level.
- Forex: you have the opportunity to trade with major currency pairs, with the benefit of fixed spreads to boot. Traders also receive quite a bit of trading support and access to up to date information, making it simple for you to improve your position.
- Cryptocurrency: you can engage in one of the most contemporary forms of trading, without having to take responsibility for the actual ownership of the cryptocurrency.
There are two options when it comes to trading platforms – MetaTrader4 and the Xtrade WebTrader. The MetaTrader4 is one of the more popular platforms around and it isn’t difficult to see why. Its user-friendly features make it a good option for both novice and seasoned traders alike. To top this off, partnered with Xtrade, you also get to enjoy top-notch features like one-click trading and full Expert Advisor functionality. There are also lots of technical analysis tools to select from, allowing you to determine your position in a much more informed manner.
As for the Xtrade WebTrader, this negates the need to download any software. Instead, you can simply access this platform from virtually anywhere so that your trading has no limits. This isn’t the sole feature of the platform, however. For instance, this platform gives you access to highly accurate and up to date market analysis. You can also execute trades more efficiently and quickly allowing you to open and close positions that much better. There are also mobile versions of this platform, allowing you to trade on the go.
There is technically only one type of account you can open with this broker. The advantage of this, of course, is that you will not have to wade through a number of different terms and conditions to understand just what the advantage of each account is.
Another benefit of this account is that it is completely free to open and register. As you can imagine, though, you can only really begin trading once you have made a deposit. In addition to the main trading account, you also have the option to open up a demo account. This is activated as soon as you open a regular account. Nevertheless, the activation is subject to a minimum deposit.
If you don’t want to open up a regular account, you still have the option to only activate a demo account. However, the demo account that is opened alongside the regular account doesn’t have an expiration date.
When you open an account with this broker, you can expect a fair amount of trading support. This is largely in the form of technical analysis features. You are able to view economic calendars as well as receive Autochartist market news and reports. It is due to these elements that you will find trading with this broker to be highly accurate. All the trades you place can be verified to a significant extent.
XTrade Educational Materials
One of the features that really put this broker on the map are the educational materials. There are so many to choose from that you will find it easy to build yourself up from scratch, even if you are a novice trader. The beginner’s course, for instance, teaches you everything you need to know about forex trading as well as the forex market.
It isn’t just information on forex that this broker provides you with. You can also learn about commodities, cryptocurrencies, and trading CFDs. So, regardless of what you want to learn, you will be covered.
Yet another advantage is that the educational courses are offered in different ways. For instance, if you prefer a more traditional way of learning, there are comprehensive e-books that you can refer to. If you like something that is more interactive, there are plenty of video tutorials to select from as well.
Now it should be noted that the brokerage is registered in Belize. This isn’t something to be alarmed about, as it is still registered. Instead of the ASIC, though, the broker is authorised and registered by the International Financial Services Commission in Belize. As a result, it needs to adhere to certain requirements and standards, if it wishes to maintain its license.
The above factors are the main elements you need to know about this broker. Unfortunately XTrade does not accept Australian traders, but maybe the will have an Australian ASIC license in the future. We will keep you updated.
By going through them, it is easy to note that this is a legitimate broker that has a suitable number of features for all kinds of traders to enjoy.