XTrade is one of the biggest Forex dealers available to retail traders and is based in New York. In the Forex trading game, this is a trusted name. It is actually listed on the NYSE, which assures clients that it is probably going to be around for a long time to come. Both retail traders and professional traders alike trust this brand.
You will find that this dealer that provides several different platforms for its traders. The platforms include the very popular MetaTrader 4 platform, Mobile Trading Station II, Trading Station Gateway (Web based platform), Active Trader, and Trading Station II. The multiple platform ensure that the tastes and needs of different types of traders are well catered for.
XTrade offers a variety of platforms for its customer service functions for its traders. Available is a trading desk phone number that you can call, fax, email, phone customer service, and live chat feature. It also provides toll-free and international numbers for its traders around the world.
It has a strong reputation as one of the most reliable Forex dealers in the world since it is one of the largest. Due to the wide array of popular and tested platforms, execution of trades is virtually flawless since millions of trades have been executed through it.
Spreads and Commissions
XTrade operates on a floating spreads model and is reputed for the tightness in spreads it provides. Spreads can be as low as 0.2 pips in the liquid currency pairs such as the USD/CHF, EUR/USD, and the USD/JPY.
This company rarely offers any promotions.
- Easy deposit process. Depositing money in your account is a quick and simple process and a variety of methods are available including debit cards, credit cards, ACH deposit, and a paper check. Withdrawals are done in reverse.
- You can start trading with as little as $50.
- The Trading Station II is a reliable and well-known platform. It has been in use for several years and is quite stable.
- You even get to trade the US Dollar Index.
- Variable spreads. The variable spreads ensure that spreads remain tight. Spreads are some of the biggest expenses you will have as a trader.
- During news events, the variable spreads can be a problem but only for those that are looking to scalp the news announcement.
- In the US, this broker is only limited to Forex. This means that if you would like to trade other markets, you will need to find a different broker.
The fact that this is a company that is both regulated and listed on the NYSE shows that it is one serious company. The best thing about trading with XTrade as your broker is the fact that there is no dealing desk intervention while the spreads are simply amazing. Even though it might not be the right broker for news traders, it works exceptionally well for the typical trader since trade execution costs will be minimal.