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XTrend Review - is it scam or safe?

XTrend Review - is thextrend.com scam or good forex broker?

RATING: 3 / 1 REVIEWS ForexBrokerz XTrend
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Trading Accounts and Conditions

 

Trading account  Min. deposit  Default leverage Avg. Spread (+ commission)
Standard  $50 1:30 0.2 pips + $4 /lot (per side)

 

XTrend is a Cypriot broker offering a single account type with rather attractive trading conditions and if you are used to trading forex from your mobile phone, this might be of interest to you. Read the full review to get acquainted with both the strong and weak sides of this brokerage.

 

 

XTrend Advantages

 

Regulated in Europe

The best thing about XTrend is that it is regulated in one of Europe\s most popular forex hubs – Cyprus. The broker is a brand of Cyprus Investment Firm (CIF) Rynat Trading Limited, which also operates XBulls.

 

 

The regulatory environment in Cyprus is quite solid and provides significant guarantees to clients of locally regulated entities. Forex brokerages in the country have to be licensed by the Cyprus Securities and Exchange Commission (CySEC) or a similar EU financial regulator, and should adhere to a number of strict rules. These include certain capital adequacy requirements, segregation of clients’ funds, reporting transactions on a regular basis, provision negative balance protection, as well as compensation scheme coverage (to a maximum of €20,000).

 

In addition, CIFs have to also meet all requirements set on a European level.

 

Low trading cost

The spreads of XTrend, as announced on its website, are quite attractive – averaged from 0.2 pips on EUR/USD. Even if we add the applicable commission of $4 per side, the overall trading costs for this pair amount to around 1 pips per standard lot, which is on the lower end of average for the industry.

 

 

>> Check out the spreads of some top-tier brokers in real time <<

 

 

Low initial deposit, high leverage

In order to open an account with XTrend, one has to deposit $50, which is a low amount to start with. Besides, clients of the broker are able to use generous leverage up to 1:500, which will suit even the most aggressive trading styles. Yet, we remind you that trading on margin involves higher risk of loss.

 

 

>> Compare the spreads of top forex brokers <<

 

 

XTrend Disadvantages

 

No desktop/web platform, MetaTreder not supported

As we already mentioned, trading with XTrend is done solely via mobile phones. The broker has developed its iOS and Android trading apps with Millennial traders in mind. While these apps are user-friendly and perfectly functional, we bet some traders will miss the good old MetaTrader4, as well as dealing with all the perks of an industry leading desktop platform.

 

 

The MT4 is preferred by most traders, beginners and professionals alike, because it provides perfect trading environment with great functionality.  The software is light, fast, easy to use and reliable. Furthermore, it offers top-notch charting and is praised for the support of Expert Advisors – automated trading bots.

 

 

>> Check out the best MT4 brokers <<

 

 

Not that many CFDs

Another minor disadvantage of XTrend is that its offer could have been broader in terms of tradeable assets. Currently, XTrend offers trading solely in currency pairs, silver and gold.

 

Actually, most brokers offer more forex pairs and wider range of CFDs, also including indices, commodities, stocks and cryptocurrencies like Bitcoin. If you are a crypto enthusiast, we have drawn up a list of some brokers offering Bitcoin CFDs which are reliable and licensed.

 

 

>> Trade cryptocurrencies with a regulated forex broker <<

 

 

Conclusion

 

Cypriot brokerage XTrend offers its clients a simple forex trading mobile app and quite attractive conditions. More importantly, it holds a license with CySEC, which basically means that its clients can trade with the ease of mind that their funds and accounts are safe.

 

Yet, this financial services provider is not suitable for morе advanced traders, accustomed to working from their PC and using professional trading software like cTrader or MT4/MT5.

 

 

>> Find the best brokers in Cyprus <<

 

 

And finally, here are the highlights of the present review of XTrend:

 

Pros Cons
Regulated in Europe No desktop/web platform, MetaTreder not supported
Attractive pricing Not that many CFDs
Low initial deposit, high leverage  

 

Latest news about XTrend
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Traders` reviews for XTrend

Spread

Pros

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Slippage

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Requotes

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Price feed

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Cons

 

 

Platform

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Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

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