Debit card purchases were processed instantly, though an additional $1 fee was charged for card verification. Unfortunately, SEPA transfers failed due to an “internal server error” during testing. Additionally, BingX does not support SEPA Instant for instant deposits; users must wait 1-2 days for standard SEPA deposits, with a relatively high minimum of €40.

Advanced verification takes about 10 minutes and involves submitting a selfie with a photo of your ID, which is pretty fast. The biggest concern, however, stems from a recent security breach in which hackers stole over $40 million. Although BingX fully reimbursed customers for any losses, this incident raises serious security issues, as a breach of this scale should not occur with an exchange of BingX’s size.

Award-Winning Platform

Nevertheless, the Xtrader Pro is an excellent alternative to the tried and tested MT terminal, but traders are bound to miss the numerous features and functionalities of a dedicated trading interface. Xtrade offers a standard trading https://traderoom.info/xtrade-forex-broker-overview/ experience, particularly with its focus on fixed spreads and a proprietary platform. Unlike brokers such as FXTM, Forex.com, or Axi, which offer commission-based accounts alongside spread-based ones, Xtrade only offers spread-based accounts.

With over 5,000 tradeable symbols, including CFDs, forex, crypto, and exchange-traded securities, eToro offers a comprehensive — albeit slightly pricey — trading experience. XTrade supports all the leading payment transfer methods for both deposits and withdrawals. These include Visa/ Mastercard, Bank transfer, ePay, EUTeller, Neteller, PaySafeCard, and a number of other country specific methods. Funds can be deposited in USD, EUR, GBP, CAD, AUD, and a few other currencies. Before making a withdrawal a trader has to have their identity verified, and there is no minimum amount. XTrade makes no charge or fee on either withdrawals or deposits, but there may be a charge for overnight trades, and if an account has become inactive.

Xtrade MobileTrader App

My Xtrade is an online dashboard designed for clients that offer all the vital information related to Xtrade Forex trading. Xtrade provides FX trading as part of its CFD products portfolio, and is not a dedicated FX broker, unlike other mainstream Forex companies. Xtrade acts as a market maker, where all market orders are opened as contracts between the broker and the trader. There is no ECN or Direct Market access option; therefore, Xtrade has some amount of conflict of interest with its clients.

This is ideal for traders looking to speculate on tokens for upcoming airdrops. If you are looking to trade Pre-Markets you should keep in mind that these markets have much less liquidity and wider spreads than traditional spot markets. BingX uses the industry-standard Maker-Taker fee model, offering reduced trading fees as users increase their monthly trading volume or account balance. For spot trading, fees start at 0.1% for both maker and taker orders, while futures trading fees start at 0.02% for maker orders and 0.05% for taker orders.

Brokers By Licenses

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.

Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). EToro can act as a market maker or agency broker, depending on factors such as which eToro entity holds your account. Market maker brokers act as the counterparty to your trade, while agency brokers send your order to other market makers in return for rebates, profit-sharing, widened spreads and commissions. EToro is trusted by over 30 million traders globally and is licensed to hold client funds and provide brokerage services in numerous countries. Founded in 2007, eToro is regulated in three tier-1 jurisdictions and one tier-2 jurisdiction, making it a Highly Trusted broker (low-risk) for trading forex and CFDs. Less experienced traders that require some degree of handholding may find the user-friendly platform an added benefit.

1. The platform requires a minimum deposit of $100 payable via Credit Card, Bank Transfer, Skrill, Sofort, etc.One important thing to keep in mind when choosing your broker is checking if they have a license.
2. Additionally, the platform does not offer fee discounts and lacks direct fiat withdrawals, making the platform unsuitable for users who make frequent fiat withdrawals.
3. This account includes premium features such as dedicated account management, priority support, and possibly faster execution speeds.
4. If you want to join or change your online Forex platform, this Xtrade Forex broker review could help you immensely with making your first steps.Xtrade was established 13 years ago, in 2003.
5. The high is marked by the top of the upper shadow and the low by the bottom of the lower shadow.

However, it has fewer futures markets than both Binance (390) and Bybit (420). Additionally, BingX has been given an average liquidity score of 506, which is far lower than Binance (923), Coinbase (805), and Bybit (675). However, for EUR withdrawals, several merchants offered support for transactions over €10,000 with competitive exchange rates, rivaling the rates seen on exchanges offering direct USDT-to-EUR conversions. The best exchange rates I could find were €0.946 for a €10,000 withdrawal and $1.11 for a $5,000 withdrawal. BingX maintains 100% Proof of Reserves to ensure customer fund safety, publishing bi-weekly audited data on BTC, ETH, USDT, and USDC.

Users can select rates provided directly by BingX or its third-party payment providers, MoonPay and Mercuryo. However, the absence of major order types, such as Iceberg and Day Orders could restrict certain trading strategies. Despite this, most traders will likely find BingX’s selection of conditional orders adequate to meet their needs. BingX has garnered mixed reviews from top independent ranking websites, with some platforms yet to evaluate the exchange. It ranks highly for liquidity, trading volume, scale of operations, and Proof of Reserves, reflecting its strengths in these areas.

1. After choosing your account type, you will need to verify your identity by submitting the necessary documents, such as a passport or a utility bill, to comply with regulatory requirements.
2. The broker also provides a wide variety of financial assets to help traders to create a diverse investment portfolio.
3. It is both user-friendly and allows one-touch access to everything needed including history and trading tools, open positions, and asset choices.
4. However, it has fewer futures markets than both Binance (390) and Bybit (420).
5. Yet you should calculate and cover necessary expenses since the variety of trading instruments offers different margins and spreads.

As a derivatives trader, I appreciated the flexibility to switch between crypto, indices, and forex, allowing me to explore other markets when crypto lacked immediate opportunities. The platform performed flawlessly and delivered a frustration-free trading experience. However, with 272 markets, BingX does have slightly fewer markets compared to industry leaders Binance (392) and Bybit (417). Using BingX’s order forms is straightforward for beginners while allowing customization that meets the needs of advanced traders. The order forms are similar to those on the mobile app, making transitions between devices easy. BingX also offers advanced conditional order types like TWAP, a feature not widely available on other exchanges.

Fiat withdrawals are available only through P2P trading, meaning daily limits depend solely on how much a merchant can provide in a single trade. All users are limited to one P2P transaction every 24 hours, so the fiat withdrawal cap is essentially what you can withdraw in one P2P transaction. BingX offers more spot tokens than industry leaders Binance (426), Bybit (665), and Coinbase (259).

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. 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.

The long thin lines above and below the body represent the high/low range and are called “shadows” (also referred to as “wicks” and “tails”). The high is marked by the top of the upper shadow and the low by the bottom of the lower shadow. If the stock closes higher than its opening price, a hollow candlestick is drawn with the bottom of the body representing the opening price and the top of the body representing the closing price. If the stock closes lower than its opening price, a filled candlestick is drawn with the top of the body representing the opening price and the bottom of the body representing the closing price.