Read this Xtrend broker review before opening your account. Is Xtrend a Scam or Reliable Forex Broker? What are the benefits of trading with this broker? Unbiased trader review about this Cyprus based and CySEC regulated Forex broker.
XTrend provides a wide variety of trading options in over 100 different countries, exclusively through a mobile platform . The company has its origins from Cyprus and holds the CySEC license. On the trading software side, XTrend offers its proprietary XTrend Trading App, which is easy to use from your mobile and tablet.
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Established in 2016, XTrend is owned and operated by Rynat Trading Limited with a registered Office and correspondence address in Cyprus. Rynat Trading Ltd is registered as a Cyprus Investment Firm (CIF) with the registration number HE344135. Rynat Trading Ltd also owns XBulls.
XTrend forex broker offers a wide variety of trading options in over 100 different countries. XTrend provides its clients with the opportunity to trade Forex and precious metals, exclusively through its propriety trading platform on the mobile. It's mobile Forex trading platform is branded under the name XTrend Trading App. XTrend identifies itself as CySEC regulated broker that developed a propriety trading platform that can be accessed on the go. In order for traders to catch the right trades at any given time, with a intuitive trading platform that is easy to use.
Rynat Trading Ltd is a member of the Investor Compensation Fund (ICF). The ICF came into being in 2002, in line with the Investment Firms Law of 2002 and the European Directive 93/22/EC. Cyprus Investment Firms (CIFs) are obliged to participate in the Investor Compensation Fund as part of their regulatory requirements. In order to safeguard traders from Europe and other countries. The objective of the Fund is to secure any claims of covered clients against members of the Fund.
Also, the Fund compensates traders for any claims arising either from an inability of a member of the Fund to fulfil its obligations. Or from any wrongdoing on the part of the member of the Fund. Clients that trade with XTrend enjoy the insurance of customer deposits up to €20,000. This amount is per client.
XTrend Trading App can be downloaded from Google Play for Android users and the App Store for iPhone users. The broker focusses on the advantages of its micro trading App with instant access to the markets. XTrend Trading App allows users to receive up-to-date Market analysis, news and education. Also, traders can easily view in the APP live charts and set their trading levels with technical indicators in real time. Furthermore, XTrend Trading App sends instant in-App notifications. This helps their traders to view their trading performance directly on their mobile device.
The new versions of XTrend iOS and XTrend Android are being constantly released. This aims to better satisfy the needs of Forex and CFD traders, who enjoy online Forex and CFDs trading on their mobile devices. Meanwhile, XTrend offers a wide range of trading instruments:
- 65 Forex trading pairs
- 4 Precious metals
- 4 Crypto CFDs
- And Index; USDX
The XTrend experts developed the app with the belief that the future of trading will be dominated by in-app trades for the Millennial generation. This is being backed by statistics as well, since already +63% of people access the internet via mobile.
For this reason, XTrend may not provide MT4, MT5, web trade or c-panel trading facilities to its clients. Instead, the XTrend App’s pioneer development revolutionises the Forex market. This also reflects in their trading account types. In fact, the Forex broker only offers 1 type of trading account for everyone on its mobile platform.
At the time being XTrend offers its clients 4 Crypto CFDs. However, when we spoke with the company, they said that more symbols are to be added in the future. XTrend Trading App is being constantly updated, in order to diversify and enrich its product catalog.
XTrend charges comissions on each trade, but maintains on average 0.2 pips spread on EURUSD. This puts XTrend as one of the cheaper brokers in the industry. In terms of the commission, XTrend Forex Trading App asks for 0.04 USD per 100 Base Currency Units traded as commission. In terms of margins per lot, please see below the margins per category:
- Forex margins per lot are $5/lot, $100/lot, and $500/lot
- Precious Metals margins per lot are $10/lot, $100/lot and $500/lot
Xtrend Trading App can be set in six languages, including English, Chinese (Mandarin), Portuguese, Italian, Spanish, and German. XTrend has a customer support team that is 24/7 support available. You can contact XTrend directly inside the app through the "help" section. Here you can chat with one of their support representatives. Other options for contact with XTrend's support team are through:
XTrend is owned and operated by Rynat Trading Limited with a registered Office and correspondence address: 18, Monis Machera Street, 4th Floor Office 401, 3020 Limassol, Cyprus/P.O. Box 51217, Limassol, Cyprus.
Rynat Trading Ltd is registered as a Cyprus Investment Firm (CIF) with the registration number HE344135. Rynat Trading Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) under CIF license number 303/16. Therefore, Rynat Trading Ltd complies to the Investment Services and Activities and Regulated Markets Law of 2017 (L. 87(I)/2017) as set out by CySEC.
The survey AtoZ Market carried out into XTrend, which included reaching out to a considerable number of the broker’s customers. These broker customers show a noticeable level of satisfaction in their relationship with XTrend. Also, the public reviews in Google Play and the App store shows positive reviews. In fact, these in-App can’t be deleted or hidden by the apps’ owners. Nevertheless, no one has up to now reported fraudulent actions on behalf of the XTrend within the in-App reviews. Also, none of the App users claimed any reason that the company must not be trusted or has committed any wrongdoing action. Therefore, all these in-App reviews, could acknowledge the trust and satisfaction between the app’s users and the brand.