XTrend is a European financial services provider, which is owned and operated by Rynat Trading Limited. The company was founded in 2016 and is based in Limassol, Cyprus. The XTrend app was created exclusively for the modern trader who wishes to utilize the continuously increasing advantages of a user friendly mobile device and execute trades anytime, anywhere, hence XTrend operates solely on iOS and Android devices. XTrend delivers through its trading platform application a wide range of trading instruments including Forex and CFDs for stocks, commodities and indices. Is XTrend a reliable Forex broker or is it a scam broker? Find out more with AtoZ Markets Forex broker review of XTrend.
Based on our readers-first policy, putting their safety as a priority in our business line, we, as AtoZ Markets, scrutinize not only the broad headline with which a brokerage platform identifies itself, but even the smallest details about it. This comes from our belief in values in the first place, and the must-have truth and transparency in what we publish on our website, en route of keeping the trust our readers put in us, which of course has contributed much to our name and stands behind its continuous ascendance. For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation, when it comes to presenting our audience with an overview about a brokerage firm. In this review, we host the XTrend App.
XTrend forex broker offers a wide variety of trading options in over 100 different countries by providing clients with the opportunity to trade Forex and precious metals such as gold and silver via their Mobile/Smartphone exclusively through the XTrend Trading App. Established in 2016, XTrend forex broker is headquartered in Limassol, Cyprus.
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 and to compensate them for any claims arising either from an inability of a member of the Fund to fulfill its obligations or from any wrongdoing on the part of the member of the Fund. The ICF ensures customer deposits up to €20,000 per client.
With over 63% of people accessing the internet via mobile, 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. For this reason, XTrend, on the one hand, may not provide MT4, MT5, web trade or c-panel trading facilities to the trading clientele -as they might have been used to- but on the other hand, the XTrend App’s pioneer development appeared to revolutionize the Forex market. XTrend not only launches its own, unique trading platform, but the company is also much more focused on the advantages of its micro trading App that can be downloaded from Google Play for Android users and the App Store for iPhone users.
With instant access to the markets, wherever in the world, App users can receive up-to-date Market analysis, news and education, view live charts and set their trading levels with technical indicators in real time. Also, with instant in-App notifications, clients can view their trading performance directly on their mobile device.
The new version of XTrend iOS and XTrend Android is already available since the 9th of March and aims to better satisfy the needs of Forex and CFD traders, who enjoy online Forex and CFDs trading on their mobile devices. New version updates follow up at a constant basis.
The most widespread form of CFD trading is currency trading, otherwise known as forex (FX) trading; short for foreign exchange trading. In FX trading an investor buys one currency while selling another at the same time. CFD currency products are traded in pairs i.e. EURUSD. These pairs fall under Majors and others.
The Majors are the most traded and liquid currency pairs formed by combinations of USD, EUR, GBP, CHF, JPY, AUD, CAD, and NZD currencies i.e., EURUSD, GBPUSD, USDJPY, etc.
Precious metals market consist of commodities that have a significant role in the commodities market and are traded via contracts of tradable goods. The contracts of precious metals are spot prices and are for Gold and Silver.
At the time being XTrend focuses its clients on Forex and Precious Metals trading, but more symbols are to be added soon in the future, such as Cryptos for instance, in order to diversify and enrich its product catalog.
The updated mobile version of XTrend app comes with several changes, of which the most important relate to the Wallet Credit, the margin and the margin per lot, as well as the commission structure. The maximum lots per trade is at 200 lots. The trading loss is deducted from the available account balance and Close Out will occur once the Margin Level (Margin Level = Equity / Used Margin) is less than 50% on an account basis. The Margin Call notification appears at 80% of the client’s Margin Level.
A change was also made regarding the margin per lot. The margins for Forex per lot are $5/lot, $100/lot, and $500/lot. The margins for Precious Metals per lot are $10/lot, $100/lot and $500/lot.
XTrend Forex Trading App asks for 0.04 USD per 100 Base Currency Units traded as commission in the new version.
With 24/7 support available for its clients, XTrend has a customer support team that is known to be efficient and responsive. The team can be reached through email, live chat and telephone. XTrend offers a flexible range of options to reach out to its customer care. You can contact XTrend via telephone +357-25258020, or send a Fax to +357-25258039, or simply drop an e-mail to firstname.lastname@example.org for any issues
How to contact XTrend via WhatsApp?
- Add the following XTrend number to your contact list:+357-96953338
- Open WhatsApp
- Click the "New Chat" icon in the top right corner
- Select the XTrend number you added in step 1
- Start chatting!
When we tried to speak to support via live chat there was no reply for over 10 minutes.
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 and regulated by the Cyprus Securities and Exchange Commission (CySEC) under CIF license number 303/16. 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, shows a noticeable level of satisfaction in their relationship with XTrend. According to the public reviews in Google Play and the App store, which can’t be deleted or hidden by the apps’ owners, no one has up to now reported fraudulent actions on behalf of the XTrend or claimed any reason that the company must not be trusted or has committed any wrongdoing action.
The numerous positive reviews themselves, and in juxtaposition with the inexistence of an obvious number of negative ones, could acknowledge the trust and satisfaction between the app’s users and the brand.