Xtrend is a Forex broker and an investment App which provides its ownership Xtrend trading app, which can be easily used through mobiles and tablets making it much easier for the user. It offers the trading options through a Mobile platform but does not provide the variety in their services. Their easy-to-use platform enables the users to access the financial markets. Let’s gain a better understanding about the Xtrend and its Pros and Cons by reading a full Xtrend review.
Xtrend can be termed as a CFD and a Forex broker which is a Cyprus based Broker, offering the traders choice of Mobile trading which is a versatile experience with smooth trading option. Xtrend was established in 2016 and is owned by Rynat Trading Ltd, which is registered as Cyprus Investment Firm (CIF) and it also claims to be regulated by CySEC. Xtrend offers variety of trading options in approximately 100 different countries and traders can choose to trade in US Oils, precious metals, Forex. The Xtrend app can be downloaded from the Google Play store, which allows the user safe and secure way of funding and receive up-to-date market analysis. This App shows the Live Charts and trading levels with technical indicators in real time and trade performances.
The Xtrend claims the spreads, averaged from 0.2 pips on EUR/USD which are quite attractive. Even if the applicable commission is added of 4 Dollar per side the overall trading cost will result in 1 pip per stand lot, which is on lower end of average. It offers only one type of trading account for all the traders and the minimum amount required to be deposited is 50 Dollar and besides this they use the general level up to 1:500 which will be comfortable in most aggressive trading styles.
The payment methods of Xtrend includes Master Card and Maestro the processing time of which is 24 hours or less, depending on the type of bank. The disadvantages of Xtrend includes the trading platforms that are not advanced as it may not provide MT4 or MT5 trading facilities to its clients and as already mentioned, trading can be done solely by the mobile phones which most of the times makes it difficult for the users who are comfortable in Desktop platform. The trader tends to hesitate as it makes them quite uncomfortable in learning and using the trading policies and conditions.
Is Xtrend Scam or Legit?
With Xtrend being a Mobile friendly trading platform making it quite attractive it cannot be said that all the traders and investors are satisfied with its services because the it makes difficult for the advanced traders who are accustomed to work from their PC and using professional trading software like MT4/MT5 and cTrader. It also offers the clients with only 4 Crypto CFDs which are much lesser than many other brokers present in the market. Also, it does not provide the variety of trading options restricting the users to the limited services. By analyzing all the facts and status it can be stated that Xtrend is not a Legit Broker and it does contain various pitfalls which are needed to be looked upon.