Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

Xtrade was founded in 2000 and based in Melbourne, Australia, is a online trading broker. It currently holds a full license from the Australian Securities and Investments Commission (ASIC), a suspicious clone license from the Cyprus Securities and Exchange Commission (CYSEC), and an offshore retail forex license from the Financial Services Commission (FSC) of Belize. Xtrade offers a wide range of tradable assets, including currencies, commodities, indices, stocks, and more. This diverse selection allows traders to access various global markets and create well-diversified portfolios. With Xtrade, traders have the flexibility to choose from various trading account types, catering to different levels of expertise and trading preferences. The minimum deposit required to open an account is$250, allowing traders with different budget sizes to participate in the markets.

Xtrade offers a competitive maximum leverage ratio of up to 1:400, enabling traders to amplify their trading positions. Spreads on different financial instruments vary, ensuring a diverse range of trading opportunities.

Traders can access the markets using Xtrade's user-friendly and feature-rich trading platforms. These platforms provide seamless trading experiences across multiple devices, including web, mobile, and desktop.For traders who wish to test their strategies or familiarize themselves with the platform, Xtrade provides a demo account. Additionally, the broker offers an Islamic account option for traders who follow Shariah principles.

Xtrade prioritizes customer support, providing assistance to traders through various channels, including live chat, email, and phone. Traders can reach out to the dedicated support team for any inquiries or assistance they may need. The broker also provides educational tools and resources to help traders enhance their trading knowledge and skills.

Is Xtrade legit or a scam？

Xtrade is a broker that is regulated by two regulatory authorities, namely the Australian Securities and Investments Commission (ASIC) and the Financial Services Commission (FSC). ASIC is an Australian regulatory body known for its strict oversight of financial services providers, ensuring fair and transparent practices.

The FSC, on the other hand, is the regulatory authority in Belize, where Xtrade operates as an offshore entity. While the FSC is responsible for overseeing financial services in Belize, it is important to note that the regulatory standards may differ from those of ASIC. Traders should be aware of the regulatory jurisdiction in which the broker operates and understand the associated risks.

Pros and Cons

Xtrade offers several advantages and disadvantages that should be considered by potential traders. On the positive side, the broker is regulated by reputable authorities like ASIC. They offer a wide range of trading instruments, including Forex, commodities, indices, and cryptocurrencies, providing diversification opportunities. Additionally, Xtrade provides educational resources and tools to support traders' knowledge and skills development. However, some drawbacks include the spreads not being highly competitive, which could affect the cost of trading, and the lack of transparency regarding commission charges, the absence of MT4 or MT5 trading platforms. Traders should carefully evaluate these factors before deciding to trade with Xtrade.

Market Instruments

Xtrade offers a diverse range of market instruments to cater to the trading needs of its clients. Traders can access a wide variety of indices, representing different global markets, allowing them to speculate on the overall performance of major stock exchanges. Additionally, Xtrade provides a selection of commodities, enabling traders to participate in the price movements of precious metals, energy resources, agricultural products, and more.

Furthermore, Xtrade grants access to a comprehensive range of shares, including stocks of renowned companies from around the world. This allows traders to invest in individual companies and potentially benefit from their performance and dividends. In the forex market, Xtrade offers a vast selection of currency pairs, enabling traders to capitalize on fluctuations in exchange rates between various currencies.

For those seeking diversification, Xtrade provides access to Exchange-Traded Funds (ETFs). ETFs are investment funds that track the performance of a specific index or sector, allowing traders to gain exposure to a basket of assets with a single trade. Moreover, Xtrade offers the opportunity to trade bonds, enabling traders to invest in fixed-income securities issued by governments or corporations.

With this extensive range of market instruments, Xtrade empowers traders to diversify their portfolios and take advantage of various trading opportunities across different asset classes.

Account Types

Xtrade offers different account types to cater to the varying needs of traders, starting with the Standard account. With a minimum deposit requirement of $250, the Standard account is ideal for beginners who are new to trading or prefer to start with a smaller investment. This account provides access to a user-friendly trading platform, educational resources, and basic trading features, allowing traders to gain experience and knowledge in the financial markets.

Moving up the ladder, the Premium account requires a minimum deposit of $1,000. This account type is suitable for intermediate traders who have a bit more experience and seek competitive trading conditions. Traders with a Premium account can enjoy a wider range of tradable assets, receive regular market updates, and access customer support services to assist them in their trading journey.

For traders looking for an even higher level of service and benefits, Xtrade offers the Platinum account. Requiring a minimum deposit of $5,000, the Platinum account provides traders with enhanced features, including tight spreads, faster trade execution, and dedicated account managers who can offer personalized guidance and support. This account type is suitable for traders who desire a premium trading experience and want access to advanced trading tools.

Lastly, Xtrade offers the VIP account, which is designed for experienced and high-net-worth traders. With a minimum deposit requirement of $20,000, the VIP account provides exclusive benefits such as priority customer support, lower trading costs, and advanced trading tools. Traders with a VIP account can enjoy personalized services and assistance from dedicated account managers to meet their specific trading needs.

How to open an account？

Opening an account with Xtrade is a straightforward process.

1. To begin, visit the Xtrade website and click on the “Open Account” button.

2. Fill out the registration form with your personal details, including your name, email address, and phone number.

3. Next, choose your desired account type and leverage level. After completing the form, review and accept the terms and conditions.

4. Finally, verify your account by providing the necessary identification documents as requested by Xtrade. Once your account is approved, you can proceed to fund it and start trading in the financial markets with Xtrade's user-friendly trading platform.

Leverage

Xtrade provides traders with flexible leverage options across various instruments. The leverage offered by Xtrade varies depending on the trading asset. For forex trading, the maximum leverage available is up to 1:400, allowing traders to amplify their trading positions. When it comes to commodities, the leverage reaches up to 1:200, offering traders the opportunity to trade larger volumes with a smaller initial investment. Shares trading on Xtrade's platform has a maximum leverage of 1:10, enabling traders to take advantage of price movements in the stock market. Lastly, for cryptocurrency trading, the leverage ranges from 1:10 to 1:50, depending on the specific digital asset.

Spreads & Commissions (Trading Fees)

Xtrade offers spreads that are not considered highly competitive, with the benchmark spread on EURUSD ranging from 2 to 5 pips. The spreads indicate the difference between the buying and selling prices of a trading instrument, and in the case of Xtrade, they may be slightly wider compared to some other brokers in the market. It's important for traders to consider the spreads as they directly impact the overall cost of trading.

However, it's worth noting that the exact commission charges associated with trading on Xtrade's platform are not specified. Traders should evaluate the overall trading conditions, including spreads and any applicable commissions, to make informed decisions regarding their trading strategy on Xtrade.

Non-Trading Fees

Apart from trading fees, Xtrade may charge non-trading fees, which refer to fees not directly related to trading activities. These fees can include charges for account inactivity, withdrawal fees, or fees for certain payment methods. It is important for traders to familiarize themselves with the specific non-trading fees imposed by Xtrade, as they may vary depending on the account type and the services utilized. Being aware of these fees can help traders effectively manage their trading costs and make informed decisions.

Trading Platform Available

Xtrade offers a user-friendly trading platform designed to meet the needs of modern traders. One of the platform options available is the WebTrader, which allows traders to access their accounts and trade directly from their web browser. It provides a seamless trading experience with advanced charting tools, real-time market quotes, and an intuitive interface. The WebTrader platform is accessible from any device with an internet connection, making it convenient for traders who prefer trading on the go.

For traders who prefer to trade on their mobile devices, Xtrade provides a mobile trading app compatible with both iOS and Android systems. The mobile app offers full functionality, enabling traders to monitor their positions, place trades, and access real-time market information. It is designed to be user-friendly and responsive, providing a smooth and efficient trading experience even on smaller screens.

Additionally, Xtrade offers a tablet trading app, optimized for larger screens and providing enhanced features for tablet users. The tablet app combines the convenience of mobile trading with the expanded functionality of a larger display, allowing traders to analyze charts, execute trades, and manage their portfolios with ease.

Promotions

Xtrade presents a range of enticing promotions and bonuses to enhance the trading experience for its clients. Traders can take advantage of the First Deposit Bonus, which offers a rewarding boost of up to $5000 on their initial deposit. Additionally, by completing a simple Phone Verification process, traders can earn a $25 Cash bonus as a gesture of appreciation. The “First Trade on us” promotion allows traders to enjoy a cash bonus of up to $500 when placing their initial trade. Furthermore, by verifying their trading account, clients can receive a generous 20% bonus as part of the Account Verification promotion. These promotions provide traders with added value and potential rewards, giving them a head start in their trading journey with Xtrade.

Deposit & Withdrawal

Xtrade offers flexible deposit and withdrawal options to cater to the diverse needs of its clients. While the standard minimum deposit is $250, Xtrade occasionally runs promotions that allow for lower deposit thresholds, providing more accessibility for traders. Clients can choose from various payment methods, including credit/debit cards, bank transfers, and American Express, among others. The availability of deposit options may vary depending on the country of residence.

When you request a withdrawal, the funds are returned using the same method you used for depositing. For example, if you deposited funds using a credit card, the withdrawal amount will be credited back to that card. Similarly, if you used a bank transfer for deposit, the withdrawal will be transferred back to your bank account. In the case of deposits made through e-wallets like Skrill or Neteller, the withdrawal will be returned either through a bank transfer or directly to the e-wallet. It's important to note that withdrawal requests typically take up to five business days to process. However, please be aware that external factors beyond our control, such as credit card companies or intermediary banks, may cause delays of up to three weeks in extreme cases. Normally, bank transfer or credit/debit card refunds are completed within 10 business days, while e-wallet payments are processed instantly once the withdrawal is approved.

Customer Support

Xtrade prioritizes providing excellent customer support to its clients. With their dedication to customer satisfaction, Xtrade offers round-the-clock customer support, ensuring assistance is available 24 hours a day, 6 days a week. This allows traders from different time zones to access support whenever they need it. The customer support team is multilingual, capable of assisting clients in various languages, further enhancing the accessibility and inclusivity of their services.

Clients can reach out to Xtrade's customer support through multiple channels, including email, phone, and online chat. This diverse range of contact options allows traders to choose the method that suits them best for efficient and convenient communication. Whether clients prefer written correspondence, direct phone conversations, or real-time chat support, Xtrade accommodates their preferences.

To provide additional assistance and address common inquiries, Xtrade offers a detailed FAQ section. This comprehensive resource covers a wide range of topics, including account registration, deposits and withdrawals, trading platforms, trading conditions, and more. The FAQs provide clear and concise answers to frequently asked questions, empowering traders with the necessary information to navigate the platform and make informed decisions.

Educational Resources

Xtrade offers a comprehensive range of educational resources designed to empower traders with knowledge and skills. Their educational offerings include video tutorials, which provide step-by-step guidance on various trading concepts and strategies. These tutorials are easy to follow and cater to traders of all levels, from beginners to advanced.

In addition to video tutorials, Xtrade provides interactive courses that cover a wide range of trading topics. These courses are carefully curated to provide traders with a structured learning experience, allowing them to delve deeper into specific areas of interest and enhance their trading proficiency.

For traders looking to familiarize themselves with industry terminology, Xtrade offers a comprehensive glossary. This glossary serves as a valuable reference tool, providing clear and concise definitions of key trading terms and jargon.

To keep traders informed about the latest market trends and developments, Xtrade offers a wealth of trading information. This includes real-time market news, analysis, and insights, enabling traders to stay updated and make informed trading decisions.

Xtrade's blog is another educational resource that offers a wealth of informative articles on various trading topics. From market analysis and trading strategies to risk management and psychology, the blog covers a wide range of subjects to help traders expand their knowledge and refine their trading approach.

Lastly, Xtrade prioritizes trading education and provides access to additional educational materials such as e-books, webinars, and seminars. These resources offer valuable insights and perspectives from industry experts, further enriching traders' learning experience.

Overall, Xtrade's educational resources aim to equip traders with the knowledge and skills necessary to navigate the financial markets effectively. By offering a diverse range of educational tools, Xtrade strives to support traders in their quest for continuous growth and improvement.

Conclusion

Xtrade offers a wide range of trading opportunities with its user-friendly platform and diverse tradable assets. The broker is regulated by ASIC and FSC, and the leverage provided offers flexibility to traders. Customer support is readily available, and the broker supports various payment methods. Xtrade also provides educational tools to enhance traders' knowledge and skills. On the downside, there may be delays in withdrawal processing, particularly when involving third-party payment methods. Besides, it is important to note that spreads may vary and some non-trading fees may apply. Overall, Xtrade presents an opportunity for traders to explore the financial markets, but it is important to consider both the advantages and limitations before engaging in trading activities.

Frequently Asked Questions (FAQs)

What is ACY Securities？

ACY Securities is a multi-financial broker regulated by the Commonwealth of Australia Regulatory Authority (AUS) in Australia. Since 2011, the company has relied on its keen insight into the market, effective demand management, client-oriented & advanced technology, and perfect educational resources to help more institutional participants and retail traders integrate into the ever-changing financial derivatives industry.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

ACY Securities offers a comprehensive trading experience with access to multiple assets through the industry-standard MT4/MT5 platforms. It shines in stringent regulation in Australia, low minimum deposits required, competitive spreads and commissions, trading tools, educational resources, and more. However, some traders have reported issues with severe slippage and withdrawals. While ACY provides demo accounts for practice, it's crucial to evaluate the potential drawbacks alongside the benefits before committing to a live account.

Note: These pros and cons are based on the information provided and may not be exhaustive.

ACY Securities Alternative Brokers

There are many alternative brokers to ACY Securities depending on the specific needs and preferences of the trader. Some popular options include:

RoboForex - A reliable broker with a wide range of trading platforms, but with high fees and a limited product portfolio.

Hantec Markets - A good choice for experienced traders seeking a range of markets and trading platforms, but with limited educational resources and high fees.

Key Way Investments - A decent broker for beginners with a strong focus on education and low fees, but with a limited product range and average customer service.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is ACY Securities Safe？

Currently, ACY Securities has two entities regulated by the Commonwealth of Australia Regulatory Authority (AUS) in Australia. The only difference lies in license type: ACY SECURITIES PTY LTD holds a Maket Making license under license no. 403863 and ACY CAPITAL PTY LTD holds a STP license under license no.474738.

Market Instruments

ACY Securities offers access to over 2200+ trading instruments, covering Forex, Indices, Commodities, Cryptocurrencies, ETFs, Shares as well as Futures. This allows traders to diversify their trading portfolio and take advantage of different market conditions. With so many options, traders can find opportunities in multiple asset classes and take positions based on their trading strategies. The variety of instruments offered by ACY Securities makes it a versatile platform for traders looking for diverse opportunities in the financial markets.

Accounts

In terms of accounts offered, both demo accounts and live trading accounts are available on the ACY Securities platform.

Demo Accounts

ACY Securities demo accounts are funded with $100,000 in virtual funds, replicating the real trading experience. Traders can access over 2,200 tradable assets through the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, allowing them to familiarize themselves with the platform's features and functionalities before committing real capital.

Live Trading Accounts

For live trading accounts, ACY Securities presents three options: Standard, ProZero, and Bespoke. The Standard account requires an initial minimum deposit of $50, with subsequent minimum deposits set at $50 as well. Both the ProZero and Bespoke accounts mandate a higher initial minimum deposit of $200 and $10,000, respectively. Regardless of the account type, all three options allow traders to open positions with a minimum trading volume of 0.01 lot. Notably, while the Standard account offers swap-free (Islamic) trading, this feature is not available for ProZero and Bespoke accounts.

All account base currencies are available in USD, AUD, EUR, GBP, NZD, CAD, JPY, targeting traders from a broader range of areas.

Leverage

ACY Securities currently provides 50:1, 100:1, 200:1, 300:1, 400:1, and 500:1 leverage to meet investors' various needs. The maximum leverage for commodities and precious metals is 1:500, the stock index is 1:100, and for share CFDs is 1:25.

While leverage can amplify potential profits, it also increases the risk of significant losses. Therefore, it's important for traders to understand the risks involved and use leverage responsibly, especially for beginner traders who should start with lower leverage until they gain more experience.

Spreads & Commissions

Spreads and commissions with ACY Securities are scaled with the accounts offered. Specifically, the spread is variable on the Standard account, and from 0.0 pips on the ProZero and Bespoke accounts.

Note that the ProZero and Bespoke accounts have a commission-based pricing structure, which means that while the spreads can be tighter, traders need to pay a commission on top of the spread. Specifically, $3 per lot per side on the Bespoke account, 2.5/lot per side on the Bespoke account. In contrast, there is no commission charged for the Standard account.

Below is a comparison table about spreads and commissions charged by different brokers:

Note: Spreads can vary depending on market conditions and volatility.

Trading Platforms

ACY Securities provides clients with the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms for desktop, mobile, and web. These platforms are renowned for their user-friendly interfaces and advanced charting capabilities, as well as their extensive range of technical indicators and trading tools.

With MT4 and MT5, traders can customize their trading experience to suit their individual needs, and execute trades quickly and efficiently. The mobile and web versions of the platforms allow traders to access their accounts on-the-go, ensuring that they can always stay up-to-date with market conditions and execute trades at their convenience.

Overall, the availability of these well-established trading platforms can be a significant advantage for traders who are looking for a reliable and versatile trading experience.

See the trading platform comparison table below:

Trading Tools

ACY Securities offers a variety of trading tools to enhance clients' trading experience. Capitalise.ai is a trading automation platform that enables traders to automate their strategies using natural language. MetaTrader Scripts are designed to help traders automate some repetitive actions in the MT4 and MT5 platforms, such as opening multiple orders or closing all positions at once.

Signal Start is a platform that provides signals from third-party signal providers, which traders can use to make informed trading decisions. Forex VPS is a virtual private server service that allows traders to run their trading platform and expert advisors (EAs) 24/7 without interruptions. With these trading tools, traders can optimize their trading strategies, improve efficiency, and potentially increase profitability.

Deposits & Withdrawals

ACY Securities offers approximately 20 funding options including China Union Pay, QR codes, credit/debit cards, e-wallets (PayTrust, DragonPay, Skrill, Neteller), bank transfers, and cryptocurrencies (USDT, BTC, ETH). Minimum deposits range from $50 to $1,000 depending on the method. No deposit fees are charged, and processing time is typically within 24 hours. The platform targeting traders globally with multi-currency support.

ACY Securities minimum deposit vs other brokers

You can make 3 free withdrawals per month, and after that, you will be charged $25 per withdrawal in your base currency, or you can wait for the new month to get your free withdrawals again. The amount you withdraw must be the same as the deposit, and you must withdraw within 20 days of the transaction.

ACY Securities processes withdrawal requests on the same day if received before 16:00 AEST; requests received after that time will be processed on the next business day. The speed of receiving and clearing funds depends on the withdrawal method chosen. Bank transfers take 2-3 business days, while card withdrawals take 3-5 business days.

See the deposit/withdrawal fee comparison table below:

Please note that the fees may vary depending on the specific payment method used and the country of the trader. It is important to check the broker's website for the most up-to-date information on fees and charges.

Customer Service

ACY Securities provides multiple channels for clients to get in touch 24/5, including phone, email, live chat, and an online messaging system. Clients can also follow the broker on various social media platforms such as Twitter, Facebook, Instagram, YouTube, LinkedIn, and TikTok. In addition, an FAQ section is available on the website to answer common questions. Overall, ACY Securities' customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Note that these pros and cons are based on user feedback and experiences, and may not necessarily be representative of everyone's experience with ACY Securities' customer service.

Education

ACY Securities places great emphasis on forex education, providing a wide range of learning resources to help traders improve their trading skills and strategies. The broker offers a variety of educational materials, including webinars, e-books, and premium training resources, catering to traders at all levels, from beginners to experienced professionals.

The Market Analysis Webinar provides insight into market trends and helps traders stay up to date with the latest news and events affecting the forex market. The Forex E-books are comprehensive guides that cover various trading strategies, tools, and techniques. The Premium Training Resources are designed to provide traders with personalized education tailored to their individual needs, helping them gain a deeper understanding of the forex market and improve their trading performance.

Conclusion

As a whole, ACY Securities is a regulated and reputable broker that offers a wide range of trading instruments, multiple account types, and various trading platforms. The broker also provides traders with educational resources, trading tools, and excellent customer support. However, there have been some reports of slippage and withdrawal issues, which should be taken into consideration.

ACY Securities may be a suitable broker for experienced traders looking for a diverse range of trading options and strong support, but potential investors should be aware of the risks involved and exercise caution before investing.

Frequently Asked Questions (FAQs)

Is ACY Securities regulated？

Yes. It is regulated by the (AUS) in Australia.

Does ACY Securities offer demo accounts？

Yes. Demo accounts funded with $100, 000 in virtual funds are offered.

Does ACY Securities offer the industry-standard MT4 & MT5？

Yes. Both MT4 and MT5 are available.

What is the minimum deposit for ACY Securities？

The minimum initial deposit to start trading is $50.

Is ACY Securities a good broker for beginners？

No. ACY Securities is not a good choice for beginners. Though it advertises very well, there are too many complaints on the Internet.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.