The customer support is designed in a very bad way, meaning that in case of some problem occurs, traders cannot be sure that these issues will be addressed professionally by the broker. Last but not least, the brokerage is associated with the other broker, that is called out for being scam by the traders. Based on this, we can confidently say that trading with XtreamForex is not safe and one should search for a reliable broker. As for the XtreamForex FX brokerage spreads, on the front page of the website the broker claims to have spread from 0 pip, and average spread for the major currencies like EUR/USD o.1 pip. Already in account types, one can see that spreads are from 1 pip for the Micro and Standard accounts.
While at first glance some of the beginner traders might find XtreamForex to be a good broker, experienced traders can see that it is not trustworthy. The broker claims to has an award of the best broker with the tight spreads, but the information on the website shows that the broker does has higher spreads than average. The low minimum deposit and high leverage are the main tricks the broker uses to lure customers and make its services attractive for them. Overall, our verdict of XtreamForex review is that the broker cannot be trusted and it is better to find an international brokerage that is regulated by the reputable regulators and offers truly good service. XtreamForex is a true ECN forex broker that has a good selection of trading products to trade with competitive conditions on the user friendly MetaTrader trading platforms along with an abundance of trading tools.
With a constant 2% investment of the capital, it would take an average of 50 losses in order to lose all the funds. This not only smart but also a highly encouraging making sure you don’t end up having to fund all the time and waste your money and lose your courage. When trading Forex Retail foreign exchange trading there are many factors that can affect the trades very badly, be it greed or fear. Some people can get too intoxicated with the thrill of making a profit that they lose a streak of trades that sets them back, or they can invest too much money in each trade and get wiped out.
- So no safety of funds and no safety of Trades executed here only they pose to be an International Brokerage without Global Presence.
- Lack of regulation does mean that they can offer some features that a regulated broker might not be able to, such as higher leverage.
- Developed as early as in 2005 and 2010, respectively, both platforms come with large built-in marketplaces for “Expert Advisors” , as well as a range of custom trading strategies and indicators.
- As an IB you can earn up to $25/Lot commissions for each traded lot by your referred clients and this time you can withdraw your daily earned commission at the end of the day.
- Whilst this does increase profit potential, it can also greatly increase your risk exposure.
- The calculators are helpful in evaluating the risk/profit ratio of each trade.
Both MetaTrader platforms are packed with tools and features to satisfy even the most demanding of traders. The margin level determines forex the deposit that is required to keep open positions. To open and hold positions, a trader must have sufficient funds to secure it.
With this method of risk management, traders have to consider the possible reward with the successful completion of a transaction, when they are deciding on which trade to make. This includes considering the spread as it affects the price a lot. Speaking of trading platforms, XtreamForex utilizes the MetaTrader4 software for its trading platform. The MT4 platform is one of the most popular trading platforms the industry can offer. Its fully-customizable interface allows for maximum flexibility and ease of use.
The account types are well-detailed and gives traders a variety of options to see which fits their styles best. Foreign exchange market Basic research and educational tools are also provided, which is expected in a reputable forex broker.
Grand Investing Ltd is located in the Marshal Islands, a well-known offshore zone and a preferred location for shady brokerage. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from xtreamforex review this broker as they are anonymous and that they can disappear any time without notice. XtreamForex offers a total of five trading accounts to choose from. Some accounts are applicable to beginners, while others are recommended for experts.
It must be strongly emphasised that there are no guarantees on performance when copying signals and past results are by no mean any indication of future results. You should have a clear understanding of the significant risks involved before trading online.
We highly recommend you to read the user reviews on our website before you start trading with this brokerage company. Customer support is one of the most important things to check before registering with the new broker. XtreamForex has three options available to get assistance from the broker.
XtreamForex is the best forex broker with highly supportive staff and faculty members also with tighter spreads. In addition to allowing funding with bitcoin, Xtream also offers trading in a range of cryptocurrencies for those who want to speculate on the wild price swings in this market. The cryptoassets currently available from the broker includes of course Bitcoin, as well as Litecoin, Ethereum, Ripple , Dash, and a whole range of lesser-known cryptocurrencies. We have carved a reputation as a leader of the revolution in online trading by providing a reliable, user-oriented trading environment built on the most advanced platforms. As we continue to grow internationally and establish ourselves as a global brand, our main priority will remain your profitability, your success and your happiness as our clients and it always will be. XtreamForex claims to have 0 spreads, and average 0.1 spread for EUR/USD currency pair. The page dedicated to the currency pairs show that the spread for EUR/USD is 1.2, and the typical spreads for other currencies are much higher.
When a position opens there are no limits about when it should close that is entirely up to the trader and the decision can be made during the trade. With Binary Options the time frame is pre-determined, and the trade has to play out till the expiry date. Some brokers offer the option of “early closure” meaning you can exit your position at some point during the trade if you feel you are losing, but at a percentage cost. With Forex there can’t be any specified numbers on profits or losses. Traders can apply a Stop Loss order, to makes sure no big losses are made, but depending on how the market moves as the position is open losses and profits can be wide or narrow.
The broker claims that it is a well-established and reliable brokerage that is constantly growing on the International market. TradeMax does not state which countries do they provide with the financial and trading services. As understood from the website, anyone can register with the broker, however, it targets English, Vietnamese, Arabic, and Nigerian traders since the website is available in these languages. The brokerage is operated by the company Grand Investing Ltd, which is registered in the Marshall Islands. The broker does not claim that it is regulated, there is no license number mentioned on the website, which means that the XtreamForex is not regulated and provides unauthorized service. Moreover, scam brokerages love the Marshall Islands, as the registration is very easy and acquiring the license is very cheap. Brokers who are registered there are operating from the different countries.
Why Trade Forex: Top Reasons To Get Started In Fx
It indicates that the broker is not regulated and hence does not have any authorization to offer its services to the residents of any country. Xtream Forex has some misleading information on the website to lure the customers. If you are considering to open an account with the broker, make sure to read XtramForex review that provides all the necessary information about the broker. I work with many brokers but didn’t experience this kind of unprofessionalism where taking money from the client’s pocket is only the motive of a company. At first when I first created an account at XtreamForex I did not know exactly what to expect from them.
In order to start trading with XtreamForex, you have to deposit at least 5 USD. The broker also provides free demo accounts that are preloaded with $100,000 in virtual funds for practice purposes. XtreamForex Customer support is available 24/5 during market opening times. We believe to build long-term relationships with our clients and all the people who work with us. XtreamForex welcome clients from around the globe, although services are not directed toward soliciting citizens or residents of any jurisdiction that would be contrary to local law or regulation. You can download the XtreamForex platforms free of charge from the brokers website. They also have a web platform that runs directly in your web browser without the need to download or install any additional software.
Account Types And Trading Platforms Of Xtreamforex
All accounts types except theECN account type, are free of commissions and offer variable spreads. If you think any information & data is unbelievable and incorrect please contact with relevant broker house. Forex trading carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments, due to leverage retail accounts lose money.
Traders and partners of XtreamForex can withdraw their profits and commissions via Neteller, Skrill, Paypal, Webmoney, and Bitcoin. Also, there is another trading software available from the broker which is FIX API. From this, we can say that while XtreamForex has some of the most competitive offerings out there, it might not be a safe way to invest your money.
Fbs Markets Review & User Rating 2021
It is offered by almost every Forex company and preferred by many forex traders. The platform has established itself as a prominent one by catering to all the basic needs of traders and not just for trading. Learning how to manage risk and money is something you learn with time and experience, as you make some mistakes and fix them, and realize where your money is being mainly lost. But you should always start off with an initial plan that will help you manage your money right and use it in the right way to save the most possible for yourself.