Summary

If you have been actively trading forex, then you would know the challenges and restrictions faced. Most people suffer due to their background and lack of clarity on how to safely trade FX online. That’s why XBTFX, a leading CFD provider exists that offers access to a number of multi-asset CFD options. Let’s delve deeper into how one can leverage XBTFX and trade both traditional and digital financial markets.

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About XBTFX Origins

XBTFX originated in 2019 with a mission to fulfill the need of a brokerage firm that serves cryptocurrencies. Since day one, XBTFX has been on a mission and focused on its transparency, security features, top-notch usability, etc. This platform has up to 200 different types of trading assets which gives traders a diversified experience.

Markets

XBTFX offers users the ability to trade more than 200 asset instruments and manage client investments across five asset classes. XBTFX comes with the option to trade in different markets like Forex, commodities, indices, stocks, and cryptocurrencies.

Forex: XBTFX features more than 75 major, minor, and exotic pairs, including EUR/USD, GBP/USD, EUR/GBP, and more.

Commodities: Users can trade precious metals like gold, platinum, silver, copper, oil, and natural gas.

Indices: With XBTFX, you can stock 12 indices of the leading economies in the world, including the FTSE 100, NASDAQ, and S&P 500.

Stocks: XBTFX features more than 100 cryptocurrencies across the US, EU, Russia, and Asia, including Amazon, BNP Paribas, ING Group, and Nestle.

Cryptocurrencies: XBTFX supports 25+ digital-fiat pairs that include major ones like ETH/USD and BTC/USD, to name a few.

Supported trading platforms

XBTFX users have access to three platforms for trading: cTrader, MetaTrader 4, and MetaTrader 5. These platforms are well-known in the industry and are preferred among traders around the world because of their usability and functionality. The platforms are compatible with all major browsers and can also be downloaded to mobile, desktop, and tablet devices.

cTrader: The cTrader terminal offers many benefits, including intuitive charting, support for automated strategies, and level 2 pricing. cTrader also offers fast trade executions along with support for multiple order processes. Users can trade with USDT, ETH, BTC, USD, and XRP account balances.

MetaTrader 4: MT4 is a popular platform for forex traders that offers historical data, multiple timeframes, customizable charts, live news streams, hedging options, one-click order execution, and a user-friendly interface, to name a few.

Other features include:

  • Automated trading
  • 4 pending order types
  • Access to expert advisors
  • 3 order execution types
  • MQL4 programming language
  • 30 built-in technical indicators

MetaTrader 5: MT5 comes with greater efficiency and offers 21 timeframes, trading bots, access to expert advisors, live news streams, more than 100 customizable charts, 35+ built-in technical indicators, and more.

Other features include:

  • Hedging and netting
  • Built-in economic calendar
  • Multi-threaded strategy tester
  • MQL5 programming language
  • Advanced market depth facility

Account types

XBTFX allows users to take advantage of a full range of trading facilities through two primary types of account types: standard and ECN. XBTFX aims to offer flexible trading conditions that match the requirements of both beginner and seasoned investors.

Both accounts require a minimum deposit of $10, zero deposit fees, and the facility to make withdrawals on the same day. Both ECN and standard accounts support the three types of trading platforms: cTrader, MT4, and MT5. Users can also get access to more than 76 FX currencies, along with major cryptocurrency pairs, shares, indices, commodities, and CFDs.

Standard accounts: Standard accounts are ideal for traders who prefer zero commissions as well as trading fees built into the spread. This layout simplifies the process, and instead of having commissions charged at a separate time, it offers traders the benefit of having expenses calculated in the PNL of the trade. Most swing and position traders prefer standard accounts.

ECN accounts: XBTFX features ECN accounts that are zero markup raw spread accounts with a fixed commission of $3.5 per lot per trade. Traders who are willing to separate commissions from trading PLN mostly prefer ECN accounts. Scalpers also opt for ECN accounts to trigger low-timeframe orders with the lowest spread possible. ECN accounts are mainly preferred for short-term strategies and are thus opted for by scalpers.

Despite a few similarities, both of these accounts differ from each other in many aspects.

Feature Standard  ECN
FX, commodities, and CFD fees 0 Commission $3.5 per lot or side
Cryptocurrency fees 0 Commission 0.075% per trade
Spreads From 1 pip From 0.01 pips
Islamic Account Option No Yes

XBTFX also prioritizes beginners on the platform and offers the option to open a demo trading account to trade with virtual currency. This helps novice traders get a real-world trading experience without being exposed to any risk and gives them the opportunity to try out different trading strategies.

Platforms (Trading & Social)

XBTFX provides multiple platforms for trading so that every trader has a platform that suits their trading style and preference. XBTFX provides cTrader, MetaTrader 4 and MetaTrader 5. It also provides a platform for copy trading, as well as PAMM and MAM accounts. 

CTrader

CTrader is a reputed trading platform that offers all the features that novice, as well as experienced traders, need. With a flexible design and a host of powerful trading tools and services, the platform gives an edge to traders when conducting multi-asset trading. With cTrader, XBTFX users get a wide range of API trading options, a comprehensive set of order types and an advanced charting package. It also offers several powerful features specifically designed for crypto trading including margin trading support. 

MetaTrader 4

MetaTrader 4 is a popular trading platform that is offered by many online brokers. However, the MetaTrader 4 platform offered by XBTFX is designed to handle almost all automated and manual strategies. It uses un-tampered real STP market execution through OneZero bridging in their Equinix LD4 London Datacenter. XBTFX’s MT4 only offers ECN USD MT4 accounts to keep things simple with utmost transparency when it comes to fees, conditions, EA compatibility and other account options. 

MetaTrader 5

XBTFX also offers MetaTrader 5, which is the next version of the famed MetaTrader 4 platform. It is packed with advanced features and supports more than 200 instruments including Forex, Indices CFDs, cryptocurrencies, and CFDs on precious metals and energies. Users can use one login for 7 platforms. It supports automatic trading via expert advisors and allows hedging. 

Social Trading

XBTFX provides all aspects of social trading which consists of their copy trading platform, PAMM and NAM accounts. 

Copy Trading

The copy trading platform from XBTFX provides 4 types of automated fee payment, an unlimited number of subscribers for one master, automated risk limits, and detailed statistics for all accounts. 

PAMM

XBTFX Social offers a fully-featured PAMM platform with functions such as manual and scheduled deposit/withdrawal execution, automated investor subscription/subscription, precise allocation, individual investor fees, and MetaTrader 5 ECN USDT accounts. Investors can participate with as little as $30 or as much as $300,000, and the platform will calculate their share in positions and distributedistributes profits accordingly. 

MAM

With MAM accounts, traders and fund managers can manage multiple trading accounts from a single interface simultaneously. XBTFX’s MAM accounts offer several allocation methods such as proportionally by equity, free margin, balance, fixed lot allocation and ratio allocation. 

Withdrawal/deposit methods

XBTFX offers convenient deposit and withdrawal methods for trading. It allows users to take advantage of instant settlement using Digital Ledger Technology (DLT) while also enjoying stable Trade FI products. DLT can reduce costs, risks and intermediaries, improve efficiency, transparency and trust, and create new business models. 

XBTFX’s DLT transactions are monitored using Chainalysis and Bitfury’s Crystal. This allows the platform to detect suspicious tokens from transactions related to illegal activities such as theft, scams, hacks, darknet markets, and money laundering. Before using DLT, users should be familiar with how sidechains work and ensure that funds are not wrongly sent. 

To provide seamless deposits and withdrawals of crypto, XBTFX has formed a partnership with leading cryptocurrency processing and blockchain enterprise wallet providers, registered and regulated in Estonia. It also accepts deposits in Credit and Debit Cards. XBTFX is also in the process of providing card top-ups which are expected to be open by mid-2023. 

XBTFX does not charge any deposit fee for trading and supports same-day withdrawals. Deposits are automatically credited to the XBTFX wallet upon confirmation Users can fund their USD MT4 accounts using any cryptocurrency available for deposit and exchange. Base currencies for MT5 accounts include USD, BTC, Ethereum, Tether, Ripple and DAI.

On XBTFX, traders from around the world except from a few restricted countries come to trade 5 types of markets that are: Cryptocurrency, Forex, Indices, Stocks, and Commodities & Metals. This means, you get a lot of choices to trade with once opening an account.

Key Features

  • Demo account is available at XBTFX for both MT4 and MT5 trading terminals so that new users can practice first. These are most suitable for people who have some doubts about starting on XBTFX.
  • A dedicated educational section is also added to the XBTFX platform to guide and support new users and old. This section is frequently updated to ensure that users have access to all important piece of information including analysis, announcements, guides, etc.
  • Copy trading is another special feature of the XBTFX platform which is perfect for traders with little experience and bigger dreams. XBTFX gives you the opportunity to copy the trades of skilled traders and use it seamlessly on MT5 platform. With copy trading enabled, you can automatically copy positions opened as well as managed by other traders.

User Interface Support

A smooth and easy user interface of a CFD provider and trading platform is one of the most important aspects. Without this, it is somewhat impossible to use any trading terminal to its full potential. This is why XBTFX has incorporated the best user interface as well as a dedicated support system to help out traders. Here’s what makes it unique and worth trying out:

  • It is made completely user-friendly.
  • Navigating through the UI is smooth.
  • The XBTFX interface is multi-lingual.

Fees details

The fee structure on XBTFX is segmented into three categories: standard, ECN, and Islamic. Here’s a short breakdown:

Standard: For Forex, commodities, CFDs, and cryptocurrencies, there is zero commission for standard accounts. However, for share CFDs, XBTFX requires $0.10 and $0.45 per share in the US, EU, and Asia, respectively.

ECN: For ECN accounts, $3.5 per lot is charged to trade FX commodities and CDFs. It is 0.075% per lot per side chargeable to trade cryptocurrency and CFDs. For stock CFDs, it is the same as the standard accounts.

Islamic: XBTFX charges zero commission to trade FX, commodities, and CFDs on Islamic accounts. However, to trade cryptocurrency, you need to pay 0.15% per lot per side in fees. For share CFD, it is similar to standard and ECN accounts.

PROS and CONS
  • XBTFX brings an ECN profile for users around the world. Apart from the ECN account, it also has an Islamic account option for all those who live in sharia-compliant countries can easily use the platform to trade.
  • As mentioned before, the demo account is a huge plus point for XBTFX and its users.
  • In total, there are more than 200 financial instruments including cryptocurrency pairs. This gives global traders a chance to try multiple assets at once in a streamlined way.
  • There are sufficient crypto funding options put in place at the XBTFX platform which means you get to access over 25 different cryptos paired with USD.There are sufficient crypto funding options put in place at the XBTFX platform which means you get to access over 25 different cryptos paired with USD.
  • If you have always wanted to invest in crypto then XBTFX could be a good place to start as it offers crypto investing.
  • Each and every online has their own favorite trading platform that they are used to and that’s why XBTFX platform supports MT4, MT5, and cTrader. Through any of these trading terminals, traders can juggle financial instruments like CFD, Forex, Crypto, Stocks, etc.
  • XBTFX is not available to US residents
  • Fiat account funding is not available on XBTFX.
  • There is no telephone contact option.

Verdict

XBTFX has demonstrated the features needed to be considered one of the leading online brokers with an impressive portfolio of trading instruments. It offers some of the best trading conditions for both novice and expert traders, complemented by its streamlined and navigable interface.

Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Frequently Asked Questions (FAQs)

How is XBTFX regulated?

XBTFX is a legally established entity in Antigua and is registered with the FSRC under the Antigua Barbuda International Limited Liability Companies Act of 2007. XBTFX is not required to hold any financial services license or authorization in Antigua, however, the company's future roadmap includes plans for expansion into a second jurisdiction, where it will seek formal forex broker licensing.

When was XBTFX established?

XBTFX was established in 2019 as an online forex and crypto broker.

How does XBTFX protect client funds?

XBTFX maintains separate cold wallets for company and client funds, which ensures fund transparency and security.