XCFD Review

MIN. DEPOSIT $10
Up to 200:1
Up to 100% BONUS
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XCFD
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Overview

Company Information xCFD is a New Zealand brokerage which started its operations in 2013. The company owning the brand is xCFD Ltd. The company’s headquarters are located in Auckland, New… more

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Details

BrokerXCFD
Website URLhttps://xcfd.com/en/
Founded2013
HeadquartersAuckland, 1149, New Zealand
Support Number+64 980-10-387
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Russian, Spanish, Chinese, German, Italian, Arabic, Dutch, Indonesian, Portuguese, Polish
Minimum 1st Deposit$10
Minimum Trade Amount0.01 lots
BonusUp to 100%
PayoutUp to 200:1
Free Demo AccountYes
Regulated Yes
Account TypesLive Demo
Deposit MethodsVisa, MasterCard, Maestro, American Express, Diners Club, JCB, Wire Transfer, Skrill, Webmoney, Neteller, Giropay, Sofort, China UnionPay, Bitcoin
Withdrawal MethodsVisa, MasterCard, Maestro, American Express, Diners Club, JCB, Wire Transfer, Skrill, Webmoney, Neteller, Giropay, Sofort, China UnionPay, Bitcoin
Types of AssetsForex, Indices, Stocks, Commodities
Account CurrencyUSD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

xCFD is a New Zealand brokerage which started its operations in 2013. The company owning the brand is xCFD Ltd. The company’s headquarters are located in Auckland, New Zealand, but they also have an office in Nicosia, Cyprus. This is a fully regulated broker licensed with the FPA in New Zealand. Despite the short history of this broker, it’s evident that they aim to expand their services in Europe and Asia. xCFD has already won a couple of awards from prestigious magazines and expos. In 2014 the broker won the award for “Best CFD Broker” in the popular China Forex Expo. In 2014 the company won the “Best Retail FX Broker” award at the Mena expo. And again, in 2015 it was named by FXEmpire as the “Best Trading Platform”. So, in just a couple of years, this New Zealand broker has already drawn the attention of many traders around the world. With it, stellar trading experience and its specialized trading platform xCFD is a company that can be expected to succeed even further. Let’s see what accounts and trading conditions can this platform offer.

 

Trading Information

 

At the time of writing this review, xCFD offers only one type of account called the “Standard.” This account type is suitable for beginner and expert traders. It has a relatively low deposit requirement of $100. The minimum position size is 0.01 lots, and the number of currency pairs offered is 38. Trading instruments offered are Forex, Binary Options, Stocks, Indexes and Bonds. Leverages go from 1:100 for Forex, 1:50 for Bonds, 1:20 for Indexes to 1:10 for Stocks. Scalping is allowed but hedging is not allowed, and expert advisors are forbidden. Spreads are variable and can go as lows as 0,1 pips for majors. Typical spreads for EUR/USD go around 0,5 pips. Margin call and stop-out levels are set to 110%. Swap-free accounts are available. MAMM and PAMM account are not supported. As you can see the company is not offering all of the modern trading features but has all the main features that a trader uses in his daily trading. They will surely expand their trading instruments and account options in the future, but even with such a little variety, they’ve already acquired many clients.

 

Trading Platforms

 

It’s very nice to see when a brokerage company doesn’t follow the established trends and tries to do thing differently. This is the case with xCFD where the company has not chosen the already outdated (but still very stable) MT4 and went with their custom design. The xCFD platform is perfect for beginner traders. It’s quite easy to use and offers the opportunity to trade with all instruments using just one account. It’s stable, offers a lot of speed and bugs are fixed fast due to the constant care of xCFD’s software engineering team. Speed is of the utmost importance when trading and the platform does a great job. Thinking about innovation made the people at xCFD think about an option to trade with bitcoins. Well, their efforts have not been in vain and now all traders who want to use the bitcoin currency can do it at xCFD. As you know, the MT4 has always been lacking the option of a WebTrader platform. This is not the case with xCFD’s trading platform. You can access it from any device without the need for additional downloads and installation. You can also test it whenever you want with a simple registering process that requires your email.

 

Security and Customer Services

 

Security at xCFD is at the top level. The software team has implemented a secure SSL encryption on their website to protect all personal data. It means that your personal details can’t be stolen and are available only to the company’s employees. The company is fully licensed which ensures that your funds will be safe, if, by chance, anything happens to company’s funds. The lack of a segregated account is a bit of a disappointment, but it seems it’s not that big of a deal for most traders. Customer support is at its best. There is 24/5 coverage of the customer care team, and you can get answers fast. There are a couple of phone numbers available for domestic and international clients. Other ways to contact the customer care team is by fax, email or using the Live Chat platform. The website is translated in more than ten major languages which makes thing much easier for clients. Once you make an account and get aces to the platform, you will find a lot of educational materials. They’re great for beginner traders and can teach them a lot about trading terms and conditions.

 

Deposits and Withdraws

 

Funding your xCFD account is made easy with plenty of money transfer methods available. There are more than ten deposit options available, and most of them are instant. There is no indication on their site about fees and charges, but you can assume that there aren’t any. The minimum deposit amount has been reduced from $100 to just $10. This gives you the opportunity to test the platform without risking a lot of funds. To withdraw your funds, you first have to confirm your identity by sending a picture of your ID or driver’s license. Once your identity is confirmed, you can withdraw the money using whichever methods you like. Once again, there is no indication on withdrawal fees, so you can safely assume that xCFD doesn’t have any.

 

Deposit Bonus and Loyalty Programs
There are a lot of promotions at xCFD which makes it a perfect website for people who look for flashy bonuses. The first one is their 50% welcome bonus on every new account made. You just need to register an account and claim the bonus after your first deposit. There is also a “No deposit” bonus that can be given to every new client regardless if they make any deposit afterward. And last but not least, there is a great “Refer a friend” bonus of $600 for every person you invite to make an account on the platform.

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