xCFD Review: New Player on the Forex Market

This xCFD Review is aimed at familiarizing traders with the services and options provided by this recently established broker company. xCFD managed to provide a safe and secure trading environment for its clients in a very short period.

Establishment and Regulation

xCFD was established in New Zealand in 2013. The company possesses the FSC (Financial Services Complaints) license. The FSC is the independent body for resolving disputes in the non-bank financial sector and acts as the supreme authority in the Forex market in New Zealand. They make sure that law and order are respected and maintained. One of the essential parts of Forex trading is the platform. Now let’s see what xCFD has to offer in that regard.

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xCFD Trading Platforms

xcfd logoAll trading starts and ends with the trading platform. xCFD does not follow the masses given that they do not offer the renowned MT4. They, on the other hand, rely on a self-designed in-house platform. In-house platforms are known to be more intuitive and convenient for customers. What makes the xCFD platform special is that it has been designed to enable multi-assets trading from one account. Each user has an individual portfolio that makes it possible to trade stocks, currencies, securities, etc., from a single account. The infrastructure was developed to enable the highest standards of security. Suitable for Mac, Windows, and Linux, the platform is browser-based and can be accessed with no downloads. Not all platforms offer scalping and hedging, but the xCFD does. Both options are risk- reduction tactics. In contrast to the MT4, the xCFD platform does not offer automated trading or SMS and e-mail warnings. This means that you can freely trade or learn to trade without any suggestions, and the responsibility is in your hands. The in-house platforms become more and more popular among broker companies, and xCFD can be called a trendsetter in this matter. As a trendsetter, xCFD does not lag behind others and provides a downloadable xCFD mobile app for all those investors and traders who want to trade around the clock.

One Account to Rule Them All

XCFD stays true to the rule of simplicity. There is only one type, i.e. the xCFD Universal live account for all users, besides the Demo account. The Demo Account is free (just like traders are used to) and is an option for beginners who need to learn how to operate the platform features, their accounts, and trades. The Demo Account is like a game where you get virtual money to play with. Even if you lose, your real money stays in your pocket because you did not invest any (yet). Many traders seek out brokers with low spreads and xCFD offers some of the lowest spreads on the market with no commissions or fees charged. This is one of the reasons they are so popular with investors. They offer major, minor and exotic currency pairs, with major ones being the most traded (because of the low spreads). For example, for major currency pairs like the EUR/USD, the spread is around 0.5, which is extremely low. Similarly, the leverage is also low if compared to other offers, i.e. 1:200. This is a decent leverage offer, but some may be used to higher leverages. Lower leverages always mean a lower risk of loss.

Bonuses

To register with the xCFD Live Account, you are required to deposit only a minimum of $10. Your first deposit will be rewarded with a 50% bonus. Prior to that, you can get the $30 no deposit bonus. You can already assume that the bonuses depend on the trading size and your deposit amount.

xCFD Banking Options

xCFD processes withdrawal requests within 48 hours. This is an aspect where they show great responsibility and pay on time with no delay. If you earn a profit, they will make sure that it is safely transferred to your account after you make a withdrawal request. No fees are charged on deposits or withdrawals on the part of xCFD. Third party fees might be included independent of the broker. XCFD accepts the following payment methods: wire transfer, credit cards, Skrill, Moneta.ru, CashU, WebMoney, Neteller, and even Bitcoin.

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XCFD Customer Support

An efficient customer support is very signifficant given that it is the link between clients and the broker company. Many clients feel safer with a broker who maintains a high-quality customer support. The main characteristics include competence, availability, a fast reply system, and politeness. The xCFD customer support employees are trained and qualified for the job. They will know how to help you with any questions and concerns regarding depositing, withdrawals, account registration, trading platform, and much more. They are available 24/7, which means that you contact them even on weekends. They are available via live chat, e-mail, and phone, and the company also sends out regular newsletters to keep you in the loop. The xCFD customer support is available in three languages so far: English, Russian, and Chinese. They are known for efficiency and politeness. If you want a broker with an impeccable reputation, xCFD is the broker to go to. The company established a great reputation very quickly through professionalism and a serious and fair approach to the business, so you will be in good hands.

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