If you want to diversify your portfolio with a safe and minimal risk investment option, the investing and trading in foreign exchange can be an ideal solution. FX trading leverages the difference between values in different currencies. People all over the world engage in FX trade. However, if you are just starting, it may be daunting to participate in foreign exchange trade. This is where a safe and trusted brokerage such as Xtrade for FX trade comes into the picture.
What is the Foreign Exchange market?
Before deciding whether or not you should invest in the foreign exchange market, whether with or without the assistance of a broker, the key aspect that everyone must understand is what the foreign exchange market is. It is an over the counter or OTC marketplace that decides the exchange rate of currencies throughout the world. It is this fluctuation in currencies that those investing in foreign exchange capitalize on.
Currently, it will not be an overstatement to say that the foreign exchange or currency market is one of the largest financial markets in the world. Investing in foreign exchange can be extremely beneficial, and for those who are new to the process, the best method to do so maybe to enlist the help of a distinguished and reputable foreign exchange service broker such as Xtrade.
Introduced in 2010, this FX Brokerage allows you to trade CFDs straightforwardly. The amount of money you make is calculated on the difference between the closing and opening values of the currencies that you plan to trade, the units purchased and the leverage. FX trading on a platform such as Xtrade offers considerable flexibility. Xtrade is headquartered in Cyprus and regulated by the Securities and Exchange Commission of Cyprus (CySEC). The brokerage is operated by Xtrade Europe Ltd, regulated by the Cyprus Securities and Exchange Commission.
Features of Xtrade
- Xtrade allows traders to trade CFDs which is a step forward from the old fashioned MT4 Forex trading systems.
- Various other tradeable assets such as stocks, commodities, and indices have also been included on a single platform. For those who are interested in cryptocurrencies, even a Bitcoin pairing has been included as a part of tradeable currency pairs.
- Traders can choose between 52 currency pairs.
- Wide range of asset choices: As already enumerated above, Xtrade offers a wide range of tradeable assets. There are 52 currency pairs that a trader can choose from, including a BitCoin pairing. Apart from forex, various other traditional asset choices are also provided including stocks, commodities, and indices. Therefore, all of your trading needs can be met on a single platform.
- Educational Resources: various resources for trader education such as information on leverages, how to best capitalize on the gains of trade, basic tutorials are also provided by Xtrade. This is significantly advantageous for those just starting and feels daunted by the newness and the complexity of the process. Even for those who have already been a part of the process, it may be helpful to learn newer nuances, tips, and tricks.
- Safe: Apart from robust encryption norms and security ensuring the financial safety of the traders, the deposits that traders make on Xtrade are also separated from the operating capital of the brokerage up to 20000E and protected by the Investor Compensation Fund of Cyprus. This ensures that not only is your financial information and transactions protected from hackers, phishing, and malware, but also that you can withdraw your deposits any time you like and that the deposits are also protected.
- Easy to use interface and trading platform: The Xtrade trading platform is extremely easy to use, intuitive and user-friendly. Irrespective of whether you are just starting off investing in FX or other assets, or if you have been an expert investor for a considerable period, you will likely find that the website is extremely easy to operate and understand. Furthermore, it does not require any downloads and can be easily accessed on any safe web browser, and is completely online.
- Deposits and withdrawing money: Xtrade offers a wide range of options to deposit funds – a whopping 40 methods! Withdrawals are made to the same source as the initial deposit and are extremely easy and fast as long as the requisite AML documentation is in place. Cashing out is also tremendously easy, and not at all cumbersome. Credit and Debit Cards are supported, and so are wire transfers.
- Customer Support: nothing is more frustrating than a poor customer support team. Perhaps the singularly most important feature that a business can offer to its clients is to provide a robust and active customer support team. With XTrade’s team, you have someone to address your queries at any given point of time and is, therefore, a great asset. You can contact the customer support team of XTrade through multiple methods.