XTrend Speed Trading App is a platform designed for retail investors, particularly those new to trading, to access a range of financial instruments and services. Here's a detailed overview of the app:
- Benefits and Features:
- It offers low investment requirements, starting from $50.
- Supports bi-directional trading, allowing users to buy and sell in both bullish and bearish markets.
- Provides a user-friendly interface for easy navigation and trading.
- Offers negative balance protection, ensuring traders can't lose more than their initial deposit.
- Provides tight spreads and no re-quotes, ensuring a smoother trading experience.
- Offers an innovative PC trading app for more advanced users.
- Allows trading in various liquid markets, including forex, gold, stock futures, and more.
- Promotes a customer-centric approach, aiming to provide an excellent trading experience.
- Ownership and Regulation:
- XTrend Speed is owned by Rynat Capital (Pty) Limited, which is registered and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.
- Customer Reviews:
- The app has received mixed reviews, with some users praising its features and educational resources, while others have raised concerns about scams and withdrawal issues1.
- Trading Conditions:
- XTrend Speed offers standard MT4 accounts and STrader accounts with low minimum deposit requirements.
- Leverage is capped at 1:300, which is typical for regulated brokers.
- Spreads are low, starting from 0 pips on major forex pairs.
- The minimum trade size is 0.01 lots or about $2.
- There is a 3.5% withdrawal fee, which is higher than that of some other brokers.
- Platforms:
- The app provides access to the popular MetaTrader 4 (MT4) platform and its own STrader platform.
- The MT4 platform offers advanced charting tools, technical indicators, and automated trading strategies.
- The STrader platform focuses on low minimum trade sizes and social/copy trading functionality.
- The Xtrend mobile app is a simplified version for on-the-go trading with a limited asset selection.
- Product Offerings:
- XTrend Speed offers a range of over 150 instruments across forex, stocks, indices, commodities, and cryptocurrencies on the MT4 and STrader platforms.
- The stock CFD selection is relatively small compared to other brokers, and the Xtrend mobile app has a more limited selection.
- Research and Education:
- The broker provides basic research materials, news, and economic calendars.
- There is no comprehensive trading course for beginners, and customer support has received mixed reviews.
In conclusion, XTrend Speed Trading App is a regulated platform that provides a range of trading options and educational resources for retail investors, particularly those new to the market. While it offers competitive trading conditions, it may not be suitable for those seeking a wide range of stock CFDs or advanced trading tools.
9/8/2024 11:39am
