XBTFX Forex Review

Read our full XBTFX review to get exact details about their safety, accounts, spreads, platforms, assets, support, and many more. Our unbiased XBTFX opinion allows our readers to decide whether XBTFX is a reliable broker.

XBTFX Forex Broker History

XBTFX is a regulated Forex and CFDs broker that offers access to diverse markets such as Forex, Crypto, Commodities, Precious Metals, Energies, and Equity Indices. The broker has been around since 2019, making it relatively experienced in the Forex trading industry. The broker allows both desktop and mobile trading and offers access to advanced platforms, cTrader, and MT5. There are several trading accounts, including ECN and standard. The broker allows EAs and has copy trading services as well. The leverage is up to 1:500, and traders can start trading from as low as 10 dollars, which is competitive.

XBTFX broker safety

When it comes to safety, XBTFX is a regulated broker by the Financial Services Authority (FSA). In Seychelles, the company is incorporated and regulated as XBTFX (SC) Ltd. The broker is also registered and incorporated as XBTFX LLC in Antigua & Barbuda, where it is not required to hold a regulatory license to offer its products and services. With only one regulatory license, the company is not very reliable, but there are no negative reviews by traders on the web, indicating that it is not a scam.

Trading services provided by the broker rely on liquidity providers that are regulated in Cyprus, Mauritius, and Seychelles. Payments are processed by CLEARAY LTD, a Limited Liability Company, which is incorporated and registered in Cyprus.

XBTFX Broker Review of Accounts

When it comes to trading accounts, the broker offers 2 account types under the XBTFX (SC) Ltd and 2 more under the Antigua & Barbuda jurisdiction. There is also an Islamic trading account offered, which is flexible. The ECN and standard accounts are offered under Antigua and Barbuda, and ECN and ECN Gold under the Seychelles regulations. Both ECN accounts are the same and offer exactly the same trading conditions, so we only review one ECN account.

XBTFX ECN Account

The ECN account is designed for low spread trading and offers 0 pips spreads but charges commissions. Here are the main specs of this account:

• Minimum deposit – 10 USD
• Maximum leverage – 1:500
• Spreads from – 0.01 pips
• FX, commodities, and CFDs Commissions – $2.75 / lot/side
• Crypto fees – 0.05% per deal
• Share CFD, per share – USA: $0.10, EU, ASIA: 0.45%
• Expert Advisors – Yes
• All trading styles allowed – Yes
• Minimum lot size – 0.01 lots
• Islamic account option – Yes

As we can see, the commissions are competitive, and this account is suitable for scalpers or traders who trade on intraday timeframes.

XBTFX Standard Account

The standard account is for general trading purposes and offers competitive conditions without commissions, unlike the ECN account. Here are its specs:

• Minimum deposit – 10 USD
• Maximum leverage – 1:500
• Spreads from – 1 pip
• FX, commodities, and CFDs Commissions – Zero Commission
• Crypto fees – Zero Commission
• Share CFD, per share – USA: $0.10, EU, ASIA: 0.45%
• Expert Advisors – Yes
• All trading styles allowed – Yes
• Minimum lot size – 0.01 lots
• Islamic account option – No

This trading account is more suitable for day traders who use swing trading and trend trading strategies.

XBTFX ECN Gold Account

The ECN Gold account is under the Seychelles jurisdiction and is for VIP clients and experienced traders because it has a very high minimum deposit requirement of 25,000 USD. All other specs are similar to other ECN accounts. Here are its specs:

• Minimum deposit – 25,000 USD
• Maximum leverage – 1:500
• Spreads from – 0.01 pips
• FX, commodities, and CFDs Commissions – $2.75 / lot/side
• Crypto fees – 0.05% per deal
• Share CFD, per share – USA: $0.10, EU, ASIA: 0.45%
• Expert Advisors – Yes
• All trading styles allowed – Yes
• Minimum lot size – 0.01 lots

This trading account is built using ECN execution technology and offers low spread trading, which is very attractive for experienced scalpers.

XBTFX Islamic Accounts

The Islamic account is provided for the ECN accounts and is useful for Sharia law followers. It offers swap-free trading possibilities and has super-low spreads, which are competitive. However, trading commissions apply.

XBTFX Demo Account

The demo account enables traders to check XBTFX conditions or build trading strategies. It is also necessary for beginner traders to gain practical experience and trading skills.

XBTFX instruments

XBTFX offers access to a diverse set of trading assets such as FX pairs (over 80 pairs including majors, minors, and exotics), commodities (metals and energies included), popular equity indices, cryptos, and even shares. Crypto trading is provided via CFDs, making it possible to execute trades faster. With up to 1:500 leverage, traders can control large trading positions, which amplifies potential profits but increases risks as well.

XBTFX Reviews of Trading Platforms

The broker provides access to two popular advanced trading platforms, cTrader and MetaTrader 5 (MT5). MT5 is the latest generation of trading platform developed by MetaQuotes, and XBTFX supports both custom indicators and Expert Advisors (EAs), which is flexible. Mobile trading is available via the mobile apps of cTrader and MT5, and is accessible on both Android and iOS devices. There is also a webtrader version of MT5, and the broker offers MAMM and PAMM accounts.

XBTFX Forex Review of Extra Features

From extra features, the broker offers an economic calendar, copy trading services, and a trading blog. The economic calendar is free and allows traders to constantly monitor fundamental news, which is very useful. The trading blog has a dedicated page where traders can get market insights, news, and expert opinions.

Educational resources are also in the trading blog and offer basic learning materials such as articles. These articles provide basic learning only and can not be used to replace comprehensive education, such as webinars and video guides.

XBTFX Reviews of Customer Support

Customer support is one of the most important factors in financial trading, and XBTFX offers several channels, including live chat, email, and multiple phone numbers. Traders can select between several different email options depending on their issue, and two phone numbers are available depending on the jurisdiction. The availability of phone support is an important aspect and makes the broker even more reliable. However, both support and the website are only available in the English language, which is a minor drawback. Traders can switch back and forth between Seychelles and Antigua and Barbuda for live chat support.

XBTFX Deposit and Withdrawal

There are several payment methods available for traders, including wire transfers, Volet, Sticpay, Skrill, and plenty of different cryptocurrencies. From supported cryptos, there are Bitcoin, ETH, Tether, USD Coin, LTC, Doge Coin, and Ripple. The broker claims fast withdrawals, but there is no indication of real processing times, which is a downside. Deposits are instant, and traders can also use crypto wallets for crypto deposits.

XBTFX Review Conclusion – Can you trust XBTFX?

XBTFX is a regulated CFDs and Forex broker that also offers access to shares and cryptos. There are advanced trading platforms offered, and diverse account types. The broker holds a Seychelles FSA license and is also incorporated in Antigua and Barbuda without a license. The broker offers mostly transparent trading conditions, and there are ECN accounts with low spreads and standard accounts from 1 pip. With the leverage of up to 1:500 and a minimum deposit of 10 USD, traders can start trading with even a low budget. The broker is suitable for both beginner and experienced traders.

FAQs on XBTFX

Is XBTFX a scam?

XBTFX scam is highly unlikely as the broker offers transparent trading conditions and discloses all information on its website coupled with a license from FSA.

What is the XBTFX minimum deposit?

The minimum deposit at XBTFX starts from 10 USD on both standard and ECN trading accounts, which is low.

Is XBTFX a cheap broker?

The broker offers a minimum deposit of 10 USD, spreads from 0 pips, and there are competitive commissions charged at $2.75 / lot/side, making it a cheap broker.