XTRADE

Overview of XTRADE

XTRADE was founded in 2015 in Belize. The company is unregulated. It is a cryptocurrency exchange that offers maximum leverage of 1:100. It supports a variety of trading platforms, including web, mobile, and API. The exchange accepts payment through bank transfer, credit/debit card, and e-wallets. XTRADE charges a trading fee of 0.02% - 0.06%, which is relatively low compared to other cryptocurrency exchanges. The available cryptocurrencies on XTRADE include Bitcoin, Ethereum, Litecoin, and Tether.

Pros and cons

Pros:

XTRADE boasts a range of compelling advantages that set it apart in the world of cryptocurrency trading. At the core of its appeal is its automated trading platform, which harnesses advanced algorithms to execute trades with precision and efficiency, relieving users of the need for constant manual intervention. This is complemented by an intuitively designed user-friendly interface, ensuring that both seasoned traders and newcomers alike can navigate and utilize the platform with ease. Furthermore, the system stands out for its exceptional liquidity, providing users with the confidence that their trades can be executed swiftly and without hindrance. Adding to its appeal, XTRADE offers an extensive selection of cryptocurrencies, allowing traders to diversify their portfolios and capitalize on a wide range of investment opportunities within the crypto landscape.

Cons:

Certain users have encountered challenges with their customer support, citing prolonged response times. Another aspect worth noting is its limited availability, stemming from regulatory constraints in specific jurisdictions that prevent its accessibility in certain countries. Additionally, XTRADE's educational resources, while available, may not be as extensive as those offered by other exchanges. This could be a drawback for users who are new to cryptocurrency trading and are looking for more comprehensive educational materials. Another significant downside of XTRADE is that it is unregulated. This could potentially give rise to concerns about user protection and the platform's commitment to industry norms. Traders who value a regulated setting might have reservations due to the absence of oversight, potentially affecting their overall confidence in the platform's operations and security protocols.

Regulatory Authority

XTRADE operates under no regulatory authority according to the latest information addressed on WikiBit.

Unregulated exchanges do not have the same level of oversight and accountability. This can pose risks for traders, as there may be a lack of safeguards in place to protect against fraudulent activities or market manipulation. Additionally, unregulated exchanges may not have proper mechanisms to handle disputes or provide recourse for users in case of issues or losses.

Security

XTRADE positions itself as a cryptocurrency exchange prioritizing high-security measures, yet several concerns persist. Notably, there is an absence of transparent information regarding the platform's team and regulatory oversight. Furthermore, negative online reviews have surfaced about XTRADE. The exchange emphasizes security through features like Two-factor authentication (2FA) that adds an extra layer of login security, cold storage for offline cryptocurrency storage, and industry-standard encryption for safeguarding user data.

However, these security provisions are not immune to vulnerabilities. 2FA can be bypassed if the user's phone is compromised, cold storage remains susceptible if physical storage security is compromised, and encryption can be breached under the right hacking circumstances. Thus, while XTRADE promotes security, users must remain cautious and informed about the potential limitations of these measures.

Cryptocurrencies Available

XTRADE presents a platform enriched with an array of 16 cryptocurrencies available for seamless trading. The carefully curated selection includes established giants like Bitcoin (BTC) and Ethereum (ETH), as well as pivotal players such as Bitcoin Cash (BCH) and Litecoin (LTC). Ripple (XRP) and EOS (EOS) add to the diversity, alongside stablecoin Tether (USDT) and exchange token Binance Coin (BNB). The offering extends to encompass Cardano (ADA), Dogecoin (DOGE), and emerging contenders like Polkadot (DOT) and Cosmos (ATOM). Chainlink (LINK), Uniswap (UNI), and The Graph (GRT) cater to more specialized interests, while Solana (SOL), Terra (LUNA), and Avalanche (AVAX) complete this comprehensive collection, ensuring a robust spectrum of choices for traders of varied strategies and risk appetites.

How to open an account？

The process is easy - access the website, complete the registration process in 3 quick steps, and start trading as below.

Fees

XTRADE charges a trading fee of 0.02% - 0.06%, which is relatively low compared to other cryptocurrency exchanges. The maker fee is 0.02%, and the taker fee is 0.06%.

Payment Methods

XTRADE does not charge any fees for deposit/withdrawal processing. However, for banks and/or intermediaries banks, processor's fees may apply. XTRADE does not accept any responsibility for such fees.

XTRADE supports multiple payment methods, including bank transfers, credit/debit cards, and e-wallets. These payment methods provide users with flexibility and convenience when funding their accounts and trading transactions on the platform.

Withdrawal requests take up to five business days to process. Delays beyond our control might occur due to third-party withdrawal payment methods (i.e. credit card company, the wiring bank or intermediary banks which delay transfers, in extreme cases, of up to 3 weeks).

Educational Resources

XTRADE provides educational resources and tools to assist users in their cryptocurrency trading journey. These resources may include articles, tutorials, and guides that cover various topics related to cryptocurrency trading, such as market analysis, technical analysis, and trading strategies. Additionally, XTRADE may offer tools such as price charts, trading indicators, and other analysis claim to help users make informed trading decisions. These resources and tools aim to provide users with the necessary knowledge and tools to improve their trading skills and make more informed trading decisions.

Is XTRADE a Good Exchange for You？

XTRADE presents an array of enticing advantages that make it a notable contender in the cryptocurrency trading landscape. One of its standout features is its automated trading platform, which employs sophisticated algorithms to carry out trades accurately and efficiently, freeing users from the constant need for manual involvement. This strength is further enhanced by an intuitively designed user-friendly interface, catering to both seasoned traders and newcomers, ensuring a smooth navigation and utilization experience. The platform's exceptional liquidity is another highlight, instilling users with the assurance that their trades can be executed swiftly and seamlessly. The wide variety of cryptocurrencies available on XTRADE empowers traders to diversify their portfolios and seize opportunities across the dynamic crypto market.

Conclusion

While XTRADE offers a range of alluring features, it's important to acknowledge certain drawbacks. Some users have reported encountering delays in customer support responses, which can be a concern for those seeking prompt assistance. Additionally, XTRADE's reach is limited due to regulatory constraints in specific regions, restricting accessibility in certain countries. The platform's educational resources, although present, might not match the depth offered by other exchanges, potentially affecting newer traders seeking comprehensive learning materials. An unregulated status is another significant drawback, raising questions about user safeguards and adherence to industry standards. Traders who prioritize regulated environments may hesitate due to the lack of oversight, possibly impacting their confidence in the platform's security measures and operational integrity.

FAQs

Q: Can I trade NFTs？

A: No, you cannot trade NFTs on XTRADE.

Q: Where is my money stored？

A: Your money is stored in cold wallets.

Q: What kind of rewards can users earn？

A: XTRADE offers a loyalty program that rewards users for trading on the platform. Users can earn points for every trade they make, and these points can be redeemed for a variety of rewards, such as cash back, discounts, and airdrops.

Q: What countries are restricted？

A: The United States, Canada, China, Iran, North Korea, and Sudan.

Q: Does it require KYC？

A: Yes, XTRADE requires KYC.

User Review

User Review 1: “I've been using XTRADE for a while now, and I'm quite impressed with their automated trading platform. It takes the stress out of manual trading, executing trades accurately and efficiently. However, my experience with customer support hasn't been the best. Prolonged response times were frustrating when I needed help. On the plus side, the user-friendly interface made navigation a breeze. But I found out they're not available in my country due to regulations, which is disappointing. The exceptional liquidity and diverse range of cryptocurrencies offered are definite pluses though.”

User Review 2: “XTRADE is a mixed bag for me. The automated trading platform works like a charm, saving me time and effort. However, their customer support needs serious improvement – waiting ages for responses isn't ideal. I appreciate the user-friendly interface; it's intuitive for traders of all levels. Sadly, XTRADE is off-limits in my country, so it's a no-go. On the bright side, the platform offers exceptional liquidity, ensuring smooth trades. I wish their educational resources were more extensive though. Lastly, the unregulated status raises concerns about safety and trustworthiness.”

recommend it.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.