XtreamForex Is An Online Forex Trading Platform That Offers Multiple Trading Tools Such As Forex, Cryptocurrencies, Indices And Stocks. XtreamForex Offers Multiple Account Types Such As Micro, Standard, ECN, ECN PRO And VIP To Cater To Different Experiences And Investment Preferences.
Pros & Cons
XtreamForex Offers Multiple Trading Tools Such As Forex, Cryptocurrencies, Indices And Stocks And Offers Different Account Types To Cater To Various Trading Preferences And Experience Levels. It Offers Leverage Up To 1:1000, Uses Popular Trading Platforms (MT4 And MT5), And Provides Trading Tools And Educational Resources. However, Currently It Has No Effective Regulation.
Is XtreamForex Legal?
XtreamForex Is In A Grey Area In Terms Of Regulation And Lacks Recognition From Financial Regulators, Which Raises Concerns About Transparency And Accountability. Lack Of Proper Supervision, There Is A Higher Risk Of Fraudulent Activities And Unfair Trading Practices, Which May Pose A Latent Risk To Clients' Funds.
Market Tools
Forex:
Forex (Forex) Is An Over-the-counter Market In Which Traders Can Buy, Sell, Exchange And Speculate On Currencies. XtreamForex Offers A Variety Of Forex Trading Products That Enable Traders To Participate In The Currency Market. Currency Pairs Available Include AUDCAD, AUDCHF, AUDJPY, AUDNZD And AUDUSD Among Others. Each Currency Pair Has Specific Trading Specifications Such As Lot Size, Decimal Places, Margin Ratio, Swap Rate And Spread.
Cryptocurrencies:
Cryptocurrencies Are Digital Currencies That Exist In Distributed Systems Such As Blockchain. XtreamForex Offers Trading Opportunities For Popular Cryptocurrencies Such As Bitcoin, Ethereum, Etc. Traders Can Buy And Sell These Cryptocurrencies On The Platform. Trading Products For Cryptocurrencies Include BTCUSD, ETHBTC, LTCUSD, EOSUSD, Etc. Each Cryptocurrency Has Its Own Trading Specifications Such As Contract Size, Minimum Trading Volume, Decimal Places, Margin Ratio, Swap Rate And Spread.
Indices:
Indices Represent The Price Performance Of A Group Of Stocks From A Certain Market, Providing Traders With The Opportunity To Participate In The Overall Economy Through A Single Position. XtreamForex Offers Multiple Indices For Trading, Including AUS200, ESP35, EUSTX50, FRA40, UK100, GER30, JPN225, NAS100, SPX500, US30, HKG50, Etc. Each Index Has Specific Trading Specifications, Such As Contract Size, Minimum Trading Volume, Decimal Places, Margin Ratios, Swap Rates, And Spreads.
Stocks:
Stocks Represent Ownership Shares In A Company, Providing Traders With The Opportunity To Invest In Various Globally Renowned Companies. XtreamForex Offers Multiple Stocks For Trading, Including Apple, Amazon, Facebook, And Others. Each Stock Has Its Own Trading Specifications Such As Contract Size, Minimum Volume, Decimal Places, Margin Ratio, Swap Rate And Spread. Trading Hours For Stocks Vary Depending On The Specific Stock And Are Open During The Specified Server Hours.
Account Types
The Micro Account Is For Beginners Or Traders Who Prefer To Start With A Smaller Investment. The Minimum Deposit Requirement For This Account Is 5 Dollars And Is Suitable For A Wide Range Of Traders. It Offers A Starting Spread Of 1.2 Pips And Does Not Charge Any Commission For Trading. The Maximum Available Leverage Is 1:1000, Allowing For Higher Market Exposure.
The Standard Account Is For Intermediate Traders And Has A Minimum Deposit Requirement Of 250 Dollars. The Starting Spread Is 1 Pip And Does Not Charge Any Commission. Maximum Leverage Is 1:400, Providing A Balance Between Risk And Potential Reward.
The ECN Account Is Intended For More Experienced Traders With A Preference For Direct Market Access. The Minimum Deposit Requirement Is $250, Providing A Raw Spread, I.e. The Spread Is Based On The Actual Market Price. However, A Commission Of $7 Is Charged Per Lot Traded. Maximum Available Leverage Is 1:400.
The ECN PRO Account Offers A 0 Pip Starting Spread, A Minimum Deposit Requirement Of $5,000, And Offers The Same Features As The ECN Account, But With A Lower Commission Of $5 Per Lot Traded.
The VIP Account Also Offers A 0 Pip Starting Spread, A Minimum Deposit Requirement Of $20,000, And Offers An Unlimited Maximum Volume With A Commission Of $1.
In Addition, XtreamForex Offers An Islamic Account Option For Clients Of The Muslim Faith, Applicable To The Three Account Types Mentioned Above. Islamic Accounts Comply With Sharia Law And Offer Interest-free Trading, Allowing Traders To Hold Positions Overnight Without Incurring Interest Fees.
In Addition, XtreamForex Also Offers A Demo Account. This Allows Traders To Practice And Become Familiar With The Platform's Features And Trading Strategies Without Taking Real Risks. Demo Accounts Are A Valuable Tool For Traders To Test Their Skills And Build Confidence Before Transitioning To Live Trading.
Leverage
XtreamForex Offers Its Traders Leverage Of Up To 1:1000. Leverage Is A Tool Offered By Forex Brokers That Allows Traders To Control Larger Positions With Less Money. A Leverage Ratio Of 1:1000 Means That For Every Unit Of Money Invested, A Trader Can Control 1000x The Position.
Spreads And Commissions
XtreamForex Offers Different Types Of Accounts With Varying Spreads And Commissions. Spreads For Micro Accounts Start At 1.2 Pips With No Commission. Spreads For Standard Accounts Start At 1 Pip With No Commission. ECN Accounts Offer Direct Market Access With Raw Spreads And $7 Commission Per Lot. Spreads For ECN PRO Accounts Start At 0 Pips With $5 Commission Per Lot. VIP Accounts Offer Spreads Starting At 0 Pips With Unlimited Trading Volume And $1 Commission.
Deposits And Withdrawals
XtreamForex Offers A Variety Of Deposit Methods To Suit Different Preferences And Needs. These Options Include Visa, Bitcoin, Neteller, Skrill, Wire Transfer, Master Card, Online Naira, Pay Trust, And Help2 Pay. There Are No Fees For These Payment Methods Using XtreamForex, Which Is Advantageous For Traders. The Minimum Deposit Amount Varies Depending On The Method Chosen, Ranging From $5 To $500, While The Maximum Deposit Amount Is Usually Up To $10,000, Or Unlimited In The Case Of Telegraphic Transfer.
For Visa, Bitcoin, And Master Card Deposits, The Processing Time Is Relatively Fast, And The Funds Will Be Deposited Into The Trading Account In A Maximum Of 10 Minutes. Neteller, Skrill, Online Naira, Pay Trust And Help2 Pay Offer Instant Deposit Functionality. However, It May Take 2-7 Business Days For Telegraphic Transfer Deposits To Be Reflected In The Trading Account.
Trading Platform
XtreamForex Offers Its Clients Two Widely Known And Popular Trading Platforms: MetaTrader 4 (MT4) And MetaTrader 5 (MT5). These Platforms Enjoy A High Reputation Within The Industry And Offer Traders Advanced Tools And Features That Enhance The Trading Experience.
MetaTrader 4 (MT4) Is Known For Its Wide Usage And Is Considered One Of The Most Popular Trading Platforms Worldwide. It Offers A User-friendly Interface And Comprehensive Trading Tools, Including Customizable Charts, Technical Indicators, And Automated Trading Features. Traders Can Access MT4 On Both Desktop And Mobile Devices.
MetaTrader 5 (MT5) Is An Advanced Trading Platform That Builds On The Success Of MT4. It Offers Additional Features That Meet The Needs Of More Experienced Traders. With MT5, Traders Can Access A Wider Range Of Markets, Including Stocks And Futures, In Addition To The Foreign Exchange Market. The Platform Offers Advanced Charting Tools, Multiple Time Frames, And A Built-in Economic Calendar, Enabling Traders To Make Informed Trading Decisions.
Trading Tools
The Trading Tools Offered By XtreamForex Include A Range Of Useful Features To Enhance Traders' Decision-making And Risk Management Capabilities. One Such Tool Is The Forex Holiday Calendar, Which Provides A Comprehensive List Of Global Holidays That May Affect Forex Trading. This Allows Traders To Strategize And Adjust Their Positions Accordingly.
Customer Support
XtreamForex Offers Customer Support Services Through A Number Of Channels To Help Traders With Issues And Concerns. One Of These Is Email Support, Where Customers Can Contact The Company By Sending An Email To The Support@xtreamforex.com. This Approach Allows Users To Communicate Issues Or Problems In Writing, Providing A Record Of Correspondence.
In Addition To Email Support, XtreamForex Provides A Phone Number + 35796750500 For Clients To Contact Its Support Team. This Direct Way Of Communication Enables Traders To Seek Help And Get Instant Responses To Their Questions. Phone Support Is Particularly Beneficial For People Who Prefer Verbal Communication Or Have Urgent Matters That Need To Be Addressed Immediately. In Addition, XtreamForex Offers A Live Chat Feature On Its Platform That Allows Users To Communicate In Real Time With Customer Support Representatives.
Conclusion
In Conclusion, XtreamForex Is An Unregulated Broker That Offers A Wide Range Of Trading Instruments And Account Types. Traders Should Exercise Caution And Carefully Consider The Associated Risks Before Trading With An Unregulated Platform Like XtreamForex.
