XTrend Speed provides a blend of traditional platforms alongside social and mobile trading options. XTrend Speed, despite its allure, presents a heightened risk profile. Numerous clients express dissatisfaction with XTrend Speed’s performance, prompting caution. Traders Union experts have thoroughly examined the trading opportunities it offers. For more information, keep reading.
XTrend Speed analyze
Clarity regarding the brands is essential. Two distinct entities, Rynat Capital and Rynat Trading, exist. Although registered in separate jurisdictions, they share a common corporate mark. Rynat Capital possesses the rights to the XTrend Speed brand and operates as a traditional broker with a website relatively lacking in detail. On the other hand, Rynat Trading controls the XTrend brand, featuring a mobile trading platform that supplements the information absent on the XTrend Speed website. Both websites suggest a close association between XTrend Speed and XTrend.
The company facilitates trading in over 150 assets across two platforms: MT4 and STrader. MT4 supports custom indicators and algorithmic trading, while STrader emphasizes social trading.
XTrend Speed review by Traders Union experts, yields a respectable 4 out of 5 rating, indicating a solid effort by the developers to provide a budget-oriented trading product. However, there is room for improvement in refining both the platform and concept. The broker prioritizes mobile trading, positioning itself as a Micro Trading application for individuals who prefer trading on the go. To delve deeper into its features and offerings, learn more.
Advantages and disadvantages
When considering XTrend Speed as a trading platform, it’s imperative to weigh its pros and cons. Below are the essential features to assist in making a well-informed decision.
Advantages:
- Low initial deposits: XTrend Speed allows for a minimum deposit starting from $10, while the mobile XTrend platform requires a minimum of $50 to get started.
- Utilization of the popular MT4 platform: ideal for active traders, coupled with a straightforward mobile platform designed for novice investors who prefer less active trading strategies.
- Social trading functionality: XTrend Speed offers social trading options with stringent criteria for signal providers.
- Leverage of up to 1:300: providing users with ample flexibility in their trading strategies.
- Compliance with regulatory standards: XTrend Speed adheres to the client service rules outlined in the European MiFID II Directive, offering segregated accounts and an insurance fund for added security.
Disadvantages:
- Withdrawal commissions: traders should be mindful of withdrawal fees associated with XTrend Speed.
- Incomplete website information: the XTrend Speed website may lack the comprehensive details necessary for understanding the broker’s terms and advantages.
- Registration and communication requirements: accessing and interacting with the Support Service may necessitate registration and communication protocols.
Considering these aspects will help assess whether XTrend Speed aligns with trading preferences and requirements.
Making profits
According to TU, XTrend Speed provides users with a selection of two distinct account types, each tailored to specific platform preferences and trading styles. These accounts vary not only in their approach to calculating transaction volume but also in the functionalities they offer. Among the platforms, MT4 stands out for its robust technical components, while STrader is better suited for those engaging in passive investment strategies.
- MT4 account: this account type operates with a minimum lot size of 0.01, with the size of the contract determined by the specifications of the trading instrument. Users have the flexibility to open multiple accounts within this category.
Features: MT4 boasts advanced technical features and a wide range of analytical tools, making it a preferred choice for active traders seeking comprehensive market analysis and customization options.
- STrader account: with the STrader account, the lot size starts from 2 USD, offering a different approach to transaction volume calculation. Unlike the MT4 account, users are limited to opening only one account within this category.
Features: STrader is designed with simplicity in mind and is particularly suitable for individuals pursuing passive investment strategies. Its user-friendly interface and straightforward functionality make it accessible to traders of all experience levels.
Both platforms offer demo accounts, allowing users to familiarize themselves with the features and functionalities of each terminal before committing real funds to trading activities. This feature enhances user experience and ensures informed decision-making in selecting the most suitable trading platform based on individual preferences and trading goals.
Options of withdrawals and fees
Understanding the withdrawal process and associated terms is crucial when engaging with a brokerage platform. Here are the withdrawal procedures and policies offered by the broker.
- Withdrawal process and policies: the broker typically processes withdrawal requests within a single day, with actual funds withdrawal occurring within 3-5 working days, varying according to the chosen payment system. Exceptions to these timelines may occur.
- Commission-free deposits: deposits made into the account do not incur any commission charges, offering added convenience to users.
- Withdrawal fees: withdrawal transactions may be subject to fees based on the selected payment system, with charges potentially reaching up to 3.5% of the withdrawal amount.
- Unrestricted withdrawal requests: there are no limitations on the frequency of withdrawal requests, providing users with flexibility in managing their funds.
- Minimum withdrawal threshold: the minimum withdrawal amount stands at $10, ensuring accessibility for users seeking to withdraw smaller sums.
- Payment methods: a variety of payment methods are available, including bank payment systems, PayPal, Neteller, Skrill, and Sofort, catering to diverse user preferences and needs.
Concluding thoughts
XTrend Speed presents a dynamic array of trading options, emphasizing traditional platforms alongside social and mobile trading avenues. Despite its allure, caution is warranted due to expressed dissatisfaction among clients. However, a thorough TU review of XTrend Speed reveals a commendable 4 out of 5 rating, indicative of its potential success within the budget-oriented trading niche.
While the platform showcases advantages such as low initial deposits, social trading functionality, and regulatory compliance, it also bears drawbacks such as withdrawal commissions and incomplete website information. Ultimately, weighing these factors enables traders to make informed decisions aligning with their trading goals and requirements. The article was written by Oleg Tkachenko, a risk manager with financial experience.
Disclaimer: The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.
