XLNTrade is a Forex broker with only 1 account type [real] and a proprietary trading platform [Xcite]. The company enables the trading of 5 markets [Forex, commodities, indices, stocks, crypto], requiring a minimum deposit of $200.
XLNTrade Company Information & Regulation
This broker was established on September 20, 2018. The company behind this platform is Securcap Securities Limited, headquartered at Suite C, Orion Mall, Palm Street, Victoria, Mahe, Seychelles.
The brokerage is regulated by the Financial Services Authority of Seychelles (FSA), under the license number SD012. While this regulatory body offers some compliance oversight, it is not recognized as a Tier-1 regulator, and the broker does not participate in any formal investor compensation schemes.
XLNTrade Features and Specifications
We will have a look at the broker's important parameters and specifics in the table below:
Broker | XLNTrade |
Account Types | Real |
Regulating Authority | FSA |
Based Currencies | USD |
Minimum Deposit | $200 |
Deposit Methods | Credit/Debit Cards, Electronic Payment Systems, Bank Transfers |
Withdrawal Methods | Credit/Debit Cards, Electronic Payment Systems, Bank Transfers |
Minimum Order | 0.01 |
Maximum Leverage | 1:200 |
Investment Options | None |
Trading Platforms & Apps | Xcite |
Markets | Forex, Commodities, Indices, Stocks, Crypto |
Spread | From 4 Pips on EUR/USD |
Commission | $500 Quarterly Administrative Fee for Accounts With at Least 3 Months of Inactivity |
Orders Execution | Instant |
Margin Call / Stop Out | 100% / N/A |
Trading Features | Economic Calendar |
Affiliate Program | No |
Bonus & Promotions | No |
Islamic Account | No |
PAMM Account | No |
Customer Support Ways | Live Chat, Email, Ticket |
Customer Support Hours | Monday to Friday, 08:00 to 19:00 (GMT+2) |
Trading Account Conditions
XLNTrade keeps things simple when it comes to account types, focusing on providing a single STP account.
Trading with this account requires a minimum deposit of $200 and comes with access to a leverage of up to 1:200.
Unfortunately, the broker doesn't offer any demo environment for practice trading.
Benefits and Drawbacks of Trading With XLNTrade
Every Forex broker offers its services with upsides and downsides; the discussed brokerage is no exception. Here's a quick look at the most notable ones:
Benefits | Drawbacks |
Decent Range of Tradable Markets | No High-Tier Regulating Authority |
Great Trust Scores and User Ratings | Only One Trading Account |
High Diversity in Payment Options | Relatively High Costs |
Register and Verify The Account
The XLNTrade registration shouldn't take long, as it is a simple and quick process. With just a few essential details, you can activate your profile and prepare to trade CFDs across various asset classes
#1 Access the Official XLNTrade Platform
Begin by visiting the XLNTrade website and selecting the "Open an Account" option. This takes you directly to the sign-up section, where the registration process officially begins.
#2 Complete the Sign-Up Form
Fill in the required personal details, including:
- Full legal name
- Active mobile number
- Valid email address
- A strong password (combining letters, numbers, and symbols)
Once submitted, your account will be created instantly.
#3 Do the Identity Verification
For KYC confirmation, provide the required documents and any additional necessary information.
Trading Platforms and Terminals
XLNTrade employs its proprietary Xcite platform for providing trading services to its clients.
It includes all the necessary and essential features and trading tools found in third-party terminals such as MetaTrader 4/5.
The platform is available in both forms of web and application. Download the application for your mobile devices via these links:
The Android application has received a 4.5/5 rating based on over 4,000 reviews, with 100K+ downloads.
Trading Fees, Spreads, and Other Commissions in XLNTrade
The broker doesn't charge any additional trading commissions other than the spreads on trading pairs.
Based on the evaluations, the market spreads on this brokerage are higher-than-average, starting from 4 pipson EUR/USD.
Other than that, there's a quarterly $500 Administrative fee, applying to accounts that have been inactive for a period of at least 3 months.
No commissions are charged on deposits and withdrawals.
You can use a profit/loss calculator to estimate a trade's outcome, considering its related fees.
Deposit and Withdrawal Options
XLNTrade offers a decent range of payment methods to its clients, with over 10 options. We will have an overview of the list below:
- Credit/Debit Cards: Visa, MasterCard, and Maestro
- Electronic Payment Systems: Skrill, Neteller, Apple Pay, Google Pay, Pagar, Boleto, Pix, PicPay, AstroPay, PayRetailers
- Bank Transfers: Bank account transactions
Copy Trading and Investment Features
As of the latest information available, XLNTrade does not offer copy trading or social trading features on its platform.
This means that traders don't have any options for passive earnings with this broker.
Trading Symbols and Available Markets
XLNTrade offers a total of 5 markets for trading on its platform. We will mention them in the list below:
- Forex Market: Over 40 currency pairs
- Commodities: More than 20 symbols of energies, metals, and agricultural products
- Indices: S&P 500, FTSE 100, NIKKEI, DOW JONES, and more
- Stocks: Apple, Google, LinkedIn, Yahoo, General Electric, and so on
- Cryptocurrencies: Digital assets tradable with the broker
Bonuses, Promotions, and Other Offers in XLNTrade Broker
At the time of writing this review article, the company does not offer any specific bonuses or promotional offers to new or existing clients.
While some brokerages provide traders with various promotions, it is not an essential aspect in the financial industry.
Support Section: Contact Channels and Open Hours
XLNTrade provides 3 main channels for contacting the support department:
- Chat: Available on the website
- Ticket: Accessible on the "Contact Us" page of the website
- Email: customer.service1@xlntrade.com
Based on the reliable data, the support dept.'s operating hours are Monday to Friday, 08:00 to 19:00 (GMT+2).
Restricted Regions and Countries
XLNTrade, like many online brokers, operates under specific regulatory guidelines that may restrict its services in certain countries. Some of these banned regions include:
- United States
- Canada
- Germany
- Luxembourg
- Belgium
- France
- Netherlands
- Canada
- Afghanistan
- Iran
- Croatia
Trust Scores and Reviews of XLNTrade
We investigate Trustpilot, ScamAdviser, and other reliable sources for the trust scores on exchanges.
Let's take a look:
- XLNTrade Trustpilot: 4.9/5, based on more than 180 reviews
- ScamAdviser: Trustscore of 46/100, user rating of 4.6/5 with +180 reviews
- ForexPeaceArmy: 1/5, only 5 scores
On average, the broker has received great reviews and scores from users.
Educational Offerings on XLNTrade
The broker's website isn't rich in terms of education-purposed content; to be precise, the only educational page on the site is the FAQ section, which includes some frequently asked questions with relevant answers.
XLNTrade in Comparison to Other Brokerages
The broker's performance and features are evaluated against other top choices in the industry:
Parameter | XLNTrade Broker | LiteForex Broker | IC Markets Broker | FxPro Broker |
Regulation | FSA | CySEC | FSA, CySEC, ASIC | FCA, FSCA, CySEC, SCB |
Minimum Spread | 4 Pips on EUR/USD | From 0.0 Pips | From 0.0 Pips | From 0.0 Pips |
Commission | $500 Quarterly Administrative Fee for Accounts With at Least 3 Months of Inactivity | From $0.0 | From $3 | From $0 |
Minimum Deposit | $200 | $50 | $200 | $100 |
Maximum Leverage | 1:200 | 1:30 | 1:500 | 1:500 |
Trading Platforms | Xcite | MetaTrader 4, MetaTrader 5, Mobile Proprietary App | Metatrader 4, Metatrader 5, cTrader, cTrader Web, IC Markets Mobile | MT4, MT5, cTrader, Web Trader, Mobile App |
Account Types | Real | Classic, ECN, Demo | Standard, Raw Spread, Islamic | Standard, Pro, Raw+, Elite |
Islamic Account | No | No | Yes | Yes |
Number of Tradable Assets | 90+ | N/A | 2,250+ | 2100+ |
| Trade Execution | Instant | Market | Market | Market, Pending |
Conclusion and Final Words
XLNTrade provides access to more than 40 currency pairs and +20 commodity symbols for trading.
The company has received a trust score of 4.9/5 on the Trustpilot platform with over 180 reviews, while obtaining a 4.6/5 rating on "ScamAdviser".