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 Seychelles (FSA), under the license number SD012.
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.
Register and Verify The Account
Registering with XLNTrade shouldn't take long, being a simple and quick process. Follow the steps below:
- Navigate to the broker's official website and click the "OPEN AN ACCOUNT" button;
- Provide information including your full name, phone number, and email address;
- Create a password of 8+ characters;
- Read and accept the broker's terms of service and privacy policy;
- Enter the code sent to your email address to confirm your account.
You have completed the registration process on the brokerage. For identity verification, provide the required documents and the additional necessary information.
Trading Platforms and Terminals
XLNTrade employs its proprietary Xcite platform for providing trading services to the clients.
It includes all the necessary and essential features found in third-party terminals such as MT4/MT5.
The platform is available in both forms of web and application. Download the application for your mobile devices via these links:
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 spreads on this brokerage are higher-than-average, starting from 4 pips on 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.
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 earning with this 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 is Monday to Friday, 08:00 to 19:00 (GMT+2).
Trust Scores and Reviews of XLNTrade
We investigate Trustpilot, ScamAdivser, and other reliable sources for the trust scores on exchanges.
Let's take a look:
- Trustpilot: 4.9/5, based on more than 180 reviews
- ScamAdivser: 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.
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".
