XLTrade offers attractive 1-step and 2-step challenges for traders. With a maximum fund size of $3 million, XLTrade Prop firm provides ample scaling opportunities.
The firm sets a first profit target of 10%, allowing traders to measure their success effectively.
With leverage of up to 1:500 and without commissions, XLTrade ensures traders benefit from competitive conditions.
The firm's global reach extends to over 160 countries, and it is supported by flexible payment options like Visa, MasterCard, Bank Wire, and Crypto.
XLTrade Prop Firm Company Overview
XLtrade, established in 2016 and headquartered in London, United Kingdom, is a prominent player in the proprietary trading (prop trading) industry.
Operated by Chimara Ltd, with its platform registered in the Virgin Islands, the firm offers traders access to substantial trading capital without requiring a significant personal investment.
This unique model has positioned XLTrade as a leading choice for both aspiring and professional traders, enabling them to enhance their trading capabilities on a larger scale.
XLTrade specifications summary
To provide a clearer picture of XLtrade's offerings, let's break down the prop firm's key specifications:
Account currency | USD |
Minimum price | $320 |
maximum leverage | 1:500 |
maximum profit split | %90 |
Instruments | Equity Indices, Stocks, Forex, Cryptos, Metals, Energy, Commodities |
Assets | EUR/USD, GBP/USD, USD/JPY, Tesla, NASDAQ, Gold, Silver, Oil |
evaluation steps | Step 1, Step 2 |
Trading platform | MetaTrader 5, WebTrader |
Withdrawal methods | Bank Wire, Crypto |
maximum fund size | $3M scaling |
First profit target | 10% |
Max. daily loss | - |
Challenge time limit | No limits |
News trading | Yes |
Maximum total drawdown | 10% |
commission per round lot | No |
Trustpilot score | 4.6 out of 5 |
Payout frequency | Weekly, Monthly |
established country | Virgin Islands |
established year | 2016 |
XLtrade's model is designed to attract serious traders with its high funding amounts and favorable profit-sharing terms. However, the lack of direct regulation and the high initial costs may cause some traders to pause.
XLTrade prop firm pros & cons
Let's weigh the advantages and disadvantages of trading with XLtrade:
Pros | Cons |
High funding amounts (up to $3 million scaling) | Lack of direct regulatory oversight |
Generous 90% profit split | Mixed customer reviews and transparency concerns |
Weekly payouts | Limited educational resources |
No profit limits or daily loss restrictions | - |
Use of popular MT5 platform | - |
While XLTrade prop firm offers attractive terms for experienced traders, the high entry barriers and lack of transparency may deter some potential users.
XLTrade funding & price
XLtrade's funding model is designed to cater to traders with various experience levels and capital requirements.
Here's a breakdown of their funding options:
Funding Size | Pro Price | Lite Price | Instant Price | Instant Prime Price |
$10,000 | - | - | $650 | - |
$20,000 | - | - | $1,250 | $1,000 |
$50,000 | - | $320 | $2,390 | $2,500 |
$100,000 | - | $790 | $4,590 | $5,000 |
$200,000 | - | $1,350 | - | - |
$500,000 | $2,490 | - | - | - |
$100,000 | $4,590 | - | - | - |
It's worth noting that while these funding amounts are substantial, the associated setup fees are non-trivial. Traders should consider their ability to meet the evaluation criteria before committing to these fees.
Note that XLTrade allows traders to scale up their funding size up to $3,000,000. Also, the initial fee paid for an account is fully refunded after success in the challenge by the trader.
XLTrade registration & verification Process
Joining XLTrade involves a straightforward process. The platform supports applicants from over 160 countries, but regional eligibility should be confirmed beforehand.
#1 Create Access Credentials
Begin by visiting the official XLTrade website. Click on “Start Now”, complete the signup form, and receive a password for Guest Access. This allows temporary entry to explore the platform and proceed with the next steps.
#2 Select Account Type and Make Payment
Choose your desired account type and specify the funding amount. You’ll be prompted to enter billing information and complete the payment securely.
#3 Verify Identity and Access Dashboard
Click on “Access Dashboard” to reach your personal trading portal. Navigate to the verification section to upload your proof of identity and proof of address—a standard KYC step to activate your account fully.
XLTrade Evaluation Steps
XLTrade employs 1-step and 2-step evaluation models for its various plans to assess traders' skills and risk management abilities.
The table below goes through all of the related details for each plan:
Parameters | PRO | LITE | INSTANT | INSTANT PRIME |
Profit Target | 10% per Step | 10% | N/A | N/A |
Max. Weekly Drawdown | 5% | 5% | 5% | 5% |
Max. Total Drawdown | 10% | 10% | 10% | 10% |
Profit Split | 90% | 90% | 100% | 100% |
Payout Frequency | Weekly | Weekly | Monthly | Monthly |
The absence of daily loss limits provides flexibility but requires traders to exercise strong self-discipline and risk-management skills.
XLTrade bonuses and discount offerings
XLTrade does not explicitly offer bonuses or promotional offers as part of its services. However, sometimes promo codes are found on the official or third-party sources.
XLTrade Rules
The prop firm's website does not reveal much information regarding this matter, but it states that news trading and the use of Expert Advisors (EAs) are allowed. Also, no strategies are restricted.
XLTrade trading platforms
XLTrade provides access to one of the most popular trading platforms, MetaTrader 5, and its WebTrader version in the Forex and CFD trading world.
MetaTrader 5 features:
- More advanced version of MT4
- Additional timeframes and order types
- Enhanced backtesting capabilities
- Access to a wider range of markets
XLtrade's provision of MT5 allows traders to choose the platform that best suits their trading style and needs. The support for automated trading is particularly noteworthy as it enables traders to implement and test complex strategies.
TradingFinder has developed various advanced MT5 indicators that you can use for free.
What instruments & symbols can I trade on XLTrade prop firm?
XLTrade provides a wide selection of trading instruments, from the Forex market to indices, accommodating different trading styles and strategies:
Markets | Instruments |
Forex | EUR/USD, GBP/USD, USD/JPY , … |
Stocks | Various global stocks like US Stocks |
Indices | S&P 500, NASDAQ, FTSE 100 |
Commodities | Gold, Silver, Oil |
This wide selection of instruments allows traders to diversify their portfolios and exploit opportunities across different markets. However, it's crucial to note that the availability of specific symbols may vary, and traders should always check the current offerings and any associated trading conditions or restrictions.
XLTrade payment methods
XLTrade offers several payment methods to accommodate traders from different regions:
Transaction Type | Payment Methods |
Withdrawals | Bank Wire, Crypto (Trader provides bank details or Crypto address) |
Deposits | Visa, Master Card, Bank Transfer, Crypto |
While XLTrade claims to offer various payment methods, the available options may depend on your location. It's advisable to check with their support team for the most up-to-date information on available payment methods in your region.
XLTrade commission & costs
Understanding the fee structure is crucial when considering a prop firm. Here's a breakdown of XLtrade's commission and costs:
Category | Details |
Trading Costs | No commissions, Spreads vary, Overnight swap fees may apply |
Withdrawal Fees | No fees by XLtrade, Third-party fees may apply |
Inactivity Fees | No clear info provided |
It's also worth noting that while XLTrade prop firm doesn't charge commissions, the spread costs can add up, especially for high-frequency traders.
When evaluating the overall value proposition, always consider the total cost of trading, including spreads.
Does XLTrade offer vast educational resources?
Unfortunately, XLTrade falls short in the area of educational resources.
Unlike many reputable prop firms and brokers that offer comprehensive educational materials, XLtrade's offerings in this department are quite limited. Instead, the firm has dedicated a section named Trader's Hub, where traders can join the community to seek help and ask advanced questions.
XLTrade Trust Scores on Review Websites
Trust scores and customer reviews play a crucial role in assessing the reliability of a prop firm. Let's examine XLtrade's standing on Trustpilot:
- XLtrade Trustpilot Score: 4.6/5 (based on 101 reviews as of 2023).
This score indicates a generally positive sentiment among reviewers. Key points from the reviews include:
Aspect | Positive | Negative |
Details | Efficient support, fair trading conditions, helpful staff | misunderstandings of trading rules, account termination complaints |
It's important to note that while the Trustpilot score is high, it contrasts with the lower rating on the Forex Peace Army (FPA) website. This discrepancy underscores the importance of consulting multiple sources when evaluating a prop firm's reputation.
XLTrade prop firm customer support
Customer support is a critical aspect of any trading service. XLTrade offers several channels for customer support:
- Ticket System
- Live Chat (Trader’s Hub)
- Phone Support: +44 (0) 203 289 9020
XLTrade social media channels
In today's digital age, a company's social media presence can provide valuable insights into its operations and customer engagement. XLTrade maintains a presence on some social media platforms:
- XLTrade Facebook
- YouTube
However, the overall social media engagement appears limited compared to other prop firms.
XLTrade Comparison with Other Prop Firms
Look at the table below for a comprehensive comparison between the reviewed prop firm and other players in the industry:
Parameters | XLTrade Prop Firm | BrightFunded Prop Firm | Maven Trading Prop Firm | The 5ers Prop Firm |
Minimum Challenge Price | $320 | €55 | $15 | $39 |
Maximum Fund Size | $3,000,000 | Infinite | $100,000 | $4,000,000 |
Evaluation steps | 1-Step, 2-Step | 2-Step | 1-Step, 2-Step | 1-Step, 2-Step, 3-Step |
Profit Share | Up to 90% | 100% | 85% | 100% |
Max Daily Drawdown | N/A | 5% | 4% | 5% |
Max Drawdown | 10% | 8% | 8% | 10% |
First Profit Target | 10% | 10% | 8% | 5% |
Challenge Time Limit | Unlimited | Unlimited | Unlimited | Unlimited |
Maximum Leverage | 1:500 | 1:100 | 1:75 | 1:100 |
Payout Frequency | Weekly, Monthly | 14 Days | 10 Days | Bi-weekly |
Number of Trading Assets | N/A | 150+ | 400+ | 3000+ |
Trading Platforms | MetaTrader 5, WebTrader | cTrader, DXTrade | Match-Trader, cTrader | Metatrader 5 |
Expert suggestions
In conclusion, XLTrade stands out with its low entry point starting at $320 and an appealing profit split of up to 90%.
The firm provides access to a wide range of trading instruments on popular platforms such as MetaTrader 5 and WebTrader.
While XLTrade prop firm may lack educational resources, its trading conditions, like 0 commission, bi-weekly payouts, and allowance for news trading, make it an attractive choice for prop traders.
Trustpilot reviews highlight the firm's efficient support, fair trading conditions, and helpful staff, earning it a score of 4.6/5 based on 101 reviews as of 2023.