Overall Rating | Overall Ranking | Trading Terminals |
2.7 | 41st  |  |
“Prop trading firms” give traders a unique chance to get access to substantial capital without having to put their own money at risk. As an offshore proprietary trading firm, XLTRADE stands out in this field. It gives investors the chance to manage funded accounts of up to $1 million. This plan gives skilled traders more options and the chance to make money.
This article is a full review of XLTRADE. It includes both expert analysis from Dumb Little Man and real customer comments. Our goal is to give you a fair picture of dealing with XLTRADE by giving you information about both the pros and cons. Readers can get a good idea of what to expect when they work with this company by reading about what trading professionals and other users have said.
What is XLTRADE?
As an offshore prop trading company, XLTRADE caters to clients by giving them funded accounts of up to $1 million. The company stands out because it is very flexible. It accepts a lot of different trading strategies and lets traders keep up to 80% of the gains they make.
With more than 20 different Forex and CFD market products, XLTRADE lets customers trade with leverage and use advisors, bots, and robots for algorithmic trading, which makes trading more enjoyable. Notably, XLTRADE is different from many others because it doesn’t work with online payment systems like Neteller, Skrill, or PayPal. Instead, it only accepts debit and credit cards provided by banks around the world.
XLTRADE is proud to hire only the best traders. It is owned by Chimara Ltd, BVI, and gets a lot of money from smart buyers around the world. These traders, who are former successful XLTRADE clients, have shown that they are very good at keeping accounts with $1 million in funds. XLTRADE has offices all over the world, including in the British Virgin Islands, London, Monaco, Singapore, and Dubai. This gives it a global presence in the prop trading market.
XLTRADE is committed to funding adept Forex traders worldwide, setting only specific requirements for yield and drawdown, thus emphasizing performance over rigid criteria. Traders have access to an expansive selection of trading assets, including over 65 currency pairs, major stock indices, precious metals, oil and gas, and CFDs on stocks of notable European and American companies, alongside currency pairs with 19 cryptocurrencies.
A standout feature of XLTRADE’s offering is the firm’s policy of covering losses from unsuccessful trades, removing the financial burden from funded clients, and ensuring a more secure trading environment.
Pros and Cons of XLTRADE
Pros
- MT4 trading platform
- Quarterly 25% top-up
- 40% evaluation bonus
- No trading strategy restrictions
- Affiliated with AvaTrade
- Funding up to $1 million
- No-evaluation funded account option
- Guaranteed funding after evaluation
Cons
- Some negative reviews
- Ambiguous leverage options
- Expensive one-time setup fee
- Limited online broker access
- No refund of setup fee if evaluation failed
Safety and Security of XLTRADE
The safety and security of trading with XLTRADE are paramount concerns for potential investors and traders. According to thorough research conducted by Dumb Little Man, it’s crucial to understand that XLTRADE operates distinctly from traditional brokerage firms. XLTRADE stands out in the financial market because it gives its own money to clients to handle. Because this business plan is different from most brokerage services, it has to follow a different set of rules.
Because of how it works, XLTRADE is not limited by the same rules that normal trading firms have to follow. The company’s method, which includes giving its money to help manage clients, is not something that needs to be strictly regulated. Traders who are worried about the safety and security of doing business with XLTRADE need to know this information. It shows how important it is to understand the company’s unique place in the financial world.
XLTRADE Bonuses and Contests
XLTRADE does not offer bonuses to its traders at this time. This is something that both potential and present clients should be aware of. Still, buyers should keep up with any changes that might happen in this environment. XLTRADE may change its rules about contests and bonuses in the future, so traders should keep an eye on any news or updates the company makes.
XLTRADE Customer Reviews
The 4.4-star review on Trustpilot shows that customers have different opinions about XLTRADE. Good reviews talk about the great customer support team and name Daniel and George V as two helpful workers who make sure that new customers have a good time.
But some people don’t like the $390 fee for paper deal, the complicated spreads, or the platform issues that make things hard for them. People who don’t like the site say that it’s “extremely confusing” and that people shouldn’t waste money on nothing. If you want to trade with XLTRADE, you should give it some serious thought after reading these mixed reviews.
XLTRADE Commissions and Fees
XLTRADE implements a one-time sign-up fee strategy to cover administrative and maintenance costs associated with new accounts. This fee is meant to weed out traders who aren’t serious, and it comes with a unique offer: those who pass the review process will get their money back in full. If you don’t meet the requirements, however, XLTRADE will keep the fee, which could be a risky investment for people who aren’t sure how good they are at investing.
The fees go up or down depending on how much money a trader has in their account. The lowest fee is $390 for a $50,000 account and the highest is $1,590 for a $1,000,000 account. This one-time fee is based on the size of the trading activities and the resources that XLTRADE gives to each trader.
Beyond the initial fee, XLTRADE’s cost model includes variable spreads starting from 1 pip for major pairs like EUR/USD and specific fees on lots – $7 on currency pairs and $0.04 on stocks. Additionally, traders are subject to commissions, which include a one-time subscription payment and 10% of any profits generated.
Notably, XLTRADE does not impose deposit or withdrawal fees, though transactions are processed through banks that may levy their own charges, adding another layer to consider in the overall cost of trading with XLTRADE.
XLTRADE Account Types
The different account types at XLTRADE are meant to meet the wants and preferences of different passionate traders worldwide. Our experts at Dumb Little Man found this out by doing a lot of research and testing. The company gives traders a clear, organized way to get access to large amounts of capital, with clear terms and chances to move up:
- 50k lite: For an initial regular cost of $320 (discounted to $250), traders receive $50,000 in capital after passing the evaluation process.
- 100k lite: This account offers $100,000 in funding for a regular price of $790, or a discounted rate of $630.
- 500k lite: Opening this account requires a deposit of $1,990, with a discounted fee of $1,590, granting traders access to $500,000 in trading capital.
- 1M lite: Traders looking to manage $1 million need to pay $3,690, with a discount price of $2,990 available if the subscription is purchased within two weeks of registration.
- 1M Experience: A special program priced at $2,190 (discounted to $1,750), starting traders with a virtual deposit of $100,000. Successful traders can scale their managed capital up to $1 million based on performance.
- Accelerated: This account type is for those who prefer trading without restrictions on drawdown requirements or capital management limits, allowing more significant positions than the deposit.
- Non-Evaluation: Allows immediate trading with real funds without prior evaluation. Traders must deposit a margin of 8% of the funding amount, blocked for 90 days, to cover potential losses.
Opening an XLTRADE Account
Opening an account with XLTRADE is a straightforward process designed for ease of access and security. Follow these eight simple steps to begin trading with one of the leading prop trading firms.
- Start by clicking on an affiliate link to access XLTRADE.
- Select the Secure Client Area; this will guide you to the registration page.
- Fill in your first name, last name, and country in the provided fields.
- Input your email address next.
- Create a strong password for account security.
- Hit the register button to proceed.
- Check your email for a message from XLTRADE containing a verification link.
- Verify your email by clicking the link, then navigate to your dashboard to fund your account and start trading.
XLTRADE Customer Support
When new traders have questions, XLTRADE’s customer service team tells them to download the MT5 software and use a demo account to get some hands-on experience. The focus is on self-directed learning through direct platform interaction, as shown in Dumb Little Man’s review.
Help is available by phone and email, and the hours are extended throughout the week. One thing that might make the support experience less useful is the lack of an online chat function and the fact that operators tend to give little information. You can email them at contact@xltrade.net or call them at +44 (0) 203 290 8808. The XLTRADE website has more ways to get in touch with them and a frequently asked questions part, but live chat is not available.
Advantages and Disadvantages of XLTRADE Customer Support
XLTRADE Withdrawal Options
One of a kind profit split system at XLTRADE lets traders keep 80% of their earnings while the company automatically takes a 20% cut. This information, which was carefully checked by a trading professional at Dumb Little Man, shows how open and helpful the site is for traders. At the end of the month, traders get an email with a summary of their trading account that shows them how much money they have earned and how much they can take. This makes it easy for them to get their money right away.
When it comes to withdrawal choices, XLTRADE has a lot of different options to meet the needs of traders around the world. You can wire money to any person or business bank account in the world. For those who like more modern ways to pay, Coinbase also lets you get your gains in cryptocurrencies. The company’s strategy of adding 25% to funded accounts every three months is another incentive to keep making money. This is done to reward successful trading strategies.
The processes for withdrawal are made to be flexible and quick. Clients can take out up to 90% of their total profit, and requests are handled every Friday. This lets traders keep track of their profits well, as they can choose whether to take out the whole amount or just a part as needed.
Even though they only allow bank transfers as a withdrawal method right now, XLTRADE makes sure that profits are paid out within 24 hours of the request being approved. This shows that they are committed to quick and reliable financial operations.
XLTRADE Challenges and Difficulties
In the initial phase of XLTRADE’s program, traders are tasked with achieving a 10% performance target while keeping their losses below 10%. This challenge comes without a specific deadline, although participants must engage in trading activities for a minimum of thirty days. Successful traders who demonstrate exceptional skill during this period are rewarded with the opportunity to trade using actual funds.
Following this, the second phase imposes similar requirements, with a 10% performance goal and a maximum 10% loss limit, still without a fixed time limit but necessitating at least thirty days of active trading. Completion of this stage, coupled with reasonable trading performance, allows traders to continue operating with a funded account.
This approach by XLTRADE is designed to test traders’ abilities to consistently achieve and maintain profitability, as well as their risk management skills, across both phases of the program.
How to Pass XLTRADE Evaluation Process
Due to its strict requirements, the XLTRADE evaluation method is very hard to get through. To make it more likely that you will pass, you need to make sure you have the right information and tactics.
You can get ready for this by enrolling in a detailed training program that will teach you the skills and information you need to meet XLTRADE’s standards. This kind of training makes sure that you have everything you need to take the test with confidence and skill.
Asia Forex Mentor – Rated Best Comprehensive Course Offering by Investopedia
Asia Forex Mentor is highly regarded as an optimal platform for those aiming to successfully navigate the XLTRADE evaluation process. The software has helped thousands of traders pass several prop company evaluation procedures, and it comes highly recommended by the trading professionals at Dumb Little Man. Central to it all is Ezekiel Chew, a renowned forex market trader with a background of over 20 years, renowned for his high-value trades, and the brains behind the Golden Eye Group.
His journey as a mentor began simply, with lessons for close friends, and progressively expanded into an in-demand online course. Based on Ezekiel’s experience and the success stories of his mentees, traders who want to succeed in the My Funded FX assessment process will find that Asia Forex Mentor is an extremely useful and reliable resource.
How Could Asia Forex Mentor Help You Pass XLTRADE Challenge?
For forex enthusiasts aiming to conquer the XLTRADE Challenge, Asia Forex Mentor (AFM) stands out as the premier learning destination. AFM arms traders with the necessary tools for success in XLTRADE’s evaluation process with its array of awards and unmatched educational offerings. Let’s explore how AFM can facilitate your success in the XLTRADE Challenge.
The One Core Program from Asia Forex Mentor was listed by Investopedia, a renowned financial resource, as the most thorough course offering. The program’s breadth and depth earned it accolades as an excellent instructional resource in FX trading.
A reputable source for stock market, financial, and business information The Asia Forex Mentor One Core Program was recognized the Best Forex Trading Course for novices by Benzinga. In particular, the application’s capacity to support both inexperienced and seasoned traders was emphasized.
Moreover, being named the “Best Forex Mentor” in 2021 by BestOnlineForexBroker reflects the quality of AFM’s mentorship and its impact on traders’ ability to make “massive gains from forex.” In the context of the XLTRADE Challenge, where expert guidance and strategic insights can make a significant difference, such mentorship proves invaluable.
The best forex traders and platforms gave Asia Forex Mentor the highest score for its strong trading strategies and tactics in a thorough review.
These awards show that Asia Forex Mentor’s One Core Program regularly goes above and beyond, giving both new and experienced traders the skills they need to do well in the My Funded FX’s Challenge.
Asia Forex Mentor Members’ Testimonials
Members of Asia Forex Mentor’s One Core Program, which is run by Ezekiel Chew, give it high marks for helping them improve their trade skills and pass prop firm exams. People love the course because it has a lot of useful information in it. It has helped average traders make regular profits.
Participants say that the school does a good job of breaking down complicated ideas and giving them useful strategies for getting into and out of markets. Anyone who wants to learn more about forex trading should definitely take the course. Many people have thanked Ezekiel for the helpful tips and confidence they got on their way to becoming financially free.
>> Also Read: Asia Forex Mentor Review By Dumb Little Man
Conclusion: XLTRADE Review
Dumb Little Man pointed out that XLTRADE lets traders get into the stock market with no risk to their own capital. They offer a fair evaluation process, funded accounts of up to $1 million, and a 25% bonus every three months. The platform’s 80% return payout makes it a good choice for experienced traders. But for beginners, the risk of losing the setup fees that can’t be returned if they fail the evaluation part is very important to think about.
Even though XLTRADE is not regulated, it makes sure that its clients’ money and personal details are safe. This makes it a good choice for prop trading. Traders who want to do well on XLTRADE’s review could greatly improve their chances of success by taking courses like Asia Forex Mentor. These courses would help them improve their trading skills and get ready for the platform’s opportunities and challenges.
>> Also Read: My Funded FX Review with Rankings 2024 By Dumb Little Man
XLTRADE Review FAQs
Can I manage multiple funded accounts with XLTRADE?
It is possible for buyers to handle up to five accounts with XLTRADE. This one-of-a-kind feature lets you use different trading methods in different markets, which greatly increases your chances of making money without having to spend a lot of money upfront. It’s a good choice for traders who want to grow their trading portfolio and try out different market situations at the same time.
What is the maximum funding XLTRADE offers?
One thing that makes XLTRADE unique is that buyers can get into paid accounts that can hold up to $1 million. The buyers can make bigger bets on the market with this large amount of money, which increases their chances of making a lot of money. For people who are serious about buying and want to reach their financial goals, this is a good deal.
How long does it take to receive profits from XLTRADE?
XLTRADE wants buyers to be able to get their profits quickly. Most of the time, people send money to people who ask for it within 24 hours. This fast payment method is meant to give buyers quick access to cash so they can invest their profits right away or spend the money on themselves. Overall, this makes trading on the site more fun.
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