Education & Research
Tools and Features
Xtreamforex is is forex broker registered and regulated in the Marshall Islands. This platform allows users to have access to multiple financial markets, including foreign exchange, indices, commodities, stocks, and cryptocurrencies. Learn everything you need to know about this forex broker by reading our complete Xtreamforex review.
- Low minimum deposit starting at only $5
- Showcases multiple payment methods available, including bank transfer
- Trading platforms allow for nearly all trading strategies
- Five types of accounts, including standard and ECN accounts
- 24/5 customer support available in multiple languages
- Offers trading forex on MT4 or multiple assets on MT5
- Withdrawal requests are processed on the same working day (but may take 2-4 days to be received)
- Registered in the Marshall Islands, but it’s not a regulated broker
- Accounts can be open in only one basic currency (USD)
In today’s competitive world, finding the right broker for your needs is more difficult than it seems. There are many new entrants, as well as incumbents, that boast excellent trading conditions at low costs. To help you find the right service provider for your needs, we have crafted this Xtreamforex review that provides a closer, unbiased look at its benefits and drawbacks, so you can make an informed decision.
This broker claims that it is registered and regulated in the Marshall Islands. It facilitates access to multiple financial markets, including foreign exchange, indices, commodities, stocks, and cryptocurrencies. Operated by Xtream Markets Ltd, the broker boasts unparalleled trading conditions, multiple types of accounts, platforms, and devices supported.
In the Xtreamforex review below, we’ll have a closer look at its features and benefits, but also some of its shortcomings.
Xtreamforex FX brokerage is particularly geared towards forex trading. Below, we’ll have a look at the choice of trading platforms, trading account types, and other tools and assets.
Xtreamforex provides access to the industry-standard, powerful forex trading platforms MetaTrader 4 and 5. MetaTrader 4 is one of the most popular trading platforms used by forex traders, while MetaTrader 5 is mostly used for other trading assets, such as stocks.
Essentially, if you want to trade currency, commodities, and indexes (through contracts-for-difference, or CFDs), MetaTrader 4 is suitable for your needs. You have access to real-time pricing data, technical and fundamental analysis tools, automated trading opportunities, and other customizable tools and features.
On the other hand, if your strategy is multi-asset or based on stocks, forex, and futures, MetaTrader 5 offers more flexibility. It is also more advanced in terms of price analysis, automated trading (expert advisors), and even copy trading. It has some exclusive indicators and customizable charts that allow you to craft a fully personalized strategy.
Some other differences and similarities between the two platforms include:
- There are approximately 30 graphical objects on MT4 and more than 40 on MT5
- Both platforms provide customizable analytics tools and trading services
- Approximately the same number of built-in technical indicators (30 for MT4 and 38 for MT5)
- MT5 provides a strategy tester
- Both platforms provide access to financial news
- Both allow for traders’ own customized indicators
Overall, many multi-asset and forex traders choose MetaTrader platforms via a good broker because of the various inbuilt technical indicators, market news, accounts hedging tools, automated strategies available, and overall flexible trading conditions.
Types of Accounts
Xtreamforex is one of the few brokers with plenty of choices when it comes to account types. Unlike brokers like EagleFX or Fortrade, which have only one account type, Xtreamforex may be best suited for traders seeking a personalized experience. The five types of accounts are:
- Micro accounts: minimum deposit of $5, maximum leverage of 1:1000, and a maximum trade volume of 5 lots.
- Standard accounts: minimum deposit of $250, maximum leverage of 1:400, up to 50 lots
- ECN accounts: minimum deposit of $250, maximum leverage of 1:400, up to 50 lots
- ECN Pro accounts: minimum deposit of $5,000, maximum leverage of 1:200, up to a maximum of 100 lots
- VIP accounts: minimum deposit of $20,000, maximum leverage of 1:200, unlimited lots available for trade
All these accounts have a stop-out level of 30% and a margin call of 60%, apart from the micro account, which has a margin call of 50%. You can also switch your account to an Islamic one if you open a micro, standard, or ECN account, case in which there is no interest charge applied to the open positions, but there is a carry charge that applies on overnight positions beyond a 7-day period.
There is a limit of maximum open orders of 250 for the micro account, and 500 for standard and ECN account holders, while the other two accounts allow for unlimited open orders.
Overall, the choice of accounts is highly flexible and may seem attractive to investors with smaller budgets since there is no commission, and the spreads start at 1.2 or 1 pip (for micro and standard accounts, respectively). Perhaps one of the key benefits is the account manager, a feature available to all account types, except for micro accounts.
Finally, traders who want to test all the features first have the possibility to open a demo account. This allows you to make trades using real market conditions, but you use virtual funds instead of real cash.
Tools & Features
Xtreamforex does not provide a wide range of tools and features that go beyond the choice of the trading platform and account type. One of the few features, however, is the free VPS hosting.
A Virtual Private Server is a service that runs 24/7 and provides you with non-stop connectivity, avoiding downtime and power cuts and minimizing delay in order execution. This is a benefit as many other brokers often provide this service for a monthly subscription fee (such as Turnkey, for instance).
Apart from this, Xtreamforex also provides access to an economic calendar and a forex holidays calendar that may influence forex trading.
Education & Research
Xtreamforex provides the following educational and research tools:
- Trading articles for beginners
- Live webinars, available for free either weekly or monthly, suitable for both beginners and advanced traders
- Written guides for beginners, intermediate, and advanced forex traders
- Video tutorials on how to use Xtream and copy trading
- Trading glossary
Overall, the educational section provided by this forex trading broker is suitable for traders of all skills and experience levels. This is extremely useful, especially to individuals new to trading who seek help in crafting their strategy and executing their orders.
Regulations & Safety
Finally, it’s important to note that Xtreamforex is registered in the Marshall Islands, but it is not regulated by any government agency. Beginners should be aware of the extra risks associated with unregulated brokers.
Despite this, it’s worthwhile to mention that Xtreamforex has implemented several security measures that are common among regulated brokers, such as:
- This ECN broker has partnerships with major banks around the world that provide liquidity
- Segregated accounts, so the clients’ funds are kept separately from the company’s funds
- Negative balance protection, so you cannot lose more than what you deposit in your trading account
The pricing varies based on which trading account you choose. The costs are as follows:
- Micro account: spreads starting at 1.2 pips and no commission
- Standard account: spreads starting at 1 pip and no commission
- ECN account: raw spreads and $7 commission
- ECN Pro account: raw spreads and $5 commission
- VIP account: raw spreads and $1 commission
Clients can deposit funds into their account using bank transfer, bitcoins, Visa, Skrill, or Neteller. The only base currency allowed is USD, so you will have to cover additional exchange fees if your local currency is different.
On a positive note, Xtreamforex does not charge any fees for withdrawals or deposits. The withdrawal requests may be processed within 2-4 days, depending on your service provider.
Finally, keep in mind that all positions open overnight will incur a swap fee (either positive or negative, depending on the interest rates), apart from the Islamic accounts. Xtreamforex does not mention any additional fees or charges.
The customer service team is available 24/5 via mail, live chat, and phone. You can also contact the team via social media platforms, such as Facebook, Twitter, and Instagram, among others.
The breadth of contact channels is refreshing, especially for new traders who may need help setting up their accounts or may have questions regarding their trades or services provided by Xtreamforex.
Who Is Xtreamforex For?
Overall, Xtreamforex has a diversified offering that may suit the needs of all traders, regardless of skill, experience, or strategy. This is particularly attributable to the five different types of accounts that you can open. One shortcoming may be that spreads tend to be quite high for clients with a smaller budget (particularly for the micro and standard accounts), but there are no commissions or additional fees.
In addition to this, Xtreamforex may not be for you if you’d like to join a proprietary platform, rather than the industry standards, MetaTrader 4 and 5. One benefit of joining these platforms as a beginner is that they tend to be offered by nearly any forex broker, so you won’t have to go through the learning process again if you decide to switch brokers. Yet, traders without sufficient trading experience must do their due diligence before signing up with any broker.
However, this broker may not be suitable for long-term investors or traders who want to trade real assets (like real stocks, not CFDs), since none are available. In this case, another broker like eToro or Robinhood may provide better opportunities.
How Does Xtreamforex Compare?
Overall, Xtreamforex has a competitive offer compared to other unregulated brokers and still provides some of the security measures implemented by regulated brokers. For instance, Xtreamforex does provide negative balance protection and segregated accounts. Yet, individuals new to the trading world should ensure that they are fully aware of the risks and benefits associated with unregulated brokers before signing up.
Compared to well-established, regulated industry leaders like Plus500 or FP Markets, Xtreamforex has a tighter range of assets available. There is also no proprietary trading platform available, unlike AvaTrade, for instance. If you want more choices in terms of assets and trading platforms, you may want to check out these brokers instead.
However, unlike a reliable broker like Plus500 or FP Markets, Xtreamforex has lower fees. For instance, Plus500 does charge an inactivity fee, while FP Markets charges minimum commissions.
Regarding education, the offering may not be as broad as CMC Markets, but the forex broker does provide clear guidance that may benefit all traders. There may still be room for improvement for traders who seek excellent educational support – such as Fortrade, which partnered with Trading Central, an industry-leading analysis software.
Is Xtreamforex a regulated broker?
Although the broker claims that it is regulated by and registered in the Marshall Islands, there is no government authority in the Marshall Islands that regulates forex brokers. Hence, Xtreamforex is, in fact, an unregulated broker.
Can you open a risk-free trading account with Xtreamforex?
All trading accounts using real cash come with risks, so you should not deposit more than you afford to lose. However, Xtreamforex does allow traders to open a demo account to start trading right away, which is a risk-free way of testing your strategy because you use virtual funds while investing in financial instruments using real-time data.
Does Xtreamforex allow day trading strategies?
Yes, Xtreamforex allows the use of nearly all trading strategies, including day trading, scalping, and hedging.
Is Xtreamforex available in any country?
Xtreamforex is an international brokerage, but you should check your local laws before signing up. In some countries, the use of CFDs may be restricted (such as in the U.S.).
Final Verdict: Xtremeforex Review
Summing up this Xtreamforex review, this unregulated forex broker has a competitive offer in terms of costs and flexibility. You can access MetaTrader 4 or 5, where you can trade forex, stocks, indices, commodities, and cryptocurrencies.
The fees you should be aware of are spreads and commissions, which depend on your chosen account type. Unsurprisingly, traders with larger budgets may be able to place trades at a cheaper rate than beginners, who need to cover higher spreads.