XTrend Speed Fees and Minimum Deposit - TU Expert review
Assessing the size of the fees is the second most important factor for choosing a broker after reliability. The lower the fees, the more diverse their structure, the more beneficial it is to trade with the broker. Minimum deposit is another important factor that may tip the scale in favor of a certain broker. This is particularly important for novice traders, who cannot afford to invest a lot at the beginning. Traders Union analysts have prepared an analysis of XTrend Speed fees and also assessed the size of its minimum deposit.
Short introduction of XTrend Speed
XTrend Speed is a classic broker providing CFD trading services for all major types of financial assets. The company works with traders from over 170 countries. The regulator of XTrend Speed is FSCA 23497 (South Africa), and CySEC (303/16) is the regulator of Xtrend's subsidiary, which represents the mobile platform Micro Trading.
| 💰 Account currency: | USD, EUR, GBP |
| 🚀 Minimum deposit: | From $10 (from $50 for Xtrend) |
| ⚖️ Leverage: | From 1:300, depending on the asset |
| 💱 Spread: | From $0.04 for the minimum order |
| 🔧 Instruments: | Currency pairs, shares, indices, metals, oil, and cryptocurrencies. |
| 💹 Margin Call / Stop Out: | 50%/ no information |
XTrend Speed Pros and Cons
👍 Advantages of trading with XTrend Speed:
•Low start deposits. The entry threshold is from $10 for XTrend Speed and $50 for the mobile XTrend platform.
•Popular MT4 platform for active traders. Simple mobile platform functionality. Perfect for novice investors who do not practice active trading.
•There is social trading with strict requirements for signal providers.
•The leverage is up to 1:300.
•Compliance with client service rules with the European MiFID II Directive requirements. Segregated accounts and an insurance fund.
👎 Disadvantages of XTrend Speed:
•Withdrawal commission.
•The website doesn’t provide all the information you need to understand the trading terms and advantages of the broker.
• Registration and communication with the Support Service are required.
Key types of fees on Forex
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Forex market:
-
Spread – the difference between the buy and the sell price of an asset.
-
Commission per lot.
-
Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
XTrend Speed Commissions and Fees
The experts at the Traders Union analyzed the trading terms and tariff policy of the XTrend Speed broker and its Xtrend mobile division. The analyses noted a lack of transparency in the formation of the overall client commissions. In particular, the website of XTrend Speed has no clear information about spreads and withdrawal fees. Xtrend's website lists the commission for withdrawal and provides a tariff grid: from 0.04 USD for Forex; from 0.4 USD for Gold and Silver, etc. Based on the bid/ask prices at the XTrend Speed website, we can conclude that for the EUR/USD pair the spread is from 0.4-0.5 pips.
| Account type | Spread (minimum value) | Withdrawal commission |
| МТ4/STrader | from $4 | Yes |
Why is it important to assess minimum deposit?
It is important for beginners and traders with limited financial capabilities to assess the minimum deposit of the broker. Different brokers offer different levels. Some companies focus on working with professional traders and their entry threshold is usually in the thousands or tens thousands of US dollars. Brokers that work with beginners offer low minimum deposit. It could be $500 or $100, or even $1.
In addition minimum deposit may differ depending on the account type. This is also an important factor to analyze. If a broker offers a low entry threshold, traders can get better conditions and still not spend too much money on funding their account.
XTrend Speed Minimum deposit
How to Start Making Profits — Guide for Traders
XTrend Speed offers 2 types of accounts —according to the platform types. The differences between the accounts are in the approach to calculating the transaction volume and in the capabilities of the platforms. MT4 is superior to STrader in terms of technical components and STrader is more suitable for passive investing.
Types of accounts:
Demo accounts are available for both terminals.
Brokers similar to XTrend Speed
When analyzing XTrend Speed, it is important to compare it with other similar companies. Before you choose a broker, it is important to compare its trading conditions with competitors. Traders Union analysts have prepared a comparison of the minimum deposit and other trading conditions of XTrend Speed and other brokers.
Comparison of XTrend Speed with other Brokers
| XTrend Speed | RoboForex | Pocket Option | Exness | FreshForex | IC Markets | |
|---|---|---|---|---|---|---|
|
Trading platform |
Micro Trading (Xtrend), STrader (XTrend Speed), MetaTrader4 |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, Mobile Trading |
MT4, cTrader, MT5, TradingView |
|
Min deposit |
$10 |
$10 |
$5 |
$10 |
No |
$200 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
|
Spread |
From 0 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0 points |
From 0 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
|
No deposit bonus |
No |
No |
No |
No |
$30 |
No |
|
Cent accounts |
Yes |
Yes |
No |
No |
Yes |
No |
Expert Opinion
When comparing FTMO to similar prop firms, its conditions seem generally competitive and a balanced offering. With reasonable fees, enough leverage for many styles and an achievable cost starting from €155, it presents a solid choice for prop traders to evaluate further. There are also no added commissions on top of the spread which keeps trading costs low.
Some traders may find the testing requirements to be on the strict side, but this ensures people have proven themselves capable of managing risk before gaining access to larger funded accounts.
Overall, for those interested in prop trading and wanting the guidance of a funded program, FTMO offers a decent option to consider. Just be prepared to treat the challenge period like the job interview that it is.
Conclusion
Analysis of XTrend Speed shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
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FAQs
What fees may be charged on ECN accounts?
As a rule, the fees are minimal on ECN accounts, with the spread rarely above 0.1 pips. Commission per lot may be charged.
If the fees are low, how does a broker make money?
As a rule, brokers with low fees earn on the fees thanks to high trading volume and also non-trading fees.
Is there trading without fees?
No. A broker may charge a minimum fee, but it will still be a fee. However, the company’s main source of revenue could, for example, be non-trading fees.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!