XBTFX Review 2024: Is It a Safe Broker For You?

Disclosure This content is for educational purposes only. Forex trading involves significant risk and may not be suitable for all investors. Ensure you understand the risks involved and adhere to local regulations before trading. Take a look at our detailed review methodology on how we curated a list of metrics to evaluate platforms featured on CryptoNewsZ. We may utilize affiliate links within our content and receive a commission.
XBTFX has been a well-established forex broker since 2019, providing favorable trading conditions across a diverse portfolio of over 200 instruments, including forex, crypto, precious metals, energy commodities, and equity indices. This platform is utilized by a broad range of traders worldwide, known for its quick, reliable transaction execution, tight spreads, low commissions, and wide market selection. In this XBTFX review, we’ll explore XBTFX in depth: its features, regulatory framework, pros and cons, available trading instruments, platforms, registration process, and details about leverage and margin requirements, among other points of interest.

XBTFX Overview

Official Website https://xbtfx.io/
Headquarters Antigua and Barbuda
Founded Year 2019
Regulated FSRC (Financial Services Regulatory Commission) – Not under an FX License
Instruments Offered Forex, Cryptocurrency, Commodities, Metals, Indices, Shares
Minimum Initial Deposit $10
Maximum Leverage 500:1
Islamic Accounts Yes
Demo Account Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) Yes
Trading fees Variable
Inactivity fee Average
Withdrawal fee Depends on choosen payment methods
Supported currencies BTC, ETH, LTC, XRP, BCH, BNB, ADA, XLM, DOGE, TRX, USDT, USDC, USDP, Multi-Collateral Dai
Customer Support Live Chat, Help Desk, Knowledge Base, & Social Media Support

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However, the platform assures smooth deposit and withdrawal operations using cryptocurrency with a payout process that’s typically completed within 24 hours. This commitment to efficiency contributes to its appeal among its 10,000+ satisfied customers across the globe. Moreover, XBTFX has collaborated with top-tier crypto processing and blockchain wallet providers in Estonia, making crypto transactions a breeze.

XBTFX User Interface

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XBTFX is designed to meet the needs of retail and institutional traders, fund managers, and small family offices. It offers well-regarded trading platforms MetaTrader 4, 5, and cTrader, along with a robust social trading platform. The broker is registered with the FSRC, based in Antigua, and is eyeing further expansion with a formal forex broker license in another jurisdiction later this year.

For traders, XBTFX offers high-leverage trading with cryptocurrency deposits and easy-to-setup accounts for both forex and crypto trading. Its vast array of trading instruments caters to most needs, except for interest rates and bonds. Impressively, it offers over 70 forex pairs and more than 200 CFDs in forex, commodities, indices, and cryptocurrencies.

XBTFX Key Features

Traders who wish to eliminate the risks of forex and crypto trading must find a reliable broker with a valid reputation and appropriate conditions. There are various reasons why XBTFX is better for trading forex and other trading instruments than its competitors in the market, such as:-

Tight Spreads

The spreads offered by XBTFX are tight, with a shallow commission structure. The raw spreads start as low as 0 pips, depending on the account type chosen by the XBTFX user. For instance, the Standard account has a slightly wider spread but without any commissions on the trades made; however, for an ECN account, traders have a “Volume commission” with tight raw spreads.

Range of Markets

XBTFX trading platform offers access to more than five asset classes and 200+ trading instruments instantly as soon as the traders register.

Why Trade with XBTFX?

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Deposit & Trade

Once registered on the XBTFX trading platform; you can instantly deposit using cryptocurrency. You’ll be joining a community of around 10,000 fellow forex traders.

Same-day Withdrawals

Lastly, withdrawals on XBTFX are processed within 24 hours so that traders can get hold of their funds on the same day.

Is XBTFX Regulated?

XBTFX is an officially recognized company in Antigua, registered under the Antigua Barbuda International Limited Liability Companies Act of 2007. It doesn’t currently need a financial services license in Antigua. Yet, the company plans to grow and establish itself in another jurisdiction, where it will pursue a formal forex broker license later this year.

XBTFX Review: Pros and Cons

Pros Cons
 Powerful forex trading platform options with a wide range of advanced tools.  Does not accept fiat currencies.
 Blockchain deposits and withdrawals are processed instantly.  Not officially licensed.
 Free demo accounts for beginners.
 Islamic Swap-free trading account.

XBTFX Market Instruments

XBTFX offers a variety of trading instruments across five asset classes and 200+ instruments, including forex, crypto, commodities, precious metals, energy, stocks, and indices.

Forex

XBTFX is one of the best forex brokers in the world, with a range of major, minor, and exotic currency pairs to easily speculate on the foreign exchange markets from both desktop and mobile devices. With a maximum leverage of 500:1 and more than 75+ pairs, such as EUR/GBP, USD/GBP, and more, XBTFX is an excellent platform for those who are looking for the best forex brokers.

Forex Trading with XBTFX

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Cryptocurrency

As the trading industry witnesses the soaring popularity of cryptocurrencies, numerous platforms have embraced this trend, and XBTFX is no different. For traders seeking exceptional crypto features, a visit to XBTFX would reveal a wide range of top crypto assets and crypto-denominated accounts for profitable trading opportunities. Depending on the underlying currency pairs, traders can enjoy a maximum leverage of 25x on crypto pairs, ensuring the enhanced potential for lucrative returns.

Commodities & Metals

A good range of commodities and metals is available on XBTFX trading services. Some popular commodities include Gold, Silver, Palladium, Copper, Oil, and Natural Gas, with a maximum leverage of 100:1.

Indices

XBTFX offers leveraged trading of up to 50:1 for popular indices like Germany 30, Euro Stocks 50, NASDAQ 100 index, Dow Jones Industrial Average 30 index, and S&P 500 index.

Shares

Regardless of the stock price, traders on XBTFX can own fractions of their favorite company shares with tight spreads and low commissions. These stocks are CFDs replicating an underlying asset class.

XBTFX Trading Platforms

Traders on XBTFX can access 3 different platforms to trade FX and cryptocurrencies. The platforms are industries-established and suitable for both new and experienced traders. The trading services and terminals are compatible with various web browsers and available on the mobile app. Let’s look into each of the XBTFX forex platforms in the section below:-

cTrader

The XBTFX cTrader is an advanced multi-asset trading platform for forex and crypto trading. It offers a cutting-edge infrastructure, unparalleled trade order execution, competitive pricing, and highly progressive and innovative trading experience without needing any dealing desk. cTrader is one of the most powerful trading platforms offering various features and functions for institutional and retail traders. It is the next-gen platform that supports multiple accounts and crypto balance on XBTFX with a fully customizable interface and charts. cTrader also offers fast entry and execution, processing multiple trades simultaneously and allowing traders to use demo accounts on all XBTFX trading accounts.

XBTFX cTrader Platform

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MetaTrader 4

An award-winning trading platform, MetaTrader 4 offers fast EA-trading execution powered by USD cryptocurrency stablecoins. With XBTFX MetaTrader 4, traders can deposit Tether USDT or USDC USD Coin and convert them into their USD wallet to start using an MT4 account with zero exchange commission and 1:1 conversion.

The MT4 platform has been simplified by XBTFX, offering only ECN USD MT4 accounts, tailored to manage a manual or automated trading strategy using un-tampered STP market order execution through OneZero bridging and super-fast liquidity in Equinix LD4 London Datacenter. The maximum leverage that can be used on this platform is 500:1 with a 0.01 minimum lot size without any trading restrictions.

MetaTrader 5

MetaTrader 5 trading platform offered by XBTFX is another award-winning multi-asset forex platform that offers technical analysis, tools, and outstanding trading opportunities with account balances in USD, USDT, BTC, ETH, and XRP. It allows using automated trading systems, also known as trading bots, and copy trading features. MT5 is an all-in-one trading platform for forex, futures, stocks, and crypto trading. The MT5 trading platform is compatible with personal computers and mobile phones, including Android and iOS.

XBTFX MetaTrader 5 Platform

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XBTFX Social Trading Platforms

PAMM

PAMM is ideal for investors and money managers. With the PAMM trading platform, investors can leverage their trading successes by creating their investment funds and getting paid for the profits or volumes made on their investor accounts. PAMM is a multi-account manager that allows fund managers and sophisticated traders to manage multiple accounts with a single click of a button.

With this feature, traders can leverage up to 100x for forex, 25x on crypto, 100x on metals, and 50x on CFDs. It is supported on MetaTrader 5 platform and is traded only on raw ECN accounts under the platform’s default fee schedule. The XBTFX social platform offers basic and advanced functions for all traders. Every registered user on XBTFX can become an investor in PAMM accounts irrespective of how much funds they have on the PAMM platform.

MAM 

MAM or multi-account manager manages client funds with a flexible allocation method and allows fund managers and traders to manage their accounts with the click of a button. There are a total of 10 allocation methods for these managed accounts. MAM Masters are allowed to deactivate traders and allow them to skip certain positions without subscribing to them. Note that both activation and deactivation do not close opened trade positions.

XBTFX MAM Platform

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Copy Trading 

Copy trading is an essential feature of a forex trading platform, and every new trader can benefit from copy trading. The XBTFX Copy Trading function allows users to automatically copy trade positions managed and opened by other forex traders. Successful and professional traders can trade using their usual accounts, but they get paid for their successful trades by charging payments chosen by them. Using the copy trading feature on XBTFX is powerful yet easy without any limitations.

There are 4 automated fee payment types, and investors can close their copied orders in Web UI. They can use unlimited subscribers from one trade master with automated risk limits. The followers have complete control of their live accounts. They can open or close trade positions copied from their Masters or stop following them immediately by unsubscribing them.

XBTFX Account Opening Process

Creating an actual account on XBTFX is straightforward and takes only a few minutes to complete. To start trading on XBTFX, follow the simple steps mentioned below:-

  1. Open the official site of XBTFX.
  2. Navigate to the blue Register tab available on the right-hand top corner of the landing page.
  3. A registration form will appear on the screen, which needs to be filled in with client details, such as real name, a valid email address, unique and strong password, phone number, and country of residence.
  4. Accept the terms, conditions, and privacy policy of the website and read the risk disclosure.
  5. Enter Continue to confirm the email ID. A verification code will be sent to the email address.
  6. Enter the code to confirm the email ID and create an XBTFX trading account.

XBTFX Sign Up Process

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Types of XBTFX Accounts

XBTFX offers both standard and ECN accounts to match the needs of all types of traders, including beginners and professionals, with flexible trading conditions and high leverage that goes up to 500:1. The kinds of XBTFX accounts have been mentioned below:-

ECN Account

ECN accounts are zero makeup raw spread accounts that charge a flat commission of $3.5 per lot per deal. Essentially, ECN accounts are preferred by investors looking for a separate commission for trading scalpers, and PNL requires the lowest spreads to trigger a low timeframe order without additional spaces.

Standard Account

Standard accounts are more suitable for uncommissioned trading, where all the trading charges are built into the spreads. Traditional accounts simplify the overall trading process and provide an advantage to the traders for having all costs calculated in PNL rather than getting commissions charged on separate lines. Essentially standard accounts are preferred by swing and position traders.

Demo Account

XBTFX also offers a demo account which is an ideal choice for novice traders who want to test their trading potential and get familiarized with the platform’s features and functions without any real money deposits. A demo account allows traders to carry out their trades using digital currencies without getting exposed to risks since the profits and losses are simulated. Once the trading strategies have been tested and the traders have learned about how the market moves and how to place orders, they can create a real account to trade with real funds.

Islamic Account

Islamic XBTFX trading account is for traders who must comply with Sharia Law. These are also known as swap-free accounts with no swap or rollover interest for overnight positions. Islamic trading accounts do not charge for daily exchanges and offer superior execution that powers the standard and ECN accounts simultaneously.

XBTFX Account Types Comparison

ECN Account Standard Account
Minimum Deposit $10 $10
Deposit Fee Zero Zero
Withdrawals Same day Same day
FX, Commodities & CFDs fees $3.5 per lot per side Zero Commission
Cryptocurrency fees 0.075% per deal. Zero Commission
Share CFD, Per Share USA: $0.10, Russia, Asia, EU: 0.45%. USA: $0.10, Russia, Asia, EU: 0.45%.
Spreads Starting from 0.01 pips Starting from 0.01 pips
Metatrader Account Base Currency MT5 – USD, BTC, ETH, DAI, XRP, USDT MT5 – USD, BTC, ETH, DAI, XRP, USDT
Leverage* Up to 500:1 Up to 500:1
Platform Symbol Suffix None “.” & “!”
Islamic Account Option Yes No
Execution Server London Equinix LD4 London Equinix LD4
Micro Lot Trading (0.01) Yes Yes
Automated Expert Advisor trading Yes Yes
Trading Styles Allowed All All

XBTFX Leverage & Margin Requirements

When comparing XBTFX to other brokers, one notable advantage is its extensive range of leveraged trading options for over 200 trading instruments. The specific leverage ratios offered depend on the asset class being traded. It is important to keep in mind that although leverage can enhance profits, it also has the potential to amplify losses. To provide further clarity, below, you will find a breakdown of the available leverages and corresponding margin requirements for each asset class.

  • Forex – up to 500:1 based on the leverage chosen while creating the account
  • Metals – up to 100:1
  • Commodities – 20:1
  • Index CFDs – 50:1
  • Share/Stocks CFDs – 5:1
  • Crypto Majors – 25:1
  • Crypto Extended – 5:1

XBTFX Trading Fees

XBTFX charges nominal trading fees and other fees depending on the account type the traders use. There are no deposit fees for Standard MT5 and ECN MT4, and MT5 accounts. For withdrawals, XBTFX does not charge anything for non-ETH ERC-20 tokens. However, for ETH ERC-20, specific fees are applied; hence, traders must refer to the official website before making an account with XBTFX.

For Standard account holders, there is zero commission on Forex, CFDs, commodities, and crypto trading. However, US traders have to pay $0.10 for share CFDs, and EU, Asian, and Russian traders have to pay 0.45%.

For ECN account holders, XBTFX charges $3.5 per lot per side for forex, commodities, and CFDs, 0.075% per lot per side for cryptocurrency trading, and shares CFDs, USA traders have to pay $0.10 and 0.45% for EU, Asian, and Russian traders.

Islamic account holders must also pay fees depending on the asset classes traded for crypto, it is 0.15% per side; for Share CFD, it is $0.10 (USA) and 0.45% (EU, ASIA, and Russia); and for the rest others like FX, Commodities & CFDs it is zero. Also, they do not charge any swap fees from Islamic account holders.

XBTFX Deposit and Withdrawal Options

XBTFX accepts deposits and withdrawals of cryptocurrency only. Traders can deposit funds in the following currencies:-

  • Bitcoin
  • Ethereum
  • Litecoin
  • Ripple
  • Binance coin
  • Dogecoin
  • Tron
  • Tether
  • USD Coin

On average, the minimum deposit is $10, but it may vary depending on the currencies being used by the traders. The time required to process a withdrawal on XBTFX may range from minutes to 24 hours, depending on the review and wallet replenishing required by their Payments team. The minimum deposit and withdrawal limits depend on the stablecoin or the crypto coin being used in the trading account. Note that the minimum deposit does not guarantee that the traders can trade the minimum trade size for all digital assets on XBTFX.

XBTFX Refer & Earn Program

XBTFX affiliates can earn up to 30% commission on referral revenue. After registering for the XBTFX affiliate program, partners are given a link that needs to be shared with friends and family to earn revenue, paid every hour, in US dollars, for the volume revenue of closed trades. The affiliate program is a multi-level structure that pays depending on the earnings brought in by the active clients. The affiliate payout structure is shown below:-

Total Active Traders Revenue
1-5 10%
6-9 20%
10+ 30%

Educational Resource Offered by XBTFX

XBTFX website contains enriching educational content in the Learn section and the latest news. The blog-style format offers announcements and analysis with valuable information suitable for novice and experienced traders. Video content, imagery, and graphs are used to provide educational content on various topics, including long-term asset price predictions, foreign exchange, crypto, CFD broker updates, and schedule time changes. Trading basics such as leverage, forex terminologies, understanding charts, trends and patterns, traditional financial markets, and security protocols used on foreign exchange platforms are also provided for XBTFX users.

XBTFX Educational Resource

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XBTFX Restricted Countries

The use and access of the XBTFX platform and services are not allowed for those located in the following countries – Cuba, Belgium, Russia, Belarus, Democratic People’s Republic of Korea, the regions of Donetsk and Luhansk, Yemen, Syrian Arab Republic, Sudan, United States of America, Iran, and Antigua and Barbuda. Access to the platform’s services, however, does not necessarily mean that the activities through the platform are legal under regulations, local laws, and directives associated with the country of residence. Hence, every trader must consult with legal tax advisors of their jurisdiction regarding eligibility for these services.

XBTFX Security Measures

XBTFX implements several security measures that ensure a confidential transmission of client information between XBTFX and its users. Customers are solely responsible for maintaining the privacy of their passwords to prevent unauthorized access to trading facilities on XBTFX.

Regarding the security of client funds, most (around 95%) are stored in cold wallets. This means that most crypto funds are kept from the internet and cannot be accessed by criminals. The remaining 5%, the “hot” environment funds, are used to pay withdrawals or initiate deposits. They are managed with multi-signature wallets. All XBTFX communication is secured with SSL encryption. This means that all personal data on the platform are secured and cannot be snooped on. This is an excellent tool for users to spot phishing attempts.

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Additionally, there are many security tools to prevent accounts from getting compromised. For instance, two-factor authentication ensures no third party can access the trading account without the client’s details. Hence, even if a hacker has a client’s password, they will not get access to the trading account without second-factor authentication, which is usually biometric information.

XBTFX Customer Support

Having poor, unresponsive, and inefficient customer support can be highly frustrating for traders of all types. Traders often have to wait for long hours to receive customer service. XBTFX stands out for its commitment to providing prompt service to all platform users. Their agents offer excellent service in a responsive and friendly manner.

XBTFX Live Chat Support

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XBTFX customer support offers service via different channels, including live chat powered by Messenger. They also answer client queries via email, Facebook, or Twitter. Traders can also check out their Knowledge Base, which covers a variety of topics, including deposit and withdrawal methods, trading platforms, liquidity, regulations, suitable trading conditions, trading strategy, mobile trading, wallets, funds, security, and many more.

XBTFX Review: Conclusion

To conclude this XBTFX review, the Broker gets all our positive reviews and ratings. It offers valuable features and functions, high-level leverage, good conditions for foreign exchange and crypto trading, and, most importantly, a platform with a proper reputation.

XBTFX allows traders to trade different markets worldwide with fast execution and reliable trading conditions with minimal slippage. XBTFX LLC is a dedicated provider of CFDs, forex, cryptocurrencies, and many other instruments and trading services. It is undeniably a good broker, offering automated trading, 3 different trading platforms (MT4, MT5, and cTrader), and copy trading features, including PAMM, MAM, and copy trading. However, one drawback of using XBTFX is that traders can not use fiat currencies to make payments on the platform. This can be disappointing for those who do not use crypto for trading.

FAQs

Is XBTFX Safe?

Yes, XBTFX is entirely safe, and the broker has acceptable trading conditions. With an exceptional reputation and a proven track record, XBTFX has established itself as a trustworthy and secure provider of various trading options, including forex, crypto, commodities (such as gold, silver, and oil), shares, and indices. Traders can have full confidence in the reliability and security provided by XBTFX.

Does XBTFX Offer a Bonus?

Yes, at the time of writing this XBTFX review, there is a 25% Credit bonus offered by XBTFX LLC to all its clients under specific terms and conditions mentioned on the official website.

Where Is XBTFX Located?

Established in 2019, XBTFX is in Antigua and Barbuda (Address – Hodges Bay, P.O. Box 1348, St. John’s, Antigua).

What Is the Minimum Deposit at XBTFX?

On average, the minimum deposit at XBTFX is $10. This limit usually varies depending on the currency chosen by the traders.

Is XBTFX Good for Beginners?

XBTFX is ideal for beginners, offering a demo trading account, high leverages, spreads, large built-in marketplaces for trading strategies, expert advisors, custom technical indicators, and enriching educational and FAQ sections.

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