It looks like XTrend Speed is quite popular among investors. Therefore, we decided to check it out and see what’s the thing that attracts half a million visitors per month.
Our detailed XTrend Speed review will cover all aspects of the company’s business, including the scope of the license. Read on to learn more about this trading provider.
The brokerage is registered as Rynat Capital (Pty) Ltd, authorized in 2007. The brand says to own another entity, in Cyprus, under the same name. However, this one operates simply as XTrend. We cannot confirm the correlation between the two.
When it comes to XTrend Speed, it’s a financial services provider under a Tier 2 license. Unlike major authorities like FCA, BaFin, or ASIC, FSCA has looser licensing demands. For instance, brokers don’t need to limit leverage or form a compensation fund.
If you have any information about XTrend Speed and its operations, don’t hesitate to share it with our dedicated team.
XTrend Speed is a South African-registered trading brokerage with an FSCA license. The company recently partnered with ACF Fiorentina as its sponsor.
We did a thorough analysis of XTrend Speed’s operations. The firm is mainly active in the following countries:
While some of these are covered by the CySEC license (if there is one), they should be redirected to XTrend. On the other hand, countries like India and Malaysia have their respective license providers that must approve the broker before they can offer investment services.
From the way it looks, XTrend Speed offers solid service. Customers on Trustpilot rated the broker as excellent, with 4.8/5 stars. However, the majority of them come from the EU, meaning they should be dealing with the allegedly related Cypriot branch. There are not many reviews related to the South African one.
If you choose this broker for investing, you will find an XTrend Speed trading platform available for download. It’s STrader, a proprietary “premium cross-platform software.”
The brokerage offers a Mobile Trading App and a PC Trading App, so you can choose to trade from any device. Each supports news flash, market analysis tools, technical indicators, and market alerts.
However, it cannot come close to what you’d get with third-party software, such as MetaTrader. Whether you choose MT4 or MT5, you will get advanced functionalities, such as EAs, as well as a vast number of features, including Autochartist.
This company supports trading in the following markets:
Crypto trading is not supported, being a significant drawback of this financial intermediary.
There are no specifications for market conditions. The broker says it offers a floating spread depending on market volatility and available liquidity. Other than that, we know that leverage can go up to 1:300, depending on your trading skills.
There are no XTrend Speed account types per se. The company didn’t provide us with any list, and we don’t know how much you need to deposit. In fact, there’s a banner claiming that you can trade for free. As you surely know, you cannot make money without money.
It’s rather odd that one licensed trading company lacks basic terms and conditions and dedicated account types.
In its weird manner, this company will give you a Test Our App Coupon once you register. Then, you can redeem the coupon and get $300 for a trial XTrend Speed Demo account.
Note that special T&Cs apply to this account type, and ensure you read them carefully. You can be charged later without knowing why or how.
Besides test coupons, this firm offers various bonuses. For instance, you can get up to a $50 no deposit bonus before investing in yourself.
Other than that, you can earn credits, where each credit is $1. You must complete tasks or purchase a membership card to gain these. With the card, you can get exclusive credit and cash back for fees charged on cash trading.
You can also participate in the Traders Ranking, Deposit and Earn Rewards, or other welfare activities. Finally, you can invite other members and earn credits through an affiliate commission.
Here are viable payment options for XTrend Speed withdrawal:
The minimum withdrawal amount for all of the above is 20 units in the local currency. Additionally, there’s a fee of 3.5% for all except for the latest method. There, you will pay $5 up to $100, $15 up to $500 payout, $20 up to $1,000, and $50 up to $2,000.
According to the website, it will take 3-5 working days for the funds to appear in your account.
XTrend Speed is a Rynat Capital (Pty) Ltd brand registered in South Africa. The firm claims to have another entity in Cyprus trading as XTrend, which we couldn’t confirm.
Once you register with the company, you can trade through their proprietary platform, STrader, whether through a mobile or a PC app. The company didn’t list a minimum deposit required to start investing.
Let us know if you experience issues with this or any other online trading brokerage. Global Fraud Protection has dedicated chargeback experts and CipherTrace crypto analysts we’ll use to evaluate the situation and check whether you have legal grounds to request money back.
XTrend Speed is a trading brokerage under a South African license. In case of any issues, we may be able to assist with a refund request to the relevant authorities.
Yes, XTrend Speed has a mobile trading app for Android and iOS devices.
You can get a $50 welcome bonus and up to a 100% deposit bonus.
XTrend Speed is a trading brokerage under a South African license. In case of any issues, we may be able to assist with a refund request to the relevant authorities.
Yes, XTrend Speed has a mobile trading app for Android and iOS devices.
You can get a $50 welcome bonus and up to a 100% deposit bonus.
The post XTrend Speed Review – Should You Trust This Broker? appeared first on Global Fraud Protection.
