The Cash Diaries

My experiments in passive income, trading and life

Making money with xtrade

So a few monthsXTrade ago, I decided to start looking for a new Forex broker to replace plus500.  I still love and use etoro everyday for copytrading, but for opening my own positions, I needed something new.  Plus500 was just annoying the hell out of me with it’s interface.

After some research I thought I would give xtrade a go.  They offer a $20 bonus, with no deposit required, so I was able to test them out without any risk.

Can I just say that I’m loving trading with xtrade.  It is definitely a massive step up over plus500.  The webtrader is well designed.  And I actually enjoy using the mobile app – which I don’t usually like on forex platforms.  They offer all the usual CFD’s, currencies and indicies you would expect.    I should also point out they are fully regulated which is an essential requirement for me.

How I Use xtrade

I use xtrade to trade CFD’s.  These financial products allow you to trade stocks without actually having to own the stock.

During the recent oil crash, I was opening short positions on OIL.  Yeah, this is quite a risky play.  But it generated the most profit for me.  My less risky and more reliable trades have been buying stock CFD’s in companies that I know and use.  Like Apple, Netflix, Amazon, Google (alphabet) etc.  I’m not going to go into my trading strategy here, but it’s all about supporting companies that I think are creating cool products which people love.  It’s worked for me.  But i’m sure you have your own strategies.

Xtrade is Easy to Use

The web trader interface is really nice.  And one of the best browser based platforms out there.   They also have a mobile app, which they claim is the most popular mobile trading app in the world.  I’ve got no reason to doubt this.  Let me know in the comments how you find the interface.

Easy Deposits and Withdrawals

Xtrade offers a ton of different funding options, so you’ll be covered no matter what you use.  I’ve found the funding and withdrawal process to be completely seamless and havent had any complaints for the short few months I’ve been using it.  I’ll obviously update this if things change.

If you’re a Forex Beginner….

Are you new to Forex?  Then I still recommend you use eToro or at least start on xtrade with a demo account.  eToro is great for beginners because you can just copy the trades of gurus as opposed to having to pick the markets yourself.

Demo Accounts and $20 Real Account Bonus

Xtrade gives you a free demo account – if you’re new to forex trading then you should definitely be using this.  When you’ve got a little experience and are ready to try trading for real, you can claim a free $20 bonus.

Try out xtrade here

2 Comments

  1. ok so say that i deposite using my credit card (of 10k limit) and i generate a profit of 30k and i want to withdraw: where does all profit go? does it get credited into my credit card?

    • Matty

      April 27, 2017 at 3:36 am

      I’ve never withdrawn to a credit card, it’s always been to a bank account or paypal or some other digital wallet. They usually withdraw to the method of deposit but I’m not sure if that’s the case with Credit Cards. Sorry I couldn’t be more helpful

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