XBTFX Regulation, Licensing and XBTFX review

XBTFX review

We were saddened to learn from our analysis of XBTFX.io that the broker is an offshore organization operating without regulatory compliance. In St. Vincent and the Grenadines, this is frequently the case with brokerages and financial services. XBTFX  review are positive. Customers might not have access to sufficient financial protection in the event of business bankruptcy or unfair practices because the company is solely subject to the SVG Limited Liability Companies Act.

Although a thorough examination of the terms and conditions revealed that monies would be gathered into a single “Omnibus Account,” client funds are kept in segregated accounts. This implies that specific monetary claims for unfair service will not be allowed from individual traders.

Additional Features

The website of XBTFX includes news and educational parts. Both novice and seasoned investors will find material in the blog-style format that contains announcements and analyses. The teaching material is supported by graphs, video, and pictures. Long-term asset price forecasts, adjustments to the trading schedule’s timing, and broker updates are among the topics covered. Less experienced traders can also find knowledge on trading fundamentals including forex terminology, reading charts, and employing leverage. Every week, information is updated.

Account Types

Standard and ECN are the two account types that XBTFX provides. Both trading accounts provide customizable trading settings to meet the demands of novice to experienced investors. Both accounts have access to all trading products, modest $5 minimum deposit requirements, and compatibility with all investing philosophies. BTC, ETH, USDT, or USDC are the base currencies for MT5 accounts, but MT4 accounts can only trade in USD. Customers can make deposits using different cryptocurrencies by exchanging them for base currencies.

Standard Account

Suitable for traders that favour no commissions with spreads that include trading costs. Position and swing traders commonly use these accounts.

  • Only MT5 Spreads start at 1 pip
  • Optional Islamic accounts
  • accessible micro-lot trading
  • Minimum deposit of $5 required

ECN Account

Accounts with raw spreads and fixed commissions for each trade. Those that scalp and have very short-term tactics frequently use these accounts. Forex trading apps are the key factor of forex network.

  • Spreads on MT4 & MT5 start at 0.01 pip
  • Accessible micro-lot trading

Minimum deposit of $5 required

The process of creating an online account only takes a few minutes. XBTFX may request identify verification documents from you in accordance with know-your-customer (KYC) protocols. Two levels of KYC are used by the broker. Level 1 offers basic trading access, although there are certain limitations, such as withdrawal constraints. Your phone number, email address, and nation of residency must be provided. To be eligible for unlimited withdrawals and a weekly exchange limit of $100,000 in comparable digital currency, you must satisfy level two compliance standards.

Trade Times

The broker operates from regular business hours Monday through Friday and offers 24-hour trading. Stocks, indexes, and commodities are frequently constrained by the exchanges on which they are traded, therefore these timescales may vary depending on the item. Cryptocurrency is always accessible and has no set business hours.

Customer Support

Email, an integrated helpdesk, Facebook, and Twitter are all ways to get in touch with XBTFX. The website also includes a “Knowledge Base” FAQ area.

Security & Safety

Passwords are required to access the broker’s member area. Passwords are cryptographically hashed and all personal information transferred between client terminals and the platform service is encrypted using high-standard security protocols. All systems are continuously watched for hacking attempts and scams, and client funds are kept in cold storage wallets. To defend against assaults including distributed denial of service, the broker collaborates with Cloud flare (DDoS).

All XBTFX users have access to additional account security safeguards. This features wallet whitelist capability and two-factor authentication (2FA) for login and withdrawal purposes.

XBTFX Verdict

In general, we were delighted with the services provided in our XBTFX review. The cryptocurrency-based broker provides superior security features, demo accounts, free crypto deposits and withdrawals, and trading platforms that have been around for a while. Although the broker’s lack of regulation is not unusual in the DeFi industry, given that its services include CFDs and FX, some traders may be turned off by this. Despite the fact that the security requirements in place are relatively high, we would advise caution when investing personal cash in these products owing to the lack of protection and compensation plans.