XtreamForex Analysis

XtreamForex Analysis

XtreamForex is an offshore broker that offers trading in currency pairs, contract for difference (CFD) on stocks and commodities, and precious metals on the most popular trading platform, MetaTrader 4. The company started operating in its headquarters in Majuro since 2016. XtreamForex’s brokerage domain is owned and operated by Grand Investing Ltd., a business entity located in Southeast Europe. According to XtreamForex’s website, the company is registered in the Marshall Islands. XtreamForex is highly committed to offering products and services to both retailers and institutional customers. 

XtreamForex is a member of the Investor Compensation Fund (ICF). This means that clients’ funds are held in segregated bank accounts by following the requirements of ICF’s regulations. Furthermore, XtreamForex broker claims that it provides negative balance protection, ensuring that its clients do not lose more than they have invested. If a client is stuck in a bad trade and started losing money very fast, a margin call can save the client from incurring debt.

XtreamForex Analysis

XtreamForex Registration and Audit

Forex traders and brokers from the Marshall Islands do not have to undergo a strict registration process. In XtreamForex, traders and brokers do not need to face any stringent requirements unlike their US and UK counterparts. The registration procedure is quite simple. While there is no need for them to report their transactions to the regulatory bodies, the company does it anyway. 

XtreamForex is not obligated to conduct audits but claims to have both internal and external auditors. XtreamForex’s internal auditing is conducted by KPMG International Cooperative while external auditing is conducted by Ernst and Young Global Limited. The brokerage firm has been able to publish financial results based on its performance in the last few years. Therefore, XtreamForex has established its credibility in the market as well.

Trading Conditions at XtreamForex

XtreamForex offers four account types to cater the needs of traders and investors. All account types are free of commissions and offer variable spreads. XtreamForex does not allow scalping, hedging, and Expert Advisors (EAs) trading strategies. The company provides swap-free trading services to Islam clients to ensure adherence with Sharia-compliant trading. It is only accessible to micro and standard account types. 

XtreamForex’s trading platform is MetaTrader 4 (MT4). It is a perfectly equipped platform that allows clients to trade Forex, CFDs, and other related products. It provides tools and resources necessary to analyze price dynamics in financial markets, transact, create, and use Expert Advisors (EAs). EAs are advanced automated trading systems capable of automatically analyzing economic situations, opening and closing positions, and placing, modifying, or deleting orders. Desktop and mobile versions of MT4 are available for Android and iPhone users.

XtreamForex Analysis

Maximum Leverage

XtreamForex offers a 1:500 maximum leverage rate. Many offshore brokers offer similar proportions. Forex Broker Inc. also offers leverage up to 1:500, while FX Choice’s maximum leverage levels reach 1:200. XtreamForex advises its customers to trade carefully with higher levels of leverage as they can not only multiply their profits with a small deposit, but can also cause large losses that exceed initial investments.

Initial Deposit and Payment Methods 

XtreamForex requires a minimum investment of $10 from traders to open an account, which is a very low minimum deposit requirement. This offshore broker has established a minimum initial deposit requirement compared to its competitors. By comparison, Belize-based FX Choice Forex broker requires a $100 minimum deposit for all account types including Electronic Communication Network (ECN) accounts.

XtreamForex offers a large number of payment methods such as Neteller, bank wire transfer, Skrill, debit cards or credit cards, Bitcoin, and China UnionPay to accommodate all of its international clients. The company has its account management portal for payment methods called MyXtream. XtreamForex does not charge commissions for deposits and withdrawals.

XtreamForex Analysis

Conclusion

XtreamForex is an offshore brokerage company that offers suitable and reasonable conditions to trade a variety of products through MT4. It has a simple registration and verification process. Bitcoin funding is also accepted. XtreamForex accepts clients from all over the world, excluding some countries where restrictions apply. The only concern a client might have with this brokerage is its more flexible regulation. However, XtreamForex is a member of the Investor Compensation Fund (ICF) and is registered. Rest assured customer funds are safe with XtreamForexForex broker. 

XtreamForex Analysis