xCFD Broker Scam Review. Binary Scam Watch Monitor has been collecting and analyzing information regarding a new CFD broker. Many people are trying out this form of trading in addition to binary options and forex. This review is pertinent to understanding the way CDF trading operates and whether you should trust the broker xCFD. Please continue reading to get the full picture!
DESCRIPTION: xCFD is a regulated CFD broker that was founded in 2013. It handles the accounts of thousands of traders annually and has been paying out consistently…
xCFD Broker Scam
Official Website Link : https://xcfd.com/en/
***PLEASE NOTE**** CFD and Forex are prohibited to US citizens.
What is CFD Trading?
CFD or Contract for Difference is a trading platform, where traders can speculate (guess) on whether an asset will go up or down, and then buy a position. This position will either win or lose, and the person will either win money or lose money. Each gain or loss is dependent on the percentage the trade wins or loses with when the trade is stopped.
Trades placed with CFD platforms do not have a set expiry, as they do in binary options. Rather, you must set a stop/loss for each trade. Once this limit has been reached, the trade will automatically end, and your account will be credited whatever percentage you won by. Likewise, if you lose the trade, your loss will be deducted from your balance by whatever percentage you lost by.
This probably sounds very confusing. Compared to binary options trading, CFD does sound rather complicated. However, if you want to understand how it works there are many educational videos available to learn by as well as CFD brokerages that will teach you how to trade.
CFD trading and Forex trading are actually quite similar, although both differ from binary options trading and both are far more complex. After you learn how to trade with CFD you will find it relatively easy. If you want to learn about Forex trading, you can read about it HERE, along with our review of the best Forex broker.
What is xCFD?
xCFD is a regulated CFD broker that was founded in 2013. It handles the accounts of thousands of traders annually and has been paying out consistently. The xCFD platform is designed for people who have a bit of trading knowledge. It isn’t the best place for new traders, unless you plan on practicing a strategy on a demo account first.
– Fully Regulated. xCFD is a CFD broker located in New Zealand. They have offices located both in NZ and in Greece.
– Low Minimum Deposit. xCFD recently lowered their minimum deposit to $10. However, to be truly successful trading, we recommend starting with more than that.
– Demo Account. After you open a real account with xCFD you can choose to trade on a demo account while you learn the ropes of successful xCFD trading.
– Large Array of Language Selections. xCDF offers the following languages on their platform: English, Italian, Spanish, German, Russian, Portuguese, Dutch, Arabic, Polish, Chinese, Indonesian
– Wide Selection of Funding and Withdrawal Options. The funding and withdrawal options include the following: Bank Wire Transfer , Cash-U , Credit Card , Moneta.ru , Neteller , Skrill , Webmoney , Yandex.Money , Bitcoin
– Inclusion of All Major Assets to Trade. xCDF offers every major asset to trade with, including but not limited to: Metals, Gold, Oil, Currencies, Stocks, and Commodities.
– NO Social Trading Platform. At this time xCFD does not offer social trading. This is where our favorite Forex broker has a huge edge. Social Trading provides a unique opportunity for traders to chat with other users and stay on top of new strategies and user feedback. Unfortunately, xCFD does NOT provide this service.
– Deposit Bonus Offered. Though many of you reading are wondering why we included the offer of a bonus under our cons, we will always view a bonus as a bad idea. Bonuses come with terms and conditions that most traders do not read or understand. These rules can cripple your account, making it next to impossible to withdraw your profits. Please DO NOT accept bonus offers!
User Feedback on xCFD
We collected a great deal of user experiences regarding xCFD. The majority of traders came away with positive experiences. There was a significant amount of people that claimed to have been unfairly treated by xCFD. When looking into this further we noted that most of these people were having problems withdrawing profits after accepting a bonus offer.
This is precisely why we NEVER recommend a traders bonus! It may seem like a great idea at the time, but it never is.
That being said, we are not discounting the negative feedback. However, the positive feedback did outweigh the negative at a 2:1 ratio.
We believe there is a much better alternative to xCFD, one which is far superior! That system is reviewed in full here. Please check with us because we often offer a cash back reward to people who sign up. This is NOT a bonus, but a real cash back transfer.
Check out Tradeo HERE and message us with any questions!
If you want to try out xCDF, you can sign up below Please send us all your feedback after working with them and after you open your account make sure you email us on [email protected] so we can help you and give you some strategies and tips.