XBTFX Forex broker review — Everything you need to know

Minimum deposit

$10

Bonus

None

Maximum leverage

1:500

Year founded

2019

Regulation

Seychelles FSA

Trading platform

cTrader, MT5

XBTFX is a Forex and CFDs broker that was established in 2019, providing access to various financial markets like FX pairs, cryptos, commodities, indices, and even shares. The broker offers MT5 and cTrader platforms, and multiple account options are available, including ECN and standard account types. With a leverage up to 1:500 and low minimum deposit requirements of just $10, XBTFX is designed for both beginners and experienced traders.

XBTFX Safety and Security

XBTFX (SC) Ltd. is regulated by the Financial Services Authority (FSA) in Seychelles. The broker operates under XBTFX LLC in Antigua & Barbuda, where regulatory requirements are much less strict, requiring no license to operate as a broker. While it has only one official regulatory license, XBTFX partners with liquidity providers overseen in Cyprus and Mauritius, offering low spreads on both STP and ECN accounts. There is mostly positive trader feedback on various online platforms, which indicates that the broker is legit and transparent, but traders should remain cautious due to the broker’s offshore license.

XBTFX Overview of the website

The XBTFX website is user-friendly and responsive, providing easy navigation for traders to find information on account types, platforms, and markets. Tools like the economic calendar are built inside the website, and there is a blog as well. The website is only available in English, which is a drawback for the broker.

XBTFX Accounts Reviewed

XBTFX offers several trading accounts under different jurisdictions. Traders can choose between ECN, standard, and ECN Gold types. There is also an Islamic account available for those following Sharia law. Demo accounts are also offered and allow traders to test strategies and familiarize themselves with the trading conditions of XBTFX.

XBTFX ECN Account

The ECN account is designed for traders who prefer raw spreads with the commission-based trading model. Main features include:

Minimum deposit: $10
Leverage: 1:500
Spreads: From 0.01 pips
Commissions: $2.75 per lot per side
Crypto fees: 0.05% per deal
Expert Advisors: Supported
Minimum lot size: 0.01 lots

XBTFX Standard Account

The standard trading account is commission-free, and spreads start from 1 pip, which is the accepted standard in the FX industry. Here are the key features:

Minimum deposit: $10
Leverage: 1:500
Spreads: From 1 pip
Commissions: Zero
Crypto fees: 0.05%
Expert Advisors: Supported
Minimum lot size: 0.01 lots

XBTFX ECN Gold

This account is almost a replica of other ECN accounts, except it has a minimum deposit of 25,000 USD. Here are the main features:

Minimum deposit: $25,000
Leverage: 1:500
Spreads: 0 pips
Commissions: $2.75 per lot per side
Crypto fees: 0.05%
Expert Advisors: Supported
Minimum lot size: 0.01 lots

Deposit and withdrawal options at XBTFX

XBTFX accepts multiple payment methods, including bank wire, Skrill, Sticpay, Volet, Bitcoin, Ethereum, Litecoin, and more. While deposits are commission-free and processed instantly, withdrawal times are not explicitly stated, which is a downside. However, wire transfers typically require 3-5 business days to process. Traders can also fund their accounts using crypto in their wallet and then transfer funds instantly to their trading account.

XBTFX Assets — What can you trade?

XBTFX offers access to a diverse selection of instruments, including:

Forex – 80+ currency pairs, including majors, minors, and exotic pairs
Cryptos – Popular crypto CFDs like BTC, ETH, etc.
Commodities – Metals, precious metals, etc.
Indices – Popular indices.
Shares – CFDs on popular major markets.

The high leverage of 1:500 allows traders to control larger positions, increasing both potential profits and risks.

Trading platforms of XBTFX

XBTFX supports two leading trading platforms, MetaTrader 5(MT5) and cTrader. MT5 is a popular platform with advanced charting tools, support for custom indicators and algorithmic trading (EAs), and multi-asset support. cTrader is also an advanced platform with similar specs and features to MT5. Mobile trading is available via MT5 and cTrader mobile apps, available on iOS and Android. The broker also supports MAMM and PAMM accounts for managed trading solutions.

Education at XBTFX

The broker also provides educational content through its trading blog, which mainly includes articles on market trends and trading tips. Despite this, the educational resources are still limited, with no webinars, video tutorials, or structured courses.

XBTFX Customer Support

Customer support is available via live chat, email, and hotline. Traders can choose between different email contacts based on their inquiry. Phone support is available, but only in English. Live chat is responsive and allows users to switch between the Seychelles and Antigua & Barbuda branches for assistance.

XBTFX bonuses and promotions

The broker does not provide deposit bonuses or any type of promotions at the moment, which is a downside. The broker offers some tools, such as an economic calendar and copy trading, but there are no bonuses to enhance traders’ trading power.

Is XBTFX your broker? Final verdict

XBTFX provides competitive trading conditions, plenty of different assets for trading, and advanced platforms like MT5 and cTrader. The spreads are low, and both ECN and standard accounts are offered. Minimum deposit starts from 10 dollars, and maximum leverage is 1:500, which is flexible. However, the broker is regulated offshore and lacks significant educational resources, which are serious drawbacks for traders. While no major red fags indicate a scam, traders should be careful and consider risks befoe opening an account.

Overall, the broker seems reliable and offers competitive conditions for both beginner traders and pros.