Xtrade brokers is one of the top online trading broker in the forex trading industry providing great financial products. Xtrade is an award-winning and technology-driven broker, offering forex, CFDs, stocks, cryptocurrencies, options and a whole lot more. Want to know more about them? Then read this blog post that outlines a few reasons, why you may want to choose Xtrade as your broker.
What is the minimum deposit of Xtrade brokers
The minimum deposit of Xtrade brokers is $200. This is a mandatory amount to make a trade at this broker. The minimum amount of deposit also depends on the type of account you open. For instance, Xtrade’s regulated account requires a minimum deposit of $5000. If you wish to start with a smaller deposit, you can open a demo account, which requires just $100 to be deposited. Moreover, if you are neither a newbie in online trading nor need to make a big deposit, you can make a trade with a minimum of $250.
How to Open an Xtrade Account
If you want to open an Xtrade account, you need to fill in a short online application on the Xtrade website. It will ask your name, address, and a few other details. Your application will be reviewed within 5 business days, and if it is positively reviewed, you will be eligible to use Xtrade website. You will only be allowed to open one account and you need to provide a valid telephone number, so that the customer service team can easily contact you.
The list of scam brokers in 2022
I would like to begin with the disclaimer that my answer may not be exhaustive due to lack of data about the exact number and names of scam brokers in 2022. With the help of several intuitive assumptions, I have tried to make a best guess at the List of scam brokers 2022.First, I assume that the trading businesses that were considered scam in year 2017 will continue to be considered scam in 2022. From looking at the below list of scam brokers that are present in 2017, I can guess that the list is likely to grow.
What are the signs of a scam broker
A scam broker does not have a proper operating license, and does not have a proper working office. They will trade on promise of quick return, and will always raise new questions to avoid answering previous questions. They will also send you false signals that a profitable trade has been opened in your account. It is also possible for them to run away with your money when you deposit to their account.
How to spot a scam broker
There are many real estate brokers who work in your best interest, trying to get you the best deal on a home. But there are also those who are known for cheating customers out of their money or scamming them altogether. Here are a few warning signs that you should look for when searching for a broker. Of course, a good broker will respond to your concerns as well. If he/she is not interested in your concerns, then be wary. Scam brokers are also known for charging you to do things that are supposed to be free, like processing your credit report. Be prepared to pay for these services if you find a good broker.