Established less than a year ago on August 2013, XCFD is a CFD and forex broker that is based in New Zealand. Regulated by the Financial Services Complaints (FSC) under the registration number, this broker is well known among the online trading community for its ultra tight spreads that it charge traders. In addition, XCFD also made it easy for anyone who wants to start trading to open a trading account with them. With just a $100 initial deposit, traders not only get to open a live trading account but also get to receive a 50% welcome bonus.
With a brand new proprietary platform, XCFD intend to reshape how online trading is done. Their platform allows traders to trade all their products under their portfolio on just one account. With their technically advance collocation infrastructure, platform stability, speed and security is all but guaranteed. Although a relatively new product in the financial world, XCFD’s traders can also use their platform to trade in the crypto currency bitcoins. In spite of all the new advanced features offered by XCFD’s platform, we were a little disappointed that they did not provide a demo account for us to test out their platform.
Trading Account Type
Since one of their platform highlights is the ability to trade multiple products with one platform, XCFD makes no attempts to provide different types of trading accounts. Traders can just open a live trading account with a simple deposit of $100 and also claim a welcome bonus of 50%. Currently, on promotion is a $30 no deposit offer for those who open a trading now.
Commission & Spreads
As mentioned earlier, XCFD have one of the lowest spreads around. Typically, traders only pay 0.1 to 0.4 pips on major currency pairs.
With EXANTE powering their trading platform, XCFD’s 24/7 customer service is beyond reproach. Their support can be said to be fanatical. Traders can choose between email or telephone support and with an average response time of 3 minutes, help is a mere heartbeat away.
Being based in New Zealand mean XCFD have to abide by the stringent requirements normally expected from a business operating in a first world economy. In particular, XCFD is very strict about meeting the guidelines imposed by the Joint Money Laundering Steering Group of New Zealand. As such, traders must provide proof of identity and transfer funds from internationally accepted methods such as bank wire or credit cards. As for the protection of data and personal information, XCFD is secured by systems such as QUALYS SECURE and digicert.
- Can Trade In Forex, Stocks, Options, Indices And Bonds
- Live Price Feed
- Low Latency (10ms) And Fast Execution Of Trades
- Low Minimum Initial Deposit Of $100
- Proprietary Platform With FIX Protocol Support
- Ultra Low Spreads
- Lack Of Educational Materials
- No Demo Account
- Product Info Lacking
In their bid to attract new clients, XCFD is currently offering gifts such as iPad Mini and MacBook Air 13” for deposits made with them. So if you are in the market for a new broker, now’s the time to give XCFD a trail.