WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
您当前语言与浏览器默认语言不一致,是否切换?
切换
Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10
The WikiFX Score of this broker is reduced because of too many complaints!

XTrend Speed

South Africa|2-5 years|
Financial Service Corporate|Suspicious Overrun|High potential risk|

https://www.xtrendspeed.com/en-US

Website

Rating Index

Influence

Influence

A

Influence index NO.1

France 7.81

Surpassed 16.00% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

support@xtrendspeed.com
https://www.xtrendspeed.com/en-US
96 RIVONIA ROAD 4TH FLOOR SANDTON
https://www.facebook.com/Xtrend-Speed-50-100713755913960
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

ID BAPPEBTI
2022-09-20

Contact number

Other ways of contact

Broker Information

More

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 4
Previous Detection : 2024-11-01
  • The number of the complaints received by WikiFX have reached 8 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • This broker exceeds the business scope regulated by South Africa FSCA(license number: 23497)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!
  • The CyprusCYSEC regulation (license number: 303/16) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

XTrend Speed · WikiFX Survey
Danger A Visit to XTrend Speed in South Africa -- Finding No Office
South Africa

Users who viewed XTrend Speed also viewed..

XM

9.05
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)
Official website

IC Markets Global

9.10
Score
15-20 yearsRegulated in AustraliaMarket Making(MM)
Official website

CPT Markets

8.60
Score
10-15 yearsRegulated in United KingdomMarket Making(MM)
Official website

MultiBank Group

8.95
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)
Official website
Sources
Language
Mkt. Analysis
Creatives

XTrend Speed · Company Summary

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

XTrend Speed Review Summary in 10 Points
Founded 2020
Registered Country/Region South Africa
Regulation FSCA (Exceeded), CYSEC (Suspicious Clone)
Market Instruments Forex, commodities, indices, shares
Demo Account Available
Leverage 1:30 for retail/1:300 for Professional
EUR/USD Spread From 0.4 pips
Trading Platforms STrader
Minimum deposit $5
Customer Support 22/7 live chat, email

What is XTrend Speed?

XTrend Speed is a forex and CFD broker that offers trading in over 280 markets, including forex, commodities, indices, and shares. The company was founded in 2020 and is headquartered in South Africa. XTrend Speed offers several trading tools, including copy trading, trading signals, and educational resources. The broker supports the STrader platform for both mobile and PC trading.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

XTrend Speed's website

Pros & Cons

XTrend Speed is a regulated broker offering a wide range of markets, trading platforms, and copy trading features. The broker provides traders with access to trading signals and educational resources to help them make informed trading decisions.

However, the broker's website has a suspicious clone CYSEC license. Additionally, regional restrictions and the absence of phone support may be disadvantages for some traders.

Pros Cons
• Wide range of markets • Exceeded FSCA license & Suspicious clone CYSEC license
• Supports copy trading • Regional restrictions (see details at the bottom FAQs)
• Offers trading signals • Limited educational resources
• Customer support available through multiple channels • Limited range of trading platforms
• High-level encryption for data storage
• Low spreads

XTrend Speed Alternative Brokers

    There are many alternative brokers to XTrend Speed depending on the specific needs and preferences of the trader. Some popular options include:

    • AvaTrade: A well-regulated broker with a wide range of trading instruments, multiple trading platforms, and excellent customer support.

    • TMGM: An ASIC-regulated broker with competitive spreads and commissions, a variety of trading instruments, and advanced trading tools.

    • EightCap: A regulated broker with a good selection of trading instruments, multiple trading platforms, and competitive pricing.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is XTrend Speed Safe or Scam?

XTrend Speed claims that it is regulated by FSCA (Financial Sector Conduct Authority) and CYSEC (Cyprus Securities and Exchange Commission). However, it has been verified that the FSCA license is exceeded and the CYSEC license is a suspicious clone. Lack of legitimate regulatory license raises concerns about the broker's credibility. Although the high-level encryption of data stored on its website and apps and clients‘ assets are safeguarded by South Africa’s largest insurance company - NNAC are reassuring features. Overall, while there are some potential red flags, it is difficult to definitively classify XTrend Speed as either safe or a scam without further information and investigation.

protection measures

Market Instruments

XTrend Speed offers a diverse range of 280+ trading instruments across four asset classes, including forex, commodities, indices, and shares. With such a broad range of instruments, traders can easily access different markets and diversify their portfolios.

forex
commodities
indices
shares

Accounts

XTrend Speed asks traders to deposit at least $5. Although this is a reasonable amount, given the fact that XTrend Speed is an unregulated broker, traders should stay away from it.

Leverage

Trading leverage offered by this broker varies depending on client types, retail or professional traders. The maximum trading leverage for retail traders is capped at 1:30, while professional traders can apply higher leverage up to 1:300 based on their knowledge and experience.

It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

Floating spreads vary throughout the day, depending on market volatility and available liquidity. The spread on the EUR/USD pair is from 0.4 pips, GBP/USD pair from 1.2 pips, and USD/JPY pair from 0.4 pips. However, no information related commission is openly revealed on their website.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker EUR/USD Spread Commission
XTrend Speed 0.4 pips N/A
AvaTrade 0.9 pips None
TMGM 0.0 pips $7/lot
EightCap 0.0 pips $3.5/lot

Note: The above information is subject to change and may vary depending on the account type, trading platform, and market conditions.

Copy Trading

XTrend Speed offers a copy trading service, allowing novice traders to copy the trades of experienced traders. The broker offers a wide range of strategies that traders can copy, and users can easily browse and filter through available strategies to find one that meets their trading preferences. The platform provides detailed statistics on the performance of each strategy, including historical data on profitability, drawdowns, and risk, enabling traders to make informed decisions about which strategies to copy.

Copy Trading

Additionally, the copy trading feature is integrated with social trading, allowing users to interact with other traders and discuss market trends and trading strategies. XTrend Speed's copy trading feature can be a valuable tool for traders who want to benefit from the expertise of successful traders.

Trading Platforms

XTrend Speed provides its clients with the STrader trading platform, which is available for both mobile and PC. The platform is user-friendly and offers advanced charting and analysis tools, along with customizable layouts and a range of order types. The mobile version of the platform is available for both iOS and Android devices, allowing traders to manage their positions on the go.

STrader

See the trading platform comparison table below:

Broker Trading Platforms
XTrend Speed STrader for Mobile and PC
AvaTrade AvaTradeGo, MetaTrader 4, AvaOptions
TMGM MT4, MT5, WebTrader, MobileTrader, TMGM Go
EightCap MetaTrader 4, MetaTrader 5, WebTrader

Trading Signals

XTrend Speed provides its users with access to trading signals that are generated by professional traders and analysts. These signals can be used by traders to make informed trading decisions based on market analysis and predictions. The signals are designed to be easy to understand and can be accessed through the trading platform or via email notifications.

Additionally, traders can use these signals to automate their trading strategies using the copy trading feature, which allows them to automatically copy the trades of signal providers. Overall, XTrend Speed's trading signals are a useful tool for traders looking to stay on top of the market and make informed trading decisions.

Trading Signals

Deposits & Withdrawals

Deposits can be done via bank wire transfers, credit/debit cards such as Visa and MasterCard, Skrill, Neteller, UPI, Paypal, etc. To be able to withdraw your funds on your XTrend Speed trading account, access your XTrend Speed Portal and initiate your withdrawal from the designated tab and proceed to complete the online form. The processing of the withdrawal request takes up to 1 business day.

XTrend Speed minimum deposit vs other brokers

XTrend Speed Most other
Minimum Deposit $5 $100

Customer Service

The XTrend Speed customer support team can be reached 22/7 through live chat, email, WhatsApp, Telegram, or send Feedback online. You can also follow this broker on social networks such as Twitter, Facebook, Instagram and YouTube. Help Center and FAQ section are also available. Address: 17 Midas Avenue, Olympus Dr, Pretoria, 0081, South Africa.

location
Customer Service
social networks
Help Center
FAQ
Pros Cons
• Multiple communication channels available • No 24/7 customer support
• 22/7 customer service availability • No phone support
• Help Center and FAQ section available
• Social media presence for updates and promotions

Note: These pros and cons are subjective and may vary depending on the individual's experience with XTrend Speed's customer service.

Education

XTrend Speed offers a limited range of educational resources, including a novice tutorial and a set of articles covering various aspects of trading. The novice tutorial provides a basic introduction on how to use credit, how to complete “About You”, how to deposit, etc. The articles cover basic introduction of Forex, Index, Copper, Nickel, NFP, EIA, FOMC, etc. While the educational resources are somewhat limited, they can still be useful for novice traders looking to learn more about the basics of trading.

novice tutorial

Conclusion

XTrend Speed is a well-established broker that offers a wide range of tradable instruments. The broker offers competitive spreads and commissions, along with several trading tools and educational resources. However, there are concerns about the legitimacy of the broker's regulatory licenses, which may raise questions about the safety of trading with this broker. Additionally, the customer support is not available 24/7, which may be a drawback for some traders. Overall, while XTrend Speed has some strengths, traders should carefully consider the potential risks before deciding to trade with this broker.

Frequently Asked Questions (FAQs)

Q 1: Is XTrend Speed regulated?
A 1: No. It has been verified that XTrend Speed currently has no valid regulation.
Q 2: At XTrend Speed, are there any regional restrictions for traders?
A 2:
regional restrictions
Q 3: Does XTrend Speed offer the industry-standard MT4 & MT5?
A 3: No. Instead, XTrend Speed offers STrader.
Q 4: What is the minimum deposit for XTrend Speed?
A 4: The minimum initial deposit with XTrend Speed is said to be just $5.
Q 5: Is XTrend Speed a good broker for beginners?
A 5: No. XTrend Speed is not a good choice for beginners. We dont advise any traders to trade with unregulated brokers.

News

Forget September Slump! S&P 500 Could Scale New Highs By Mid-2024, Predicts JPMorgan Strategist

NewsForget September Slump! S&P 500 Could Scale New Highs By Mid-2024, Predicts JPMorgan Strategist

2023-10-07 18:14

The stock market faced significant setbacks in September, with the S&P 500 Index, a broader seen since early June. Despite this, a market strategist remains optimistic about the medium- term outlook.

WikiFX
2023-10-07 18:14
News
Forget September Slump! S&P 500 Could Scale New Highs By Mid-2024, Predicts JPMorgan Strategist
Stock market today: Dow snaps 4-week losing streak amid mixed quarterly earnings

NewsStock market today: Dow snaps 4-week losing streak amid mixed quarterly earnings

2023-06-21 11:07

The Dow closed lower Friday, snapping a four- week win streak on mixed quarterly earnings ahead of results from big tech next week. The Dow Jones Industrial Average was 0.1%, or 22 points higher, the Nasdaq rose 0.1%, and the S&P 500 added 0.1%.

WikiFX
2023-06-21 11:07
News
Stock market today: Dow snaps 4-week losing streak amid mixed quarterly earnings
Earnings season holds the key as FTSE 100 continues bullish run back towards 8,000

NewsEarnings season holds the key as FTSE 100 continues bullish run back towards 8,000

2023-06-13 18:23

The FTSE 100 is closing in again on the 8,000-point milestone it breached for the first time ever earlier this year, with five weekly gains in a row close to putting the index in official bull market territory.

WikiFX
2023-06-13 18:23
News
Earnings season holds the key as FTSE 100 continues bullish run back towards 8,000
S&P 500 Trades Lower With Possible Recession On The Horizon, China's Economy Grows

NewsS&P 500 Trades Lower With Possible Recession On The Horizon, China's Economy Grows

2023-05-06 18:42

The S&P 500 dipped and the Nasdaq ended sharply lower on Wednesday after a growing wave of weak economic data deepened worries that the Federal Reserve's rapid interest rate hikes might tip the U.S. economy into a recession.

WikiFX
2023-05-06 18:42
News
S&P 500 Trades Lower With Possible Recession On The Horizon, China's Economy Grows

Review 17

17 Comments
Write a comment
All(17) Latest Positive(3) Neutral(5) Exposure(9)
Scroll down to view more
Write a comment
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com