Libertex (Forex Club) vs Xtrade Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Libertex (Forex Club) vs Xtrade.
Can I trust Libertex (Forex Club)?
Libertex (Forex Club) has a trust score of 72, giving it a "Average Risk" trust label. Here's what each trust score label means:
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust Xtrade?
Xtrade has a trust score of 80, giving it a "Trusted" trust label.
Is Libertex (Forex Club) a good broker?
Forex Club has long been a MetaTrader broker, though its more recent Libertex brand in Europe also offers a proprietary platform. That said, Libertex has fewer regulatory licenses than its peers, resulting in a below-average Trust Score.
Is Xtrade a good broker?
Xtrade offers a proprietary platform and holds an increasing number of regulatory licenses, but with less than 200 available symbols it just can't compete with the best forex brokers.
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. Libertex (Forex Club) is none, while Xtrade is Australia (ASIC Authorised).. Neither have Canada (SRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized)
What tier-2 jurisdictions is each broker regulated in? What about tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, Libertex (Forex Club) is Cyprus (CySEC Authorised), while Xtrade is Cyprus (CySEC Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses Libertex (Forex Club) is none, while Xtrade is Belize (FSC Authorised).. Neither have Bahamas (SCB Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).
Which broker offers more trading platforms?
For trading platforms Libertex (Forex Club) supports a Proprietary Platform and Desktop Platform (Windows), whereas Xtrade supports a Proprietary Platform.. Neither have cTrader, DupliTrade and ZuluTrade
Does Libertex (Forex Club) offer MetaTrader? Does Xtrade offer MetaTrader?
For MetaTrader Libertex (Forex Club) provides MetaTrader 4 (MT4), while Xtrade provides neither of these. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.. Neither have MetaTrader 5 (MT5)
How do Libertex (Forex Club) and Xtrade differ in terms of minimum deposit? What about average spreads and funding options?
Libertex (Forex Club) requires a minimum deposit of $10, while Xtrade requires a minimum deposit of $250. From our testing we found Libertex (Forex Club) offers spreads of N/A, while Xtrade offers spreads of N/A. Libertex (Forex Club) supports Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where Xtrade supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, Libertex (Forex Club) or Xtrade?
Libertex (Forex Club) offers a more diverse selection of investment options than Xtrade allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, Libertex (Forex Club) has 300, compared to 142 from Xtrade.
Can I trade cryptocurrency with Libertex (Forex Club) or Xtrade?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither Libertex (Forex Club) nor Xtrade allow you to trade physical cryptocurrencies.
Who offers more research tools, Libertex (Forex Club) or Xtrade?
In terms of research and research tools Libertex (Forex Club) gives traders the following tools: Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison Xtrade has the tools listed here: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources).. Neither have Autochartist and Trading Central (Recognia)
Overall winner: Libertex (Forex Club)
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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.