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XTrade Review
XTrade has lost or given up every major license it once held, including in Cyprus and Australia. Its only current claimed license is from Belize, a weak offshore regulator.
Min Deposit
$250
Spreads From
2 pips on major pairs, wider on others
Max Leverage
1:400
Platforms
XTrade WebTrader
Pros
- Covers CFDs on forex, indices, commodities, and shares in one account
- Runs its own XTrade WebTrader platform with real time charts
- States its $250 minimum deposit clearly up front
- Has kept the XTrade brand running for well over a decade
Cons
- Its Cyprus arm gave up its CySEC license in February 2025 and was renamed
- Australia's ASIC cancelled its AFS license in 2024 over unconscionable conduct
- Two former XTrade Australia directors were banned for three and five years
- Only remaining claimed license is from Belize, a very light touch regulator
- Japan's FSA and Malaysia's regulator both warn it is not licensed there
- 2026 reviews still describe clients struggling to withdraw their money
XTrade is an online CFD broker that has operated under several company names. Its Cyprus arm, XTrade Europe Ltd, gave up its CySEC license in February 2025 and renamed itself Merba Limited. The brand now runs through Xtrade International Ltd, registered in Belize.
Regulators have taken repeated action against XTrade. Australia's ASIC cancelled the AFS license of XTrade.AU Pty Ltd in 2024 over unconscionable conduct, then banned two former directors, Shay Zakhaim for three years and Anthony Anderson for five, for failing to stop aggressive sales tactics. Japan's FSA and Malaysia's Securities Commission have both separately warned XTrade is not licensed to operate there.
Today XTrade's only claimed license is from Belize's Financial Services Commission, a regulator with far weaker oversight than CySEC or ASIC. Reviewers in 2026 still report clients struggling to withdraw money, some since 2023. XTrade continues to accept new clients despite this record.
Min. Deposit
USD 250
Max Leverage
1:400
Spreads From
2 pips on major pairs, wider on others
Platforms
Swift Funding Forced Off MetaTrader as MetaQuotes Purges Prop Firms Serving United States Traders
September 30, 2026
XTrade Lost Its Cyprus License, Then Its Australian License, And Now Only Offers Offshore Accounts
September 28, 2026
XTrade Loses Its Licence Over Vulnerable Clients Pushed Into CFDs
July 28, 2026
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
