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XBTFX is a legally registered Forex broker founded in 2023 in Saint Vincent and the Grenadines. XBTFX accepts clients from all over the world with the exception of the USA, Canada, Belgium, North Korea, Sudan and other countries where Forex services are prohibited by local laws.
XBTFX - regulated broker?
XBTFX is a relatively new CFD and Forex broker that has been registered in the popular offshore jurisdiction of Saint Vincent and the Grenadines since 2023. As an offshore broker, XBTFX can offer traders a high leverage of up to 1:500, a simple registration process and replenishment of the account with cryptocurrencies. However, it should be remembered that the broker is not regulated by any government authorities, so its clients will not be protected if there are disputes or problems with the solvency of the broker.
As for trading instruments, XBTFX offers almost everything a trader could wish for, with the exception of bonds and interest rates. The choice of currency pairs is simply impressive – more than 70 pairs. The same applies to stocks, where traders can use more than 120 individual shares of American, European, Russian and several Asian companies listed in Hong Kong and Tokyo.
However, what this broker really shows itself in is when it comes to cryptocurrencies, with its large selection of digital assets available for trading. At the time of writing this review, XBTFX offers trading in 27 cryptocurrencies against the US dollar, including cryptocurrencies such as Bitcoin, Litecoin, Binance Coin, Ethereum and others.
XBTFX offers the popular MT4 and MT5 trading platforms,available in their classic downloadable versions for Windows computers, web versions for use on any computer, as well as as a mobile application.
What types of accounts does XBTFX offer?
XBTFX broker offers two types of trading accounts:
- Standard. Classic STP account for MT5 without commissions with spreads from 1 point.
- ECN. ECN is an account for MT4 and MT5 platforms with narrow spreads of 0.1 pips and a commission of $3.5 per lot.
The broker also offers a demo account and a special Islamic account for Muslim traders.
What is the minimum deposit in XBTFX?
The minimum deposit in XBTFX is $1. The uniqueness of cryptocurrency brokers such as XBTFX is that trading accounts can only be replenished with cryptocurrencies, without bank transfers or credit cards. Currently, the following cryptocurrencies are accepted: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Binance Coin, Cardano, Stellar Lumen, Dogecoin and Tron, as well as stablecoins pegged to the US dollar: Tether, USD Coin, PAX and DAI.
In addition to the blockchain fees paid per transaction, XBTFX does not charge any fees for processing deposits or withdrawals.
XBTFX is a relatively new broker with no proven reputation. In addition, it is also worth noting that this broker differs from most CFD and Forex brokers in that it accepts only cryptocurrency from traders, while even trading accounts themselves are denominated only in cryptocurrencies (including more stable cryptocurrencies linked to the dollar). This makes XBTFX a future-oriented broker and a broker that Of course, it is worth paying attention to traders interested in both cryptocurrency and more traditional financial markets.
Before choosing a broker, we recommend that you read the reviews of XBTFX, as well as see our rating of Forex brokers.
|General information of XBTFX|
|Year of foundation||2023|
|Headquarters||Saint Vincent and the Grenadines|
|Trading Platforms||MT4, MT5|
|EURUSD Spread||1 pips|
|Base currencies||USD, BTC, ETH, XRP, DAI, USDT|
|Assets||Currency pairs, indices, metals, stocks, cryptocurrencies|
|Deposit replenishment||BTC, ETH, LTC, XRP, USDT, USDC, PAX, DAI|
|Payment for inaction||—|
- The year of Foundation 2019
- Head office address First Floor, First St. Vincent Bank Ltd Building, Kingstown, Saint Vincent And Grenadines
- Maximum leverage 1:500
- Min. Deposit $1
- Trading platform
- Payment system to enter BitCoin
- Payment system for withdrawal BitCoin
- Number of trading instruments 79
- The number of CFD instruments 150
- The number of metals 4