Xtrend Speed Review – Cypriot Firm With Unproven Reputation
Xtrend Speed Review – Cypriot Firm With Unproven Reputation

Instead of tiring text blocks that only serve for self-glorifying in order to attract customers, this brokerage brand has decided to be straightforward and sincere.

The firm itself offers relatively standard trading conditions and sports a high average score on Trustpilot. However, as we dig deeper, the dirty laundry surfaces and we find customers complaining about withdrawal issues. Read our Xtrend Speed review before you decide to invest here.

Regulated by: CySEC, FSCA
Is This Company Safe? Firm owns a Tier 1 regulation, so they can be considered safe.
Known Websites: xtrendspeed.com

thextrend.com

Have Warnings from: N/A
Registered in: South Africa / Cyprus
Operating since: 2007
Trading Platforms: Proprietary
Maximum Leverage: 1:300
Minimum Deposit: $50
Deposit Bonus: Available
Trading Assets: Forex, Indices, Shares, Energies, Metals, Crypto
Free Demo Account: Not available
How to  Withdraw from This Company? When in need of support with withdrawals, make sure you book a free consultation with our recovery experts.

Legal Background

The Xtrend Speed broker is owned by a Cypriot company – Rynat Trading Ltd, an investment firm regulated by CySEC, with several approved domains, among which is also thextrend.com. 

This regulatory permit is rock solid when it comes to fund safety, compensation options and risk-reducing measures. Since this regulatory body belongs to Tier 1 authorities, EEA customers can enjoy a safe trading environment and proper protection of funds.

The firm Rynat Capital (Pty) Ltd, registered in South Africa, is also regulated by the jurisdictional authority – FSCA. However, this regulator isn’t a Tier 1 entity and doesn’t implement the same regulatory criteria. For example, FSCA doesn’t enforce a leverage cap. Therefore international clientele should be careful when investing here.

Still, compared to unregulated online trading firms like Sardis Markets, the Xtrend Speed Forex dealer is far safer and a better option to consider.

EEA Coverage

As a Cypriot firm and CySEC regulated entity, it is only to be expected that the firms targeted audience is from these countries: 

  • France
  • Germany
  • Italy
  • Spain

The website has existed since 2007, although the Whois database says it was established in 2018. During this time the brand has established their name in the Forex trading world and has developed efficient marketing strategies to reach end users. Xtrend Speed bonus is another alluring condition often used to persuade customers to invest.

For promoting their services, the firm mainly uses social networks, such as Instagram, Facebook and LinkedIn.

Genuine Feedback or Forgery?

While looking for Xtrend Speed reviews online, we could only find them present on Trustpilot. Out of more than 4.800 reviews, the average rating is 4.6 out of 5 stars.

While it may look remarkable, this reputation is often boosted with the involvement of review seller networks. The biggest implication of the method is the fact that no reviews at all exist on other major sites like Sitejabber, Reviews.io and 99Consumer.

Trading Specifications

As an EEA brokerage portal, the company allows an Xtrend Speed trading leverage of 1:30 for all customers in the area. However, those that fall under the FSCA regulatory rules can trade with leverage of up to 1:300. 

Spreads on EUR/USD can be as low as 0.00001 pips, as the trading conditions on the website suggest. 

Now, the customers complaining about somewhat higher withdrawal fees are probably right, considering that these commissions range from 3.5% to over $50, depending on the payment method and currency.

Bonus Programs

Besides the affiliate campaign that can help you earn commissions based on the number of referrals, non-EEA clients have access to deposit bonuses. Xtrend Speed $100 free cash is always available, even before the complete sign up. In addition, completing simple tasks or registration steps also bring at least $1 credit each.

Trading Features are Average

From such a well-regulated firm, you’d probably expect a wider range of available account types and trading platforms. However, there’s not much there to talk about as the offer doesn’t seem overly impressive. Read on for a detailed insight.

Proprietary Platform Present

The platform available for downloading is the company’s own trading terminal, called the STrader. On the website it is described as reliable, fast and a premium software solution. 

The Xtrend Speed MT4 option for trading isn’t available, however, which could be considered as sort of a downside.

Trading On The Go

For the customers that wish to have access to investing options even when they’re not on their computers, an Xtrend Speed app exists. With over 500k downloads from Google Play store, the software is considered to be reliable and preferred by many. It is currently the sponsor of the Argentina national football team.

Markets Accessibility

It’s questionable if the selection of instruments could be called rich. There’s only a several standard groups of tradable assets supported:

  • Forex – EUR/USD, EUR/JPY, USD/CAD
  • Precious Metals – Silver, Gold, Zinc
  • Cryptocurrencies – BAT, BTC, ZRX
  • Energy – UKOil, USOil, Natural Gas
  • Indices – GER30, EU50, IN50
  • Shares – IBM, BMW, Nvidia

Registration Steps

Filling up the sign up form is divided into four parts. Each requires some sort of information about the potential customer – personal info, trading experience, identity confirmation. 

Mobile number verification has to be done on the spot, else you won’t be able to proceed. That’s the one and only account type available – Live trading account, with the minimum deposit requirement of $50.

Education: Just Glossary

For a long-time regulated brokerage platform which has been in the business for quite some time, the website features poor educational material.

The only source of knowledge that this firm refers to as education is the glossary. Although it features a wide range of Forex terms explained, this is not the expected learning support for Forex novices.

Withdrawal Complaints

In the company profile, we see claims about withdrawals being swift and hustle-free. The requests are allegedly processed in 1 business day, while it takes up to 5 days for the funds to arrive. There’s a variety of transaction methods listed on the site.

The majority of customers report issues with their withdrawals being declined for no reason, stalled and complicated. Therefore, we suspect the presence of Xtrend Speed scam tendencies. Same complaints usually follow illicit entities like Lidcoin, so beware.

Lacks Communication Channels

High-profile online trading companies are known to support various support methods. However, this broker has only enabled an email and a phone line for the entirety of their customer base. There’s no online chat, callback and other popular channels.

We’re Always Here to Help

Regulated or not, even the most prominent and popular trading portals can fail the expectations of their clients or break rules. If you find yourself being a victim of fraudulent practices, you can always count on our legal professionals for help. Book your free consultation today and acquire chargeback support from the best-trained recovery experts.

FAQ Section

What is Xtrend Speed?

This is a regulated investment firm from Cyprus and South Africa.

Is Xtrend Speed Legit?

Yes. The firm is licensed by the CySEC and FSCA. Therefore, their activities are fully legit.

How to Get Money Back From a Broker Company?

When having troubles withdrawing profits, you should get help from leading experts in this field. Our chargeback professionals can advise you and support you through the procedure.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

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