XtraderFX is using Tradologic platform that is quite popular among traders. It is pretty straightforward and even traders who never experienced trading with this broker don’t have to feel nervous.
XtraderFX is a broker whose specialty are cryptocurrencies. All assets available are currency pairs that involve cryptocurrencies. Here is the full list of XtraderFX assets:
As already mentioned, traders never have to own the actual cryptocurrency or USD, as they are trading on contracts they can always sell or buy, depending on the market situation and their wishes. Traders can also customize their trading, as there are several tools available. The great news is that XtraderFX is basically a forex broker specialized in cryptocurrencies, so traders who have some forex experience will already be familiar with many aspects of this broker.
XtraderFX tools available on the platform are:
- Take profit – closes a position automatically after a certain level of profit has been reached
- Stop loss – the position is automatically closed if it goes in unwanted direction
- Order info – delivers more info about the contract
Traders can also choose the chart form they prefer: bars, candles (two types), line, area, heikin aishi. There is also a great list of over 30 indicators that can be applied during the analysis process to help traders determine the right strategy. We never saw that many indicators offered as with XTraderFX.
>>> Read our Cryptocurrency trading guide to find out everything about buying and selling Bitcoin & Co<<
If this sounds too complicated, you can always use Simplex platform. Just by clicking the button in the upper right corner, you can easily switch between Simplex and Pro layout. XtraderFX Simplex platform will simply deliver popular trades in a special frame, and you can select which ones you prefer to trade.
XtraderFX review has to mention how this broker doesn’t promise the ability to trade on the go via mobile apps. Still, mobile trading can be executed directly from the browser of your phone, as the entire platform is web-based and requires no downloads.
How to trade Cryptocurrencies with XtraderFX?
In order to trade Cryptocurrencies with XtraderFX, traders first have to select an underlying asset/currency pair they want to trade. After clicking the asset, a small pop up will show up. You can determine the number of orders you want to buy or sell, and also use take profit and stop loss to customize the trading experience. XtraderFX also supports Pending Orders for better risk management. All opened positions and pending orders can be found in a neatly organized list that is placed directly below the chart and organized with tabs. We definitely recommend following all the trades placed as only traders with great overview can handle and manage risk and money properly.