XBTFX is a legally registered forex broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.
XBTFX accepts clients from all over the world, excluding USA, Quebec (Canada), Belgium, North Korea, Sudan and any jurisdiction where the FX service is prohibited by local laws or regulations.
Forex broker offers the following underlying assets for trading.
|75+ Currency Pairs||Based on major and minor world currencies.|
|25+ Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Binance Coin, Basic Attention Token, Dash, EOS, Iota, Neo, OmiseGo, Tron, Stellar Lumens, Monero, Zcash, Cardano, Dogecoin, Solana, Polkadot, Chainlink, Polygon, Uniswap, Algorand, Filecoin, Maker.|
|12 Indice CFDs||Based on baskets of different blue-chip stocks.|
|13 Metal CFDs||Based on Gold, Silver, Platinum, Palladium and Copper.|
|3 Energy Spot CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|120+ Stock CFDs||Based on shares of US, UK, EU, Russian and Asian companies.|
XBTFX is a relatively new cryptocurrency-based CFD & forex broker that has been registered in the popular offshore jurisdiction Saint Vincent and the Grenadines since 2019. As an offshore broker, XBTFX is able to offer traders very high leverage, a simple and easy account verification process, and account funding with cryptocurrencies.
As far as trading instruments goes, XBTFX offers pretty much everything a trader could want, with the only exceptions being bonds and interest rates. Besides that, however, its selection of forex pairs is simply impressive, with over 70 pairs to choose from. The same also goes for stocks, where traders can enjoy more than 120 single stocks from American, European, Russian, and several Asian companies listed in Hong Kong and Tokyo.
Where this broker really shines, however, is when it comes to cryptocurrencies, with its great selection of digital assets available for trading. At the time of this review, XBTFX offers trading in 17 cryptocurrencies against the US dollar, including cryptos like Bitcoin, Litecoin, Binance Coin, Ethereum, and others.
In terms of trading platforms, XBTFX offers both of the well-known MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, available in their classic downloadable versions for Windows computers, as a web-based version for use on any computer, and as a mobile app. These platforms by now have something of a legendary status in the forex trading community, with their familiar interface, as well as large built-in marketplaces for trading strategies (“Expert Advisors”) and custom technical indicators.
Once signed up, new clients with XBTFX will need to choose whether to trade with the Standard account, which is an STP-style account with commission-free trading (except for stocks) but wider spreads, or the ECN account, which has smaller spreads but a commission of USD 3.5 per lot for most instruments. As usual, traders with larger trading accounts are typically better off with the ECN account, while those with smaller accounts should opt for the Standard STP-type of account.
Unique to crypto-based brokers like XBTFX is that the trading accounts can only be funded with cryptocurrencies, with no bank transfers or credit cards accepted. The accepted cryptocurrencies are currently Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Binance Coin, Cardano, Stellar Lumen, Dogecoin, and Tron, as well as the US dollar-pegged stablecoins Tether, USD Coin, PAX and Multi-collateral DAI.
Other than the blockchain fees paid to make the transaction, XBTFX does not charge any processing fees for deposits or withdrawals, which we of course always appreciate.
In case of difficulties with the sign-up process or the trading itself, XBTFX’s support team can be reached via email or a live chat function on its website. Additionally, most questions that come up are answered in a pretty straightforward way in the FAQ section on the website. We’re also pleased to see that this broker offers 24 hour service 7 days per week, which is something we rarely see from smaller and mid-sized CFD brokers.
All in all, we believe it is important to keep in mind that XBTFX is still a very new broker, without much of a proven track record. Further, it is also worth noting that this broker differs from most CFD & forex brokers in that it only accepts cryptocurrencies from traders, while even the trading accounts themselves are only denominated in cryptocurrencies (including more stable dollar-pegged cryptos). We believe this makes XBTFX a broker focused on the future, and one that is surely worth keeping an eye on for traders who are interested in both crypto and more traditional financial markets.
Spreads are fare! Easy to trade EAs for MT5 cryptos. Nothing to complain, just deposits for Tether in ERC20 network have high rates. TRC20 should be better.
No complaints with this broker so far. Spreads are not big, they still maintain the industry standard. It also has a wide range of CFDs to pick from.
I have started here with $100 in btc in order to test if my EA can work properly on MT5 with this broker. After three months, I haven't experienced any sort of delays or any kind of problems with the platform.
Great experience here with the xbtfx staff as I reported some minor issues/bugs I found using the site and support was quick to fix them and reward me without my request for reward. MT5 here is stable, fast and good conditions. The web interface with crypto wallets and options is the best I have used.
What I personally like the most is large number of wallets available for depositing and withdrawing funds. It was very suitable for me to deposit and sell dogecoin I had and then make trades and withdrawals with usdt. Indeed, I had to pay exchange of doge to usdt, but it was one-off effect in order to credit my account and commission was some 3%, not at all high espicially now because of the dogecoin rally.
I am a stock trader here for the last three months. There is a very good list of available stocks from the EU and US if you want to trade them with bitcoin or ethereum. I am trading mostly the largest companies. Commissions are more than reasonable, compared with other brokers. I am paying $0.1 for US and EU stocks are 0.45%
Execution is fast, spreads in standard account are low, withdrawal is within 2 hours. After three months I didn't manage to find one objection.
They offer a lot of assets under a high leverage. The platform runs smoothly. Support always responds. The site is very convenient. Recommend.
Good broker. Last Friday after market ended I requested my 3rd withdrawal and it arrived in bitcoin by 2 hours with no problem. I am very pleased with them.
I opened an account this spring, and have already made a couple of profit withdrawals with btc, since this is a crypto broker, there are no usd or eur accounts. The advantages are this is the stp model of work with a broker, you don't need to go through a long verification.
Trading with them since April without incidents. They are unique, the MT5 here can be in different balances for example, BTC, ETH, XRP ... No USD ... only Tether and DAI MT5 accounts for usd trading balances.