XBTFX Review

 

Overall, XBTFX can be summarised as a trustworthy and highly regulated Forex Broker with an extensive asset offering. XBTFX offers access to main and minor Forex pairs and excellent customer support.  XBTFX has a trust score of 80 out of 99.

 

🔎 Order Execution	3/5
💴 Commissions and Fees	4/5
📈 Range of Markets	3/5
📉 Variety of Markets	3/5
⏰ Withdrawal Speed	3/5
❤️ Customer Support	4/5
🖥️ Trading Platform	4/5
🖍️ Education	3/5
🗂️ Research	3/5
📌 Regulation	2/5
📱 Mobile Trading	4/5
💯 Trust Score	80%

 

 

XBTFX Review – Analysis of Brokers’ Main Features

 

1. ☑️ XBTFX Overview
2. ☑️ XBTFX Detailed Summary
3. ☑️ XBTFX – Advantages Over Competitors
4. ☑️ Who will Benefit from Trading with XBTFX?
5. ☑️ XBTFX Safety and Security
6. ☑️ XBTFX Bonus Offers and Promotions
7. ☑️ XBTFX Affiliate Program Features
8. ☑️ XBTFX Minimum Deposit
9. ☑️ XBTFX Account Types and Features
10. ☑️ How to open and Close an XBTFX Account
11. ☑️ XBTFX Base Account Currencies and Basic Order Types
12. ☑️ XBTFX MAM / PAMM Features
13. ☑️ Social Trading with XBTFX
14. ☑️ XBTFX Trading Platforms
15. ☑️ Which Markets Can You Trade with XBTFX?
16. ☑️ XBTFX Fees, Spreads, and Commissions
17. ☑️ XBTFX Deposits and Withdrawals
18. ☑️ XBTFX Education and Research
19. ☑️ XBTFX Customer Support
20. ☑️ XBTFX Cashback Rebates Features and Conditions
21. ☑️ XBTFX Web Traffic Report
22. ☑️ XBTFX Geographic Reach and Limitations
23. ☑️ XBTFX Best Countries by Traders
24. ☑️ XBTFX vs Alpari vs OANDA – A Comparison
25. ☑️ XBTFX Alternatives
26. ☑️ Our Experience with XBTFX
27. ☑️ Recommendations according to our in-depth review of XBTFX
28. ☑️ XBTFX Customer Reviews
29. ☑️ Pros and Cons of Trading with XBTFX
30. ☑️ In Conclusion
31. ☑️ Frequently Asked Questions

 

 

 

XBTFX Overview

 

As a cryptocurrency-based Forex and CFD broker, XBTFX provides a unique option for South African traders, particularly in light of the country’s unique economic and financial situation.

Established in 2019, XBTFX has positioned itself as a bridge between traditional financial markets and the expanding world of digital assets, a combination that resonates with South African investors’ evolving interests.

For South Africans, one of the most appealing aspects of XBTFX is its extensive asset offering. The platform offers access to main and minor Forex pairs and a wide range of commodities, indices, and cryptocurrencies.

This is especially enticing in South Africa, with a rising appetite for diverse investment portfolios that transcend local market constraints. Introducing cryptocurrencies such as Bitcoin and Ethereum corresponds to South Africa’s growing interest in digital currencies, driven by currency volatility and the quest for alternative investment options.

Regarding technology, XBTFX’s use of the MetaTrader 4, MetaTrader 5, and cTrader platforms is prudent to benefit the South African trading community.

These platforms are well-known for their dependability, extensive analytical tools, and user-friendly interfaces, making them appropriate for novice and experienced traders.

 

 

XBTFX Detailed Summary

 

🔎 Headquartered	Seychelles
🌎 Global Offices	Seychelles, Antigua
🏦 Local Market Regulators in South Africa	Financial Sector Conduct Authority (FSCA)
📌 Foreign Direct Investment in South Africa	10309.28 billion ZAR
📍 Foreign Exchange Reserves in South Africa	46.3 billion ZAR
📈 Local office in South Africa	None
📉 Governor of SEC in South Africa	None, the governor of the Reserve Bank in South Africa is EL (Lesetja) Kganyago
📊 Accepts South African traders	✅Yes
↪️ Year Founded	2019
⛔ Regional Restrictions	The United States, Quebec, Belgium, Belarus, Russia, Iran, North Korea, Sudan, Yemen, etc.
☪️ Islamic Account	✅Yes
🆓 Demo Account	✅Yes
📈 Non-expiring Demo	✅Yes
📉 Demo Duration	Unlimited
2️⃣ Retail Investor Accounts	2
📌 PAMM Accounts	Yes, MAM and PAMM
💧 Liquidity Providers	Not Published
🤝 Affiliate Program	✅Yes
🖥️ Order Execution	Market
💻 OCO Orders	None
🫰🏻 One-Click Trading	✅Yes
📌 Scalping	✅Yes
📍 Hedging	✅Yes
↪️ Expert Advisors	✅Yes
📰 News Trading	✅Yes
📊 Starting spread	0.01 pips EUR/USD
💴 Minimum Commission per Trade	From $3.5 per side, per lot
💱 Decimal Pricing	5th Decimal after the comma
💹 Margin Call	80%
❌ Stop-Out	50%
📉 Minimum Trade Size	0.01 lots
📈 Maximum Trade Size	Unlimited
🪙 Crypto trading offered	✅Yes
💴 Offers a ZAR Account	None
👤 Dedicated South Africa Account Manager	None
📈 Maximum Leverage	1:500
📉 Leverage Restrictions for South Africa	None
💷 Minimum Deposit (ZAR)	190 ZAR ($10)
💶 Deposit Currencies	EUR, BTC, LTC, ETH, DOGE, XRP, USDT, USDC
💵 ZAR Deposits Allowed	None
💴 Account Base Currency	BTC, ETH, XRP, DAI, USDT
👥 Active South Africa Trader Stats	200,000+
👤 Active South African-based XBTFX customers	Unknown
🔁 South Africa Daily Forex Turnover	13.1 billion USD
⏱️ Minimum Withdrawal Time	Same-day
⏲️ Maximum Estimated Withdrawal Time	1 – 3 days
⌚ Instant Deposits and Instant Withdrawals	None
↪️ Segregated Accounts with South African Banks	None
🖥️ Trading Platforms	cTrader MetaTrader 4 MetaTrader 5
💹 Tradable Assets	Forex Cryptocurrencies Commodities Metals Indices Shares
🔊 Languages supported on the Website	English
▶️ Customer Support Languages	Multilingual
➕ Copy Trading Support	✅Yes
⏰ Customer Service Hours	24/7
🥰 South African-based customer support	None
🎁 Bonuses and Promotions for South Africa Traders	Yes, but only for Affiliates and Partners
🖍️ Education for South African beginners	✅Yes
💻 Proprietary trading software	None
😎 Most Successful Trader in South Africa	Ref Wayne (500 million USD+)
⚠️ Is XBTFX a safe broker for South African Traders	✅Yes
🔟 Rating for XBTFX South Africa	7/10
💯 Trust score for XBTFX South Africa	80%

 

 

XBTFX – Advantages Over Competitors

 

XBTFX has the following advantages over competitors:

 

• ✅ A demo account is great for South African traders who are new to trading or want to test techniques without risking their money.
• ✅ XBTFX responds to the needs of South African traders who choose or require mobility in their trading activity by supporting mobile trading across all platforms.
• ✅ With Forex leverage choices up to 1:500, XBTFX allows South African traders to trade with larger leverage, which can be very enticing for those trying to optimize possible gains.
• ✅ XBTFX caters to the different interests of South African traders by offering a wide range of trading instruments, including many cryptocurrency pairs, commodities, indices, and equities.
• ✅ XBTFX caters to a wide range of trading preferences, including MetaTrader 4, MetaTrader 5, and cTrader, which is advantageous for South African traders with varying experience and platform knowledge.
• ✅ XBTFX’s attractive affiliate program, which incorporates a multi-tiered commission structure, might be especially beneficial for South Africans with a network interested in trading.
• ✅ Given the time zone disparities, the availability of 24/7 customer service is a huge benefit for South African traders who trade at various times.
• ✅ The lack of deposit and withdrawal fees is advantageous, especially given the potential additional currency conversion costs or overseas transfers.
• ✅ For South African traders interested in digital currency trading, XBTFX’s significant concentration on cryptocurrencies, including accepting deposits and withdrawals in multiple crypto alternatives, is helpful.

 

 

and much, MUCH more!

 

 

Who will Benefit from Trading with XBTFX?

 

• ✅ South African traders interested in cryptocurrencies can benefit greatly from XBTFX’s wide crypto products and integration.
• ✅ Those with prior knowledge in Forex and CFD trading can use XBTFX’s advanced features and high-leverage choices.
• ✅ South African traders wishing to diversify their portfolios across various financial assets, such as commodities, indices, and equities, will find XBTFX’s selection intriguing.
• ✅ Individuals or companies in South Africa with a strong network can make extra money through XBTFX’s affiliate program.
• ✅ Traders who are familiar with and like trading on advanced platforms such as MT4, MT5, and cTrader would appreciate XBTFX’s technological features.
• ✅ Those willing to engage in high-leverage trading and understand the dangers and benefits can benefit from XBTFX’s leverage choices.
• ✅ South African traders who trade on mobile devices will benefit from XBTFX’s excellent mobile trading service.
• ✅ South African new traders can use XBTFX’s trial accounts to gain experience and practice trading methods in a risk-free environment.

 

 

Does XBTFX offer any unique account features?

Yes, XBTFX offers seamless account connectivity across devices, offering a consistent trading experience on mobile, web, and desktop.

 

Are there any special features in XBTFX’s MAM/PAMM services?

Yes, XBTFX’s MAM/PAMM services are distinguished by features such as the ability for money managers to activate or deactivate client participation in particular trades.

 

 

 

XBTFX Safety and Security

 

XBTFX is not currently regulated by the Financial Sector Conduct Authority (FSCA). XBTFX is not regulated by other global regulatory entities (such as FCA, FSA, CySEC, etc.)

 

XBTFX Protection of Client Funds

 

🔎 Security Measure	📌 Information
🔒 Segregated Accounts	✅Yes
🔏 Compensation Fund Member	None
🔐 Compensation Amount	None
🔓 SSL Certificate	✅Yes
🗝️ 2FA (Where Applicable)	✅Yes
🔑 Privacy Policy in Place	✅Yes
🔒 Risk Warning Provided	✅Yes
🔏 Negative Balance Protection	✅Yes
🔐 Guaranteed Stop-Loss Orders	None

 

XBTFX Security while Trading

 

XBTFX, which caters to South African traders, emphasizes several security measures to protect trading activity. However, it is important to know that XBTFX is an unlicensed offshore forex broker.

Because of this lack of regulation, particularly the absence of oversight by South Africa’s Financial Sector Conduct Authority (FSCA), the broker does not conform to the high regulatory norms generally applied by such authorities.

While XBTFX uses security procedures such as SSL encryption to protect data and keeps segregated accounts to guarantee customer funds are safe, the lack of regulatory compliance may pose dangers.

South African traders contemplating XBTFX should carefully analyze these considerations, considering that the broker’s accountability and the protection mechanisms accessible to them in case of disputes or financial irregularities may be impacted by the lack of regulation.

 

Pros and Cons – Regulation and Safety of Funds

 

✅ Pros	❎ Cons
XBTFX has strict AML/KYC policies in place	XBTFX is unregulated
There is a risk warning and privacy policy on the XBTFX website	XBTFX is not a member of a compensation fund, which offers no investor protection in case of bankruptcy or liquidation of the broker

 

 

Are my personal details safe with XBTFX?

Yes, XBTFX has a privacy policy in place.

 

Can I set two-factor authentication (2FA) on my XBTFX account?

XBTFX has not stated whether two-factor authentication is supported for account access. However, 2FA can be used on the trading platforms offered.

 

 

 

XBTFX Bonus Offers and Promotions

 

XBTFX offers South African traders the following bonuses and promotions:

 

• ✅ Affiliate and Partner Refer and Earn

 

The affiliate program at XBTFX provides South African traders with a lucrative opportunity to earn a considerable portion of the profits generated by their referred users.

Participants who register as affiliates receive a unique affiliate partner link, critical in tracking new user acquisitions for the platform. The affiliate program is designed to provide constant incentives, with earnings paid out in USD hourly.

The payment structure is defined by the revenue volume generated by the referred accounts’ closed transactions. This approach ensures that affiliates are adequately reimbursed based on the trading activity of their referrals.

The multi-tiered structure of XBTFX’s affiliate program distinguishes it, allowing affiliates to earn from direct referrals and referrals brought in by their partners.

Furthermore, this multi-tier architecture has three layers, considerably increasing the earning potential for South African traders participating in the program.

 

 

Are there any trading competitions or promotions with XBTFX?

No, there are no trading competitions or other promotions listed by XBTFX.

 

How does the Refer and Earn program work with XBTFX?

You can use your unique referral link to recommend new clients and earn commissions based on their trading actions.

 

 

 

XBTFX Affiliate Program Features

 

South African traders and organizations can profit from the XBTFX affiliate program by referring new members to the trading platform.

This program’s structure is intended to reward affiliates with up to 30% of the revenue made by their referred users through trading activities. Upon registration, south African affiliates receive a unique affiliate partner link, essential for tracking the users they introduce to XBTFX.

The payment mechanism is what distinguishes this scheme. Compensation is paid hourly in USD and is directly according to the revenue earned by completed transactions. This ensures that South African affiliates get rewarded on time and consistently for their activities.

In addition to its multi-level structure, the program allows South African affiliates to earn commissions up to three tiers deep, including direct referrals and the partners they bring on board.

The affiliate pay program in South Africa is tiered based on the number of active traders referred. Affiliates earn 10% for one to five active traders, 20% for six to nine active traders, and 30% for ten or more active traders.

In South Africa, an active trader is a freshly registered user who has executed live trades on the XBTFX platform. Payments in Tether (USDT) are completed within one hour of the transaction’s completion, assuring punctuality and correctness.

XBTFX encourages South Africans interested in the program to contact their support staff for further information. Prospective affiliates should also read the XBTFX affiliate agreement and solicitation rules to verify they are per the platform’s terms and conditions.

The XBTFX Partner Portal provides a full picture of South African affiliates’ commercial activity. This interface provides precise insights into registrations, deposits, withdrawals, income, and trading statistics, allowing them to promote and expand their businesses more effectively.

 

How to open an Affiliate Account with XBTFX

 

To register an Affiliate Account, South African traders can follow these steps:

 

• ✅ Begin by visiting the XBTFX website. This is your entry point to the numerous services and programs provided by XBTFX.
• ✅ Look for a section or a link labeled “Affiliates” on the XBTFX homepage. This section is dedicated to the affiliate program and contains all the essential details.
• ✅ Select the Register or Sign Up as an Affiliate option. This will usually direct you to an online form.
• ✅ Fill out the registration form with your personal information. Your name, email address, and phone number will be included. Check that the information supplied is correct and up to date.
• ✅ You will be prompted to create a username and password as part of the registration process. Select credentials that are both secure and memorable.
• ✅ Before registering, you must agree to the affiliate program’s terms and conditions. Reading and comprehending these terms is critical to complying with XBTFX policies.
• ✅ Submit your affiliate program application after completing all the required information and agreeing to the rules.
• ✅ The XBTFX staff will assess your application after it has been submitted. Be patient, as approval may take some time.
• ✅ After approval, you will be given a unique referral link. This link is critical because it keeps track of the new clients you refer to XBTFX.
• ✅ Start advertising XBTFX with your referral link. You can distribute this link to your network and marketing outlets.

 

 

Finally, You can access the XBTFX Partner Portal as an affiliate to track registrations, deposits, withdrawals, and earnings.

 

 

What information must I provide to open an Affiliate Account with XBTFX?

You must provide your name, email address, phone number, and agreement to the terms and conditions.

 

Can I track my referrals’ activities in my XBTFX Affiliate Account?

Yes, the XBTFX Partner Portal allows you to follow your referrals’ registrations, deposits, withdrawals, and trading actions.

 

How are affiliate earnings calculated and paid out by XBTFX?

Earnings are calculated based on revenue produced by closed transactions of referred accounts and are distributed in USD hourly.

 

What tools does XBTFX provide to help affiliates promote their services?

XBTFX gives a unique affiliate partner link and access to the Partner Portal for promotional and tracking purposes.

 

 

 

XBTFX Minimum Deposit

 

🔎 Live Account	💴 Minimum Dep.
🥇 Standard	190 ZAR / $10
🥈 ECN	190 ZAR / $10

 

 

Can I deposit in cryptocurrencies with XBTFX?

Yes, XBTFX accepts the following cryptocurrencies: BTC, LTC, ETH, DOGE, XRP, USDT, and USDC.

 

Can I start trading immediately after making a minimum deposit with XBTFX?

Yes, trading can begin as soon as your deposit is completed, which for cryptocurrencies might be same-day.

 

 

XBTFX Account Types and Features

 

🔎 Live Account	💴 Minimum Dep.	📈 Average Spread	📉 Commissions	💶 Average Trading Cost
🥇 Standard	$10	1 pips	$0.10	9 USD
🥈 ECN	$10	0.01 pips	$7 per lot	8 USD

 

XBTFX Standard Account

 

The XBTFX Standard Account is ideal for novices or individuals who prefer a simple trading method.

Although it has broader spreads starting at 1 pip, the benefit of no commission fees makes this account appealing to novice traders and those with limited capital, as it streamlines cost structure while reducing upfront expenses.

With its lower minimum deposit requirement, The standard account offers accessibility to South African beginners seeking entry into Forex and cryptocurrency markets without raising significant financial commitments.

 

💴 Minimum Deposit	190 ZAR ($10)
💵 Deposit Fees	None
⏰ Withdrawal Speed	Same-day withdrawals
💶 Commission Fees	None. only the spread is charged
🪙 Cryptocurrency Fees	None
📈 Share CFD Fees, Per Share	US - $0.10 EU, Asia, Russia – 0.45%
📉 Average Spreads	From 1 pip
💷 Account Base Currency	BTC, ETH, XRP, DAI, USDT
📊 Maximum Leverage	Up to 1:500
☪️ Islamic Account Option Offered	None
🖥️ Execution Server	London Equinix LD4
📌 Micro-Trading Offered	✅Yes
📍 Automated Expert Advisor Trading Supported	✅Yes
💹 Trading Strategies Allowed	All
💻 Trading Platforms Available	MetaTrader 4, MetaTrader 5, cTrader
↪️ Trade Execution	STP - Market

 

 

XBTFX ECN Account

 

The ECN Account caters to proficient traders seeking greater efficiency with tighter spreads and quicker execution. With this account, currency pairs can experience remarkably low starting spreads at 0.01 pips but with a small commission fee of $3.5 per lot; cryptocurrency trades are also subject to a 0.075% charge.

This type of account is highly sought-after by high-volume traders who use algorithmic strategies due to its direct connection with liquidity providers for swift trade implementation.

Professional South African traders looking for advanced trading features will find the ECN Account useful in executing complex trading plans that optimize profitability while minimizing risks.

 

💴 Minimum Deposit	190 ZAR ($10)
💵 Deposit Fees	None
⏰ Withdrawal Speed	Same-day withdrawals
💶 Commission Fees	$3.5 per lot, per side
🪙 Cryptocurrency Fees	0.075%
📈 Share CFD Fees, Per Share	US - $0.10 EU, Asia, Russia – 0.45%
📉 Average Spreads	From 0.01 pips
💷 Account Base Currency	BTC, ETH, XRP, DAI, USDT
📊 Maximum Leverage	Up to 1:500
☪️ Islamic Account Option Offered	✅Yes
🖥️ Execution Server	London Equinix LD4
📌 Micro-Trading Offered	✅Yes
📍 Automated Expert Advisor Trading Supported	✅Yes
↪️ Trading Strategies Allowed	All
💻 Trading Platforms Available	MetaTrader 4, MetaTrader 5, cTrader
▶️ Trade Execution	STP - Market

 

 

XBTFX Demo Account

 

XBTFX provides a demo account for South African traders, a wonderful tool for novices and experienced traders to practice and perfect their trading techniques without incurring any financial risk.

This account replicates real-world market circumstances, allowing users to practice trading forex, cryptocurrencies, and other financial products XBTFX provides.

The demo account is especially useful for people new to trading or who want to try new techniques because it gives a risk-free environment to learn and experiment.

 

 

XBTFX Islamic Account

 

XBTFX’s Islamic trading accounts offer the same high-quality execution and advanced trading infrastructure as the ECN and Standard accounts.

South African traders can use the XBTFX MT5 platform to trade all instruments, including cryptocurrency pairs, without incurring swap interest.

Notably, the MetaTrader 5 platform allows Islamic trading accounts using Tether (USDT) as the foundation currency, enabling seamless transactions in Tether and other supported cryptocurrencies.

South African traders who use XBTFX’s Islamic accounts benefit from a minimal minimum deposit requirement of just $10 equivalent, quick deposit upon block confirmation, same-day withdrawals, and no fees on deposits or withdrawals.

It should be noted, however, that these accounts are not meant for long-term carry positions to minimize swap charges. XBTFX keeps an eye on these accounts for any fraudulent or manipulative activity.

XBTFX retains the right to impose storage costs, revoke swap-free status, apply historical swap fees, or even terminate the client agreement and cancel all trades on the account if abuse is found, such as holding positions open for more than 15 days.

This stringent regulation guarantees the integrity of the Islamic account’s purpose and Sharia compliance.

 

 

XBTFX Professional Account

 

XBTFX does not provide a separate professional account for individual South African traders. However, for South African organizations, XBTFX offers a Corporate Account to meet specific corporate needs.

South African businesses interested in XBTFX’s Corporate Account can take advantage of flexible trading circumstances, including leverage choices of up to 1:500.

The rates offered are determined by deposit amounts and trading volumes, demonstrating XBTFX’s dedication to meeting the different corporate demands of the South African market.

The Corporate Account is noted for its heavy emphasis on Anti-Money Laundering (AML) and Know Your Business (KYB) regulations. These strict compliance and security standards are especially important for South African corporate clients since they ensure a safe and transparent trading environment.

South African businesses benefit from XBTFX’s relationship with a respected crypto processing and blockchain wallet provider in Estonia. This collaboration facilitates the easy acceptance of digital assets, enhancing trade opportunities and flexibility for South African corporate entities.

 

 

Pros and Cons XBTFX Account Types and Features

 

✅ Pros	❎ Cons
XBTFX charges near zero-pip spreads on the ECN account	There are only two retail accounts
There are competitive trading commissions charged on the Standard and ECN Account	Both the Standard and ECN accounts face wide spreads and commission fees

 

 

What are the differences between ECN and Standard accounts at XBTFX?

With XBTFX, ECN accounts offer tighter spreads starting at 0.01 pips with a commission, whereas Standard accounts have broader spreads starting at 1 pip with no commission.

 

Are there any account maintenance fees with XBTFX?

No, account maintenance and inactivity fees are not charged by XBTFX.

 

 

 

How to open and Close an XBTFX Account

 

To open an account with XBTFX, South Africans can follow these steps:

 

• ✅ Begin by using your choice web browser to access the XBTFX website.
• ✅ Locate and click on the sign-up or registration link on the XBTFX homepage.
• ✅ Fill in the appropriate fields with your personal information, such as your full name, email address, phone number, and country of residence, which should be South Africa.
• ✅ Upload identification papers to verify your account. A valid passport or driver’s license for identification and a current utility bill or bank statement for proof of address are usually required.
• ✅ Select a cryptocurrency from the list of supported currencies to fund your account. Ensure you know the currency rates and potential conversion fees as a South African.
• ✅ Choose from XBTFX’s available trading platforms: MT4, MT5, or cTrader. Familiarise oneself with the characteristics of the chosen platform.
• ✅ Before beginning live trading, it is recommended that you practice using a demo account to become acquainted with the trading environment.

 

 

Once you are comfortable, you can move on to a live trading account.

 

 

How to Close an XBTFX Live Trading Account

 

To close a live trading account with XBTFX, South African traders can follow these steps:

 

• ✅ Contact XBTFX support or your assigned account manager to begin the account closing process. This can be accomplished through email, live chat, or phone.
• ✅ To proceed with the account closure, follow any steps or instructions the XBTFX support team offers.
• ✅ Ascertain that your account balance is zero and that all pending trades or transactions have been closed or settled.
• ✅ If you still have funds in your account, move them to your wallet or another supported Bitcoin wallet.

 

 

Wait for confirmation from the XBTFX team that your account has been closed successfully. This step is critical to completing the procedure and deactivating your account.

 

 

Can I open an account with XBTFX from any country?

No, you can only open an account with XBTFX if you reside in a country like South Africa, where service is not restricted. For instance, XBTFX does not serve the United States, Quebec, Belgium, Belarus, Russia, Iran, North Korea, Sudan, Yemen, etc.

 

Is it possible to open multiple trading accounts with XBTFX?

XBTFX does not say specifically whether multiple trading accounts are permitted.

 

What is the first step to close my XBTFX trading account?

Contact XBTFX support or your account manager to begin the account closure procedure.

 

How do I withdraw my funds before closing my XBTFX account?

Before terminating your XBTFX account, transfer any remaining funds to your wallet or another supported cryptocurrency wallet.

 

 

 

XBTFX Base Account Currencies and Basic Order Types

 

The base account currencies available to South Africans include the following:

 

• ✅ BTC
• ✅ ETH
• ✅ XRP
• ✅ DAI
• ✅ USDT

 

 

XBTFX Basic Order Types

 

• ✅ A market order can be either a buy or a sell order that executes at the current market price. This is the current price displayed on your price chart. If you place a market order, you will be immediately entered at the best available price.
• ✅ Market orders are most effective when a trading opportunity requires prompt action. Click buy/sell at the market to enter the trade immediately.
• ✅ A stop order can be either a buy or sell stop, depending on whether you wish to purchase above or below the market.
• ✅This is useful for trading breakouts or trend continuation strategies when you want the market to continue moving in the same direction.

 

 

Alternatively, if you believe the price will reverse when it reaches a certain price, you can place a limit order.

 

 

XBTFX MAM / PAMM Features

 

XBTFX offers powerful Multi-Account Manager (MAM) and Percentage Allocation Management Module (PAMM) systems to South African traders, covering the needs of experienced traders and fund managers.

The MAM platform is extremely adaptable, allowing for the efficient management of many trading accounts via various allocation techniques.

South African traders can choose ten alternative formulas, including proportionate allocation based on equity, balance, free margin, and set lot allocation. This versatility is critical for personalizing solutions to client’s needs and risk profiles.

Notably, the capacity of the MAM system to activate or deactivate client engagement in individual trades is a distinguishing feature.

This function is especially useful when managing clients with various risk tolerances because it allows for temporary exclusion from specific trades without requiring total withdrawal.

The PAMM platform from XBTFX is intended for fund managers who want to manage many customers’ investments in a single account while ensuring that gains and losses are divided appropriately.

This configuration benefits South African investors seeking to harness the experience of seasoned traders and fund managers intending to expand their trading activities.

Furthermore, XBTFX’s PAMM accounts use raw ECN accounts, with leverage of up to 200x for forex, 25x for crypto, 100x for commodities, and 50x for CFDs. These accounts are completely compatible with MetaTrader 5, which improves the trading experience.

South African traders will be pleased to learn that XBTFX’s MAM and PAMM accounts accept many base currencies, including USD, USDT, BTC, ETH, and XRP.

This adaptability benefits both fiat and cryptocurrency traders, allowing them to select the currency that best meets their needs.

Furthermore, the platforms provide exact allocation, allowing investments as low as $30 and as high as $300,000, offering accessibility for a broad range of South African investors.

 

 

What leverage options are available in XBTFX MAM/PAMM accounts?

XBTFX MAM/PAMM accounts provide up to 200x leverage for forex, 25x for crypto, 100x for commodities, and 50x for CFDs.

 

What base currencies are supported in XBTFX MAM/PAMM accounts?

Base currencies on XBTFX MAM/PAMM accounts include USD, USDT, BTC, ETH, and XRP.

 

 

 

Social Trading with XBTFX

 

The copy trading function of XBTFX Social provides South African traders with a novel approach to participate in financial markets by imitating the trading activity of experienced investors.

This method is especially beneficial for novice traders or those with limited time because it allows them to benefit from the expertise of successful traders without actively managing their deals.

The platform accepts a variety of fiat and cryptocurrency currencies, including USD, USDT, BTC, ETH, and XRP, with fees calculated in the currency of choice. XBTFX MetaTrader 5 Social Copy Trading has several useful features specific to South African traders.

Among these are automatic fee payment choices, the opportunity for investors to close redundant orders, detailed account information, and automated risk management.

Furthermore, this platform allows for infinite members for a single master trader. Followers retain full control over their accounts, with the ability to establish and terminate positions and stop following a master trader, which closes any replicated positions automatically.

This strategy outperforms standard trading accounts by seamlessly combining the independence of individual trading with the thoughts and strategies of seasoned traders.

 

 

Are there any fees for using XBTFX Social Trading?

Yes, there might be. Fees are determined in the currency of choice in XBTFX Social Trading. However, exact charge information is not revealed.

 

Can I stop following a master trader in XBTFX Social Trading?

Yes, you can stop following a master trader in XBTFX Social Trading, which closes any copied positions automatically.

 

 

 

XBTFX Trading Platforms

 

XBTFX offers South African traders a choice between these trading platforms:

 

• ✅ cTrader
• ✅ MetaTrader 4
• ✅ MetaTrader 5

 

 

XBTFX cTrader

 

cTrader is distinguished by its clean, user-friendly design, making it a popular choice for novice and experienced traders in South Africa. This platform is especially beneficial for individuals who prefer technical trading because it has excellent charting capabilities and many analytical tools.

South African traders will value cTrader’s direct market access, which incorporates Level II pricing and provides an in-depth picture of market liquidity – a key benefit for those dealing in huge quantities or wanting a more transparent trading environment.

Furthermore, cTrader’s support for algorithmic trading is a godsend for traders wishing to automate their tactics, and it aligns nicely with South Africa’s growing interest in tech-driven trading solutions.

 

 

XBTFX MetaTrader 4

 

The South African trading community values MetaTrader 4’s reputation for dependability and full capabilities. Its comprehensive technical analysis tools and indicators are ideal for traders who base their strategies on technical insights.

The platform’s customization features enable South African traders to personalize their trading experience to their requirements, improving usability and efficiency.

Furthermore, MT4’s capability for automated trading via Expert Advisors (EAs) is especially advantageous for those who prefer a hands-off approach or have time constraints, making it a versatile alternative for the many trading styles widespread in South Africa.

 

 

XBTFX MetaTrader 5

 

MetaTrader 5, a more powerful version of the popular MT4, provides South African traders access to a greater range of markets, including Forex, commodities, and stocks.

This multi-asset platform has improved trading tools, more periods, and greater order management features, making it ideal for traders looking for a more comprehensive trading environment.

The integrated economic calendar is a noteworthy feature, providing timely insights into market-moving events, which is critical for making informed trading decisions. The upgraded strategy tester in MT5 is especially appealing to traders who use algorithmic strategies, as it provides efficient back-testing possibilities.

This platform is well-suited to the changing needs of the South African market, as traders are increasingly seeking dynamic, multi-functional trading environments.

 

 

Pros and Cons XBTFX Trading Platforms

 

✅ Pros	❎ Cons
South Africans can trade across devices with XBTFX’s platforms	XBTFX does not have any proprietary trading software for desktop, mobile, or the web

 

 

What trading platforms does XBTFX offer?

XBTFX provides trading platforms such as cTrader, MetaTrader 4, and MetaTrader 5.

 

What are the advantages of using MetaTrader 5 with XBTFX?

MetaTrader 5 with XBTFX provides powerful trading tools, multicurrency support, and quick execution.

 

 

 

Which Markets Can You Trade with XBTFX?

 

South African traders can expect the following range of markets from XBTFX:

 

• ✅ Forex
• ✅ Cryptocurrencies
• ✅ Commodities
• ✅ Precious Metals
• ✅ Indices
• ✅ Shares

 

 

Financial Instruments and Leverage offered by XBTFX

 

🔎 Instrument	📈 Number of Assets Offered	📉 Max Leverage Offered
📊 Forex	77	1:500
🪙 Cryptocurrencies	91	1:25
🍏 Commodities	14	1:100
💎 Precious Metals	11	1:100
💱 Indices	12	1:50
💹 Shares	200	1:5

 

Broker Comparison for a Range of Markets

 

🔎 Broker	🥇 XBTFX	🥈 Alpari	🥉 OANDA
📈 Forex	✅Yes	✅Yes	✅Yes
💎 Precious Metals	✅Yes	✅Yes	✅Yes
📉 ETFs	None	None	None
📊 CFDs	✅Yes	✅Yes	✅Yes
📌 Indices	✅Yes	✅Yes	✅Yes
📍 Stocks	✅Yes	✅Yes	✅Yes
🪙 Cryptocurrency	✅Yes	None	✅Yes
💱 Options	None	None	None
💡 Energies	✅Yes	✅Yes	✅Yes
↪️ Bonds	None	None	None

 

Pros and Cons XBTFX Range of Markets

 

✅ Pros	❎ Cons
South Africans can access over 200 financial instruments	There is a limited range and variety of markets offered compared to other brokers
XBTFX distributes all financial instruments equally across accounts	While negative balance protection is applied, traders could still lose their entire investment

 

 

What forex pairs can I trade with XBTFX?

Over 70 forex pairs are available for trading at XBTFX.

 

What shares can I trade with XBTFX?

XBTFX allows you to trade in over 200 different stocks, including Apple, Google, etc.

 

 

 

XBTFX Fees, Spreads, and Commissions

 

XBTFX Spreads

 

XBTFX tailors its spreads to South African traders, considering the account type chosen and the financial instrument. For example, the ECN account often offers tighter spreads starting at 0.01 pips, albeit with premium charges.

The Standard account, on the other hand, has broader spreads starting at 1 pip and no commission fees. Furthermore, market conditions can influence spread values, resulting in changes during increased volatility or decreased liquidity.

 

XBTFX Commissions

 

South African traders using the ECN account could expect a commission of $3.5 per lot when trading currency pairs. Meanwhile, cryptocurrency trading incurs a 0.075% charge dependent on the amount traded.

Furthermore, XBTFX charges a $0.10 per share cost on US stock CFDs, while 0.45% is charged on EU, Asia, and Russian stock CFDs on both Standard and ECN Accounts.

 

XBTFX Overnight Fees

 

Overnight costs, also known as swap fees, are imposed on positions held open overnight and determined by market conditions and position size.

South African traders who use Islamic accounts and follow Sharia law are immune from these fees. While XBTFX does not reveal these fees, they supply South African traders with instructions for accessing swap prices via the MetaTrader 5 platform, assuring transparency.

 

XBTFX Deposit and Withdrawal Fees

 

South African traders will welcome the lack of deposit or withdrawal fees, making handling their funds with XBTFX more convenient.

 

XBTFX Inactivity Fees

 

XBTFX does not charge fees for dormant trading accounts, allowing South African traders to continue trading without financial consequences.

 

XBTFX Currency Conversion Fees

 

When working with XBTFX, South African traders must know potential currency conversion fees. Because the broker only accepts cryptocurrencies, cash deposits, and withdrawals may incur fees based on current exchange rates.

 

 

Pros and Cons XBTFX Trading and Non-Trading Fees

 

✅ Pros	❎ Cons
XBTFX charges low spreads on the ECN Account	The spreads on the Standard Account are wide, and Stock Indices incur commissions
Standard Accounts are commission-free on forex and crypto	Currency conversion fees could apply for South Africans depositing/withdrawing in ZAR
There are no inactivity fees applied to dormant accounts	XBTFX’s spreads are not as tight compared to other brokers

 

 

Does XBTFX charge inactivity fees?

No, there are no inactivity fees at XBTFX.

 

What are the commission fees for shares with XBTFX?

XBTFX charges $0.10 a share for US stock CFDs and 0.45% for EU, Asia, and Russian stock CFDs.

 

 

 

XBTFX Deposits and Withdrawals

 

XBTFX offers South African traders the following deposit and withdrawal methods:

 

• ✅ Bank Transfers
• ✅ Cryptocurrency Wallets

 

 

How to make a Deposit with XBTFX

 

To deposit funds to an account with XBTFX, South African traders can follow these steps:

 

• ✅ Log in to your XBTFX trading account first.
• ✅ Once logged in, navigate to and select the ‘Deposit’ area.
• ✅ Select the coin that you want to use for the deposit. XBTFX supports a variety of cryptocurrencies, giving South African traders options.
• ✅ Enter the amount you want to deposit. Remember that XBTFX accepts deposits as low as $10 equivalent, making it available to traders of all capital amounts.

 

 

To confirm your deposit, follow the on-screen steps. This could entail confirming the transaction using your cryptocurrency wallet.

 

 

How long do XBTFX Deposits take?

Cryptocurrency deposits are often processed on the same day, providing South Africans a quick way to fund their accounts. In contrast, Bank transfers can take 1 to 3 days to complete. Because of the lengthier processing time, this procedure may be less recommended.

 

How long does it take for a deposit to reflect in my XBTFX account?

Cryptocurrency deposits are typically quick, but other methods can take several business days.

 

Can I deposit funds into my XBTFX account using a credit card?

No, XBTFX only accepts deposits from bank transfers and crypto wallets.

 

 

How to Withdraw Funds from XBTFX

 

To withdraw funds from an account with XBTFX, South African traders can follow these steps:

 

• ✅ Start by logging into your XBTFX account using your credentials.
• ✅ On your account dashboard, locate and pick the ‘Withdraw’ option.
• ✅ Choose the coin in which you want your withdrawal to be made.
• ✅ Enter the amount of money you want to withdraw. With its adjustable withdrawal amounts, XBTFX meets the needs of a wide range of traders.

 

 

To complete your withdrawal request, follow any additional steps supplied by XBTFX.

 

 

How long do XBTFX Withdrawals take?

Withdrawals from cryptocurrency wallets are usually done the same day, making it a convenient choice for South Africans who require immediate access to their assets.  Bank transfer withdrawals can take 1 to 3 days. While secure, this approach takes longer than cryptocurrency withdrawals.

 

Are there any withdrawal fees with XBTFX?

No, there are no withdrawal fees at XBTFX.

 

Can I withdraw my funds from XBTFX to a cryptocurrency wallet?

Yes, XBTFX allows withdrawals to a variety of cryptocurrency wallets.

 

 

XBTFX Deposit Currencies, Deposit and Withdrawal Processing Times

 

🔎 Payment Method	💴 Deposit Currencies	⏰ Deposit Processing	⏱️ Withdrawal Processing
💳 Bank Transfers	EUR	1 – 3 days	1 – 3 days
🪙 Cryptocurrency	BTC, LTC, ETH, DOGE, XRP, USDT, USDC	Same-day	Same-day

 

Broker Comparison – Deposit and Withdrawals

 

🔎 Broker	🥇 XBTFX	🥈 Alpari	🥉 OANDA
⏰ Minimum Withdrawal Time	Same-day	Instant	1 business day
⏱️ Maximum Estimated Withdrawal Time	1 – 3 days	3 to 5 Business Days	2 – 5 Working Days
⏲️ Instant Deposits and Instant Withdrawals	None	✅Yes	✅Yes

 

Pros and Cons of XBTFX Deposits and Withdrawals

 

✅ Pros	❎ Cons
South Africans can easily deposit/withdraw using crypto wallets	There are limited payment methods offered, and none are local for South Africans
There are same-day withdrawals when using crypto wallets.	South Africans could face currency conversion fees on ZAR deposits and withdrawals

 

 

Are there any limits on deposits or withdrawals with XBTFX?

No, XBTFX specifies no maximum deposit or withdrawal limits.

 

Can I withdraw funds in cryptocurrencies from XBTFX?

Yes, XBTFX accepts cryptocurrency withdrawals in BTC, LTC, ETH, DOGE, XRP, USDT, and USDC.

 

 

 

XBTFX Education and Research

 

XBTFX offers the following Educational Materials to South African traders:

 

• ✅ Blogs
• ✅ Opinion pieces
• ✅ Demo Account

 

 

and much, MUCH more!

 

Research and Trading Tool Comparison

 

🔎 Broker	🥇 XBTFX	🥈 Alpari	🥉 OANDA
📈 Economic Calendar	None	✅Yes	✅Yes
📉 VPS	None	None	✅Yes
📊 AutoChartist	None	✅Yes	✅Yes
💹 Trading View	None	✅Yes	✅Yes
💱 Trading Central	None	None	None
📌 Market Analysis	None	✅Yes	✅Yes
📍 News Feed	✅Yes	✅Yes	✅Yes
🔢 Blog	✅Yes	✅Yes	✅Yes

 

Pros and Cons XBTFX Education and Research

 

✅ Pros	❎ Cons
South Africans can register a demo account before they invest capital	There is a limited educational section, especially when compared to the education offered by other brokers
There are a few articles that could be useful to beginner traders	XBTFX does not provide an economic calendar, VPS, or other third-party tools

 

 

Can beginners benefit from XBTFX’s educational resources?

Yes, beginners might find the accessible blogs and news articles on XBTFX useful.

 

Does XBTFX offer webinars or live training sessions?

No, XBTFX makes no mention of webinars or in-person training sessions.

 

 

 

XBTFX Customer Support

 

🔎 Customer Support	📌 XBTFX Customer Support
⏰ Operating Hours	24/7
🔊 Support Languages	Multilingual
🥰 Live Chat	✅Yes
💌 Email Address	✅Yes
☎️ Telephonic Support	✅Yes
5️⃣ The overall quality of XBTFX Support	4/5

 

Pros and Cons XBTFX Customer Support

 

✅ Pros	❎ Cons
XBTFX can be contacted using different avenues	There is no language selection option on the XBTFX website

 

 

What languages does XBTFX Customer Support offer?

XBTFX Customer Service is offered in a variety of languages.

 

Does XBTFX provide technical support for trading platforms?

Yes, XBTFX offers technical assistance for its trading platforms.

 

 

 

XBTFX Cashback Rebates Features and Conditions

 

XBTFX takes a novel approach to the traditional rebate model, personalizing it specifically for its partners and affiliates, including those in South Africa.

Unlike most rebate programs, which give traders direct benefits based on their trading volumes, XBTFX’s rebate scheme is intimately related to its affiliate program.

Individual traders do not receive rebates for their trading activity under this system; instead, rebates are distributed towards partners and affiliates depending on the actions of traders introduced to the broker by these associates.

In addition, these rebates are a part of the revenue made by the suggested clients’ trading actions. As these advised clients’ trading activity grows, so does the affiliate’s potential refund.

This novel technique rewards affiliates for bringing in new clients and encouraging active trading inside their referral network.

The particular rebate percentage is determined by the amount of active traders referred by an affiliate and can be as high as 30% of these traders’ profits.

Furthermore, it is worth noting that these rebates are calculated based on the closed transaction volumes of the referred clients and are distributed regularly, ensuring that affiliates in South Africa are consistently rewarded for their efforts.

 

 

How often are XBTFX Cashback Rebates paid out?

XBTFX Cashback Rebates are paid frequently (weekly or monthly), assuring consistent benefits for affiliates.

 

Can I track my cashback rebate earnings with XBTFX?

Yes, earnings are trackable via the XBTFX Partner Portal.

 

 

 

XBTFX Web Traffic Report

 

🔎 Global Rank	2,537,006
📌 Category Rank	15,348
📍 Total Visits	80.3K
📈 Bounce Rate	74.37%
📉 Pages per Visit	0.69
📊 Average Duration of Visit	00:02:07

 

 

XBTFX Geographic Reach and Limitations

 

XBTFX is currently expanding globally across all regions, however, XBTFX does not serve traders from the United States, Quebec, Belgium, Belarus, Russia, Iran, North Korea, Sudan, Yemen, etc.  XBTFX is one of the Top 500 brokers for South African traders.

 

 

In which countries is XBTFX available?

XBTFX is available in several countries worldwide; however, particular availability is subject to local legislation and restrictions.

 

Are there any currency limitations for traders in different countries with XBTFX?

Yes, there might be. While XBTFX accepts a variety of currencies, traders may incur conversion costs if their local currency differs from the base currency of their account.

 

 

 

XBTFX Best Countries by Traders

 

🔎 Country	📉 Market Share
🥇 Antigua and Barbuda	6.68%
🥈 Russia	4.04%
🥉 Jersey	3.52%
🏅 Germany	2.16%
🎖️ Luxembourg	2.12%

 

 

XBTFX vs Alpari vs OANDA – A Comparison

 

🔎 Broker	🥇 XBTFX	🥈 Alpari	🥉 OANDA
📌 Regulation	None	IFSC	IIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, BVI FSC
🖥️ Trading Platform	cTrader MetaTrader 4 MetaTrader 5	MetaTrader 4 MetaTrader 5 Alpari Mobile App	MetaTrader 4 MetaTrader 5 OANDA Platform FxTrade
💴 Withdrawal Fee	None	✅Yes	✅Yes
🆓 Demo Account	✅Yes	✅Yes	✅Yes
💵 Min Deposit	$10	95 ZAR	0 ZAR
📈 Leverage	1:500	1:1000	1:888
📉 Spread	From 0.01 pips	From 0.4 pips	From 0.1 pips
💷 Commissions	$3.5 per side, per lot	$1.5	From $35
⛔ Margin Call/Stop-Out	80%/50%	60% to 120% 30% to 100%	100%/ 50%
📊 Order Execution	Market	Instant and Market	Market
🎁 No-Deposit Bonus	None	None	None
↪️ Cent Accounts	None	None	None
⏩ Account Types	Standard Account ECN Account	Standard Account Micro Account ECN Account Pro Account	Standard Account Core Account Swap-Free Account Premium Account Premium Core Account
📍 FSCA Regulation	None	None	None
💳 ZAR Deposits	None	✅Yes	✅Yes
💹 ZAR Account	None	None	None
⏰ Customer Service Hours	24/7	24/5	24/5
🔟 Retail Investor Accounts	2	4	3
☪️ Islamic Account	✅Yes	✅Yes	✅Yes
📉 Minimum Trade Size	0.01 lots	0.01 lots	0.01 lots
📈 Maximum Trade Size	Unlimited	250 lots	1,000 lots
⏰ Minimum Withdrawal Time	Same-day	Instant	1 business day
⏲️ Maximum Estimated Withdrawal Time	1 – 3 days	3 to 5 Business Days	2 – 5 Working Days
⏱️ Instant Deposits and Instant Withdrawals	None	✅Yes	✅Yes

 

 

XBTFX Alternatives

 

 

• 🥇 JustMarkets emerges as an appealing option for South African traders, combining competitive spreads and a comprehensive assortment of trading products. Its user-friendly interface is suitable for both novice and experienced traders. The platform’s focus on delivering educational resources and analytical tools is advantageous for individuals trying to grasp the industry better.

 

• 🥈 OANDA, with its strong regulatory framework and cutting-edge technology infrastructure, OANDA stands out in the South African trading market. OANDA, known for its straightforward pricing strategy and comprehensive market research tools, provides a dependable platform for novice and experienced traders.

 

• 🥉 Exness is a prominent alternative for South African traders, highlighted by its flexible leverage options and a vast range of currency pairs. The platform’s simple account opening process and low deposit requirements suit traders of all skill levels. Exness is also praised for its tight spreads and quick execution times, essential for good trading methods.

 

 

 

Our Experience with XBTFX

 

Our experience with XBTFX as South African traders has been broad and engaging. The platform meets our specialized trading requirements by providing diverse financial instruments, including cryptocurrencies, forex pairs, commodities, and more.

Furthermore, the leverage possibilities available are fairly vast, particularly the 1:500 leverage on forex, which is an important benefit for those trying to optimize their trading potential.

The variety of trading platforms is one of XBTFX’s noteworthy qualities for us. Because cTrader, MetaTrader 4, and MetaTrader 5 are all available, traders of all levels of experience and preference can pick a platform that meets their needs.

In addition, each platform has its own distinct characteristics, such as cTrader’s powerful charting and algorithmic features and MetaTrader 4 and 5’s stability and reliability.

It is crucial to highlight, however, that XBTFX is an unlicensed broker, which raises worries about the security and safety of funds. This is an important consideration for South African traders before engaging in trading activity on the platform.

 

XBTFX Trading Platform

 

XBTFX’s extensive trading platforms cater to various trading styles and preferences. cTrader is appealing because of its user-friendly interface and advanced charting features, making it a fantastic choice for novice and experienced traders.

In addition, MetaTrader 4 and 5 provide a more typical trading experience with the addition of automated trading bots and extensive back-testing environments.

These systems offer a good blend of functionality and ease of use for South African traders. Combining these platforms with XBTFX’s trading circumstances, such as tight spreads and adjustable leverage, improves the overall trading experience.

Accessing these platforms from various devices, such as mobile, web, and desktop, adds convenience, allowing traders to stay engaged and responsive to market movements at all times.

 

Quality of Customer Service

 

XBTFX’s customer support has been excellent. As South African traders, we value the availability of support 24 hours a day, seven days a week, which is critical given the varied time zones and the nature of the currency market, which runs around the clock.

The availability of multilingual help is a key benefit since it ensures that language barriers do not impede the settlement of difficulties or concerns.

The numerous communication channels, such as live chat, email, and phone support, allow multiple ways to contact the support team. Our experiences have been mostly favorable, with the support staff being pleasant and helpful.

However, due to the great number of traders utilizing the platform, there may be delays during peak market hours, which is to be expected.

 

XBTFX Response Time

 

🔎 Support Channel	⏰ Average Response Time	⏲️ User-based Response Time
☎️ Phone	5 minutes	4 – 6 minutes
💌 Email	Same-day	Same-day – 24 hours
🥰 Live Chat	5 minutes	2 – 3 minutes
💙 Social Media	10 minutes	5 – 7 minutes
🤝 Affiliate	Same-day	24 hours

 

 

Recommendations according to our in-depth review of XBTFX

 

According to our in-depth review of XBTFX, the following recommendations are made:

 

• ✅ Provide customer service in local languages, such as Afrikaans and Zulu, and make support professionals available throughout South African business hours.
• ✅ Participate in seminars, workshops, and meetups with the local trading community to better understand their requirements and preferences.
• ✅ Regular market analysis and insights on commodities, stocks, and currency pairs pertinent to the South African economy are provided.
• ✅ To increase brand exposure and goodwill, participate in or sponsor financial literacy programs and community projects in South Africa.
• ✅ To avoid legal concerns and develop confidence, ensure all trading activities and promotions comply with South African laws and regulations.
• ✅ Introduce more payment methods particular to South Africa, such as EFT (Electronic Funds Transfer) and popular local e-wallets, to make transactions easier and more cost-effective for South African traders.
• ✅ To reduce currency conversion expenses and simplify financial administration for local traders, offer trading accounts denominated in South African Rand (ZAR).
• ✅ To increase credibility and confidence among South African traders, seek registration and regulation from a South African financial institution such as the Financial Sector Conduct Authority (FSCA).
• ✅ Introduce special promotions or advantages for South African traders, such as lower spreads or commission savings for ZAR traders.
• ✅ Create and distribute educational content specific to the South African market, such as webinars, tutorials, and market analysis considering local economic trends and events.
• ✅ Collaborate with South African financial institutions or trading communities to strengthen local presence and obtain insight into the demands of South African traders.

 

 

Given South Africa’s significant mobile usage, concentrate on enhancing the mobile trading platform for improved performance and user experience.

 

 

XBTFX Customer Reviews

 

 

🥇 Great Assistance.

I couldn’t find swap rates at first while using the mobile version of MT5. This prompted me to contact their customer service via the help desk. To my astonishment, they responded almost immediately. I am unsure if I was lucky or if their customer service is always prompt, but I enjoyed their precise information on accessing swap rate details. – Sophia Jacobs

 

 

🥈 So Far, So Good!

I started my experience with XBTFX with a $10 investment to test their platform and general operations.” So far, I haven’t run into any problems. I even withdrew, which went smoothly and quickly, with money arriving in my wallet. Although my withdrawal was small, I cannot confirm whether larger quantities receive the same expedited service. – Daniel Grobler

 

 

🥉 Excellent.

When it comes to trading major currencies, XBTFX stands out for its very low trading expenses.” There are no hidden fees for trading fiat currencies on the ECN account other than a small cost of $3.5 per traded lot or $7 for a round lot. My trading experience has been quite satisfactory due to the amazing execution speed. I wholeheartedly endorse them. – Elijah Pretorius

 

 

 

Pros and Cons of Trading with XBTFX

 

✅ Pros	❎ Cons
South African traders can easily access cryptocurrency trading on XBTFX	XBTFX is unregulated
There are over 200 financial instruments that can be traded over MT4, MT5, and cTrader	XBTFX does not offer local deposit/withdrawal methods for South Africans
XBTFX is noted for its rapid withdrawal processing	There is no local customer support in South Africa
The broker has low trading expenses	XBTFX does not offer a ZAR-denominated account
South African traders can use leverage of up to 500:1 to increase their trading potential	There are limited educational materials offered, and no third-party apps or tools
XBTFX offers copy trading and MAM/PAMM solutions	There are limited retail trading accounts offered

 

 

XBTFX Risk Warning and Disclaimer for Traders:  Trading with XBTFX entails considerable risks and may not be appropriate for all South African traders. Using leverage in forex, bitcoin, and other financial markets can result in losses that exceed your initial investment.

Because high leverage can magnify gains and losses, South African traders must properly analyze their investment objectives, experience level, and risk tolerance. Remember that past performance does not guarantee future results.

It is critical to only trade with money you can afford to lose. Before trading with XBTFX or any other broker, South African traders should be thoroughly aware of the risks involved and, if necessary, obtain independent financial advice.

 

 

Our Review Methodology:  For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.  Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.  Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.

 

 

Addendum/Disclosure:  No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.

 

 

Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all South African investors.

Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.

 

 

In Conclusion

 

In our experience, XBTFX offers a mix of characteristics that South African traders must carefully consider. On the plus side, the platform’s vast selection of financial instruments, including many cryptocurrency pairs, is a significant draw.

Furthermore, high-leverage options, particularly in forex trading, entice traders seeking to increase their trading capacity.  According to our research, the options of cTrader, MetaTrader 4, and MetaTrader 5 cater to a wide range of trading preferences, ensuring that both rookie and expert traders can pick a platform that suits their needs.

These systems’ user-friendly interfaces, advanced tools, and capabilities considerably improve the trading experience.

However, the absence of regulation, on the other hand, is a big worry. Trading with an unregulated broker entails some risks, especially regarding fund security and operational transparency. For more conservative traders, this element alone may be a deal breaker.

Customer service is excellent, with 24-hour availability and many avenues of communication. However, educational resources are fairly restricted, which may disadvantage beginners trying to broaden their trading skills.

The cost structure is straightforward, with no hidden expenses. It is admirable that there are no deposit, withdrawal, or inactivity fees. They may be more competitive in the market even with transparent spreads and commission structure.

Furthermore, our findings show that the affiliate and rebate programs are appealing advantages, particularly for individuals trying to supplement their income. These rewards, however, are more linked with partners and affiliates than individual traders.

 

 

Frequently Asked Questions

 

What trading platforms does XBTFX offer in South Africa?

South African traders can choose from the MetaTrader 4, MetaTrader 5, and cTrader platforms, each with features tailored to particular trading styles.

 

Can South Africans trade cryptocurrencies with XBTFX?

Yes, South African traders can trade various cryptocurrencies with XBTFX, taking advantage of competitive spreads and cutting-edge trading platforms.

 

Does XBTFX have Nasdaq 100?

XBTFX offers Nasdaq to South Africans under the symbol “NDXUSD.”

 

Is XBTFX Safe or a Scam?

XBTFX is safe. However, XBTFX is not regulated by the FSCA in South Africa or other known and trusted regulatory entities.

 

Is XBTFX regulated?

No, XBTFX is not regulated locally in South Africa or other regions where the broker operates.

 

How do I open an XBTFX account in South Africa?

To open an XBTFX account in South Africa, go to the XBTFX website, enter your personal information, present identification documents, fund your account with supported cryptocurrencies, and select a trading platform.

 

How long does it take to withdraw from XBTFX?

Withdrawals are typically same-day when South Africans use crypto wallets. However, bank transfers could take up to 3 days.

 

Is XBTFX a regulated broker in South Africa?

No, XBTFX is not officially regulated by South African financial authorities.

 

What deposit methods are available for South African traders on XBTFX?

South African traders can fund their XBTFX accounts with bank transfers and alternative cryptocurrencies.

 

Does XBTFX have VIX 75?

No, XBTFX does not offer the Volatility 75 index as part of its product portfolio.

 

How can I contact XBTFX customer support from South Africa?

South African traders can reach XBTFX customer service 24 hours a day, 7 days a week, via live chat, email, phone, and social media platforms.