XLTRADE Review
XLTRADE is a prop trading firm that offers funded accounts up to $1,000,000 with a 90% profit share and weekly profit payouts.
With funded accounts of up to $1 million, investors can trade with the help of XLTRADE, an offshore prop trading company. All trading techniques are accepted by the company, which also permits investors to keep up to 90% of profits.
XLTRADE are looking for the most enthusiastic traders who can prove they have successful strategies so that they can give them the funding they need to advance their careers in trading. Show them your skills to reach the objectives whilst sticking to the rules and they can give you a funded account.
Chimara Ltd, BVI owns and runs the XLTRADE prop fir. It is supported by sizeable funding from knowledgeable investors around the world. In actuality, Chimara traders are chosen from the best-performing XLtraders who successfully run with accounts invested with $1 million.
The Chimara Ltd offices are based on City Road in London, United Kingdom. XLTRADE is headquartered in the British Virgin Islands, with additional offices in Monaco, Singapore and Dubai.
Evaluation
Investors of different levels of experience can obtain funds through XLTRADE while having their risks and losses covered. Traders must succeed in the evaluation procedure after signing up in order to acquire capital. This entails continually hitting performance benchmarks within established risk guidelines over a predetermined time frame. The trial period is carried out on a virtual account funded with $100,000 that simulates real-market conditions. After passing, you’ll get a fully funded account in less than 24 hours.
By putting down an 8% security deposit, you can open an account even if you don’t make it through the review phase. For instance, you would have to deposit $40,000 to the $500,000 lite funded account. This enables traders to avoid the approval procedure, but it also puts their own money at risk.
Fees
A one-time sign-up charge is required by XLTRADE to cover administrative and maintenance expenses. However, this amount will be entirely repaid if you pass the evaluation process. If you fail, you will still be charged, therefore it can be a risky course of action if you are unsure of your skills.
Depending on the funded account you apply for, there are different one-time setup fees:
- $1,000,000 experience: $1,590
- $500,000 funded account: $1,390
- $100,000 funded account: $490
- $50,000 funded account: $390
Process
There are 3 simple steps to become a funded trader with XLTRADE. The first step is to sign-up to get all of your login information and conditions for your account. You can then select your funding level from $50,000 to $1,000,000. The final step is to start trading and try to reach the objectives whilst sticking to the rules. This will qualify you for access to a funded account which has a generous profit share of 90% which is up there with other top prop firms such as FTMO.
Accounts
XLTRADE has four account types that differ by funding value. The prop trading firm lets you open up to five accounts under one registration. The four levels of trader funding are:
- $1,000,000 lite
- $500,000 lite
- $100,000 lite
- $50,000 lite
You can join XLTRADE’s Elite Trader programme if you manage to trade profitably on an account with a million dollars. Then, they give you access to finance that essentially has no upper limit.
You must consistently accomplish performance goals within predetermined risk boundaries in order to be eligible for funding. XLTRADE place you on an evaluation for a while, during which you must demonstrate your skills. You will be qualified for funding up to $1 million upon successful completion of the evaluation provided you do not breach any of the rules.
The rules of the evaluation criteria are as follows:
- Achieve a 10% performance target per 30-day cycle
- Showcase strong risk control by maintaining the target throughout the cycle
Trading Strategies
XLTRADE are quite flexible in terms of the trading strategies that you can use on your funded account. They allow automated trading with prop firm expert advisors (EAs) and copy trading, provided you are not using any illegal strategies.
Trading Days
This prop firm don’t have a set minimum number of trading days, but in order to pass, you must show that you were able to manage your risks quite well over the period. Performance is subordinate to proper risk management.
A 60-day evaluation is divided into two performance cycles of 30 calendar days each. During a cycle, the performance target has to be achieved and the risk parameter must be maintained.
Profit Share
XLTRADE allows traders to keep 90% of any gains while taking 10%. Their portion is automatically deducted. At the conclusion of each month, an email with a summary of the accounts and profit payouts is delivered. The trader can then decide whether to request a complete distribution of profits or a partial payment in order to expand their account. Upon request, these are immediate.
XLTRADE will transmit money to any worldwide personal or business bank account. Profits can also be paid out in cryptocurrency. Every three months, XLTRADE tops off the financed account by 25% if the trader is regularly profitable.
Brokers
XLTRADE enables market access via the reputable trading broker AvaTrade. You can trade with excellent trading conditions and high leverage of 1:500. AvaTrade is one of the leading brokerage firms who are regulated in multiple jurisdictions. This can give traders peace of mind so that they can focus on their trading strategies knowing the broker must operate in an open and honest manner.
Platforms
On all accounts, XLTRADE offers the MetaTrader platform. This is the industry standard trading platform that is used by millions of retail traders across the globe. It has thousands of free and paid trading tools for conducting in-depth market analysis across multiple chart types and timeframes with support for various order types. No matter how simple or complex your trading strategy, MetaTrader has got you covered.
Moreover, traders with the $1,000,000 account can use XLTRADE’s DMA platform. This gives you direct market access which can deliver tighter spreads and quicker execution speeds. Whilst this might not matter to many traders, it can be an important feature for anyone who is using scalping strategies that try to capitalise on small market movements.
Instruments
XLTRADE provide a great selection of financial instruments for you to trade, including forex majors and crosses, commodities including gas/oil, precious metals including gold and silver, equities indices and cryptocurrencies. Whatever your interests are, there is something for everyone to trade on user-friendly platforms with very competitive conditions.
| Maximum capital | $1,000,000 |
| Profit split | Up to 90% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | Yes |
| Free trial | No |
| Maximum leverage | 1:500 |
Users can profit from successful trading strategies with the XLTRADE prop trading firm without putting their own money at risk. It offers a fair evaluation procedure and access to several funded accounts with a maximum value of $1 million. Also, every three months, traders have the chance to earn an extra 25% in funds. Moreover, 90% profit distributions make this a lucrative opportunity for savvy traders. Yet novice traders should be aware that start-up expenses are not repaid if you don’t make it beyond the evaluation stage. There are also some trading rules that you need to be aware of if you are to qualify for a funded account.
