XL Trade – Firm Review
- Industry-leading infrastructure for successful traders
- Risk management tools beyond competitors
- Tailored coaching for peak performance
- Fast advancement through proven strategies
- Global marketplace network of experts
Company Overview
XL Trade is an innovative proprietary trading firm that offers traders the opportunity to access significant capital without risking their own funds. Founded with the mission to empower both novice and seasoned traders, XL Trade provides a structured pathway to becoming a funded trader through its evaluation process. The company stands out for its competitive challenge parameters, transparent rules, and generous profit splits.
What distinguishes XL Trade from competitors is its balance of achievable trading metrics with professional standards. Their two-phase evaluation process (Challenge and Verification) is designed to identify disciplined traders who can manage risk while generating consistent returns. With account sizes ranging from $10,000 to $200,000, XL Trade accommodates traders at various experience levels and offers scaling opportunities as traders demonstrate consistent performance. Their comprehensive dashboard and trader support resources make it an attractive option for those seeking a reliable prop firm partnership.
Key Features at a Glance
Challenge Fees
- Standard Challenge – One-time fee starting from $99 (for $10,000 account) to $599 (for $200,000 account)
- Professional Challenge – One-time fee starting from $199 (for $10,000 account) to $799 (for $200,000 account)
- Express Challenge – Higher fee option for traders who want to skip directly to verification phase
- Free Retakes – Available under certain conditions when you miss profit targets but follow all other rules
Account Types
- Standard Challenge Account: 10% profit target with standard trading conditions and moderate risk parameters
- Professional Challenge Account: 8% profit target with more flexible trading conditions for experienced traders
- Funded Account: After passing verification, traders receive a live account with real capital and profit-sharing
- Scaled Account: Opportunity to manage increased capital after demonstrating consistent profitability
Profit Split Options
- Standard Profit Split: 80% for traders and 20% for XL Trade on funded accounts
- Loyalty Program: Profit split can increase to 90% for traders who maintain consistent performance over time
- Scaling Program: Potential to increase account size with maintained profit split percentages
- Bi-weekly Payouts: Eligible for withdrawal every two weeks once the profit threshold is met
Account Sizes
- $10,000: Entry-level account suitable for beginners with lower challenge fees
- $25,000: Mid-sized account for traders with some experience
- $50,000: Intermediate account requiring more consistent trading performance
- $100,000: Advanced account for experienced traders with proven strategies
- $200,000: Professional-grade account for elite traders seeking substantial capital
Trading Platforms
- MetaTrader 4 (MT4): Classic platform with extensive technical analysis tools and customizable features
- MetaTrader 5 (MT5): Advanced platform with enhanced features including depth of market and advanced order types
- TradingView: Web-based charting platform with extensive social features and integrated trading capabilities
- Mobile Trading: Dedicated apps for iOS and Android devices for trading on the go
Financial Markets
- Forex: Major, minor, and exotic currency pairs with competitive spreads
- Indices: Global stock indices including S&P 500, NASDAQ, DAX, and more
- Commodities: Access to gold, silver, oil, natural gas, and other popular commodities
- Cryptocurrencies: Major digital assets including Bitcoin, Ethereum, and other altcoins
- Stocks: Selected equities from US and international markets
Challenge Programs Detail
Standard Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | 30 days | 60 days |
| Profit Target | 10% | 5% |
| Daily Drawdown | 5% | 5% |
| Maximum Drawdown | 10% | 10% |
| Minimum Trading Days | 10 days | 10 days |
Professional Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | 30 days | 60 days |
| Profit Target | 8% | 4% |
| Daily Drawdown | 6% | 6% |
| Maximum Drawdown | 12% | 12% |
| Minimum Trading Days | 8 days | 8 days |
Challenge Specifications
- Max Allocation: Up to $1,000,000 through scaling program for consistent performers
- Scaling: 25% account increase after every 10% profit milestone on funded accounts
- Trading Competitions: Monthly competitions with cash prizes and free challenge entries
- Free Trial: 7-day demo challenge available to test platform capabilities
- Profit Targets: Standard (10%/5%) and Professional (8%/4%) for challenge/verification phases
- Drawdown Structure:
- Daily: 5% (Standard) or 6% (Professional) based on starting balance
- Maximum: 10% (Standard) or 12% (Professional) of starting balance
- Trailing: No trailing drawdown, fixed from starting account balance
Trading Rules and Requirements
- No overnight holding of positions for specific instruments (check website for current list)
- Maximum position size limited to 5% of account balance
- No hedging of positions on the same instrument within Standard accounts
- Minimum 10 trading days required during both challenge and verification phases
- No trading during major economic news releases for Standard accounts
- No use of automated trading systems or EAs on Standard accounts
- Must maintain consistent trading style between challenge and verification phases
- No excessive risk-taking patterns (e.g., martingale strategies)
Company Information
- Founded: 2020
- Location: London, United Kingdom
- Regulation: Registered business in the UK
- Customer Support: 24/5 via live chat, email, and ticket system
- Languages Supported: English, Spanish, Portuguese, German, French
- Trading Hours: According to market hours of each instrument
Payout Methods
- Bank Wire Transfer (2-5 business days)
- Bitcoin and major cryptocurrencies (24-48 hours)
- PayPal (24-48 hours)
- Skrill (24-48 hours)
- Neteller (24-48 hours)
Trading Commissions
- Forex: $7 per lot round turn (Standard accounts)
- Indices: $7 per lot round turn
- Commodities: $7 per lot round turn
- Cryptocurrencies: 0.05% per trade
- Stocks: $0.02 per share
IP Rules
- Multiple accounts must be registered with the same IP address
- VPN usage is allowed but must be declared before trading
- Location changes must be communicated to support team in advance
- Sharing accounts with other traders is strictly prohibited
- Account access from multiple locations simultaneously will trigger security protocols
Video Review
XL Trade Review
Comprehensive review of XL Trade trading services
Unique Features
Trading Flexibility
- News trading allowed on Professional accounts
- Weekend holding positions permitted on certain instruments
- No minimum trading days requirement after achieving funded status
- Multiple trading styles supported including day trading, swing trading, and position trading
Trader Development
- Free educational webinars for all traders
- Performance analytics dashboard with detailed metrics
- Trading psychology coaching available
- Community support groups for accountability and strategy sharing
Why Choose XL Trade?
XL Trade stands out in the competitive prop firm landscape by offering a balanced approach to trader evaluation with realistic profit targets and risk parameters. Their commitment to trader success is evident through their comprehensive support system and educational resources.
Key advantages include:
- High profit split (up to 90%) for consistent performers
- Generous scaling program increasing capital up to $1,000,000
- Free retakes available when following trading discipline
- Multiple account types catering to different trading styles
- Fast bi-weekly payouts with multiple withdrawal methods
- Professional-grade trading infrastructure with low latency execution
- Transparent rules and consistent support throughout the evaluation process
Frequently Asked Questions
How long does it take to get funded?
The timeline to becoming funded with XL Trade depends on your trading performance. At minimum, you must complete the Challenge phase (up to 30 days) and the Verification phase (up to 60 days). However, if you reach your profit targets earlier while meeting the minimum trading days requirement, you can progress faster. Many successful traders complete both phases in 30-45 days total.
Can I hold positions over the weekend?
Yes, XL Trade allows weekend position holding for most instruments, but there are some exceptions. Certain volatile instruments or those with weekend gaps may have restrictions. Professional account holders have more flexibility with weekend holding than Standard account holders. Always check the specific rules for each instrument before holding positions over the weekend.
What happens if I break a rule?
Breaking trading rules typically results in account termination without refund. However, XL Trade does differentiate between serious violations and minor infractions. For minor rule breaches, you may receive a warning. Repeated minor violations will lead to account termination. Major violations like exceeding maximum drawdown, using prohibited trading strategies, or manipulating the platform will result in immediate termination.
Can I trade news events?
News trading policies differ by account type. With Standard accounts, trading during major economic news releases is not permitted, and positions should be closed 10 minutes before high-impact news events. Professional accounts have more flexibility and allow news trading, but still recommend caution due to increased volatility. The trading dashboard provides an economic calendar highlighting upcoming news events.
How often can I withdraw profits?
Funded traders can withdraw profits on a bi-weekly basis. The minimum withdrawal amount is $100, and there is no maximum limit. Withdrawal requests are processed within 24-48 hours, with actual receipt time depending on your chosen payment method. To qualify for profit withdrawal, your account must be in profit after the most recent bi-weekly accounting period.
