XBTFX vs Afterprime: Which Trading Platform Is Better for Your Needs?

Your trading platform determines so much. Everything from the assets and markets you can dabble in, to the speed at which trades are executed. In this post, we’ll compare two major trading platforms: XBTFX vs Afterprime.

Since both brokers offer a variety of unique features suited for different trading styles and preferences, the choice between the two can be overwhelming. So, let’s take a detailed look at their features and how much flexibility they provide so that you can choose one from the two.

Quick Comparison: XBTFX vs Afterprime

We’ll take a deeper dive into the features and flexibility of both brokers further below. However, if you’re in a rush, here’s a real quick side-by-side look at the features of both platforms. It should give you a decent baseline to work with.

What is XBTFX?

The preferred trading platform of 500,000 users across the globe, XBTFX is a crypto and CFD broker that began back in 2019. We offer leveraged trading on forex, stocks, commodities, and, most notably, cryptocurrencies. Our company is regulated by the Seychelles FSA (SD169) and registered in Saint Vincent and the Grenadines.

XBTFX is a solid option for a variety of traders, from strictly crypto traders to those who like to dabble in traditional market trading as well. It’s one of the few platforms that accepts both deposits and withdrawals in crypto. We provide access to all the markets through platforms like MetaTrader 4, MetaTrader 5, and cTrader, which are considered industry standards.

Pros of XBTFX

• XBTFX offers leverage of up to 1:500. These aggressive margin options open up the potential of making huge profits with a much smaller initial investment. If you know how to manage the risks associated with it, leveraged trading with such a ratio is quite fruitful.
• Few platforms are as versatile, giving traders the option to trade in the crypto market as well as in more traditional markets like stocks, indices, and commodities. We support 70+ cryptos and over 200 trading instruments on offer.
• We offer three account types - Standard, ECN, and Islamic - designed for different trading styles. The Standard account is commission-free, the ECN provides raw spreads with per-lot commissions, and the Islamic account is swap-free and Sharia-compliant for interest-free trading, making it accessible to Muslim traders by aligning with their religious beliefs.
• Unlike traditional brokers that treat digital assets as secondary offerings, XBTFX fully embraces crypto through direct cryptocurrency deposits and withdrawals in Bitcoin, Ethereum, and other coins.

Cons of XBTFX

• For any sort of long-term, serious trading, KYC is important. This in itself isn’t a bad thing, as KYC is usually a net positive. However, some traders prefer to stay anonymous, and this might be a point against XBTFX from that perspective.
• XBTFX is not accessible in countries like the USA and Belgium, and attempting to bypass restrictions via VPN won’t work as it violates XBTFX’s Terms of Service, risking account suspension.

What is Afterprime?

Founded in 2018, Afterprime is a forex and CFD broker that has emerged from the reconstruction of Global Prime, a broker established back in 2012. It gives traders access to a wide range of global financial markets, including forex, commodities, indices, and crypto.

Pros of Afterprime

• They are known for offering raw spreads starting from 0.0 pips on major forex pairs, along with a commission of $7 per standard round lot. For other trading instruments like commodities and indices, trading is commission-free, which makes it quite cost-effective for active traders.
• They offer numerous platforms, across devices, including MT4, MT5, and TraderEvolution.
• Afterprime provides access to over 300 markets, including but not limited to forex pairs, cryptocurrencies, stocks, commodities, and indices. This gives traders the ability to really diversify their portfolios.
• Traders always appreciate transparency. Afterprime offers “Trade Receipts” with all the details for every single transaction.

Cons of Afterprime

• The platform comes with several trading limitations, such as no Islamic accounts, which makes it difficult for religious Muslims to trade using Afterprime, and no access to cTrader.
• The platform shares its backend tech with Fusion Markets (another Gleneagle-owned broker), which some users find opaque.

Account Types Compared

The more account options there are, the more control over trades you have. It allows you to test different strategies without mixing things up and manage risk better.

XBTFX provides the option for standard and ECN accounts, and both account types are nearly identical, with the major difference being their spread. The minimum deposit is $10, and we accept crypto deposits (BTC, ETH, USDT) with no minimum for most coins.

ECN accounts have tighter spreads from 0.01 pips + $3.50 per lot commission (forex), 0.125% commission on crypto CFD trading, and $0.10–0.45% depending on the region.

Standard accounts have a spread of, for example, 1 pip on EUR/USD and no commissions.

On the other hand, Afterprime only offers a single ECN account with raw spreads from 0.0 pips, with no commissions and no minimum deposits required. However, they recommend a funding amount of $200 or its equivalent in another currency to explore their platform's features fully. Funding can be done with AUD, EUR, USD, GBP, JPY, SGD, and more. Afterprime generates its revenue from raw spreads.

Only XBTFX offers Islamic account options for swap-free trading in compliance with Sharia (also known as Sharia Law). This means no overnight interest charges (swap fee) and is available for both ECN and Standard accounts.

Instruments You Can Trade

More trading instruments diversify your portfolio, and if a specific market, say that of crypto, is slow, and forex seems extremely active, you can switch things up and proactively adapt to the ever-changing market conditions.

Here’s a comparison of trading instruments offered by both platforms. A number of crypto CFD pairs are on offer, including but not limited to BTC/USD and ETH/USD:

Platform Access Comparison: XBTFX vs Afterprime

Your choice of platform decides how quickly and reliably you can execute a trade. Moreover, they are the ones that provide tools for analysis, risk management, as well as access to a wide range of markets. Without them, you would end up missing opportunities and making costly mistakes. So, let’s see what the two brokers have to offer in terms of platform accessibility:

There’s plenty in common between the two, with both offering the industry-standard MT5 trading platform, but here are the differences between them:

Aside from MT4 and MT5, XBTFX provides access to cTrader, whereas Afterprime offers access to their proprietary software, TraderEvolution, with TradingView integration.

XBTFX does not explicitly mention offering API access on its website, but Afterprime does indeed provide FIX API access for professional traders seeking low-latency execution and advanced trading strategies.

Fees and Spreads

Transparency about fees and spreads is extremely important, as they can easily eat into your profits. When they are clearly stated, you can easily calculate their net profits and make accurate predictions. Let’s analyze the two platforms’ fee structures, spreads, and hidden charges to determine which broker is more cost-effective in the long run:

Spreads

The spreads on XBTFX vary based on the type of account you have and the financial instrument being traded. ECN accounts have tighter spreads but incur a fee, whereas the Standard account has wider spreads starting from 1 pip but no commission fees.

Afterprime uses their proprietary trading engine, Boost, and aggregates prices from over 26 liquidity providers to deliver spreads starting from 0.0 pips on major forex pairs for raw ECN.

Commission

For forex, crypto, and stocks/CFDs, XBTFX charges $3.5/lot (round turn), 0.075%-0.125% per trade, and $0.02/share, respectively. Additionally, we apply a commission of $0.10 per share for US stock CFDs, while stock CFDs from the EU, Asia, and Russia incur a 0.45% commission on both Standard and ECN accounts.

Afterprime’s commission structure is as follows:

• Forex & Metals: $7 per round turn
• Cryptocurrencies: 0.05% per notional USD traded per side
• Indices & Commodities: No commission
• Shares: $0.02 per share per side

Swap Rates & Overnight Costs

XBTFX is the only one among the two offering Islamic account options in compliance with the Sharia law, and is swap-free. Afterprime applies swap rates for positions held past 5 PM EST, and overnight charges vary based on the liquidity provider.

Hidden Charges to Watch Out For

Both platforms are fairly transparent about potential charges that may occur. There are no deposit or withdrawal fees for either. However, intermediary bank and crypto network fees may apply.

There is no inactivity fee for XBTFX traders, while Afterprime users are charged $10/month after 1 year of inactivity.

XBTFX vs Afterprime: Leverage & Risk Management

Leverage is one of the greatest advantages of trading CFDs, but since it cuts both ways, without proper risk management, it can be quite a double-edged sword. Let’s compare how much power and control the two platforms offer us:

Customer Support: XBTFX vs Afterprime

A reliable support system is needed while trading because there can be technical or urgent issues that need immediate care. This can truly make or break an experience. Here’s how the two stack up against each other in this regard:

User Reviews: What Traders Are Saying

Let’s take a look at what the users have to say about them now:

XBTFX

• "As I am scalper trader, I would like to leave here some info for other traders using this method. XBTFX is supporting scalping. It is very positive that spreads are indeed low, in a range of 0.01-0.04 points. Execution of deals is working fine, withdrawals are also within a daily range." — amar_omar, Morocco. 
• “tight spreads on altcoins. compared to other brokers, xbtfx offers the best rates letting me scalp crypto without bleeding profits. mt5 execution is lightning-fast”  — schweizer

Afterprime

• "Simply the best out there. Customer Service, Spreads and the best Discord Community anywhere."— TraderJulian1972
• "Very reliable broker with very friendly and useful support."  — simombt 

What Sets XBTFX Apart

Over the years, XBTFX has managed to carve out its own space among many options. Here are some of the many reasons why you might want to give us a try:

• We follow a crypto-first approach. From deposits to withdrawals, everything is handled in crypto, along with leverage of up to 200:1 on crypto and 500:1 for forex pairs, which is quite high by industry standards.
• Most brokers have made KYC mandatory, and so has XBTFX. However, we’ve retained some form of flexibility. We let traders choose between anonymous accounts (Level 1), requiring only an email and country of residence, or fully verified accounts (Level 2) for higher withdrawal limits and additional features.
• We’ve been recognized as the “Crypto Broker of the Year” at the FinanceFeeds Awards 2023.
• With extremely low crypto trading fees and a crypto-first approach (dealing exclusively with crypto deposits/withdrawals), users often enjoy our fast withdrawals.
• We offer plenty of social trading features such as MAM, PAMM, and copy trading. Moreover, XBTFX uses Straight-Through Processing (STP) and ECN execution to make sure trades are routed directly to liquidity providers without manipulation.

If you’re a beginner, XBTFX helps you put your best foot forward. However, if you’re an experienced trader, we give you everything you’d need to scale up your results. Create a free account and start trading today.

Closing Thoughts: Which Platform Wins?

Ultimately, the choice between XBTFX and Afterprime depends on your trading preferences and priorities. Afterprime is a great pick in its regard, with its exceptional customer support, tight spreads, and active Discord community.

However, if you’re looking for a broker with high leverage, a crypto-first approach, advanced social trading features, flexible KYC policies, and support for scalping strategies, XBTFX is the clear choice. 

FAQs

Is XBTFX Regulated?

XBTFX has been registered in Antigua & Bardbuda and is regulated by the Financial Services Authority (FSA) of Seychelles.