Trade XN promises low spreads and no hidden fees?

 

Trade XN promises low spreads and no hidden fees as well as easy access to well over 100 trading instruments, including forex pairs and CFDs on commodities, indices, stocks and precious metals with leverage as high as 1:500 and a state- of- the- art trading software.

And Trade XN also says to be a leading STP broker, authorized to provide financial services to clients around the world, which all sounds wonderful was it not for the minor detail that the website appears to be completely anonymous, that it is not regulated anywhere and that it basically bears all the hallmarks of a scam. If you are still considering Trade XN’s offer, better check the following lines.

 

Trade XN and Safety of Funds

Trade XN says that their company is authorized to provide financial services to clients around the world. And they particularly point out their presence in Malaysia, Singapore, Myanmar, Japan, Chile, Australia and United Arab Emirates.

 

If that was really so however, they should have also been licensed and authorized by the respective local, official regulatory authorities as for example the Australian Securities and Investments Commission (ASIC) or let say the Monetary Authority of Singapore (MAS), but that is simply not so. The website is not regulated anywhere.

 

Offshore brokers’ dirty tricks

The following applies to all unregulated, offshore brokers in general, but even more so to completely anonymous websites like this one. Being unregulated and not supervised in any way by an official regulatory institution, Trade XN have no problem to come up with virtually any pretext to tell you that you can not withdraw even a single dollar.

 

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