XPinvestment – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
XPinvestment - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2024
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://xpinvestment.com
Founded: 2023
Regulations: No License
Languages: English, Russian, Estonian, Italian, German, Polish
Deposit Methods: QIWI, Cryptocurrencies, Credit Cards, Debit Cards
Minimum Deposit: $50
Free Demo Account: Not Available
Number of Assets: 2100+ Instruments
Types of Assets: Forex, Indices, Stock CFDs, Commodities, ETF CFDs, Cryptocurrency CFDs
Trading Accounts and Conditions
XPinvestment offers their clients the following types of trading accounts:
- Basic: The leverage is 1:100.
- Silver: The leverage is 1:100.
- Gold: The leverage is 1:200. Spreads are 30%. Swaps are 20%.
- VIP: The leverage is 1:200. Swaps are 50%. Spreads are 60%. Insider trades are allowed 3 times a week.
The minimum deposit seems to be $50, but the specifics per trading account are not mentioned.
XPinvestment – Advantages
There are no advantages to trading with XPinvestment.
XPinvestment – Disadvantages
Listed below are all the disadvantages that tell us that XPinvestment is not a broker that you can trust:
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Lack of Regulation
XPinvestment claims to be registered in Australia and that they provide forex services to countries across the world, including the US and Europe. The broker does not give us any address in Australia. However, in their Terms and Conditions, the broker gives us a partial address which, when we checked, turned out to be in the UK. In contrast, the broker gives us yet another address in the UK, this time based in London. The phone number provided is from the UK.
However, this broker does not mention their regulation details anywhere on their website. To give XPinvestment the benefit of the doubt, we went ahead and checked for ourselves whether this broker was regulated. Based on the information provided on their website, this broker is based in the UK, and therefore should be regulated by the Financial Conduct Authority.
We checked the FCA’s website which gives us access to their online database. We found out that this broker is not regulated at all by the FCA; there is no record of XPinvestment with this authority.
Since there is no other information provided, we can confidently say that XPinvestment is not regulated at all, and therefore a scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Blacklisted by BaFin
While checking on XPinvestment’s regulation status, we found out that there has been a warning issued against this broker by the BaFin. The BaFin, or the Federal Financial Supervisory Authority (Bundesanstalt für Finanzienstleistungsaufsicht – BaFin), is the German financial authority and one of the most respected in the world.
According to the warning against XPinvestment, the BaFin claims that this broker is operating in Germany without authorization and that dealing with them would be dangerous.
Such a warning is adequate proof that we are dealing with a scammer.
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Poor Trading Platform
On their website, XPinvestment repeatedly claims to offer their clients a world-class trading platform. However, this broker has not provided any demo account where we could check what kind of trading platform they have on offer. And this is a red flag. Regulated brokers offer their clients a free demo account which shows you how their trading platform works – but in a safe environment, not a live market. The fact that this broker has no free demo account to offer is the first black mark against them.
As part of our review mechanism, we register for an account with all brokers we review. This allows us access to their live platform so that we check for ourselves whether that broker’s claims are true or not. So, we registered for an account with XPinvestment. We found out that the trading platform they have to offer is not even close to being world-class. In fact, it is a shabby, web-based trading platform that doesn’t do much more that allow you to buy and sell a limited number of assets.
Such a poor-quality platform is another sign that we are dealing with a scammer. No legitimate broker would compromise on the quality their one product offering in this way.
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Issues with Trading Conditions
We also need to point out that if a broker has issues with their trading conditions, then we know that we are dealing with a scammer. The trading conditions are as important as a broker’s trading platform; both of these offerings have to be top-quality. If even one of them has any issues, then you know that you are dealing with an untrustworthy broker.
With XPinvestment, we find that there is incomplete information provided about their trading conditions. We only know that the minimum deposit is $50. And that the maximum leverage is 1:500. Beyond that, no information is provided about other trading conditions.
This lack of information on a key aspect of their offering is a huge red flag that tells us that this broker is not to be trusted.
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Issues with Payments
We also have issues with this broker’s payment policy. We are not given clear information on what types of payment methods are available. The broker claims to offer more than 20 payment systems, but does not mention what they are. When we checked their payment portal, we found out that they offer three options – QIWI, Bank Cards (credit and debit cards), and cryptocurrencies.
We need to warn traders that such brokers end up offering only one payment method – cryptocurrencies. And this is because crypto payments are untraceable and cannot be reversed. Perfect for scammers. So, if you find that your broker is only allowing you to make crypto payments it would be best to stay away from them.
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Issues with Withdrawal Policy
We also know nothing of their withdrawal policy. We are not told what the minimum or maximum withdrawal amounts are. Or if there is a fee for withdrawals, or even conditions (such as a minimum trading turnover requirement) for withdrawals.
Conclusion
XPinvestment is a scammer and it would be wise to avoid them completely.
XPinvestment
Pros
- None
Cons
- Lack of Regulation
- Blacklisted by BaFin
- Poor Trading Platform
- Issues with Trading Conditions
- Issues with Payments
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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