Reading Time: 4 minutes Scam Broker Reviews

Trade XN Review 2023 – The Truth About Broker

Trade XN Review

Everything about Trade XN broker screams scam. The company claims it doesn’t need to be authorized to provide financial services, while there is plenty of mismatching information regarding initial deposits, leverage, and other trading terms.

All this assures us that we’re facing another offshore con artist. To protect yourself and your funds, continue reading our detailed Trade XN review.

And first, read our reviews of Target Trading, Mondial Investments LTD, and iTrader. They are putting your money at risk!

Broker Status:Offshore Scam Broker
Broker Regulation:Unlicensed Forex Provider / No Regulation
Operating Status:Active Forex Trading Scam
Blacklisted as a Scam by:N/A
Broker Owner:XN Technologies Limited
Headquarters Country:Seychelles
Foundation Year:N/A
Trading Platforms:WebTrader
Mobile Trading:N/A
Minimum Deposit:25 USD
Deposit Bonus:Available
Crypto Trading:Available – BTC, BCH, LTC
CFD Trading:Yes, you can trade CFDs
Trading Instruments:Forex, commodities, indices, crypto
Maximum Leverage:1:500
Islamic Account:Available
Demo Account:No, only live trading accounts
Accepts US Clients:US traders are accepted
Global Fraud Protection Team:Don’t Invest in This Scam Broker!

Is Trade XN a Scam Without a Trading License?

Trade XN claims to be a brand of XN Technologies Limited, based in Seychelles. The company also says it’s not required to hold any licenses for conducting trading business.

This is simply untrue since Seychelles does have a financial authority – FSA. Additionally, the brokerage says to be present in Malaysia, Singapore, Myanmar, Japan, Chile, Australia, and the UAE.

Upon checking the Financial Services Authority register, we couldn’t find Trade XN regulation. The same happened with Tier 1 databases, such as JFSA, ASIC, and DFSA, in which jurisdictions the company allegedly has offices. Simply put, Trade XN believes it’s above the law and doesn’t need to comply with the monetary regimes of any country.

Furthermore, the brokerage house offers leverage of up to 1:400 or 1:500, depending on which part of the website you review. However, in the UK and Europe, leverage is limited to 1:30 for retail traders, while in the US the limit is slightly higher and goes to 1:50. Hence, Trade XN has illicit offers regardless of the destination.

If you have any information about this fraudulent website and its operators, don’t hesitate to share it.

Where Do Trade XN Scam Victims Live?

While still not on the regulatory radar, Trade XN definitely defrauded many. The company mainly operates in:

  • US
  • UK
  • Canada
  • South Africa

According to the GoDaddy WHOIS database, the site has been active since the 3rd of August, 2006. However, we highly doubt this was when the brokerage house started onboarding residents. In fact, we believe they purchased a ready-made domain and started running their scheme.

What’s more, please exclude CryptoFXPro, EuropeMarket and Stellarfx from your list of potential platforms to trade. It will save your money, nerves and time!

Trade XN WebTrader Platform

Trade XN Trading Platform Interface

On their main page, the Trade XN trading platform is advertised as “designed for traders looking for an edge in their trading.” In the FAQ section, the company says it offers WebTrader and mobile apps depending on availability.

However, we were unable to register an account as it was pending approval. Hence, we cannot provide further details regarding the trading software and its quality. Whatever this browser-based platform may be, it cannot come close to what you’d get with reputable third-party software such as MT4, MT5, or cTrader. 

Since the mobile app depends on “availability,” and no links are provided, we’re unsure whether there is an Android or iOS app and of what caliber.

What Can I Trade With a Broker?

The company advertises the following tradable assets:

  • Currency pairs (Forex Market) such as EUR/USD, GBP/NOK, AUD/SEK
  • Commodities – gold, silver, crude oil
  • Indices – AU 200, NIKKEI 225, DAX 30
  • Cryptocurrencies – USDT, USDC, LTC

Shares are not mentioned. It’s important to note that without platform access, we cannot verify the truthiness of this offer.

Trade XN Fees and Spreads

The FAQ section says that the spread starts with 1.6 pips, and there are no other trading commissions. This sounds quite alright if it were true. Yet, without platform access, we’re unsure if it’s another bait or a legit offer.

Is Trade XN Demo Account Available?

We were unable to find any Live Trade XN account types. In one web section, the company claims it doesn’t have a requirement for a minimum deposit. The FAQ, however, stated it’s necessary to deposit at least $25.

While the amount is not big, it’d be convenient to have Trade XN Demo. Then, you’d be able to review WebTrader and confirm the offer and trading costs. But again, Trade XN doesn’t care about their client’s well-being, only about extorting as much money as possible.

How to Withdraw Your Profit From a Trade XN Account?

Trade XN Withdraw

Trade XN withdrawal policy states that customers must withdraw the money using the same payment method as for the deposit. However, we only see bank transfers as a viable option. For other methods, the company says they depend on the country you come from.

Once you submit a request, it will be processed within the same day if your account is in USD or within two business days for other currencies. Additionally, if you wish to withdraw less than $1,000, you’ll have to pay a fee of $30, while for amounts less than 800 EUR, this fee is 16 EUR.

Since we’ve seen lots of criticism amid withdrawal issues, there’s a big question if you’ll be able to get your money back without a hard legal battle.

I Was a Victim of the Trade XN Scam, Can I Get a Refund?

Suppose you trusted Trade XN that they don’t need a trading regulation and invested your funds. Now you wish to withdraw them, but the broker doesn’t approve your request.

Don’t worry; we’ve heard this story many times before. Global Fraud Protection chargeback experts have all the right tools and knowledge to help you with a refund.

Book your free consultation today and let us evaluate your case and find the best recovery method for you. 

Don’t let scammers win! We are here for you!

All In All, Don’t Let the Scammers Get Away for Free!

FAQ Section:

Is Trade XN a Legit Broker, and Should I Invest In It?

Trade XN is not a legit trading brokerage. In case you were scammed by this financial swindler, feel free to notify our team and ask for help with fund recovery.

Does Trade XN Offer a Demo Account?

Trade XN broker doesn’t offer a Demo account and has no dedicated live account type.

Is Trade XN a MetaTrader 4 Forex Broker?

According to its website, Trade XN broker offers only a web-based trading platform.