Broker XP Review
Reason to avoid: Offshore license
Listed Date: May 28, 2018
Top 3 Forex Brokers
Beware Broker XP is a Non-Regulated broker. It is NOT SAFE to trade.
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- Broker XP User Reviews
- Broker XP News
Is Broker XP Scam or Legit Broker?
It is not safe to trade with Broker XP, because it is an unregulated broker. In addition, the company has been suspected to be a fraud. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.
About Broker XP
| 🗺️ Registered in | Marshall Islands |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is Broker XP safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | GO Markets - licensed by ASIC in Australia |
What is Broker XP?
Broker XP is owned by Avant Marketing Limited. It is an offshore forex broker registered in the Marshall Islands with a Banking Commission of Marshall Islands license. There is another license the firm carries - M&A Mergers and Acquisitions Consultancy LP (Edinburgh, Scotland), but there are no records that it's authorized in the UK.
Dealing with a broker which has a Marshall Islands license is risky as it only takes $2,000 to get one. Comparing the license from UK's Financial Conduct Authority, which costs $50,000, and also $100,000 of capital is needed aside from client deposits.
Broker XP Review Conclusion
Based on our research Broker XP is not a safe and reliable broker due to its unregulated nature and operation in the offshore zone only.
Broker XP Update
With our finding, Broker XP is no longer active, and the website is unavailable to reach also there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations that may guarantee money safety. Traders are better recommended to trade with well-regulated brokers such as brokers in Australia and reliable brokers such as BlackBull Markets.
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They are clever. They pretend to be investing your money wisely, but they aren’t. It may seem like you are making a profit, but try and withdraw it. You’ll probably not get a penny. I lost nearly £14,000 which, as soon as I showed suspicions, they cleared my 2 accounts. There was no reason, no proof of losses, no official trading documentation, no mention of now they take comission. They make money by taking your money.
Warning. I lost 50.000 €. I had €40.000 in my account and asked for refund. They traded loosing trades and in 1 hour all the 40.000 were gone. I had 7 different Broker and all of them took my money.
I documented all the calls and scype communication and gave it now to my lawyer.
Stay away from Broker XP and save your money. It is a big scam. I am left with a credit card debt of R30K, after being promised huge profits.
The broker deliberately trading loosing trades, until all was lost.
Stay away!
Hi i have lost all my saving and the broker opened losing trades so all my money are lost becouse I didn’t put more money in. Tina lynn the broker opened trades that lost my money and if you contact them you are being ignored. So I wouldn’t rekomend then I have lost R 22000
I invested $250 with this BrokerXP I have read the reviews. Most people say they have had good experience with Broke KP. Other have not. Pity I did not know about your Review on Brokers before I invested money with them. To date my account is doing well now. Will it be worth it in the long run I don`t know for sure, have to wait and see. Trading can be a miss and hit. If it keeps going as it is now maybe I made the right move or maybe not only time will tell.
Thank you for your reviews. If I do invest with any other broker again I will check your reviews before invest. I like the list of Brokers To Avoid.
Thank you once again.
Fred
Had a good experience at the start, then lost 4k during the oil crash so i was very disappointed. however i was placed in a recovery program which recovered my funds in 5 weeks, so overall i am satisfied. but it is a bit scary of how the market moves sometimes, so you need to have nerves of steel at some parts of the time.
Ive traded with a fair share of brokerages, this one is the most newcomer friendly.
Easy to use, profitable and nice customer support.
Just dont expect to make 100% return in your first week like I did, but it’s better than keeping the money in lloyds bank.
BROKER XP SCAM BIG BIG SCAM
DON’T INVEST, THEY TALK FOR HOURS TO CONVINCE YOU, WITH LOUD BACKGROUND NOISE, SAME AS IN THE MOVIES, START WITH 250 AND BEFORE THEY START THEY ASK FOR MORE AND MORE ACCORDING TO HOW MUCH YOU CAN SPARE, i HAVE INVESTED 250 AND STOPPED ANSWERING THE PHONE BECAUSE I REALIZED MY MISTAKE, AND FORGOT ABOUT THE 250 AS TO BE A LESSON NOT TO TRUST PEOPLE SPECIALLY ADVERTISERS AND SALES MEN WHO HIDE BEHIND THE PHONE
Was never really into bitcoin and all this bs but this investment paid off half of my new car loan, been trading for roughly about 8 months and it’s not always wins but in the long shot ive made profits, as a retired uk expat it’s definitely helping me out
Best company which I ever worked so far.Constantly making about 2000-3000 pounds per month.
Dedicated team and all win win.I’m amazed that there a lot of bad reviews out there but it seems when its come about your money better is to make your own due diligence in matter do you or not will pick up BrokerXP as your trading partner.