Is XLR Trade a scam or a legit broker?

XLR Trade is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

About XLR Trade
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is XLR Trade safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is XLR Trade?

XLR Trade is a trading name used by Nostro Technology Ltd, an online trading company established in the UK. Yet, until now, the company is not registered by any regulatory agency or authority, even though, almost every financial service company in the UK should obtain an FCA license to deliver its services.

  • XLR believes the trading experience should be a journey of learning and understanding the market, while the broker states its mission to protect and guide clients every day through their trading experience. The XLR trader has a choice of a diversified portfolio with 200 currencies, commodities, indices, stocks, and CFDs while the broker doesn’t disclose its operational standards and trustability. 
  • Moreover, the Italian regulatory authority CONSOB listed an XLR Trade as a trading scam and generally advises Italian and world investors to check the broker’s status before the deposit of any funds with a particular company. The blacklisting of the XLR Trade was caused by a lack of the appropriate license and authorization to deliver its service since the mission of CONSOB is to ensure the transparency and trusted behavior of the participants. As the XLR Trade is registered to none the company appears to have issues with its services which may be unreliable.

“The company Nostro Technology Ou is not authorized to provide investment services and activities in Italy by any means. Therefore, also including the offering through the websites and”

CONSOB, February 2018

  • Overall, while trading with the non-regulated broker the trader involves himself in a very high risk, as the funds are simply not secured. There are many fraud companies in the industry, while the mission of regulation is to protect the clients, therefore basically we advise trading only with CONSOB Regulated Brokers or others that comply with international standards.

XLR Trade Review

XLR Trade Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and Eightcap.

XLR Trade Update

Our research showed that the XLR Trade website is unavailable to reach. Besides, 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.

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