Xtrade

Regulatory & Licensing Information:

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  • Regulatory Authorities:
    • Cyprus Securities and Exchange Commission (CySEC)
    • International Financial Services Commission (IFSC)
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  • License Numbers:
    • CySEC: 108/10
    • IFSC: 000281/20
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  • Status: Active
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Verification:

• Broker's Claims: Xtrade asserts that it is authorized and regulated by CySEC in Europe and complies with IFSC regulations for its international services.
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• Verified Information: Independent reviews confirm Xtrade's regulatory status with these authorities. However, it's important to note that the IFSC is considered an offshore regulator, which may not provide the same level of oversight as top-tier regulatory authorities.
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Regulatory Warnings:

• Issuing Body: BrokersVisionary
• Date of Warning: November 2024
• Details: BrokerChooser notes that Xtrade is not regulated by a top-tier regulator, advising caution due to the varying degrees of investor protection offered by different regulatory bodies.

Client Feedback

User reviews on  other platforms  have raised concerns about Xtrade's legitimacy, with some users labeling it as a scam. The lack of regulatory licenses and transparency in services has been highlighted as indicative of potential fraudulent activity.