Xaindex has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: xaindex.ai.
The mobile app from Xaindex is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Great customer service|API access|Automated trading options|Segregated accounts
Cons: Inactivity fee applies after 12 months
I trusted Xaindex with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: Educational resources|Easy to use platform|Regular platform improvements
Cons: Nothing significant|No phone support on weekends
I wanted to transfer my portfolio from another broker to Xaindex. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Competitive fees|Fast execution|Multiple order types
Cons: Website design could be more modern|Minimum deposit could be lower
Do not use Xaindex for anything serious. I used them for about five months for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Comprehensive tools|Economic calendar|Full transparency
Cons: Email notifications too frequent|Inactivity fee applies after 12 months
Xaindex advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: High security standards|Copy trading available|Multi-device support
Cons: No phone support on weekends
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Xaindex said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Dividend tracking|Market news feed|Good analytical tools|Helpful community forum
Cons: Mobile app could be improved
After spending since I opened my account last year trying to make Xaindex work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Fast execution|Responsive team|Demo account available|High security standards
Cons: Inactivity fee applies after 12 months
I referred a friend to Xaindex through a financial advisor. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Low minimum deposit|Easy to use platform
Cons: Help articles are sometimes vague