Xedex has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Xedex has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Pros: Website looks legitimate on the surface
Cons: Unauthorized firm|Found in IOSCO warnings database
KYC with Xedex is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Segregated accounts|Customizable dashboard|Educational resources
Cons: Limited social trading features|Onboarding videos are outdated
Xedex changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Risk management tools|API access
Cons: Desktop app not available on Linux
I opened an account with Xedex for about five months ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Low minimum deposit|Quick verification|Reliable uptime
Cons: Spreads widen during volatile periods
I had high hopes for Xedex after reading several online reviews, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Social trading features|Fast support response
Cons: Spreads widen during volatile periods
I gave Xedex a fair chance. After for the past six months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Personal attention|Segregated accounts
Cons: Could offer more webinars|No fractional shares
I was contacted by Xedex through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Pros: Initially responsive customer service
Cons: Blocked my account|No legitimate license|Fake returns
After using Xedex since early this year, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Educational resources|Portfolio tracking tools
Cons: Would like more payment methods|Alert system is basic