Xelon 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.
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. Xelon said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Regular updates|Full transparency
Cons: Account statements could be more detailed|Charting tools need more indicators
I invested $10,000 with Xelon after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Financial Markets Authority.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive
The platform itself is okay, but the customer service at Xelon is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Automated trading options|Competitive fees
Cons: Nothing significant
I referred a friend to Xelon through my accountant's suggestion. 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: High security standards|Risk management tools|Portfolio tracking tools
Cons: Onboarding videos are outdated|Currency conversion fee exists
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Xelon 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
I had a dispute with Xelon and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Easy withdrawals|Portfolio tracking tools
Cons: Desktop app not available on Linux|Slow to add new assets
For anyone considering Xelon, please be aware that this company has been flagged by Financial Markets Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Appears in regulatory warnings database|Uncertain regulatory status
After for about eight months with Xelon I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Clean UI|Regular updates
Cons: Would like more payment methods|None so far