Xenith FX (xenithfx.com) has been flagged by ASIC (Australia) for "Unlicensed". Phones: 494895984
Addresses: No 20 Nomands Str London England This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: xenithfx.com.
Xenith FX (xenithfx.com) 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: Professional team|Multi-currency support
Cons: Search feature is basic
I have been trying to close my account with Xenith FX (xenithfx.com) for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Good analytical tools|Multi-currency support|Fast execution|Good mobile app
Cons: Charting tools need more indicators|No phone support on weekends
Customer support at Xenith FX (xenithfx.com) seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Tax reports included|Stable platform|Real-time alerts
Cons: No integrated tax optimization|Charting tools need more indicators
I opened an account with Xenith FX (xenithfx.com) for over three years 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: Helpful community forum|Automated trading options
Cons: Cannot customize dashboard fully
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. Xenith FX (xenithfx.com) said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Good mobile app|Clean UI|Automated trading options|Intuitive for beginners
Cons: Would like more payment methods|Currency conversion fee exists
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Xenith FX (xenithfx.com) recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Full transparency|Customizable dashboard
Cons: Nothing significant|Currency conversion fee exists
Xenith FX (xenithfx.com) seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Educational resources|Clean UI
Cons: Limited social trading features|Would like more payment methods
I wanted to transfer my portfolio from another broker to Xenith FX (xenithfx.com). 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: Regular updates|Wide product range|Personal attention|Fast execution
Cons: Inactivity fee applies after 12 months|Some tools only available on higher tiers
My card was charged twice by Xenith FX (xenithfx.com) on the same day. I had to dispute it with my bank. Xenith FX (xenithfx.com) then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Portfolio tracking tools|Regular updates|Multiple order types|Customizable dashboard
Cons: Minimum deposit could be lower
I am in a dispute with Xenith FX (xenithfx.com) over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Risk management tools|Copy trading available|Demo account available
Cons: Live chat only during business hours|Slow to add new assets