Xpaydex 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 Xpaydex 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.
Cons: Not registered with regulators|Unrealistic promises
Do not believe the bonus offer from Xpaydex. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited from a blog post comparing services and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Market news feed|Wide product range
Cons: Desktop app not available on Linux|Nothing significant
If you are reading this considering Xpaydex - run. I wish I had read more negative reviews after a family member had a good experience. I thought the positive ones were real. Maybe some are. My experience over for a couple of months now has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Copy trading available|Easy withdrawals
Cons: Slow to add new assets|No live chat on mobile
Opened my account with Xpaydex after comparing multiple platforms and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Tax reports included|Demo account available|Portfolio tracking tools|Clear documentation
Cons: Mobile app could be improved|Wish they had more educational resources
The platform itself is okay, but the customer service at Xpaydex 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|Intuitive for beginners
Cons: Wait times can be long during peak hours|Onboarding videos are outdated
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. Xpaydex said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Good analytical tools|Competitive fees
Cons: Nothing significant
Do not be fooled by the professional-looking website. Behind the scenes, Xpaydex is disorganized and incompetent. I found them after my brother mentioned them and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: API access|Fast execution|Real-time alerts
Cons: Could offer more webinars|Limited cryptocurrency options
Xpaydex 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: Good mobile app|Excellent charting|Demo account available
Cons: Would like more payment methods
Xpaydex 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: Automated trading options|Quick verification
Cons: Minimum deposit could be lower
I was contacted by Xpaydex 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.
Cons: Lost entire investment|Reported to authorities|Unresponsive