XPTraders (xptraders.com) has been flagged by ASIC (Australia) for "Unlicensed". International Regulator warning (Quebec) https://lautorite.qc.ca/en/general-public/media-centre/investor-warnings/investor-warnings-sheet/xp-traders
Phones: +442046000675
Addresses: Hill Street W1J 4NQ London United Kingdom This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: xptraders.com.
XPTraders (xptraders.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: Low minimum deposit|Good mobile app|Easy to use platform|Quick verification
Cons: Mobile app could be improved|Inactivity fee applies after 12 months
XPTraders (xptraders.com) has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Automated trading options|Reliable uptime
Cons: Live chat only during business hours
Customer support at XPTraders (xptraders.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: Easy withdrawals|Excellent charting|Clear documentation|Fast execution
Cons: Research section could be deeper|Minimum deposit could be lower
XPTraders (xptraders.com) locked my account without warning and demanded documents I had already submitted. for about three months later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Real-time alerts|Regular platform improvements|Market news feed
Cons: No fractional shares|Limited demo account features
Do not use XPTraders (xptraders.com) for anything serious. I used them for about ten 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: Multi-device support|Social trading features|Segregated accounts|Dedicated account manager
Cons: Nothing significant
XPTraders (xptraders.com) had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Instant funding|Easy to use platform|Customizable dashboard
Cons: Limited social trading features
I had high hopes for XPTraders (xptraders.com) through a podcast recommendation, 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: Fast execution|Easy to use platform
Cons: Minimum deposit could be lower|Minor UI glitches occasionally
I gave XPTraders (xptraders.com) a fair chance. After for close to eighteen 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: Multi-currency support|Wide product range|Risk management tools
Cons: Limited ETF selection