XST 7 has been flagged by Comisión Nacional del Mercado de Valores for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I wanted to transfer my portfolio from another broker to XST 7. 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: Multi-device support|Fast support response|Multiple order types|API access
Cons: Desktop app not available on Linux|Charting tools need more indicators
If you are reading this considering XST 7 - run. I wish I had read more negative reviews after hearing about them at a conference. I thought the positive ones were real. Maybe some are. My experience over for a few weeks now has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Segregated accounts|Helpful community forum|Good mobile app|Smooth onboarding
Cons: Minimum deposit could be lower|Limited demo account features
I was about to invest with XST 7 but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Comisión Nacional del Mercado de Valores has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Pros: Website looks legitimate on the surface
Cons: Flagged by Comisión Nacional del Mercado de Valores|Cannot verify credentials
The onboarding at XST 7 was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Copy trading available|Real-time alerts
Cons: Mobile app could be improved|Email notifications too frequent
The only good thing about XST 7 is that they remind you why regulation matters. I found them through a forum discussion. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Regular updates|Segregated accounts|Copy trading available|Regular platform improvements
Cons: Minor UI glitches occasionally