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XFINANCES

United Kingdom|2-5 years|
High potential risk|

https://xfinances.com/

Website

Rating Index

Contact

+448938906785
contact@xfinances.com
https://xfinances.com/

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

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Warning: Low score, please stay away!
Previous Detection : 2024-10-04
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

XFINANCES · WikiFX Survey

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XFINANCES · Company Summary

Note: XFINANCES is to operate via the website - https://xfinances.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature Detail
Regulation No Regulation
Market Instrument Forex, Stocks, Commodities, Indices and Cryptocurrencies
Account Type Standard, Professional, Micro and Gold
Demo Account yes
Maximum Leverage 1:500
Spread (EUR/USD) 1.6-1.9 pips
Commission N/A
Trading Platform MT4/Web
Minimum Deposit N/A
Deposit & Withdrawal Method credit/debit cards

XFINANCES, a trading name of FINEX GROUP LTD, is allegedly a forex broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and floating spreads from 1.6 pips on the MT4 and web-based trading platforms via four different live account types.

As for regulation, it has been verified that XFINANCES currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.32/10. Please be aware of the risk.

General Information & Regulation

Market Instruments

XFINANCES advertises that it is a broker that advertises trading in Forex, Stocks, Commodities, Indices and Cryptocurrencies.

Account Types

Apart from demo accounts, XFINANCES claims to offer 4 types of trading accounts, each in 2 different currencies - Standard, Professional, Micro and Gold in EUR or USD, but they are not presented on the website.

Leverage

The defaulted leverage provided by XFINANCES is 1:100, but in the client area one can request to change it up to 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

The EUR/USD spread we see with a demo MT4 account of XFINANCES is around 1.6-1.9 pips. This is not excessive, but regulated brokers usually offer around 1-1.2 pips for this most traded currency pair.

Trading Platform Available

The platform available for trading at XFINANCES is one of the most notable and preferred trading platforms the market offers - MetaTrader4 as a Desktop and Mobile (Android and iOS) application, as well as web-based software. The MT4 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

XFINANCES says to provide various payment transaction methods - credit/debit cards, bank transfers, e-wallets, such as Skrill and Neteller, and a digital currency platform Uphold. In the client area, however, we found only the credit/debit cards offered.

There is no information about the minimum deposit or withdrawal amounts.

The deposit and withdrawal fees XFINANCES charges are a little excessive. For credit/debit card deposits it is 3.75% + $0.50, for Neteller – 3-3.5%, for Skrill – 2.5% and for Uphold – $15. Withdrawal fees are $10 for credit cards, $15 for Uphold, €35 for EURO SEPA bank transfers and €50 for Worldwide SWIFT transfers.

Customer Support

XFINANCES customer support can be reached by telephone: +448938906785, email: contact@xfinances.com. Company address: 173 Latchmere Road, London, United Kingdom, SW112JZ.

Pros & Cons

Pros Cons
• Demo accounts available • No regulation
• MT4 supported • Website inaccessible

Frequently Asked Questions (FAQs)

Q 1: Is XFINANCES regulated?
A 1: No. It has been verified that XFINANCES currently has no valid regulation.
Q 2: Does XFINANCES offer demo accounts?
A 2: Yes.
Q 3: Does XFINANCES offer the industry-standard MT4 & MT5?
A 3: Yes. XFINANCES offers the MT4 as a Desktop and Mobile (Android and iOS) application.
Q 4: Does XFINANCES charge a fee?
A 4: Yes. Like every forex broker, XFINANCES charges a spread fee. It also charges some deposit and withdrawal fees, depending on your payment method.
Q 5: Is XFINANCES a good broker for beginners?
A 5: No. XFINANCES is not a good choice for beginners. Although it offers traders risk-free demo accounts as well as the industry-standard MT4 trading platform, it lacks a legitimate regulation and its website currently is inaccessible.

Broker Information

Company Name

FINEX GROUP LTD

Abbreviation

XFINANCES

Regulatory Status

No Regulation

Platform registered country and region

United Kingdom

Company website
Phone of the company
  • +448938906785

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Customer Service Email Address
  • contact@xfinances.com

Company Summary

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