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Score

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/10

BrokerXP

Lithuania|5-10 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.brokerxp.com

Website

Rating Index

Influence

Influence

D

Influence index NO.1

Albania 2.43

Surpassed 100.00% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 208 0682 624
support@brokerxp.com
https://www.brokerxp.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

Single Core

1G

40G

Open Now

Contact number

English

+44 208 0682 624

Broker Information

More

Company Name

BrokerXP

Company Abbreviation

BrokerXP

Platform registered country and region

Lithuania

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away!
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

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BrokerXP · Company Summary

General Information & Regulation

BrokerXP, owned and operated by Mergers and Acquisitions Consultancy LP, based in Edinburgh, is an online Forex and CFD broker not currently subject to any active regulation.

Market Instruments

BrokerXP offers investors a wide range of CFDs, including CFDs on indices, commodities, stocks, and a range of cryptocurrencies, in addition to a large selection of Forex currency pairs.

Minimum Deposit

BrokerXP only offers investors a standard account , with a minimum deposit of $500. BrokerXP requires $500 as a start, apparently higher than many other brokers, as they only requires $100-$200 to open an account.

BrokerXP Leverage

In terms of forex trading, the maximum leverage level offered by BrokerXP is up to 1:200. Since margin trading is full of risk, so inexperienced traders are not advised to use too high trading leverage.

Spreads & Commissions

The EURUSD spread on BrokerXP's standard account is fixed at 3 pips, much higher than the industry standard. Most regular dealers offer spreads between 1.1 and 1.5 pips on EURUSD.

Trading Platforms

BrokerXP offers investors the most popular trading platform available today, MT4, the leader in Forex trading, with powerful charting tools, a large number of custom indicators, supporting for automated trading, and EA trading for traders of all levels.

Deposit & Withdrawal

BrokerXP supports traders via credit/debit cards, while other information on deposit and withdrawal methods is not fully disclosed.

BrokerXP Pros & Cons

Brokerxp advantages Inlcude:

1. Islamic accounts Available

2. A wealth of educational resources

Brokerxp disadvantages Include:

1. Offshore brokerage & no regulation

2. High minimum deposit requirements for accounts

3. High spreads

4. Demo accounts not offered on MT4

5. A large number of negative comments

News

WikiFX report: A bit late! German BaFin investigates BrokerXP scam

NewsWikiFX report: A bit late! German BaFin investigates BrokerXP scam

2022-04-22 14:53

The German financial market regulator BaFin announced on Sept. 7, 2021, that it is investigating the illegally operating broker BrokerXP (www.brokerxp.com).

WikiFX
2022-04-22 14:53
News
WikiFX report: A bit late! German BaFin investigates BrokerXP scam

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