Judging from the first look at Xnvest.com, one may see that the site lists several phone numbers to supposed offices in Canada, the UK, and Belgium. This is an irrelevant detail in proving that the company actually exists.
Nowhere does it explicitly say which company is behind Xnvest. Furthermore, there’s no mention of the license or regulation. Trusted and reliable brokerage companies are all under strict jurisdictional regulations.
They are obligated to provide full transparency and disclose the relevant information about their business. Only the non-regulated shady broker firms remain anonymous like this.
|Address||Canada, UK, Belgium|
|Phone||+442033704003 +32460216995 +12268075211 +15489005350|
|Warning||Blacklisted by AMF (France)|
Xnvest’s Broker Regulation and Safety of Funds
With the site offering shallow information and untrustworthy documents for preview, there’s no doubt that this easily raises suspicion in a potential investor.
Since there is no confirmation from the site that this broker firm is regulated, there’s another way to check this.
Simply examine the database of the jurisdictional regulator and everything will become clear. And that is: this brokerage company is not regulated!
Naturally, we can conclude that the funds cannot ever be safer with a shady broker, so think twice before investing on this site. If the funds will just be swept away by a scammer it is better not to invest at all.
Trading Software at Xnvest
Trading software is a useful tool that fraudulent brokers use in order to delude customers into thinking that their funds are growing.
It is no different with this scammer, who uses an overly simplified and laughably bad trading platform.
If it is a trading platform at all because from the first glance anyone can see that traders have basically little to nothing to do there.
You are given a simple chart showing some movement but nothing proves that these are your funds and that you’re actually trading.
Be conscious and meticulous enough when it comes to trading platforms and do not allow unauthorized traders to fool you.
Warning on Desktop Applications like AnyDesk and Teamviewer
Here is where extreme caution is advised. If a distrustful site is offering you customer support or contact with trading professionals via AnyDesk or TeamViewer, do not under any condition install these to connect with them!
The sole goal of this scammer method is to get access to your device and steal your personal information such as credit card info and other things needed to rob you.
Xnvest Deposit and Withdrawal Procedures
The minimum deposit required is $250. This is a lot more than what licensed online traders will ask from potential clients.
Top-tier forex brokers ask for as little as $5 to allow you to start trading. Besides that, many have the option of starting with virtual sum to learn easier about the trading process.
The only way of depositing is accepted by BTC. So once you invest, there is no going back and your hard-earned money is lost.
The most concerning fact about the withdrawal procedure with Xnvest is that they scarily clearly state that non-deposited funds cannot be withdrawn. This means that in case you make more money than what you have deposited, you cannot withdraw it.
This is no surprise. You most probably won’t be able to withdraw what you have deposited in the first place anyway and the trading platform is a gimmick.
Xnvest Trading Account Available
Trading accounts options available at Xnvest are the following:
- Apprentice Account: $250 – 10k
- Intermediate Account: $10k – 50k
- Superior Account: $50k – 250k
- Distinguished Account: $250k+
- VIP Account: Invitation Only
Supposedly designed to meet the investing preferences of different clients, these accounts are offering various services and tools to help the trader achieve success easily and fast.
These offers look appealing to interested investors and might sometimes even trick them to invest.
Don’t be fooled, though, a fraudulent broker has absolutely no intention of helping you earn.
Here’s How They Execute The Scam
Besides a professional-looking website and various services offered, scammers and other illegal brokers appear as trading experts.
Promises of earning big and fast are their tool to convince an unsuspecting victim to invest as soon as possible.
Every trading activity online comes with a certain risk. However, trading with a fake broker means a certain loss.
By using every conceivable method known, you will be tricked into believing the promises of earning hundreds or more dollars daily, just to invest.
Usually, after it’s too late, a scam victim might ask for a withdrawal. By then, the funds will already be in the scammer’s pocket.
Being completely anonymous, they can disappear with stolen funds and proceed with their scamming scheme.
Forex Brokers That Are Highly Recommended
If you are still having doubts about who would be the best broker company to choose, please refer to the table below. It offers some basic information about the most dominant brokerage companies that can be trusted, has the highest ratings, and have the biggest number of users.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||Xm.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||Hfm.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||Fbs.com|
The purpose of this review was to pass on the information about a shady brokerage company that Xnvest is, all in hope that it helps someone not to get scammed.
As a reader and a potential investor looking for a reliable online trading site, please read as many reviews as you find before picking your broker.
Last but not least, there’s no shame in falling victim to a scam. As long as you contact the authorities for help and spread the right information to help protect the next potential victim.
FAQs About Xnvest Broker
What Is The Xnvest Minimum Deposit Amount?
The minimum deposit amount on Xnvest is $250 for the Apprentice account.
What Are The Trading Instruments Available at Xnvest?
Trading instruments available on this site are currencies, indices, stocks, crypto, and commodities.
What Account Types Does Xnvest Offer?
There are several account types available: Apprentice Account: 250 – 10k, Intermediate Account: 10k – 50k, Superior Account: 50k – 250k, Distinguished Account: 250k+, VIP Account: Invitation Only.