Xpoken is a brokerage company that has recently emerged in the market and started to attract users’ attention on the internet. We conducted a thorough analysis of Xpoken’s activities, studying available documents and reviews about the broker to determine its reliability and assess the feasibility of opening an account with this intermediary.
Xpoken Company Overview
The official Xpoken website supports multiple languages, and the information on it indicates the company’s presence in more than 80 countries worldwide. However, site statistics show that the visitation of xpoken.com is less than a hundred users per day, which does not correspond to the claimed coverage.
Registration data for Xpoken LTD indicates that the company was registered only in April 2021, meaning a relatively recent start of the intermediary’s activities. Reviews about the company mostly date back to November-December of last year, indicating the instability of the company’s operations.
Xpoken Licenses Information
Registration of Xpoken in Saint Vincent and the Grenadines excludes the possibility of obtaining a license from the local regulator, raising doubts about the quality of services provided by the company.
In Russia, the activities of forex brokers are regulated by the Central Bank, and Xpoken does not have a license to provide such services, raising questions about the legality and reliability of the company.
Xpoken Offered Services and Tools
The company offers users a choice between various types of accounts with different minimum deposits and a standard set of trading assets, such as currency pairs, stocks, indices, commodities, and cryptocurrencies.
However, it is necessary to be cautious, as dubious promises of low spreads and instant trade execution may be false. The XpTrade platform used for trading should be further examined by users before making investment decisions.
Xpoken Reviews and Performance Evaluation
Reviews of Xpoken vary in nature, but overall negative comments and warnings about working with the intermediary are prevalent online. It is important to pay attention to real user reviews to form an objective opinion about the company.
Xpoken Fraud Methods
There is evidence that Xpoken may engage in fraudulent activities, attracting clients through dishonest means. Personal managers may influence traders’ actions, leading to fund losses and client dissatisfaction.
Conclusion on Xpoken
Overall, Xpoken raises doubts about its honesty and reliability. Registration in offshore locations, lack of licenses, and negative client reviews indicate risks associated with working with this company. It is recommended to exercise caution and conduct additional research before deciding to collaborate with Xpoken.
I had a highly disappointing experience with Xpoken as a broker. The service they provided was far from satisfactory, I had to deal with late replies and delayed processing times which proved to be a big inconvenience. Customer support was also underwhelming and seemed untrained. They provided little to no help when it came to technical issues and didn’t seem to have adequate knowledge about their services. The unreliable nature of the platform is also a major concern, there were several occasions of system crashes during my transactions. It’s clear to me that Xpoken lacks stability and reliability, I would not recommend their services.