This broker is a scam artist. They did unauthorised closing of my sell trades and a result my buy trades became stop out. My account became empty right away.
To all new future traders beware of this broker. Avoid this scam artist!!!
Owned and operated by Trading Point of Financial Instruments Ltd, which is a European Union-regulated broker and a registered Cyprus Investment Firm (CIF), XEMarkets
Provides its services according to the strict financial standards prescribed by its chief regulator, the Cyprus Securities and Exchange Commission (CySEC), where it is registered under the license number 120/10;
Is authorized by the Financial Services Authority (FSA) UK (licensed under 538324)
Has full EU-authorization, including
BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht), Germany, under registration number 124161,
CNMV (Comisión Nacional del Mercado de Valores), Spain, under registration number 2010157773,
AFM (Autoriteit Financiële Markten), Netherlands,
FI (Finansinspektionen), Sweden,
FIN (Finanssivalvonta Finansinspektionen), Finland;
Embraces the investor protection measures described by the Markets of Financial Instruments Directive (MiFID);
Adopts clear procedures to categorize clients and assess their investment suitability for the sake of risk management;
Follows a best execution policy for executing trading orders on terms most favorable to clients;
Ensures trading transparency for its financial instruments by providing detailed information about trading conditions;
Collaborates with multiple liquidity providers to offer the best spreads and liquidity at all times;
Follows a no re-quotes and no extra commissions policy that could negatively affect clients’ investments;
Complies with the Markets in Financial Instruments Directive (2004/39/EC) for the prevention and suppression of money laundering and terrorist financing.
In the financial industry, the most essential requirement is the safety of clients’ funds. This is the reason why XEMarkets follows strict rules to safeguard clients’ interests as it
Keeps clients’ funds segregated from our company funds, in tier 1 banking institutions and ensures that these cannot be used either by us or by our liquidity providers under any circumstances;
Keeps clients’ funds in highly secure global banks with lowest credit risk;
Ensures high operation standards by submitting regular financial reports to CySEC and to the company’s financial auditor, KPMG;
Provides retail clients with additional protection through the Investor Compensation Fund in the case of company insolvency;
Uses an automated system for monitoring funds transactions and risk management for the sake of no negative balance, and thus protects clients from any losses bigger than their original investments;
Applies multiple transaction methods for funds withdrawals and deposits that guarantee transfer security and clients’ privacy through Secure Socket Layer (SSL) technology.