Today, we will talk about one Forex broker that caught our attention recently. Not because it’s a famous one, but because it has a lot of claims and promises that are quite questionable. Let’s start with the first one you can see on the landing page — X Invest guarantees constant passive income thanks to its unique system. Apparently, this broker uses advanced tools that are not available to average users.
You should know one thing, a legitimate Forex broker would never promise you something like that. So, you have to be careful and see every detail and comment before you decide to deposit money somewhere. Of course, we will go through every segment of X Invest and tell you our final thoughts about everything, beginning from the quality of service.
Quality of Service
When it comes to this part, X Invest has some serious claims. According to them, service is what sets them apart from other brokers and that service includes daily income, full control of investment (you will be able to cancel deposit or withdrawal anytime), guaranteed profit (daily profit of 3% to 5% depending on the chosen investment plan) and top-class servers that secure your account.
All of this is excellent, but don’t get too excited. In the rest of this review, you will see why we didn’t like X Invest at all and what parts of their service can really meet all those claims. The first thing we like to check about the service quality is account types. This time, brokers have four different ones at their disposal. The selection is not bad at all, but there is one problem, this broker doesn’t provide enough details about trading conditions.
There are Basic, Premium, Supreme and Pro accounts. With the Basic one, the minimum deposit requirement is just $1 which is a bit strange, to be honest. The maximum requirement is $10,000 and earnings are paid every 24 hours. Unfortunately, that’s all we know since there is not a single piece of information about leverage, spreads or other important things.
With a Premium account, the minimum deposit requirement is $10 and the maximum is also $10,000 but we do know that return of investment is 450%. The Supreme account allows you to deposit up to $20,000 (minimum is $100) and the return of investment is 360%.
Lastly, there is a Pro account with the minimum deposit requirement of $1,000, the maximum of $100,000 and the return of investment of 600%.
As you can see, this is everything we have when it comes to account types and information. This is not enough at all and apparently, we are not dealing with a transparent broker who is ready to provide proper service to its clients.
The next part about the quality of service would be trading platforms. Well, this time we won’t be able to tell you anything about it, since this broker didn’t provide a single piece of information about the platform. We have no idea if it uses MetaTrader, some unique solution that’s web-based or downloadable. Potential clients cannot even test the platform before they decide to open an account and that’s not a good thing.
Lastly, we wanted to talk about education and informative material that Forex traders usually provide. That’s another thing that cannot be found on the X Invest website. As a client, you won’t be able to learn from this broker or to read some educational articles. Nothing is provided, not a single blog post. So, if you like to improve your knowledge, this broker is definitely not for you.
Speed of Response
We will be short here because we never even got a reply. Without proper customer support, everything that Forex broker does is in vain. At some point, things will go wrong even if the service is flawless and you need to have someone to call and solve any issue. Well, in this case, the only contact method is an online form.
You have to fill in some details (name and your email) and write a message. We love to see online forms on the website but as one of the methods, not as the only one. So, we were quite disappointed this time and our disappointment grew even more once we realised we will never get a reply. Even though it’s written on the website that X Invest offers 24 hours support, 7 days a week.
So, if you need any assistance or if something goes wrong, don’t think you can count on someone who will solve that. You are left on your own and that’s not something we would recommend, especially if you choose one of the bigger accounts and deposit the maximum amount of money.
In most cases, we would spend some time discussing the speed of transaction and whether a broker offers fast ones or not. This time, we can say that X Invest offers transactions within the hours (7 days a week).
Usually, we would be thrilled to see that because that’s a very fast time to receive money on your bank account, but this time we cannot be sure that is the truth. This broker promised a lot of things and it didn’t fulfil them. For example, support should be constant but in reality, you won’t receive a reply. That said, we cannot be sure that the speed of transaction is that good or it’s just another false promise.
As much as we would like to talk about commissions, that’s not possible today. Why? Well, X Invest doesn’t think it’s important to inform clients about potential fees that will be charged. You can check the whole website and you won’t find a single thing about commissions.
We tried to read Terms and Conditions, hoping to find at least one sentence that will tell us more about potential charges, but that wasn’t possible. There is a part where it says “Please read the Terms & Conditions before joining” but once you try to click on that, nothing happens. So, the Terms and Conditions page is nonexistent as well.
This means that X Invest can charge you for every single thing you do on the website. Once you deposit money, you agreed to their terms which means you are ready to pay whatever this broker asks. So, if you are not ready to deal with hidden fees, we advise you to skip this broker.
This part about regulation is more than clear to anyone. Until now, we realised that X Invest doesn’t have a license, which wouldn’t be a problem for us if it provided good and secure service. Well, that’s not the case and this broker doesn’t have a single security step on the website.
First of all, we have no idea about fees. It could charge you even more than you can imagine. Second, if something happens to your money or trading account, there isn’t anyone who will assist you and help with problem-solving.
Lastly, there aren’t any verification processes whatsoever and it can happen easily that your money disappears. In that case, you cannot complain to authorities since you chose to trade with an unregulated broker. That’s exactly why we would skip trading with X Invest and find someone who guarantees the safety of our funds.
Variety of Payment Options
If you are used to having different payment options at your disposal, X Invest won’t satisfy your needs. This broker doesn’t give you many opportunities and even Credit Card payments are excluded.
As a payment method, you can choose Perfect Money, Bitcoin, Litecoin and Ethereum. Nothing else is offered. If you ask us, this is not enough but apparently, this broker doesn’t care a lot about its clients.
The Bottom Line
By the end of this X Invest review, you could realise this is not a broker we can recommend. Every segment of its business is unfinished, you cannot count on support if something doesn’t go according to plans and security is also not something this broker worries about.
That said, the only thing we can recommend to you is to continue your search and find a better broker that will be suitable for your trading needs. There are so many different Forex brokers who offer excellent service and trading conditions and we cannot find any reason to deposit money at X Invest.