Even if you are an experienced trader, you would be forgiven for never hearing about X Invest. They are a typical representative of this post-pandemic new wave of brokerages trying to cash in all the hype. In fact, with poor decision making, they have positioned themselves near the bottom. The lacklustre offering becomes more apparent as you navigate their website. You don’t even need to be an experienced trader to realise some of these shortcomings. For starters, we have never seen a single page layout for any serious brokerage. While setting up and running a brokerage can be a pricey endeavour, cutting corners at every turn will get you nowhere and X Invest is a prime example.
With no history in this industry, unknown founders, and a pitiful first impression, X Invest will surely stay out of the radar for all seasoned traders. However, in the past 15 months, the market has been flooded with new traders who obviously are a key target for this brokerage. This is exactly why you should stick around until the end of the review to discover all the trappings you could encounter if you choose to commit to X Invest.
Quality of service
Like we previously mentioned, X Invest offers a single page layout that does not look appealing or promising by any means. This type of effort would be expected from a high school project and not from a brokerage operating on a global scale. The lack of moxie is even more noticeable in the customer service department and the educational program.
While it is true you can find plenty of free educational material on the web, most brokerages attempt to build trust and offer additional value by including an educational centre. This has proven to be effective, but X Invest fails to address this as well. Despite having several account types, there are no educational perks included. There isn’t even any material offered from the get-go. This is extremely strange, given how X Invest is clearly targeting novice traders. This leads us to suspect there might be some nefarious motives behind this decision. If the broker wants to establish a reputation of being trustworthy and having good value for money these are the type of perks you would expect to see. However, given its current state, we have no choice but to suspect X Invest is a scam.
Speed of response
The industry standard would be to offer several communication channels for your current, and potential clients to reach you. It is very common to establish a call centre with several available phone lines, direct email support and some type of smart chat functionality. Almost none of this is available on X Invest. There is an on-page form that you can fill out, but do not get your hopes up, since we wrote several emails, and are yet to receive any reply.
There is a press release section as well, but with a broken link. With this level of negligence, how can you expect anything more from such a brokerage? X Invest fails to deliver on the most basic concepts that have nothing to do with trading. At this point, we realised we are dealing with a trend, and this will become even more apparent as we reach the end of our X Invest review.
At first, you will be puzzled to find out that there is not a single scrap of information on what the trading platform looks like. This is shocking to discover on a website that is supposedly an up and coming brokerage. There are those who adopt some industry solutions, such as Meta Trader. On the other hand, there are those who build their own custom web-based solutions, that address some of the issues found in popular MT4 and MT5 platforms. However, when this is the case, the brokerage normally tries their best to sell you on this idea, and place the platform features right in the centre of all their marketing activities.
X Invest even fails to do this. Just by looking at their website, you would have no idea of what you are getting into because there is no mention of the platform at all. You are left guessing and with no Demo accounts, you are required to put money down before you are allowed to see everything. This may sound like a bad amusement park ride, and sadly, in practice, it’s exactly what it is. You get a low-effort web-based platform that is missing some key features, and even worse, performs very poorly.
The platform in itself is not very user friendly, despite looking very feature deprived. The layout of the commands and assets is everything but intuitive. You will spend a lot of time just trying to figure out what to do next. And this is assuming you actually know how to trade. If you are a complete beginner, we are sad to say, but you should have no business being here. The entire industry has advanced so far, and X Invest is playing catch-up and we don’t see them being competitive in this market for long.
At this point, we weren’t even surprised that X Invest isn’t transparent at all when it comes to trading cost. There is no information that you can look up, and in fact, there isn’t really any terms and conditions that you can go through. The only thing you can actually discover is the account types and the associated perks. There are four main ones and they include Basic, Premium, Supreme and Pro. Below is a detailed breakdown of each of them.
As basic as the name implies. There is a deposit range of $1 – 10,000 and apparently, earnings are paid every 24h. Return on investment is unknown.
There are hardly any perks associated with this tier. The deposit range goes up – $10 – 10,000. And return on investments in apparently 450%
Again, no apparent perks here, just a slight increase over what we have already seen so far. ROI is 360% with a deposit range of $100 – 20.000.
Once again, we are sad to see there is very little incentive to go for a higher tier. Slightly increased parameters are unlikely to win anyone over.
Given what is available in most other brokerages, we cannot consider any of these to be a good package. There is very little differentiation between the tiers, and the number of perks is laughably low. With no education or account management tools, you are very limited, and there is no reason you should do online trading with your hands tied like this.
As expected, X Invest is not a regulated broker, nor does it have any policies in place that can guarantee the safety of your funds. While it is not uncommon to have young brokerages opting to forego the expensive process of obtaining and maintaining a licence, this brokerage is extra suspicious given everything we have seen so far. You should proceed to trade with X Invest at your own risk.
Variety of Payment Methods
The absence of information on this end should be alarming. Since there are no available terms and conditions, we are limited to all information on the homepage. Apparently, you can make deposits via eWallets, if you are using Bitcoin, Litecoin, Ethereum or alternatively Perfect Money. This is an electronic payment system that should supposedly give bonuses depending on the payments you make. Perfect Money is also another relatively new system that is untested in the online trading industry. If you are feeling particularly brave, you can use it, but we would not recommend it.
So far we were pretty open about the ideas of new brokerages. This industry needs new blood that will push the boundaries and introduce improvements that will be beneficial for both the brokers and traders. X Invest is sadly not an innovator, but a scam broker that targets new and inexperienced traders and tries to extract as much money as possible. Just by observing their homepage, you can get a good idea that something is not right here. Keeping all vital information away from the public is a big red flag. Shameful excuse for a trading platform, combined with a non-existent support team and no customer-centric features makes the entire package look pretty unappealing. In the current state, you should avoid X Invest at all cost and look for alternatives. You can look for positive examples in the rest of our forex trader reviews.