XYTronFX Regulation and safety of the funds
According to the site, the company that runs this brokerage has its registered address in Marshall Islands with a standard address. We have seen many other brokerages using.
We found out that the company that operates the broker is registered under Blue Marine Capital Ltd. Blue Marine Capital Ltd. We want to emphasize that Marshall Islands has become a popular destination for scammers because of its permissive laws for the registration of corporations. The government doesn’t even need a person to be physically present in order to be able to register a business. This loophole has been noticed by a lot of shady brokers and has been exploited. However, it’s reasonable to believe that the business responsible for the brokerage regardless of its legitimateity, does not fall under any type of oversight since the administration in Marshall Islands does not have any regulatory oversight. Marshall Islands does not include Forex trading in its regulation system.
For the record The brokerage claims that it has its customers with the MetaTrader 4 trading platform, with a web-based version. The MT4 is one of the most popular trading terminals for Forex trading today with close to 80 percent of customers use it. The platform offers a powerful charting software, numerous technical indicators, a robust back-testing capabilities and a selection of Expert Advisors (EAs). For beginners, the platform simple to use due to its simple layout. We also were able to open an account with a demo option, which is an excellent surprise considering that for the majority of unregulated brokerages, it isn’t possible to test the platform. Here’s an example:
There is a possibility of an average spread of 0.5 per cent, which is extremely affordable and extremely beneficial for traders. However, keeping in mind the absence of regulation, it is impossible to be sure if these numbers are true. A spread that low can be considered too impressive to be real and the broker will struggle to make profits with this lower spread.
The above mentioned issues and the offshore location of the brokerage strongly incline us to believe that prospective clients of the brokerage might be exposed to a significant risk.
The traders don’t need to concern themselves about such risks when they decide to trade with a brokerage that is licensed and approved by a respected regulatory body. These agencies include those like the FCA in the UK or CySec in Cyprus that have been the top brands when it comes to Forex trading for a while and are still leading. Their regulatory framework consists of several strict rules that prevent customers from being a victim of fraud. This includes segregation of accounts, which ensures that any commingling of the clients’ money is not feasible. A license issued given by a regulator requires involvement in a financial scheme that allows clients to be compensated for loss due to bankruptcy or fraud. For the FCA the amount of compensation can be up to 85 000 pounds while with CySEC it’s up to 20 000 euros per person.
XYTronFX withdrawal and deposit methods as well as charges
Traders can deposit or withdraw funds only through the traditional Visa, MasterCard, wire transfer, as well as Neteller or Skrill
We didn’t find any specific provisions that warrant a mention in the conditions and terms. We also didn’t find any fees for withdrawals, however it doesn’t suggest that there aren’t withdrawal charges at all. That’s why we suggest traders to deposit just the minimum deposit required rather than risking an additional amount without assurance. After that, they could decide to withdraw a small amount to check for any fees or delays. These delays and fees are typically the sign of a fraudster.
| XYTRONFX Summary | |
|---|---|
| XYTRONFX Details | Information |
| Regulators | |
| Country |  Marshall Islands |
| Base Currencies | USD |
| Type Of Brokers | ECN, STP |
| Trading Platform | WebTrader, MT4 |
| Established Year | 2013 |
| Website Language | English |
| US Clients | |
| XYTRONFX Spreads | |
|---|---|
| Option | Information |
| Minimum Spreads | 3 |
| Commission | |
| Fixed Spreads | |
| XYTRONFX Payment & Withdrawal Option | |
|---|---|
| Option | Information |
| Acc Funding Methods |  Skrill |
| Acc Withdrawal Methods | Skrill |
| XYTRONFX Suitable For | |
|---|---|
| Option | Information |
| Publicly Traded | |
| Beginners | |
| Day Trading | |
| Weekly Trading | |
| Professionals | |
| Swing Trading | |
| XYTRONFX Trading Account Options | |
|---|---|
| Option | Information |
| Maximum Leverage | 1:500 |
| Mini Account | |
| VIP Accounts | |
| Segregated Accounts | |
| Free Demo Accounts | |
| Managed Accounts | |
| Pro Account | |
| Minimum Deposit | $300 |
| Islamic Account | |
| XYTRONFX Trading Services | |
|---|---|
| Option | Information |
| Hedging | |
| News Trading | |
| Scalping | |
| Automated Trading | |
| Indices | |
| Commodities | |
| Forex instruments | |
| CFDs | |
| ETFs | |
| Stocks | |
| Bonds | |
| Cryptocurrencey | |
| Trading Signals | |
| Educational Service | |
| Copy Tradings | |
| XYTRONFX Contact & Support | |
|---|---|
| Option | Information |
| Telephone No | +442039662370 |
| support@xytronfx.com | |
| 24 Hours Support | |
| Support During Weekends | |
| Address | Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands 96960 |
