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The WikiFX Score of this broker is reduced because of too many complaints!

XSpot Wealth

Cyprus | 10-15 years |
Regulated in Cyprus | Straight Through Processing (STP) | Suspicious Scope of Business | United Kingdom European Authorized Representative (EEA) Revoked | High potential risk

https://xspotwealth.com/en/

Website

Rating Index

Influence

Influence

D

Influence index NO.1

Greece 2.66
Surpassed 50.90% brokers
Biz Area Search Statistics Advertising Social Media Index

Contact

+357 25 571044
support@xspotwealth.com
https://xspotwealth.com/en/
Spyrou Kyprianou, 61 SK House, Ground Floor, Mesa Geitonia, Limassol 4003, Cyprus
The WikiFX Score of this broker is reduced because of too many complaints!
VPS Standard
No restriction on the broker account

Single Core

1G

40G

1M*ADSL

Open

FX3517856271

Unverified

Philippines

I OPENED AN ACCOUNT AND TRANSFER TO MY MANAGER WITH 15,000EUR BUT NEVER USED THE MONEY. ON THE 7TH OF DECEMBER OF 2019 I REQUESTED THE WITHDRAWAL OF THE TOTAL AMOUNT BUT NEVER GOT MY MONEY BACK. THE ORDER IS STILL PROCESSING. I SENT SEVERAL EMAILS AND SPOKE TO SEVERAL AGENTS AND STILL DON'T HAVE AN EXPLANATION. MY ACCOUNT NUMBER IS 21032693.

Exposure

2021-09-09

启明星II

Unverified

Hong Kong

Deliberately not withdraw the money, withdraw funds on April 9th,and you will not be accounted until April 12th, just to contact the customer service, pay the deposit, play routines, follow the book will not be accounted, fake platform,

Exposure

2021-04-12

启明星II

Unverified

Hong Kong

Now they tell me that the bank card number does not exist. Obviously there are bank card information in the account, they are lying. I hope that the relevant departments will crack down on such gangs so that more people will not be deceived.

Exposure

2021-04-07

Yurona

Unverified

United Kingdom

Set sail on the trading adventure with XSpot Wealth, protected by the safeguard of CYSEC regulation. The demo accounts were lifeboats in unpredictable seas. However, the wide-ranging fees on management, custody, and transactions felt like sudden tides. The limitation of wire transfers as the only support and no services for US clients created high waves. But the three investment plans made the journey adaptable to various trading styles. Unfortunately, the high minimum deposit thresholds can seem daunting. That said, the acceptance of many currencies did throw a lifeline. Despite the currents, XSpot Wealth offers an interesting trading odyssey.

Neutral

2023-12-05

逐梦人

Unverified

Singapore

XSpot Wealth's website looks great and professional, but I've seen a lot of people online saying they've been scammed out of money. This is really scary! I am grateful for victims who share their experiences, which allows us to avoid risks. Hope they can get their money back as soon as possible.

Positive

2023-03-20

FX2681488600

Unverified

United States

Everyone needs to recognize X Spot Markets as the liars they are and not be fooled! when consulting them, be sure to keep a record of transactions and conversations. Unable to withdraw initially like i was, customers have been urged to write to financialrecovery.tech for a refund. X Spot Markets let you profit, then let you lose money again and again and again, tormenting you by inch. And you will lose all the money in the end without noticing the scam.

Exposure

2021-04-02

FX2681488600

Unverified

United States

They make it impossible for you to withdraw by modifying your online details in the background and making it seem like you submitted the wrong information. They constantly asked for fees in order to unfreeze my account.X Spot Markets claimed zero risk but it was all lies from the onset.

Exposure

2021-04-01

FX1191678833

Unverified

Hong Kong

Unable to withdraw money, kept requesting deposit for various reasons, the first time I was told to accumulate my profits to 750,000 to be able to withdraw after doing that, they asked to make another deposit in order to withdraw, tech and got principal back early this month along with the profits made on the account. X Spot Markets stopped replying to emails and would have left me stranded if it were completely up to them.

Exposure

2021-03-31

努力人生

Unverified

Hong Kong

Unable to withdraw

Exposure

2021-03-30

努力人生

Unverified

Hong Kong

Unable to withdraw. Induce ue to deposit funds step by step.

Exposure

2021-03-28

努力人生

Unverified

Hong Kong

Can't withdraw funds. Serious fraud, still under supervision, all SCAM. This kind of broker should be closed

Exposure

2021-03-27

FX3266846587

Unverified

United States

They adopted a deceptive method that made me see their high profits, and then deceived me into depositing more money by claiming violation of rules, payment of margins or taxes, increased commissions at the time of settlement, On the X Spot Markets website, I have noticed a few times when there was a sudden abnormal phenomenon of sharp rise and fall curve that has caused serious slippage of their software.

Exposure

2021-03-26

FX3266846587

Unverified

United Arab Emirates

I was introduced by a friend to open an account and deposit an accumulated 48,500 U.S. dollars in order to make a trade transaction. They ran up and made a loss, and then made a lot of profit after that, then I asked to withdraw but I started noticing bulk of loss trades in my account. On the morning of October 11th, I could not open the platform account so I contacted them, they said that my account had violated the rules and they had to freeze my principal for 3 months. Now that three months have passed, the platform still didn’t give me any withdrawals on the grounds of the illegal account . X Spot Markets stopped replying their emails after some time and would have left me stranded.

Exposure

2021-03-26

Alex゛

Unverified

Hong Kong

I recommend that every victim should save their chatting history and call the police. Maybe we can’t recover our money but we can avoid more people being cheated!

Exposure

2021-03-23

努力人生

Unverified

Hong Kong

Unable to withdraw. The account that you transfer money to all personal accounts. Do not be cheated.

Exposure

2021-03-23

Alex゛

Unverified

Hong Kong

Wake up. This is a scam. You are unable to withdraw funds.

Exposure

2021-03-23

Alex゛

Unverified

Hong Kong

Unable to withdraw. Induce u to top up more

Exposure

2021-03-22

努力人生

Unverified

Hong Kong

Fake data.

Exposure

2021-03-20

启明星II

Unverified

Hong Kong

All the data is fake. You can't get your withdrawal at all.

Exposure

2021-03-19

FX5369868602

Unverified

Hong Kong

Do not top up! This is a scam

Exposure

2021-03-19

42
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Wiki Q&A
Comment

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Website

xspotwealth.com
20.111.1.1
Server Location
France
ICP registration
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Most visited countries/areas
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Domain Effective Date
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Website
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Company Summary

XSpot Wealth Review Summary
Founded2014
Registered Country/RegionCyprus
RegulationCYSEC
ServicesPrivate Wealth Solutions
Customer SupportPhone: +357 25 571044
Email: support@xspotwealth.com
Address: 5 Spyrou Kyprianou Avenue, Mesa Geitonia, 4001, Limassol, Cyprus

XSpot Wealth Information

XSpot Wealth is a company that focuses on providing users with private wealth solutions. It was registered in 2014, and it is regulated by CySEC in Cyprus.

XSpot Wealth Information

Pros and Cons

Pros Cons
Regulated by CYSECLimited business scope
Clear fee structure

Is XSpot Wealth Legit?

Regulatory Status Regulated
Regulated by Cyprus Securities and Exchange Commission (CYSEC)
Licensed Institution XSpot Wealth (EU) Ltd
Licensed TypeStraight Through Processing (STP)
Licensed Number235/14
license

Services

XSpot Wealth only focuses on providing users with private wealth solutions.

Products & Services

Fees

Fee TypeAmount
Management1%
Performance0
Custody0.2%
Entry0
Corporate Actions / Reports
Transaction0.2%
Exit0%
Total Ongoing1.2%
Total Fees Year 1 (Including Transaction Fee)1.4%
Fees

Keywords

  • 10-15 years
  • Regulated in Cyprus
  • Straight Through Processing (STP)
  • Suspicious Scope of Business
  • United Kingdom European Authorized Representative (EEA) Revoked
  • High potential risk

Wiki Q&A

marcustan
Within 1 year

Is XSpot Wealth overseen by any regulatory bodies, and if so, which authorities are responsible for its regulation?

WikiFX Reply
In my experience as a trader, regulatory oversight is always one of my primary concerns when evaluating a broker. With XSpot Wealth, I can confirm that they are regulated by the Cyprus Securities and Exchange Commission (CySEC). Specifically, the company operates under the name XSpot Wealth (EU) Ltd, and holds an STP (Straight Through Processing) license—number 235/14. This CySEC regulation is an important baseline, as the regulator imposes certain standards related to client fund segregation and business practices. However, for me, the mere existence of regulation is not enough to establish full trust. I noticed that while XSpot Wealth is currently regulated in Cyprus, their UK (FCA) authorization for European representation (EEA) was revoked. Additionally, I pay close attention to the numerous user complaints about withdrawal issues, which introduces significant risk even under regulatory oversight. Ultimately, while CySEC regulation does provide some accountability and recourse, the presence of regulatory flags and past user experiences lead me to exercise caution and thoroughly review all withdrawal policies and client protections before considering any engagement with XSpot Wealth.
Broker Issues
XSpot Wealth
Regulation
08-29
United States
Sergey5
Within 1 year

Does XSpot Wealth charge any undisclosed fees when making deposits or withdrawals?

WikiFX Reply
Drawing from my experience as a forex trader and after carefully examining the available data on XSpot Wealth, I am notably cautious regarding their fee structures. According to the details I found, XSpot Wealth presents a clear outline of its main fees—these include a 1% management fee, 0.2% custody fee, and a 0.2% transaction fee, with no stated entry or performance fees. However, I did not find explicit disclosure around deposit or withdrawal fees in the documentation provided. What raises concern for me is the overwhelming volume of user complaints about withdrawal difficulties. Many traders report being unable to access their funds, with some alleging requests for repeated additional deposits or supplementary fees at withdrawal attempts. While these reports alone do not prove the presence of undisclosed fees, they strongly suggest either problematic withdrawal processing or non-transparent cost structures that have left clients in the dark about the true costs involved. In summary, while XSpot Wealth appears to list its standard account fees openly, I have not found clear evidence of the absence of deposit or withdrawal fees. Combined with persistent withdrawal issues highlighted in user testimonials, I would approach this broker with heightened caution and would recommend direct, documented communication with their support before committing any funds or attempting withdrawals. Responsible due diligence is, in my view, absolutely essential here.
Broker Issues
XSpot Wealth
Fees and Spreads
08-28
United States
S jonas
Within 1 year

Which deposit and withdrawal options are available with XSpot Wealth, such as credit cards, PayPal, Skrill, or cryptocurrencies?

WikiFX Reply
From my personal experience researching and testing brokers, I place great importance on understanding deposit and withdrawal methods before trusting any provider with my money. With XSpot Wealth, the information I gathered highlights a rather restricted approach: wire transfers are the only explicitly supported funding and withdrawal method. There is no official indication that credit cards, PayPal, Skrill, or cryptocurrencies are accepted. This limitation is significant for me, as I rely on flexibility for both convenience and risk minimization. Being tied to wire transfers alone can introduce extra delays and costs, and it tends to be less user-friendly than e-wallets or card solutions. In addition, I am deeply cautious in this case because according to multiple user accounts on the broker, withdrawals have been a major point of contention; many report long delays, excessive documentation requests, and even refusals to release funds. Given these red flags and my professional bias towards platforms with transparent, prompt payment solutions, I personally consider the lack of diversified deposit and withdrawal methods, combined with troubling client reports, a decisive drawback. For anyone managing substantial capital or seeking smooth financial operations, this is a detail that cannot be ignored. Proceeding with XSpot Wealth would demand above-average vigilance, thorough documentation, and a clear understanding of all related costs and timelines.
Broker Issues
XSpot Wealth
Deposit
Withdrawal
08-20
United States
J Forex Trader
Within 1 year

Is a free demo account available with XSpot Wealth, and if so, are there any restrictions such as a time limit?

WikiFX Reply
From my own experience researching XSpot Wealth, I can confirm that they do offer demo accounts, which I found especially valuable as a cautious first step. These demo accounts function much like lifeboats, giving traders a way to get familiar with the platform’s trading environment without risking real funds. However, I did not find specific, clear information about restrictions, such as time limits or limitations on functionality, directly stated in their documentation or user feedback. That said, while demo accounts are an industry norm for platforms regulated in reputable jurisdictions – and XSpot Wealth’s CySEC regulation lends a degree of credibility – my review of their user feedback uncovered some concerning patterns. While some traders appreciated access to demo accounts, there were multiple unresolved complaints about issues like withdrawals and customer support. These cautionary notes weigh heavily for me; demo accounts are helpful, but they don’t reflect the crucial aspects of live account risks, such as fund security or withdrawal reliability. In summary, based on my look into XSpot Wealth, a demo environment is available, but I strongly advise closely monitoring for any changes in policy, and conducting extra diligence before moving real money to a live account. For me, especially with this broker’s flagged risks, demo use remains strictly for testing, not as an endorsement of broader reliability.
Broker Issues
XSpot Wealth
Instruments
Leverage
Account
Platform
08-19
United States
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