ANSWER Xnvest is not a licensed or regulated broker even though it states offers that look good to be true. Xnvest claims to be a reliable broker without presenting any information about its regulation. The lack of such important information may be a distinct signal of an unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag. Xnvest presents some telephone numbers that belong to the United Kingdom, Canada, Belgium, and France. But first please be informed that both forex activities and forex brokers have been banned since August 2016 in Belgium, which means that it is impossible that Xnvest is a regulated broker in Belgium. Second, we searched the forex regulators in the other three countries which include the United Kingdom Financial Conduct Authority (FCA), the Investment Industry Regulatory Organization of Canada (IIROC), and the France Autorité des Marchés Financiers (AMF). However, we only found a warning issued by AMF against Xnvest for not authorized to provide forex services. You can check the full warning from here. The truth is, Xnvest is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Xnvest and trade with licensed brokers.
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