File a Complaint against BrokerXP

Is BrokerXP A Good Broker or a Scam?

BrokerXP has been the target of the FCA warning because of lack of licensing. It also seems to be a clone of a licensed broker called XP Investment. Sometimes unlicensed brokers will take on a name that is similar to a regulated broker to trick customers into signing up with them instead. This is an underhanded trick, but a common one. In addition, the FCA and the FINRA have flagged BrokerXP.

We Have Some Concerns with BrokerXP

We conducted our own research on this broker, but they provide very little information about themselves. We didn’t see identities of people behind the broker or contact information. We also found many negative reviews which confirm our suspicions. Basically, the fact that BrokerXP is unlicensed and it has been mentioned as a possible scam by regulators are enough to lead us to the conclusion that you should stay away from this broker. 

BrokerXP Red Flags

  • No license
  • False guarantees
  • Flagged by the FCA and the FINRA
  • No transparency
  • Negative reviews

Lost Money to BrokerXP? Talk to Us!

ReportScamOnline experts understand brokers–reliable ones and scam operations. We have researched brokers and have created these reviews to help consumers make the right choice for trading. We recommend that you avoid BrokerXP and instead find a reliable and licensed broker. If you have lost money to this broker, contact us and we will launch an investigation that will bolster your claim. 

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