XTN LTD – MFSA Licensed Broker With A Dark Past

With over 11 years of experience, you’d expect XTN LTD to better design their registration process, account types and pricing. Some transparency issues seem to appear too. The strict Maltese license exists, but the broker doesn’t seem to offer all the most attractive trading conditions and tools. What additionally undermines the potential motivation of investors to join their trading circle is the fact that XNT (previously known as Exante) had FIAU issuing a court case against their breach of AML standards.

Still, XTN LTD is a safe option and the heavy supervision ensures the clientele feels secure with their deposits. Exact benefits and disadvantages of investing here and other details to help you make up your mind are all listed in the following XTN LTD review.

MFSA License and MiFID Breaches

Soon after establishment, back in 2011, XTN LTD had acquired a MFSA license (C 52182). The firm operates under the severe MiFID directive, issued by ESMA, which additionally serves to increase the customer protection and transparency in the form of diligent transaction reporting. The CySEC passport is in effect, and here’s the proof: https://www.cysec.gov.cy/en-GB/entities/investment-firms/member-states/Cross-Border/43436/.

Being an EU member since 2004, Malta has been efficiently imposing the strict EEA regulatory rules on market participants. These include segregation of funds, leverage limitation to 1:30, compensation funds and negative balance insurance. Additionally, bonuses are banned and the transparency conditions enhanced.

What could produce suspicion is the fact that Malta’s Financial Intelligence Analysis Unit (FIAU) fined XNT LTD for anti-money laundering shortcomings. However, XNT LTD had won the court battle and had the fine removed.

Also, XNT LTD is owned by Lartemisis Holding Ltd, controlled by 3 firms from the British Virgin Islands. Offshore companies and trustworthiness never go together. All those companies belong to the Exante Group, which had one of their domains, www.exante.eu blacklisted in 2021 by CBR and subjected to an FBI investigation!

While the strict EEA legislation stands, we’d advise you to think well before investing with a firm with suspicious history.

Where XNT LTD Operates

A long history and strong regulation prove XNT LTD to be reliable. During the course of over a decade, the broker has established a big clientbase. The leading countries in the number of clients are:

• United Kingdom
• Latvia
• United States

Attracting clients is ensured through the security measures increased and a specter of tradable tools and assets. XNT LTD provides some alluring trading conditions and the clients can enjoy a safe trading environment. The particularities of each of these offers will be presented in detail ahead in this review.

Trading Costs and Other Expenses

XNT LTD isn’t explicit about the leverage they offer. Since MFSA aligns their standards with the strict EEA and ESMA, we’d assume any leverage above 1:30 would be a regulatory breach.

As for the spreads, the starting costs for EUR/USD are 0.3, averaging at 0.5 pips for other major currencies. However, this is what the broker claims, not what we could actually verify from inside the platform. So we don’t recommend rushing into investments based on several unverifiable statements. This shadiness vaguely resembles how T1Markets operates.

Trading Tools and Unreachable Software

Trading platform at XNT LTD is almost inaccessible. You first have to go through a stupefying process of KYC and account verification before you can do anything, like examine the platform and real trading conditions. The steps get more complicated as you progress and eventually, you have to reveal and share all your sensitive information first. Almost down to your shoe number.

The platform advertised is supposedly the latest technological breakthrough in the field of online trading. The XNT LTD platform should allow access to over 600,000 tradable assets through the network of over 1,100 servers for the best execution speed and coverage.

XNT LTD Mobile App Availability

Besides desktop Windows, macOS or Linux terminal, XNT LTD proprietary platform also works on iOS or Android smartphones. However, getting to it is a pain that we don’t recommend you going through. The  download won’t be available until you get through the overcomplicated verifying process. It’s easier to just download MT4, MT5 or cTrader from any of the other regulated brokers.

Groups of Trading Instruments

It is quite impressive that XNT LTD offers access to over 600,000 tradable assets. Trading in the US, EU, Asian markets should be available from an all-in-one multi-currency account. Here’s the detailed instruments list:

• Forex (EUR/USD, EUR/GRP, USD/CHF, USD/JPY, EUR/AUD)
• Stocks & ETFs (Tesla, Amazon, Facebook, Boeing, Bank of China)
• Metals (Copper, Gold, Palladium, Silver, Platinum)
• Futures (Commodities futures and Bonds futures)
• Options (QQQ, SPY, TSLA, AAPL)
• Funds ( Fidelity 500 Index Fund, Vanguard 500 Index Fund)
• Bonds (government and private bonds)

One Account Type For All

The XNT LTD account is described as all-in-one with all the attractive prices, trading tools and instruments included. The shady aspect is that the broker doesn’t clarify which those benefits of their universal account are.

What’s more, this mysterious account is extremely pricey. As soon as you log into the client area, you will see a note about the minimum deposit requirement being € 50,000 for individual clients.

This is beyond any reason and absolutely not worth it when the industry average is around 200 EUR/USD/GBP. Even a loosely regulated broker like Provident Trade requires only 50 USD to join their platform.

Demo Account Not Provided

As you’d expect from a heavily regulated brokerage, a Demo account is a must. However, that is not the case with XNT LTD. The website doesn’t specify if trial trading in a risk-free environment is available at all.

Instantly, when you open an account, you’re forced to go through a bothersome series of tests and questions. If that’s what’s required to find out if Demo is available at all, we don’t want it.

XNT LTD Assumes You’re Educated Enough

The high deposit requirement and the troublesome joining process would imply that only experienced and determined customers are welcome. The complete absence of any educational resources makes the broker unattractive for Forex beginners.

Even advanced traders would appreciate webinars, live discussions and socializing with other experts. XNT LTD hasn’t worked on that one bit. Extremely irresponsible of a regulated broker.

How XNT LTD Withdrawals Work

Legal docs have no particular instructions on how withdrawals should be processed. Only some general directions are given and they’re already known to every other Forex trader. The lack of transparency when it comes to particular processing time, payment methods and fees are alarming.

What the broker does reveal is that the only transaction method is wire transfer with the minimum withdrawal amount of 30 EUR. In comparison to most of the legitimate brokers, this offer is quite shallow. Credit cards, various E-wallets aren’t even a part of the offer!

Customer Support

Contacting the XNT LTD support is enabled via:

• Physical address of the firm
• Email address – [email protected]
• Telephone – +356 2015 0000
• Callback request
• Online form in the client area
• Online chat from the user help desk

The option we tried to test was the online chat. We were connected to the support agent shortly, but the responses took time but did answer our questions eventually. Of course, other means of contact might be even slower.

Few Things To Consider

The grim history, the connection to blacklisted domains belonging to the same parent company all make XNT LTD not so attractive for investing. Besides that, opening an account is difficult and the cost is 50 000 EUR. All things considered, we recommend you to find another brokerage brand to invest with.

For all other questions, additional info or help in requesting withdrawals or chargeback, we’re at your service. Our online chat is always functional and there to connect you to an agent that can arrange your first consultation completely free of charge.

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