Xeodis Review | A Robust Platform or a SCAM?

“Trade smarter with our robust platform” – such a tempting offer from Xeodis. The broker also promises exclusive benefits for its clients. Despite such a generous offer, the firm operates without any license, though the website mentions some regulation, but it’s unlikely to be true, and there are very few reviews online. It’s unknown where the company is registered, and when it was founded. There’s also no information about the business model. Yet, is this really a beneficial platform or just a scam?

Highlights

First Impression of Xeodis.com

As always, we start getting acquainted with the broker by exploring its official website. What’s notable about Xeodis’ site? Nothing. Quite a template and a very dull resource, with a minimum of useful information for visitors. The foundation date, office addresses, licenses, and other aspects of the firm’s activity are not disclosed, which already raises certain suspicions regarding the reliability of the platform. Not all legal documents are presented, and the most important among them, the user agreement doesn’t even open.

At the top of the page, one can find several sections with information:

• About. Mission, vision, contacts, and legal documents.
• Trading. Platforms, accounts, and contracts expire.
• Markets.
• News and tools. Additional services.

The site is available only in English. Contacts, advantages, descriptions of account types, and an overview of the platform are available. However, as we’ve already mentioned above, Xeodis does not provide specifics. So, one could safely remove 90% of the text without changing anything.

Partnership and Bonuses

On the official website, there is no information about either the affiliate program or bonuses. However, Xeodis does offer a referral system to its clients. How did we find out about this? At the moment of registration, a user can enter a “promo code”, which hints at the existence of an affiliate program. Possibly, bonuses are also offered to traders, but we cannot find out about it.

Account Opening on Xeodis.com

To start trading here, the first step is to register an account. We will now examine this process in more detail. Xeodis offers a relatively simple process, but it requires additional information about the place of residence. It seems more sensible to move this to the verification procedure, rather than cluttering the account creation process.

Xeodis also asks for a name, date of birth, account currency (USD or EUR), promo code (if any), and contacts. In the end, you must agree to the terms, which cannot be opened to read, as it results in an error. How can you agree to something you don’t know?

After we submitted the registration request, the system returned an error. You need to try again or contact technical support. This is not surprising, as fraudulent companies often do not allow free registration of an account. Xeodis is no exception.

Alright, let’s try writing to the online chat to find out what the problem is and how to create an account after all. At the same time, we’ll see how quickly the managers respond. Maybe they ignore it altogether. By the way, another drawback of Xeodis is the absence of a demo account. Such an option is not mentioned on the site.

Verification

The verification procedure is clear. Like other brokers, Xeodis adheres to the AML & KYC policy, thus requiring clients to provide a set of necessary documents. This package is standard:

• Passport, driver’s license, national or government ID.
• Bank statement, utility invoice, or other proof of residence address.
• Photo/scan of bank card. The CVV must be hidden.

The verification process occurs in the personal cabinet or by sending scans via email. However, Xeodis does not disclose how long the verification will take.

Trading Software

Since it is currently impossible to create an account, we cannot see for ourselves what the terminal looks like and what features it has. The only option left is to trust how Xeodis describes its platform. This is quite foolish, and it’s better not to do so, but we have no other choice. Brokerage firms often greatly exaggerate the capabilities of their terminals, misleading users.

Additionally, the platform is allegedly available on all devices. That means users can trade not only through WebTrader in any browser but also download the application on a computer or smartphone (Android/iOS). However, there are no links; they are available only to the chosen ones, i.e., those who managed to register and get inside. Here we want to add that one should not download unfamiliar software, as it may contain dangerous viruses and harm your device. A verified broker would provide download links from the AppStore/PlayMarket.

How Can I Trade With Xeodis?

The firm promises access to 2,000 and more assets. These include currency pairs, cryptocurrency, commodities, indices, stocks, and metals. However, the instruments are only available as CFDs, so trading spot or futures is not possible.

All Info About Accounts

Xeodis offers six types of accounts:

1. Beginner. The minimum deposit is $500. Basic market access, free education, all platform types, one-click trading, and no extra fees.
2. Basic. Same conditions, but requires a minimum deposit of $5,000. And what’s the point of such a tariff?
3. Trader. From $20,000 – market updates are added.
4. Premium. At least $50,000. The tariff includes dedicated support, personal push and SMS alerts, and exclusive updates.
5. Investor. Full market access and the minimum deposit is $250,000.
6. VIP. Individual conditions for those ready to invest one million dollars.

The conditions are indeed striking. First, the huge minimum deposit of $500 and above. Some tariffs require even more money, but essentially do not differ. Second, uninteresting additional services that do not inspire opening a more expensive type of account. Third, as we’ve already mentioned, Xeodis lacks a demo account. So, you can only test the platform after making a deposit.

The size of the leverage is unclear. In the description of the trading platform, it is 1:200, while in the FAQ section, it’s 1:400. Which one to believe? In any case, these are high indicators that cannot be offered by a regulated broker, as financial commissions prohibit offering such high leverage. So, it’s unlikely that Xeodis holds licenses.

Market Analysis and Education With Xeodis.com

Users have access to online quotes for popular currency pairs, an economic calendar, a news feed, trading hours, and contract expiry dates. Quite a scant free auxiliary functionality. It would be great if Xeodis offered ready-made educational courses on various topics, as well as fresh analytics.

Deposit, Withdrawal, and Fees

Xeodis offers three options to top up the deposit balance and withdraw funds:

• Credit/debit cards.
• Bank wire transfers.
• E-wallets.

For some reason, cryptocurrencies are absent, even though they are currently popular due to their speed, cheapness, and convenience. Commissions, as well as the processing time for withdrawal requests, are unknown. Another shortcoming of the broker. How many are there already?

How Can I Contact It?

We found out that it’s pointless to write to technical support in the online chat. We tried to find out what the problem was at the time of registration, but the managers never responded. Moreover, we received a message saying: “The chat has been closed due to long user inactivity”. It’s funny.

Xeodis also provides a phone number and an email address, but they are unlikely to be real. Indeed, a check showed that the provided email was fake. Therefore, it’s unclear how to contact the staff.

On the website, you can see logos for Facebook, Instagram, and Twitter. However, Xeodis does not have accounts on these social networks, and the links lead back to the site. Then what was the point of displaying the logos? Oh right, the site was made from a ready-made template. The scammers just forgot to remove the social network logos.

Is Xeodis Dangerous?

From the very beginning, the company raised suspicions and doubts regarding safety. And gradually, as the review progressed, this was confirmed. First, a template and low-quality website, then an error during account registration, followed by inadequate and partially hidden trading conditions. In the end, it turned out that the contact details were fake. The only thing left is to study the legitimate status of Xeodis, as well as its operational period, and then we can conclude.

How Long Does The Broker Work?

There are no mentions of the foundation date except for the year 2024 in the website’s footer. The number of reviews is also very small, which suggests that Xeodis began its operations recently. Confirmation of this is the domain registration date of the official website, specifically February 1, 2024. This indicates a very young company.

How Is Xeodis Regulated?

Now onto the most interesting and important part. The website lists a legal entity, TRADING LTD, which supposedly has a license number LIC0123445. However, which regulator is this, under what jurisdiction, and what kind of company is TRADING LTD? It appears that Xeodis fabricated a legal entity and issued a license to themselves. We have no other explanation. Moreover, we cannot even verify whether this is true or not, as we do not know the jurisdiction. The legal address is not listed on the site – another significant red flag. Thus, it’s quite reasonable to conclude illegal activity.

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Expert Opinion

Scammers did not put much effort into creating their fake brokerage site. They invented a license that does not exist but forgot to mention the foundation date, registration address, and other operational details. The closed registration can be easily explained. Fraudsters did this deliberately so that people wanting to trade here would have to call/write to the managers themselves. Then, the managers simply start processing the potential victim to extract as much money as possible. The scheme is simple and clear, don’t fall for it. Legitimate firms allow free registration and also offer to try the service on a free demo account. There’s none of that here, so Xeodis is yet another scam broker.