Score

1.51 /10
Danger

XNZT

The Virgin Islands

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Add brokers

Comparison

Quantity 7

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index6.99

Risk Management Index0.00

Software Index4.00

License Index0.00

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

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

More

Company Name

HX Worldwide Company Limited

Company Abbreviation

XNZT

Platform registered country and region

The Virgin Islands

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-12-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Pyramid scheme complaint
Expose
    XNZT · Company summary
    Aspect Information
    Registered Country/Area The Virgin Islands
    Founded Year 2-5 years
    Company Name HX Worldwide Company Limited
    Regulation None (No valid regulatory oversight)
    Minimum Deposit $25
    Maximum Leverage Up to 1:500
    Spreads Standard: From 3 pips
    Premium: From 2 pips
    Trading Platforms MetaTrader 4 (MT4)
    Tradable Assets Shares, Options, Futures, Warrants
    Account Types Standard and Premium
    Demo Account Not specified
    Islamic Account Not specified
    Customer Support Chinese (Simplified) phone lines, Email support
    Payment Methods Wire transfer, Credit/debit card, PayPal, Skrill, Neteller

    Overview of XNZT

    XNZT, operated by HX Worldwide Company Limited in the Virgin Islands, has been in operation for 2-5 years. However, it lacks valid regulatory oversight, raising concerns about its legitimacy. Recent reports indicate that the broker has received five complaints within the past three months, underscoring potential risks associated with their services.

    XNZT offers a range of market instruments, including shares of various companies, options, futures contracts, and warrants. These instruments serve different purposes for traders, from ownership rights and potential dividends to hedging and speculating.

    The broker offers two account types: Standard and Premium. While the Standard account provides essential features, the Premium account offers additional benefits, such as discounts, early access, priority support, and access to a specialized support team.

    XNZT offers leverage up to 1:500, allowing traders to control a significant amount of capital relative to their account balance. However, the broker's spreads and commissions vary between the Standard and Premium accounts.

    Traders can deposit and withdraw funds using various methods, with minimum deposit and withdrawal amounts specified. Fees may apply, depending on the chosen method. The broker utilizes the popular MetaTrader 4 (MT4) trading platform, known for its user-friendly interface and extensive trading tools.

    Customer support is available through Chinese (Simplified) phone lines and email. Reviews of XNZT on WikiFX indicate several complaints from users, including account bans, inducements, order closures, trading violations, high withdrawal fees, and communication difficulties with customer service. In conclusion, caution is advised when dealing with XNZT due to its lack of regulatory oversight and the negative experiences reported by some users.

    basic-info

    Pros and Cons

    XNZT presents several advantages and disadvantages for traders. On the positive side, it offers substantial leverage of up to 1:500 and provides access to the popular MT4 trading platform. Additionally, the broker supports multiple deposit and withdrawal methods and has a reasonable minimum deposit requirement of $25. It also offers a variety of market instruments and a premium account with exclusive benefits. However, there are notable drawbacks, including the absence of valid regulatory oversight, unavailability of the main website, standard account commissions of $0.07 per side, lower but still existing commissions for premium accounts ($0.05 per side), limited phone support only in Chinese (Simplified), and a concerning number of user complaints and negative reviews. Traders should consider these factors carefully before engaging with XNZT.

    Pros Cons
    • Offers leverage up to 1:500
    • Operates without valid regulatory oversight
    • Provides access to MT4 trading platform
    • Main website unavailable
    • Multiple deposit and withdrawal methods
    • Standard account commissions: $0.07 per side
    • Minimum deposit: $25
    • Premium account commissions: $0.05 per side
    • Various market instruments available
    • Phone support available only in Chinese (Simplified)
    • Premium account offers exclusive benefits
    • Numerous user complaints and negative reviews

    Is XNZT Legit?

    XNZT operates without valid regulatory oversight, posing a potential risk to traders. It is important to note that the broker has received five complaints within the past three months, as reported by WikiFX, further underscoring the need for caution when considering their services.

    regulation

    Market Instruments

    • Shares: XNZT offers shares of various companies, such as NZXT, Inc. (NZXT), traded on the Nasdaq Stock Market under ticker symbols like “NZXT.” These shares represent ownership in the respective companies, granting shareholders voting rights on specific corporate matters and the potential to receive dividends when declared.

    • Options: XNZT provides options trading, allowing investors the choice, but not the obligation, to buy or sell a specified number of stock shares at a predetermined price before a set date. Options serve purposes like hedging existing holdings, speculating on future price movements, or generating income.

    • Futures: XNZT offers futures contracts, which are agreements to buy or sell a certain quantity of a commodity or financial asset at a predetermined price on a specified date. These contracts are commonly used for hedging against price fluctuations or speculating on the future price of commodities or assets.

    • Warrants: XNZT also deals in warrants, which are securities giving the holder the right to purchase a specific number of shares of a stock at a predetermined price within a specified timeframe. Warrants are often issued by companies as part of financing arrangements or as incentives for employees.

    Pros Cons
    Provides access to shares of various companies Limited types of market instruments available
    Offers options trading
    Provides futures contracts for hedging
    Offers warrants for stock purchase rights

    Account Types

    STANDARD

    The Standard account is the basic account type available to all users. It grants access to essential features on the NZXT website and forums, the ability to purchase NZXT products, download and use NZXT CAM software, and submit support tickets.

    PREMIUM

    The Premium account is a subscription-based service that includes all the features of the Standard account. Additionally, Premium account holders enjoy exclusive discounts on NZXT products, early access to new products and features, priority customer support, and access to a specialized support team.

    Pros Cons
    Standard account offers basic access to essential features Premium account is a subscription-based service
    Premium account includes exclusive discounts and early access Premium account requires a subscription fee
    Premium account provides priority customer support and specialized team access Standard account lacks premium benefits

    Leverage

    NZXT offers a leverage of up to 1:500. This means that you can control up to $500 for every $1 you have in your account.

    leverage

    Spreads & Commissions

    The Standard account has spreads starting from 3 pips and commissions of $0.07 per side, while the Premium account has spreads starting from 2 pips and commissions of $0.05 per side.

    Deposit & Withdrawal

    NZXT offers multiple deposit and withdrawal methods, including wire transfer, credit/debit card, PayPal, Skrill, and Neteller. The minimum deposit is $25 and the minimum withdrawal is $10. Fees vary depending on the method used. For example, wire transfers have a fee of $25, while credit/debit cards have a fee of 3%.

    Pros Cons
    Multiple deposit methods available Fees associated with certain withdrawal methods
    Minimum deposit is reasonable at $25 Minimum withdrawal amount is $10
    Variety of payment options, including PayPal, Skrill, and Neteller Credit/debit card withdrawals have a 3% fee

    Trading Platforms

    XNZT provides its traders with access to the widely recognized trading platform, MT4 (MetaTrader 4). MT4 is a popular choice among traders and offers a range of tools and features, including real-time charts, technical analysis tools, and a variety of order types. This platform allows users to trade a diverse range of financial instruments, including forex, commodities, and indices, all within the framework of MT4's user-friendly interface.

    trading-platform
    Pros Cons
    Utilizes MT4, a widely recognized platform Limited information about platform customization
    Offers real-time charts and technical analysis tools No mention of additional trading platform options
    Supports trading of diverse financial instruments No details on platform stability and uptime

    Customer Support

    XNZT provides customer support through two Chinese (Simplified) phone lines, which are 400-1208-921 and 400-8428-879, as well as via email at cs@xnzt666.com.

    Reviews

    Reviews of XNZT on WikiFX include complaints and negative experiences from users. Some users have reported issues like being banned from their accounts without a solution provided by the platform, frequent inducement to recharge and place orders, involuntary closure of orders despite sufficient margin, and concerns about the platform engaging in trading violations without a business license. Additionally, there are complaints about high service fees when withdrawing and difficulties in communicating with customer service. These reviews highlight various challenges and negative experiences faced by users, urging caution when dealing with XNZT.

    reviews

    Conclusion

    In conclusion, XNZT, operated by HX Worldwide Company Limited in the Virgin Islands, offers trading services in various market instruments, including shares, options, futures, and warrants. However, it is important to note that XNZT operates without valid regulatory oversight and has received five recent complaints, indicating potential risks for traders. The broker provides two account types, Standard and Premium, with different features and benefits. XNZT offers high leverage of up to 1:500 but has varying spreads and commissions depending on the account type. While the broker supports multiple deposit and withdrawal methods, fees can vary. XNZT utilizes the widely recognized MT4 trading platform. Customer support is available through Chinese (Simplified) phone lines and email. Reviews on WikiFX highlight several issues and negative experiences reported by users, including account bans, inducements, order closures, trading violations, high withdrawal fees, and communication difficulties with customer service. Traders should exercise caution when considering XNZT's services due to these concerns.

    FAQs

    Q: Is XNZT a legitimate broker?

    A: XNZT operates without valid regulatory oversight and has received five complaints within the past three months, indicating potential risks. Caution is advised when considering their services.

    Q: What financial instruments can I trade with XNZT?

    A: XNZT offers shares, options, futures, and warrants for trading, providing a diverse range of investment opportunities.

    Q: What are the account types offered by XNZT?

    A: XNZT offers Standard and Premium accounts. Premium account holders enjoy exclusive discounts, early access, priority support, and access to a specialized team.

    Q: What is the leverage offered by XNZT?

    A: XNZT offers leverage up to 1:500, allowing you to control a larger position with a smaller investment.

    Q: How can I contact XNZT's customer support?

    A: You can reach XNZT's customer support through Chinese (Simplified) phone lines or via email at cs@xnzt666.com.

    User Reviews

    More

    User comment

    2

    Comments

    Write a review

    FX5192548022
    3-6months
    电话联系时,说开户就送赠金,盈利都可以取款,最后盈利了,入金激活后被转黑名单,连本带利把我封锁了,真垃圾 好像是叫小詹还是小张的专员,各种骗
    电话联系时,说开户就送赠金,盈利都可以取款,最后盈利了,入金激活后被转黑名单,连本带利把我封锁了,真垃圾 好像是叫小詹还是小张的专员,各种骗
    Translate to English
    2024-08-12 15:46
    Reply
    0
    0
    李国豪
    more than one year
    XNZT is a company that is a pure fraud. Before you deposit, they are very attentive. After you deposit, their attitude becomes significantly worse. After all, their purpose of cheating you out of money has been achieved.
    XNZT is a company that is a pure fraud. Before you deposit, they are very attentive. After you deposit, their attitude becomes significantly worse. After all, their purpose of cheating you out of money has been achieved.
    Translate to English
    2023-03-03 14:06
    Reply
    0
    0
    7