Beware! Xcgin is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Xcgin presents itself as a forex broker to help us unlock our trading potential. But a closer inspection of this website provides us with numerous reasons to be suspicious. Let’s take a look at why it wouldn’t be a good idea to trust your investments to Xcgin and what more credible alternatives you have when choosing a broker.

Xcgin Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

When you visit the website of a legitimate broker you can expect to find clear and detailed information about the company that owns and operates it, where it is based and what regulatory regimes it is subject to. Licensed financial services providers are also required to provide a comprehensive set of legal documentation.

The availability of such information does not guarantee that it is not false or misleading. But the absence of these elements is very indicative that in all likelihood you are dealing with scammers.

According to the website’s footer, this broker is run by a company named Cansa Limited, based in an offshore zone – Dominica. At the same time, however, a contact address in the Netherlands is provided.

An unregulated offshore broker cannot legally offer financial services in a regulated jurisdiction such as the European Union. Financial authorities in another European country, Germany, have issued a warning to investors that Xcgin is not authorised.

Even more worrying, the links to the Terms and Conditions and other documents on the Xcgin  website are blank. So we don’t know what terms we are agreeing to when we sign up for an account.

If you have decided to invest in financial instruments you have a choice of much more trustworthy options.

Depending on your location, it is advisable to choose a company that is regulated by an institution such as Commodity Futures Trading Commission (CFTC) in the US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent.

Xcgin Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
Xcgin platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

Xcgin provides only one trading software option – a basic web-based platform. Here’s what it looks like:

While the platform has the basic features for placing orders, customising charts and application of technical indicators, it lacks the more advanced functionality found in the most widely used trading platforms in the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

Xcgin Trading instruments

FP MarketsYesYesYesYesYes

In theory, Xcgin offers trading in an impressive selection of financial instruments – currency pairs, stocks, commodities, indices, cryptocurrencies and futures. But there is no guarantee that the trading offered by this unregulated and suspicious website is real. It is highly recommended to trade only through licensed and established providers.

Xcgin Spreads and cost of trading

XcginXMFP MarketsOcta
Spread EURUSD0.
Spread GBPUSD0.21.31.5x
Spread USDJPY0.21.31.5x

In the trading platform we see a very low spread of 0.1-0.2 pips. Such a raw spread means that the broker has to charge some kind of commission. Usually commissions are per lot traded. But the broker provides absolutely no information about the price paid by the trader.

Xcgin Maximum leverage

UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

Xcgin offers leverage up to 1:200, which is not possible for brokers operating legally in regulated jurisdictions.

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Xcgin Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Credit cardInstant24 hoursFree
Crypto24 hours24 hoursFee depends on crypto

Xcgin advertises multiple payment methods that are not available on the deposit menu. Experience has shown that fake brokers routinely advertise conventional payment methods, but actually steer their potential victims towards cryptocurrency transactions. This not only guarantees them anonymity, but also deprives the defrauded of the option to request a refund or chargeback.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller. If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.

Xcgin Minimum deposit

XcginXMFP MarketsOcta
Minimum deposit$250$5$100$100

The minimum deposit required by Xcgin is 250 USD. For the same amount or typically much less, you could open a trading account with a duly licensed broker.

Xcgin Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
XcginNot specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet withdrawal terms.

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US4.99/5$50 Click for a special offerWebsite

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