Beware! XCY Global 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.


According to the XCY Global website, this is a dream broker: trusted, established, reputable, regulated and award-winning. But even a basic inspection of the facts shows that none of this is true. This website is nothing more than yet another online scam, targeting people without sufficient experience and knowledge of the financial markets. Let’s take a closer look at why it is advisable to stay away from XCY Global.

XCY Global Regulation and safety of funds

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

According to the website, the company behind this broker is XCY Global Ltd, which is headquartered in London and has branches in the United States. But XCY Global  does not provide a contact address or details of a regulatory licence. There is no Client Agreement or Terms and Conditions on the website.

If a financial services provider is legitimate, you will find on its website clear and detailed information about the company that owns and operates it, where it is based, and what licences it has. Genuine brokers also provide access to 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.

A check of the UK financial authorities’ records led us to an express warning that XCY Global  was not an authorised broker.

If you want to trade on financial markets without being scammed, you can turn to some of the legitimate brokers that actually operate from established financial hubs like the UK. These brokers have to meet stringent requirements for financial stability and transparency of operations imposed by the Financial Conduct Authority (FCA). They must provide clients with negative balance protection and to participate in a guarantee fund that covers up to GBP 85,000 of a client’s investment should the broker go into insolvency. These brokers are also required to keep their clients’ money segregated from their own operating funds in separate bank accounts.

XCY Global Trading software

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

XCY Global has basic web-based trading software. Here is how it looks like:

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.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

XCY Global Trading instruments

XCY Global
FP MarketsYesYesYesYesYes

The XCY Global  trading software includes forex, cryptocurrencies, metals, oil and CFDs on indices. As stated, this trading is undoubtedly rigged. But in addition, brokers who are really based in the UK cannot offer cryptocurrency trading to retail clients. So this also exposes XCY Global as a scam.

XCY Global Spreads and cost of trading

XCY GlobalXMFP MarketsOcta
Spread EURUSD00.61.20.9
Spread GBPUSD01.31.5x
Spread USDJPY01.31.5x

XCY Global does not provide information on trading price and most other parameters. While we see zero spread on the trading platform, we don’t know what commissions this shady broker charges.

When you visit the website of a legitimate broker you will find proposals for different types of trading accounts suitable for investors with different preferences, as well as detailed descriptions of trading parameters – minimum deposit, order execution method, tradable financial instruments, leverage, spread, swap, commissions, etc.

XCY Global Maximum leverage

XCY Global 500:1100:110:1100:1100:1
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

XCY Global advertises leverage between 1:100 and 1:500, which again is proof that this is not a regulated broker. 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. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets. The same rules currently apply to Australia. In the US, the maximum limit is slightly higher at 1:50.

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.

XCY Global Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Bank wire2-5 business days2-5 business days$25+
Credit cardInstant24 hoursFree
PayPal1 hour24 hours2%
Skrill1 hour24 hours2%
Neteller1 hour24 hours2%
Crypto24 hours24 hoursFee depends on crypto

At the time of writing this review we were unable to access the deposit menu. Experience has shown that fraudsters direct their potential victims to cryptocurrency transactions that do not allow refunds to be requested.

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.

XCY Global Minimum deposit

XCY GlobalXMFP MarketsOcta
Minimum depositN/A$5$100$100

The leading brands in the industry offer beginner traders starter accounts with a very low minimum deposit. You have no good reason to take chances with shady brokers like XCY Global.

XCY Global Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
XCY Global Not specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

Since XCY Global does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.

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