xDirect Review

About xDirect

xDirect (Xeta Direct Ltd.), registered at 2nd Floor, Transpacific Haus, Lini Highway, Port Vila, Republic of Vanuatu, claims to hold license number 14652 issued by the Vanuatu Financial Services Commission (VFSC) as stated in its brokerage agreement and regulatory disclosures.

According to VFSC’s Financial Dealers License List dated October 17, 2022, xDirect (license 14652) is not present in the current registry, indicating the license is not active or valid.

xDirect provides trading in Forex, CFDs on commodities, indices, metals, energy, agricultural products, and cryptocurrencies. Commodities access includes markets such as CBOT, NYMEX, ICE, and LME, with leverage up to 1:66, over 20 commodity products, no overnight commission, and automatic contract rollover with swap adjustments.

The broker offers MetaTrader 4 (MT4), WebTrader, mobile platforms (iOS/Android), and a proprietary web platform. It supports UAH-denominated accounts with minimum deposit starting from UAH 3,000 (approx.), spreads from 0.6 pips, leverage up to 1:200, 24% annual interest on idle funds for accounts over UAH 100,000, instant UAH deposits/withdrawals, and segregation of client funds in AAA-rated banks. xDirect is a member of the European Business Association (EBA) and states adherence to MiFID standards.

Pros and cons

Pros

• Wide range of assets: Forex, commodities, indices, metals, agricultural products, cryptocurrencies.
• Trading platforms: MT4, WebTrader, mobile apps, proprietary platform.
• UAH-denominated accounts with quick local transfers and no conversion fees.
• Competitive conditions: spreads from 0.6 pips, leverage up to 1:200, interest on idle funds, rollover compensation mechanism.
• Claims of fund segregation in AAA-rated banks and adherence to MiFID standards.

Cons

• No active regulation: license number 14652 is absent from VFSC’s current register, indicating lack of regulatory oversight.
• Regulatory claim is invalid, which raises credibility and safety concerns.