Desk file · 2026 edition · record confidence: high
Xtrade
We opened the file on Xtrade the way we open every file: register first, marketing never. Trading since , run out of Sofia, Bulgaria (EU entity Up Trend Ltd, UIC 121527003; group footer also lists a Cape Town office), and carrying 5 licence entries on the public record, 0 of them tier-1.
What the two desk scores say
Both are out of 10 and both are computed, not felt.
| Cost score | Priced off the spread basis below, not off a headline rate card. | not verified |
|---|---|---|
| Safety score | Weighted on licence tier and on how many of the entries we could re-read at source. | not verified |
| Cost per 10 lots | Ten round-turn EUR/USD lots priced at the spread basis, commission excluded. | $not verified |
Spread basis. . Nothing on this page is a live quote; a spread printed on a Tuesday afternoon is not the spread you get thirty seconds after a non-farm payroll release.
Licence entries, one row per entity
Every row links to the document we read it from.
| Regulator | Licence no. | Jurisdiction | Tier | Licensed entity | Source |
|---|---|---|---|---|---|
| FSC Bulgaria | RG-03-110 | Bulgaria | T2 | Up Trend Ltd | xtrade.com |
| FSC Belize | 4705379 | Belize | T3 | Xtrade International Ltd | xtrade.com |
| FSA Seychelles | SD203 | Seychelles | T3 | WizBrokers Limited | xtrade.com |
| FSCA | FSP44681 | South Africa | T2 | Peak Wealth PTY Ltd | xtrade.com |
| Offshore Finance Authority of Anjouan (Comoros) | L15808/BC | Anjouan, Union of Comoros | T3 | Blacsley Como Ltd | xtrade.com |
Which entity actually holds your money is decided at signup, by the country on your application — not by the strongest licence in this table. Read the client agreement you are handed, then match the entity name against the row above.
What we were able to confirm
Confirmed at source
- ASIC cancelled the AFS licence of XTradeau Pty Limited (media release 24-122mr, 2024) after an investigation found vulnerable clients were encouraged to trade CFDs they could not afford; an AAT stay application filed 29 April 2024 was refused.
- xtrade.com's own licences page names Up Trend Ltd (UIC 121527003, Sofia) as licensed by Bulgaria's Financial Supervision Commission under licence RG-03-110, operating as an EU investment intermediary under MiFID II.
- The same page states the Seychelles entity WizBrokers Limited (company registration 8436587-1, FSA licence SD203) does not offer services to residents of the USA, Canada, Iran, North Korea, Europe and the UK.
- The FSA Seychelles securities-dealer register lists WizBrokers Limited, trade name Xtrade, registered at Azores Building, Ile du Port, Mahe.
- Loss-rate warnings on xtrade.com state 83.5%-85.5% of retail investor CFD accounts lose money depending on the regional entity.
Not verified
The following could not be traced to a primary source at the time of filing. We publish the gap rather than a number that would look tidier:
- founded: founding year not verified from a primary source
- minDeposit: not verified from an account-spec page (footer '$0.00 register' treated as marketing)
- maxLeverage: not verified from a legal/account page
- spreadEurusd: not verified
- accountTypes: not verified from a spec page
- segregatedFunds / negativeBalanceProtection: client agreement PDFs not extracted
- publiclyListed: no listing status verified
- hq: brand-wide HQ not established; Sofia address is the EU entity's registered office
| Founded | |
| Head office | Sofia, Bulgaria (EU entity Up Trend Ltd, UIC 121527003; group footer also lists a Cape Town office) |
| Minimum deposit | not verified |
| Leverage cap | |
| EUR/USD | not verified pips |
| Tier-1 entries | 0 |
| Record confidence | high |
Platforms and account types on file
Platforms
Account types
Markets
Other records open on the desk
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A desk file is a record of what the public register said on the day we read it, not a recommendation to open an account.