Xnova is an online trading platform claiming to offer a wide range of trading services. Its domain was registered on November 14, 2022, with a registration address of 16 Cavalli Road, Long Bay, Auckland, New Zealand. Although Xnova claims to be regulated by several international financial regulatory bodies, actual inquiries show that the platform has not obtained a valid derivatives provider license. The official website of Xnova is: https://www.westfffx.com/
Xnova's Corporate Background:
The domain of the Xnova platform was registered on November 14, 2022, with the registration address at 16 Cavalli Road, Long Bay, Auckland, New Zealand, 0630. The company's registration date is August 6, 2021.
Xnova's Regulatory Information:
Xnova Broker Limited is regulated by the New Zealand Financial Service Providers (FSP), the Saint Vincent Financial Services Authority (FSA), and the National Futures Association (NFA) in the United States. We found the corresponding company name only under the New Zealand Financial Service Providers registry, but it has not obtained a derivatives provider license issued by the New Zealand FMA. Hence, it is confirmed to be an unregulated platform. Please do not deposit or trade.
Xnova's Account Registration Process:
- Log in to the Xnova official website and click the registration button
- Fill out the application form
- Submit identity verification/my number verification documents
- Deposit funds and start trading
Xnova's Account Types:
Xnova Plus+ Account:
- Suitable for: High-volume traders
- Spreads: Raw spreads starting from 0.0 pips
- Commission: None
- Leverage: 500:1
- Available base currencies: AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD
Standard Account:
- Suitable for: All types of traders
- Spreads: Ultra-low spreads starting from 1.0 pips
- Commission: From $5 per lot
- Leverage: 500:1
- Available base currencies: AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD
Xnova offers two account types to cater to different traders' needs. The Xnova Plus+ account provides high-volume traders with ultra-low raw spreads and zero commission, while the standard account offers ultra-low spreads and moderate commissions suitable for all types of traders. Both accounts offer leverage up to 500:1 and support multiple base currencies.
Xnova's Trading Platforms:
Xnova offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are highly popular trading systems, featuring robust functionality and flexibility to meet various investors' needs and preferences. The MetaTrader platforms provide extensive analytical tools, charts, and automated trading capabilities, enabling traders to effectively execute various trading strategies.
Xnova's Trading Products:
Forex CFDs: Over 50 currency pairs with competitive spreads.
Stock CFDs: 200+ Australian stocks, 80+ US stocks, and 70+ Hong Kong stocks.
Indices CFDs: Trade popular indices like FTSE 100, CAC 40, US 500, and ASX 200.
Precious Metals CFDs: Trade without owning physical metals, with opportunities for both long and short positions.
Commodity CFDs: Resources like oil and precious metals.
Treasury CFDs: Treasury CFDs are a financial derivative that allows investors to profit from speculating on the price movements of government bonds without holding the actual bond.
What are Xnova's Leverage and Commissions?
Xnova offers two account types: the Xnova Plus+ account and the standard account. The Xnova Plus+ account is suitable for high-volume traders, offering raw spreads from 0.0 pips, no commission, and leverage up to 500:1, supporting multiple base currencies. The standard account is suitable for all types of traders, with spreads starting from 1.0 pips, a commission of $5 per lot, and the same high leverage of up to 500:1, supporting multiple base currencies. Overall, both accounts offer highly competitive spreads and high leverage, but they differ in commission structures.
What are Xnova's Deposit and Withdrawal Methods?
Xnova's deposit and withdrawal methods are not specifically detailed on its official website. Generally, traders may be able to use various common payment methods for deposits and withdrawals, including bank transfers, credit cards, and e-wallets.
Xnova's Customer Support:
Email:support@westfxtrader.com
Phone: +64 98130370
Conclusion:
Xnova offers a variety of trading products and account types designed to meet the needs of different investors. However, its regulatory information is not transparent, so investors should exercise caution and ensure they understand all potential risks before choosing this platform for trading. It is crucial to choose a platform with legitimate regulation to ensure the safety of funds. Xnova is marked as "Suspected Fraud" on TraderKnows.
