XP BEE is a CFD broker registered in Saint Vincent and the Grenadines, with its registration date being July 14, 2023. The broker mainly offers users access to a wide range of trading markets through the cTrader trading platform and its corresponding mobile apps, including forex, metals, indices, energy, cryptocurrencies, stocks, ETFs, and more.
Company Registration Information and Regulatory Status:
Public information on the XP BEE official website shows that its business entity registered with the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) is XPbee Trading LLC, with a registration number of 3145, and its registered address is Suite 305, Griffith Corporate Centre, Beachmont, Kingstown.
Upon verification, the SVGFSA official website lists a business entity named XPbee Trading LLC with the registration number 3145. While SVGFSA allows registered Saint Vincent and the Grenadines commercial companies (BC) or limited liability companies (LLC) to engage in any lawful activity, it does not regulate forex trading brokerage activities. Therefore, XP BEE is actually an unregulated scam brokerage website.
Furthermore, according to information obtained through a Whois query, the brokerage's official website domain was registered on July 19, 2023.
Account Opening Process:
The account opening process at XP BEE: Open the broker's official website homepage, click "Start trading now" or "Sign up" at the top right corner of the page, enter personal information such as name, email address, and set a login password before submitting. After submission, you will be redirected to a verification page, where the broker will send a verification code to the user's email. Once the code is submitted, the account registration will be successful.
Trading Options:
XP BEE offers users three different types of trading options: Standard, VIP, and Kas-Traders.
Standard account trading fees:
- Forex: $90 per million US dollars in trading volume
- Spot metals: $13 per lot trading fee
- Spot energy: $13 per lot trading fee
- Indices: $13 trading fee per lot in quoted currency
- Cryptocurrencies: 0.45% of trade volume
- US stocks: 0.65% of trade volume
- European stocks: 0.65% of trade volume
- Asian stocks: 0.65% of trade volume
- ETFs CFD: 0.60% of trade volume
- NDF: None
- Internal commission dynamic discount: None
VIP account trading fees:
- Forex: $74 per million US dollars in trading volume
- Spot metals: $10 per lot trading fee
- Spot energy: $10 per lot trading fee
- Indices: $10 trading fee per lot in quoted currency
- Cryptocurrencies: 0.35% of trade volume
- US stocks: 0.60% of trade volume
- European stocks: 0.60% of trade volume
- Asian stocks: 0.60% of trade volume
- ETFs CFD: 0.60% of trade volume
- NDF:
- Dynamic discount for commissions in group: 1% discount for $100,000.00 in trading volume; 2% discount for $500,000.00 in trading volume; 1% discount for $1,000,000.00 in trading volume
Kas-Traders account trading fees:
- Forex: $85 per million US dollars in trading volume
- Spot metals: $10 per lot trading fee
- Spot energy: $10 per lot trading fee
- Indices: $10 trading fee per lot in quoted currency
- Cryptocurrencies: 0.35% of trade volume
- US stocks: 0.60% of trade volume
- European stocks: 0.60% of trade volume
- Asian stocks: 0.60% of trade volume
- ETFs CFD: 0.60% of trade volume
- NDF: None
- Internal commission dynamic discount: 1% discount for $100,000.00 in trading volume; 2% discount for $500,000.00 in trading volume; 1% discount for $1,000,000.00 in trading volume
Trading Platform:
XP BEE offers the cTrader trading platform to its users.
Deposits and Withdrawals:
XP BEE supports deposits and withdrawals using credit/debit cards, e-wallets, and bank transfers.
Conclusion:
Traderknows reminds investors that XP BEE is essentially a fraudulent broker website that operates without any regulation. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation for their trading activities to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
