What is Xlence?
Xlence is a forex and CFD broker established in 2003 under the name Tradeco Limited, located in Seychelles. License number SD029 indicates that it is regulated by the Seychelles Financial Services Authority (FSA). However, FSA is an offshore regulator that provides minimal oversight compared to top-tier financial authorities.
About Xlence
Company Name – Xlence (Tradeco Limited)
Website – https://www.xlence.com/en/
Address – F20, 1st Floor, Eden Plaza, Eden Island, Seychelles, Eden Island, Seychelles
Regulatory Warning – Not Recommended By Review Website Like Scams Report
Domain Blacklisted Status – It seems there is no direct mention of this domain being on a blacklist.
Lack of Transparency Raises Concerns
Xlence provides trading in over 300 instruments across 6 asset classes, on MT4 and MT5 platforms. However, there is no verifiable address, and dozens of traders, especially traders from several communities of residence, have allegedly not been able to access trading services. This is a serious red flag.
The brokers are also associated with Damadah Holding Limited, which is purportedly headquartered in Cyprus, according to the Xlence website. However, a search of the CySEC database shows no registration or licensing records, which raises even greater concern about authenticity and transparency.
What Do Reviews Say?
Even though the Xlence com review Trustpilot page has satisfactory ratings, user-generated review content like Xlence com review Youtube is mixed in their take on the experience. Many users complain about late withdrawals and a lack of support, while others doubt whether or not the platform is legitimate.
Final Verdict
Although Xlence appears professional on the surface, inconsistencies in regulatory information and a lack of transparency suggest potential scam risk.
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Disclaimer: This review is based on online reports and customer complaints. Always research carefully before investing with any broker.
