Forex Broker X Charter Trading Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

1.3

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 1.5

Business 0.8

Risk Control 1.1

Software 1.8

Regulatory 1.3

Terminal Snapshot

X Charter Trading Conditions

Registered Region Belize

Operating Period 2-5 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email xcharter2024@gmail.com

Contact Number N/A

Website www.xcharterfx.com

Balanced Review

Pros & Cons

Pros

Diverse range of trading instruments including Forex, commodities, and cryptocurrencies
Multiple account types catering to different trader levels
Competitive trading conditions with spreads starting from 0.0 pips
Access to advanced trading platform MT5 with comprehensive tools
24/7 customer support available for assistance

Cons

Not regulated by any recognized financial authority
Concerns over safety of client funds
Limited investor protection due to unregulated status
Potential for higher risk of fraudulent activities
Withdrawal fees and processing times not specified

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	X Charter	FBS	Scope Markets	AvaTrade
Operating Period	2-5 years	See review	See review	See review
Region	Belize	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	1.3/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does X Charter Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
Micro Account	Beginners	Low minimum deposit	Suitable for small-capital practice
Standard Account	Moderate Traders	Access to various trading instruments	Ideal for those with some trading experience
X Charter Ultra Low Account	Experienced Traders	Tight spreads	Best for traders seeking low trading costs
Shares Account	Corporate Clients	Custom services available	Requires corporate documentation

Account Opening Process

To open an account with X Charter, traders need to follow several steps. First, personal information, including name, address, and contact details, must be submitted. Next, employment and financial information will be required to gauge the trader’s background. Identity verification is crucial, necessitating the submission of a government-issued ID and proof of address. Once the initial account is set up, there is flexibility to upgrade to a professional account in the future, should the trader meet certain criteria.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (Major Pairs)	From 0.0	$0	Competitive spreads for major pairs
CFDs (Stocks, Indices, Commodities)	Variable	$0	Spreads vary depending on the instrument
Cryptocurrencies (BTC, ETH)	Variable	$0	Dependent on market conditions

Other Fees

Additional costs associated with trading on X Charter may include deposit and withdrawal fees, which are not specified. Traders should also be aware of potential inactivity fees if accounts remain dormant for extended periods. Platform usage fees may apply depending on the services utilized, and overnight interest (swap rates) could affect positions held overnight. Lastly, currency conversion fees may be incurred when trading in different currencies.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

X Charter User Reviews

2.5

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

Jacky4742

Canada

★ ★ ★ ★ ★

A friend online introduced me to this platform. Since late March, I have gradually invested about $260,000. Including profits, my account has nearly reached $300,000. Initially, I was able to withdraw small amounts without issue. However, when I attempted to make larger withdrawals, the platform started refusing with various excuses, demanding risk control fees, security deposits, and taxes. Now, I can no longer contact that friend. I urgently request the platform’s attention and assistance in resolving this matter!

Hugo Moreau

Colombia

★ ★ ★ ★ ★

Overall, this broker has no big problem. Orders executed quickly and their customer support is great. But the only thing that bothers me is the spreads. I need some stability with those spreads, otherwise it’s tough to plan my trades.

Robins Lu

Singapore

★ ★ ★ ★ ★

It wasn’t bad when I traded with this broker—they had low spreads and great customer service. Later, though, I started to feel more pressure to put in more money. That’s not what I earlier thought.

Generation

Malaysia

★ ★ ★ ★ ★

Fast withdrawals, fast deposit, multiple deposit options including crypto. The only problem is most of the time during news release, due to price volatility orders are not filled promptly. Other than that, everything is perfect. Very low commission on XAUUSD and currency pairs, however, I feel commission is slightly higher on indices.

Belize Market