Markets Xchange Review (2023)

Markets Xchange is a Forex and CFDs broker. The website states that the Company Marshall Islands provides online trading services via its brand “Markets Xchange” and its European billing agent and marketsxchange.com website and domain registrar. It is clear from the owner-company’s name that the broker is registered in the Marshall Islands, however, it claims to be located and authorized in Ireland (they don’t provide the address, but provide multiple British and Irish contact phone numbers). Markets Xchange is not regulated by Ireland’s regulator The Central Bank of Ireland or any other authority.

Moreover, The Central Bank of Ireland has issued a warning against the broker:
“Markets Xchange/Company Marshall Islands is not authorised by the Central Bank as an investment firm, or to provide investment advice. Markets Xchange/Company Marshall Islands has cloned the Central Bank authorisation number of a legitimately authorised entity (of a different name) that has no connection whatsoever to this unauthorised firm.”

Conclusion

As we usually warn, offshore-regulated companies are not the best options to trade with, because of the high risk of losing invested funds. They don’t guarantee and/or provide any protection for their customers. The UK’s FCA, on the contrary, provides the Financial Services Compensation Scheme (FSCS), which guarantees accounts protection in case the broker goes bankrupt. Check the list of the FCA-regulated brokers here.