This time, we will review the broker Ixxen, which, according to information from the official website, is located in Canada but operates without a license from regulatory bodies, including Canadian ones. The firm is quite secretive, as it does not disclose its founding date, business model, and other aspects of its activity. Frankly, this looks quite suspicious. And still, can one trust such a platform? How safe is it?

How to Trade

To trade with Ixxen, a minimum amount of $10,000 is required. At the same time, nothing is known about the presence of a demo account, so it seems that such a feature is absent.

Clients have a choice of 6 types of accounts, which differ in minimum deposit and the set of additional services. Ixxen provides access to services:

  • Swap-free option.
  • One-click trading.
  • Financial market coverage and updates.
  • Free educational tools and analysis.
  • Economic calendar.
  • Account manager.
  • SMS & Push alerts.

Ixxen promises not to charge any extra fees and offers leverage of 1:400 and instant order execution. The platform is available not only for browser trading but also for mobile phones.

Ixxen Vital Info

The company’s secrecy and lack of transparency are immediately noticeable. The broker seems to deliberately hide its founding date, so the experience can be determined by the domain registration date. The domain was registered in 2020, but snapshots preserved from the Webarchive service showed that until 2023, it was up for sale. So, Ixxen most likely started serving clients quite recently.

Any brokerage company must obtain a license for its activities. And the more such licenses it has, the more reliable the intermediary is. Does Ixxen have regulation?

A check of the IIROC regulator’s registry, which is responsible for overseeing the activity of brokers in Canada, showed nothing. Therefore, Ixxen does not have a license.


What are the key facts about Ixxen?

Firstly, it's important to highlight the low level of openness and transparency of the company. It hides many important details about itself, but we managed to find out a few things. Firstly, the period of operation is short, as the domain was only purchased in 2023, and reviews only started appearing after that. Secondly, there is no regulation. Licenses are not mentioned on the website, but a check with the Canadian regulator was conducted, and no such organization was found. Thirdly, the broker hides its business model. How are client orders processed? Are they routed to interbank liquidity or providers? No. Instead, they are processed internally on the platform, as it is a dealing desk, which means there is a conflict of interest. Fourthly, the address listed in Canada is likely fake.

What's the risk to my wallet when working with this broker?

The main risk you need to be aware of is illegal operation. Ixxen does not have a license, meaning it operates illegally. Such companies almost always turn out to be fraudulent, so they cannot be trusted. Client funds may be stolen under the guise of account blocking or for another reason. So, the main risk for traders is facing the impossibility of getting their money back.

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