99xTrade

99xTrade is a retail forex and CFD broker that was established in 2023 and is registered in Saint Vincent and the Grenadines. The company's official address is Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and the Grenadines. According to our records, the broker launched in January 2023, although its own marketing materials suggest an earlier start date of 2022.

The broker operates via the website 99xtrade.com and describes itself as an Indian broker with an international reputation. However, its registration in Saint Vincent and the Grenadines places it outside major regulatory jurisdictions. 99xTrade does not hold any financial services license from a recognized regulator, which is a significant consideration for traders.

As per our verified records, 99xTrade has no regulatory oversight from any financial authority. The broker is registered as a business entity in Saint Vincent and the Grenadines, but this registration does not constitute a financial license or regulatory supervision. The absence of regulation means that traders do not have access to typical investor protections such as negative balance protection, compensation schemes, or dispute resolution mechanisms through a regulatory body.

Despite claims on its website of being a 'Safe & Regulated Broker', no specific regulator is named. Our review has been unable to verify any regulatory status beyond the company's commercial registration. Traders should exercise caution and consider the risks associated with unregulated brokers.

99xTrade offers a tiered account structure with six distinct account types. The entry-level Starter account requires a minimum deposit of $250, followed by Bronze at $1,000, Silver at $3,000, Gold at $10,000, Platinum at $50,000, and the VIP account at $100,000. These relatively high minimum deposits, especially for the upper tiers, suggest that the broker targets more capitalised traders.

Maximum leverage information is not explicitly listed in the account tables, but our records indicate the broker offers leverage up to 1:200. The higher-tier accounts may offer additional benefits or tighter spreads, though specific features per account type are not detailed in the available information. The broker's website highlights zero commissions and competitive spreads from 0.0 pips.

99xTrade does not support the widely used MetaTrader 4 or MetaTrader 5 platforms. Instead, it offers the proprietary ХCritical platform. This may be a drawback for traders who prefer the familiarity and advanced tools of MT4/MT5. The platform promises fast execution speeds (under 0.03 seconds) and access to over 300 trading instruments.

The broker lists a range of asset classes including forex, indices, commodities, stocks, and cryptocurrencies. The website divides its offering into categories: Forex, Crypto FX, and Stocks, with each category given a risk rating (medium, high, low respectively). This indicates a multi-asset offering typical of many retail CFD brokers.

Given the high minimum deposits on several account tiers and the unregulated status, 99xTrade is likely aimed at experienced traders who are willing to accept higher risk for potentially higher returns. The VIP account's $100,000 minimum deposit particularly targets high-net-worth individuals. However, the broker also offers a Starter account at $250, which could attract less capitalised traders.

The broker's marketing emphasizes advanced technology, expert analysis, and award-winning research, suggesting it aims to appeal to traders who value tools and educational content. Nevertheless, the lack of regulation and short track record make it a higher-risk choice, especially for beginners.

99xTrade is a relatively new broker, having been founded in early 2023. As a result, it has limited operational history and no independent user reviews are available at this time. Our research team has assigned a Scam Risk Score of 52 out of 100, indicating an elevated risk level. This score reflects the broker's unregulated status, recent establishment, and the absence of verified client feedback.

The broker's claims of being the 'number one in India' and offering industry-first bonuses and insurance are marketing statements that cannot be independently confirmed. Traders are advised to conduct thorough due diligence before committing funds.