ForexQ.com
FINANCIAL INSTITUTION INFORMATION PLATFORM

Review verifiable information about forex brokers, banks, fintechs, crypto exchanges and payment providers in one place.

Verify with the source.Wherever possible, information is matched against official registers and primary sources.
When was it checked?We clearly show when each critical piece of data was last checked.
Know the type of information.We classify user complaints, company statements and official records separately.
RECENTLY ADDED

Recently Added Institutions

The latest institution profiles added to ForexQ.com.

HOW IT WORKS

See the level of evidence
on every institution profile.

Instead of ratings, we show the data, its source and its verification status.

  1. 01Data
  2. 02Source
  3. 03Verification
A

Sample Financial Institution

Broker · United Kingdom

Last checked: 23.09.2026
REGULATIONOfficial record verified

The licence number and scope are matched directly against the regulator’s source.

● Official source
USER FEEDBACKRecurring topics

Topics such as withdrawals, support and trading conditions are grouped by period.

● Verified platform record
COMPANY STATEMENTData disclosed by the company

The company’s own statements are shown separately from independent verification.

● Statement
← Home

Xago

Payment institution · South Africa

About the company

Legal company nameXago Technologies (Pty) Ltd · Xago Australia Pty Ltd
Year founded2016
Headquarters / registered countryCape Town, South Africa
Websitexago.io
Last checked10.10.2026

According to its official website, Xago is a global payments platform founded in 2016 that offers cross-border money transfers to individuals and businesses. Its services are provided by Xago Technologies (Pty) Ltd, based in Cape Town (Claremont); the site states that the company is a licensed crypto asset service provider under the FAIS framework (FSP 53416), holds a virtual asset service provider (VASP) licence in Botswana (11/1/5-005), and that Xago Australia Pty Ltd is registered with AUSTRAC as a digital currency exchange. The firm says it settles transfers within minutes using stablecoins pegged 1:1 to fiat on the XRP Ledger, and offers USDT and USDC support, local settlement in more than 60 countries, liquidity and FX orchestration (Xpand), multi-currency order books and programmatic settlement. Banks, corporates, remittance businesses and payroll are named as target users; pricing is per transaction with no monthly fees. The site states that its services are intended for people with professional experience in crypto asset investments and are not suitable for retail clients. This information is the company's own statement.

Account Details

ACCOUNT TYPESIndividual (KYC) · Business (KYB)
MIN. DEPOSITNot stated
PLATFORMSWeb platform · API
PRODUCTSCross-border money transfer · Stablecoin settlement (USDT, USDC) · Fiat on- and off-ramp · Liquidity and FX orchestration (Xpand) · Automated settlement

Licences and regulation

FSCA (South Africa)

Licence no.FSP 53416
Licence holderXago Technologies (Pty) Ltd
ScopeListed in the FSCA register as an authorised (Authorized) financial services provider under Xago Technologies (Pty) Ltd (FSP 53416); authorised since 12 Sep 2024; approved product classes: crypto assets.
StatusVerified

NBFIRA (Botswana)

Licence no.11/1/5-005
Licence holderXago Technologies (Pty) Ltd
ScopeThe company states that Xago Technologies (Pty) Ltd is licensed in Botswana as a Virtual Asset Service Provider (VASP) (11/1/5-005). This record has not yet been verified in the official register.
StatusPending verification

User complaints

User reports found online are classified by topic. The charts show how reports are distributed; the reports are compiled from records on platforms that verify users and screen out fake reviews.

Period reviewed: March 2024 – October 2026

  • Withdrawal / payment: 1

VERY LOW — COMPLAINT LEVEL

91% of institutions with complaint records received more complaints than this one.

BY TOPIC — Withdrawal / payment: Low

SOURCES REVIEWED

The complaint distribution is based on the 1-star reviews on Xago's Trustpilot page (1) records as of 10 October 2026; one person's reviews count once, and records about fake sites and third parties using the Xago name are left out. Across the complaints, a transfer that was neither forwarded nor returned stand out.

Sources and verification history

Official company sourcesxago.io — homepage and footer (authorisation and licence notice)
Regulator recordsFSCA — Xago Technologies (Pty) Ltd, FSP 53416 (fsca.co.za)
Company registerCIPC (Companies and Intellectual Property Commission) — Xago Technologies (Pty) Ltd, 2016/081177/07
User feedback sourcesTrustpilot · Şikayetvar · WikiFX
Last verified10.10.2026

File a Complaint