Abstract:Registered in 1995 in Malaysia, XO is an unregulated brokerage, and its official website is currently inaccessible. It is flagged as a scam.
Registered in 1995 in Malaysia, XO is an unregulated brokerage, and its official website is currently inaccessible. It is flagged as a scam.
XO is an unregulated platform, which means it lacks regulatory oversight. The platform could potentially run away with funds at any time, making it impossible for investors to recover their money. Trading on unregulated platforms carries high risks, and investors need to exercise caution.
Downsides of XO
Historical user feedback indicates that invested funds could not be recovered and withdrawn, which is a red flag for traders.
On WikiFX, “Exposure” is posted as a word of mouth received from users.
Traders are encouraged to review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.
As of now, there were 2 pieces of XO exposure in total. The details are as follows:
Exposure 1.Fund Fraud
Classification | Fund Fraud |
Date | 2021-08-08 |
Post Country | Colombia |
The user reported that after investing $20,000, the platform can't be loggin again, and the funds could not be recovered.
Exposure 2.Fraudulent Operations
Classification | Fraudulent Operations |
Date | 2021-08-08 |
Post Country | Colombia |
The user reported that the platform's operators deceived them into continually increasing their position, resulting in significant losses. The platform initially agreed to provide compensation, but now all related personnel have gone dark, and the account has been frozen.
XO is flagged as a scam because of its lack of regulatory oversight and the fact that its website is inaccessible. Historical user feedback indicates that invested amounts could not be recovered. It is not recommended to use this platform for trading. Investors should choose regulated trading platforms to ensure trading safety.
Saxo Bank closes its Hong Kong and Shanghai offices, shifting focus to Singapore as geopolitical and business changes impact its strategy in the Asia-Pacific.
This article outlines he most recent list of unlicensed brokers flagged by the FCA from September 23 to 27.
The Cyprus Securities and Exchange Commission (CySEC) has introduced a new investor protection campaign aimed at addressing the growing impact of social media and financial influencers, or "finfluencers," on investment decisions.
In the fast-paced world of online trading, selecting a trustworthy broker is essential. AIFactor, an alleged scam broker, has recently raised red flags among investors due to its suspicious activities and lack of transparency.