Score

1.45 /10
Danger

Xtrade

Belize

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Add brokers

Comparison

Quantity 3

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index6.57

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

More

Company Name

Xtrade international Ltd

Company Abbreviation

Xtrade

Platform registered country and region

Belize

Company website

X

Facebook

YouTube

Linkedin

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away!
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Pyramid scheme complaint
Expose
Scam

On the grounds of illegal IEO arbitrage, yao'qiu'jiao'na high late fees and financial institution code fees, etc.

I recently met a person who claimed to be from the United States and was engaged in currency trading through X. It was recommended to register on the platform: and then this person also recharged 12,000 yuan into my account to get the reward. Recently, I saw that I had made a profit, so I wanted to withdraw the currency. The platform sent me an email to inform me that arbitrage was illegal during the IEO and that I was restricted from paying a fine of 10,067 USDT within 24 hours, and then the account could withdraw coins. If the late payment fee is not paid on time. Forced to have no choice, this person and I spent 4 days raising funds to pay the fine. After the platform informed us that because we were overdue, we needed to pay a late fee of 7.5% of the total daily penalty account amount, which is 3938 USDT (limited to 48 hours). After paying the late fee, the account can be withdrawn freely. If you do not pay on time, you will be charged a daily late payment fee of 5% of the total account amount, and you will have no choice but to purchase coins to pay. I thought I could withdraw coins to pay back to my credit card, but I was told that I could not withdraw coins without a financial institution code and that I needed to pay an additional 2,000 USDT financial institution code fee (limited to 24 hours). I couldn't bear it, so I asked the platform for help. The above deduction funds flow only shows deposits and no deduction records. service@x-tidex-service.com This is the customer service email. Customer service link https://emdbhk.jiweilianmeng.com/web/im?cptid=2b93a01b863b&lng=en&lang=zh&visitor_id=1721922468190658562&visitor_name=Flag@colorflag.cn,

flag582
2023-12-20 21:57
Xtrade · Company summary

General Information & Regulation

Established in 2015, Xtrade is a multi-asset broker which has its headquarters in Belize, as well as a second office in South Africa. The company behind Xtrade is Xtrade international Ltd, not subject to any regulation.

Market Instruments

Xtrade offers traders 56 currency pairs, 16 commodities, five bonds, and five ETFs. The bulk of assets consist of 280 equity CFDs, complemented by 13 index CFDs. The overall selection of 375 assets across six categories remains below average.

Minimum Deposit

Xtrade does not provide any information about its account type. It appears that the same option is available to all traders, from a minimum deposit of $250.

Leverage

When it comes to trading leverage, the maximum trading leverage offered by Xtrade is up to 1:400. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.

Spreads & Commissions

The commission-free trading environment features unacceptably high fixed spreads of up to 5.0 pips on the EUR/USD. It equals a cost of $50 per 1.0 standard lot, making Xtrade one of the most expensive brokers in operation.

Inactivity Fees

Xtrade levies an excessive $50 monthly inactivity fee after three months and a $100 monthly dormant account maintenance fee after twelve months.

Trading Platform Available

The proprietary trading platform, Xtrade WebTrader, is the only one offered by Xtrade. It is also available as a mobile version.

Deposit & Withdrawal

The logos of a series of online payment processors exist on the website, but no further information is available.

Customer Service

Xtrade provides 24/5 customer service via phone, e-mail, and live chat. The FAQ section attempts to answer basic questions, and a glossary is also available. It also features a dedicated complaint resolution process, aiming to deliver exceptional customer service. While Xtrade does not provide response times, it does indicate an effort to assist its traders.

News

NewsWikiFX Review: Is XTRADE a trustworthy broker?

XTRADE is an online forex broker that has been newly established. Although this broker has experience of 1 to 2 years, WikiFX already received complaints against this broker. We wonder if this broker can be trusted. To better understand the truth, WikiFX has made a comprehensive review of this broker by analyzing the reliability of this broker from specific information, regulation, exposure, etc.

WikiFX
2022-08-27 09:00
WikiFX Review: Is XTRADE a trustworthy broker?

NewsThe Rand is bleeding as the dollar's stretch continues.

The rand remains weak versus the dollar, which is strengthening due to fears about slowing global economic growth, increasing interest rates, and conflict threats, resulting in greater market volatility.

WikiFX
2022-05-29 12:00
The Rand is bleeding as the dollar's stretch continues.

User Reviews

More

User comment

0

Comments

Write a review

No comment yet

start to write first comment

3