Rumors or Reality? XEROMARKETS is on the verge of Collapse

There is a rumor said XEROMARKETS, an online forex broker, is about to close its operation without publicly informing its customers. This article is to go deep into this broker.

If you want to know more information, you can check the article via this link.

FROM XEROMARKETS TO ZERO

According to the report, XERO Markets recently declare bankruptcy, and a lot of traders who use this platform are starting to worry. In addition, this broker has been given a low score by WikiFX and we also received a lot of complaints against this broker. Be careful!

Exposure 2023-05-06

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About XEROMARKETS

Xero Market is a relatively young forex broker. The company was founded in 2017 and is registered under the jurisdiction of Saint Vincent and the Grenadines. XeroMarket is focused on the Asian market. This broker has been given by WikiFX a low score of 1.93/10. And we can see that this broker does not have a regulatory license, which makes us doubt its reliability.

Rumors or Reality

Recently, XEROMARKETS has been accused of running away without paying the clients money. This broker reportedly had a secret meeting, During the meeting, XEROMARKETS claimed that the company will be closed on May 14, 2023, and all staff will be “released” within 2 weeks. In addition, the CEO of this broker will liquidate all assets in the XEROMARKETS accounts and pay the withdrawal of all clients in a staggered manner but the date has not been announced yet.

If we check on social media, we can see a lot of people unsatisfying with XEROMARKETS. WikiFX also received complaints about this broker. See below.

(The risk of trading on a platform that has no authority supervision. In fact, it's the same as his MO, he went to an outside broker, ran business for a few years, then disappeared.)

On Twitter, one investor named Nor Azam Budin claimed that XEROMARKETS is a broker without regulation, and it seems a non-permanent platform.

Many scam brokers are likely to scam investors‘ money and then abscond with the investors’ money.

(If the $200 deposit is lost, it's ok, but if the deposit is above $2k, it's done)

(I joined these things in 2016. I've already lost tens of thousands, including rolling money haha. But unfortunately, the admin has already run away, even after changing the name, many have joined back.) This investor claimed that she invested in the broker in 2016. And the broker absconds with the money.

When we open the website of this broker, we can see that this broker has used MT5 as its main trading platform.

(Seriously. Even though I just changed to MT5.)

There is More

Protecting the legitimate rights and interests of forex traders are always the primary concern of WikiFX. WikiFX will keep track of XEROMARKETS to find the latest news. Please stay tuned for more information.

If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!