Attention! Fraud company!
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In an attempt to deceive as many users as possible, scammers use various tricks: they inflate their age, show fake statistics, and offer fabulous earnings. Such swindlers include xTrade. Despite the meager period of activity, this sharaga managed to get negative reviews on the Web. Next, we will tell you how a fake broker deceives users.
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Brief information about “xTrade”
According to legend, xTrade is a company with 15 years of experience that provides high-quality access to financial markets.
Using the Whois service, we checked when the xtrade.so domain was registered. The site started working quite recently - 03/01/2021. This can only mean one thing: scammers are blatantly lying in the eyes from the start.
The xTrade site itself is a platform in which the creators have invested practically nothing. We learned that the cost of a web resource is only 11 rubles!
In light of this, the statistics that the xTrade scammers are trying to sell to naive traders looks ridiculous. For a month of existence, they simply could not acquire so many customers and capital. There is nothing to say about the service for the “five”; enough to look for reviews of breeders on the Internet.
In addition, when checking, it turned out that the xTrade pseudo-broker works from the same IP address as other fraudulent offices - Fina and WFT Global. These splitters work in tandem.
Like other scammers, the creators of the “kitchen” “xTrade” hide their faces. There is not a single word about the team on the site. Reliable brokers do not need to remain anonymous, only scammers are afraid of responsibility for their actions.
The platform says that xTrade is a regulated broker with 16 offices in different countries. At the same time, there is no information about the license on the site: we did not find either a scanned copy or its number. There is also no data on the country of registration, but the scammers indicate the addresses of offices in the UK and Australia.
XTrade did not receive a license from the FCA regulator. Only two organizations are registered in London, but they have nothing to do with the hero of our review.
The Australian ASIC registry found companies with consonant names, but they also have nothing to do with the fake broker. In addition, the address does not match the one indicated on the site.
The xTrade website is available in Russian, which means that the pseudo-broker intends to provide its services to citizens of the Russian Federation. To carry out financial transactions in our country, it is necessary to obtain a license from the Central Bank. Of course, the breeder does not have it. The conclusion suggests itself: xTrade is a fake office, whose activities are not regulated by anyone. It is dangerous to trust charlatans, because if problems arise, it will be impossible to find justice for them.
Often, scammers place on their sites a “Cooperation Agreement”, where they prescribe conditions that are favorable only for themselves. The xTrade scammers were too lazy to do even that. The scammers have no internal legal documents.
What does xTrade offer?
The scammers claim that a trader will be able to earn fabulous money using CFDs on:
- currency pairs;
- indices;
- stock;
- commodities;
- cryptocurrencies.
Sharashkin's office does not provide any information about available accounts. The scammers tell tales of low spreads, multiple trading instruments and multiple business models. You can find out the real conditions offered by xTrade only after registration, indicating personal data.
Judging by the reviews on the Web, this is how often charlatans act, who pass information about the trader to "black" brokers. If you leave information about yourself on “xTrade”, you will be flooded with calls and messages from other scammers.
For trading, the pseudo-broker offers to use the UTIP platform. There are reviews on the Internet about how other pseudo-intermediaries swindle customers with its help. UTIP developers have a share of the fraudulently obtained money, so it is dangerous to trade using this platform.
xTrade scammers lure new victims into their networks with the help of an affiliate program. They offer up to $600 for new clients that the trader brings. Just the same attraction of unheard of generosity.
Overview of feedback from real ex-customers of “xTrade”
The impudent scammers have already managed to "damage" their reputation. Despite the fact that xTrade exists for a week without a year, negative reviews have already appeared about the project. In them, angry ex-clients complain that they cannot withdraw funds from the platform and warn other traders against cooperation with scammers.
xTrade Divorce Scheme
If a potential victim came into the view of a bred, she would have to face incessant calls from office employees. “xTrade” scammers call from different numbers, so adding them all to the blacklist will not work. Managers will "process" the trader, enticing unrealistic profits. If the user does not have money, it does not matter - scammers will helpfully tell you where and how to get a loan as quickly as possible.
All the fun happens after the client replenishes the account. The capital will immediately “settle” in the pockets of scammers, and the necessary numbers will be “drawn” to the trader in his personal account. If the user decides to withdraw funds, they will convince him for a long time, then feed him “breakfasts”, telling tales about technical failures. When the victim is off the hook, judging by the reviews, the scammers block her account and disappear from view.
Summing up the review
xTrade is a typical “kitchen”. The crooks do not have a license and legal documents, they blatantly lie about their work experience, and the reviews on the Web only confirm their fraudulent activities. You should not trust these charlatans, as you risk losing everything to the last penny.
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