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Global Broker Regulation & Inquiry App

Xtrade

Belize
Entry Time 2021-04-13
2021-04-13Input
https://www.xtradeturkiye.com/en
https://www.xtradeturkiye.com/en
Exposure

Time Machine

More
More
2022 years 10 Month
2022-10
Time2022 years 10 Month
Expose
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 After paying the late fee, the account can be withdrawn freely.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.

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