Note: Regrettably, the official website of XINSHENG, namely https://www.xs9999.com/, is currently experiencing functionality issues.
What is XINSHENG？
XINSHENG, based in Hong Kong, is a trading platform that offers MT4 as its main trading platform. With a minimum deposit requirement starting at $200, XINSHENG provides clients with three different account types: mini, standard, and high-end. Each account supports EA (auto trading), allowing traders to automate their trading strategies and execute trades based on predetermined parameters.
However, XINSHENG is associated with the CCGSE, which is suspected to be a clone. Furthermore, the inaccessibility of XINSHENG's official website has raised doubts about the reliability of the platform. Reports of difficulties with fund withdrawals, scams, and severe slippage in trading have also been noted.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
Pros of XINSHENG:
- Multiple account types: XINSHENG offers three different account types, allowing traders to choose the one that best suits their investment needs and trading style.
- Support for automated trading: The platform supports EA (auto trading), which can be beneficial for traders looking to automate their trading strategies and take advantage of algorithmic trading opportunities.
- MetaTrader 4 platform: XINSHENG provides clients with the popular MT4 trading platform, known for its user-friendly interface and extensive technical analysis capabilities.
Cons of XINSHENG:
- CGSE (Suspicious clone): XINSHENG is associated with a regulatory body that has been flagged as a suspicious clone, raising doubts about the legitimacy of the broker.
- Inaccessible website: The official website of XINSHENG is not accessible, which can be concerning as it limits users' ability to access their accounts and make trades.
- Issues with fund withdrawals: Reports of difficulties with withdrawing funds from accounts have been raised, indicating potential challenges for clients looking to access their profits.
- Scam and slippage concerns: There have been reports of scams and severe slippage in trading on the XINSHENG platform, highlighting potential risks associated with investing with the broker.
Is XINSHENG Legit or a Scam？
The China Hong Kong Chinese Gold and Silver Exchange Society (“CGSE”) (License Type: Type AA License license number: 081) associated with this broker is believed to be a clone, which is a serious red flag for potential investors. This raises concerns about the legitimacy of the broker and the security of funds.
Furthermore, the fact that the official website of this broker is inaccessible is troubling. A reliable trading platform should have a functioning website that allows users to easily access their accounts and make trades. The lack of access to the website suggests potential technical issues or even a potential scam.
Additionally, there have been reports of customers facing difficulties with withdrawing funds from their accounts, as well as instances of scams and severe slippage in trading. These issues indicate a higher level of risk for investors who choose to engage with this broker. When considering investing with this broker, traders must be cautious due to the concerns surrounding the legitimacy of their licensing and operations, as well as the reported issues with their trading platform and customer experiences.
Account Types
XINSHENG offers three types of trading accounts: mini, standard, and high-end. The mini account requires a minimum deposit of $200, the standard account requires a minimum deposit of $1,000, and the high-end account requires a minimum deposit of $10,000.
All three accounts support EA (auto trading), which allows traders to automate their trading strategies and execute trades automatically based on pre-set parameters. This can be a useful feature for traders who prefer a hands-off approach to trading or who want to take advantage of algorithmic trading opportunities.
Trading Platforms
XINSHENG offers the popular MetaTrader 4 (MT4) trading platform for its clients. MT4 is known for its user-friendly interface, advanced charting tools, and extensive technical analysis capabilities, making it a popular choice among traders of all levels of experience. The platform allows for real-time monitoring of market conditions, the execution of trades, and the implementation of various trading strategies.
One of the key features of the MT4 platform is its support for automated trading, through the use of Expert Advisors (EAs) and customizable indicators. This allows users to create and implement their own automated trading strategies, or choose from a wide range of pre-existing EAs available in the MT4 marketplace. This can help traders take advantage of market opportunities even when they are unable to actively monitor the markets.
Additionally, MT4 offers a wide range of order types, including market orders, limit orders, and stop orders, allowing for flexibility in trade execution. The platform also provides access to historical data, economic calendars, and news feeds, which can help traders make informed decisions based on market trends and events.
User Exposure on WikiFX
On our website, you can see that reports of unable to withdraw, scams and severe slippage. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Customer Service
Customers can get in touch with customer service line using the information provided below:
Telephone: 400-666-8236/ 00852-23919633
Email: xs9999.com.hk@gmail.com
Conclusion
In conclusion, while the multiple account types and support for automated trading will be appealing to some traders, the regulatory concerns, inaccessible website, issues with fund withdrawals, and reports of scams and severe slippage in trading raise red flags about the reliability and safety of investing with XINSHENG.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
2023-01-08 23:07
2022-12-14 10:58
