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    Xtrade

    • Australia Australia
    • 10-15 years
    • Regulated in Australia
    • Market Making(MM)
    • Non MT4/5 Software
    • Suspicious Scope of Business
    Open Account
    WikiFX Score
    Comparison

    The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!

    VPS Standard

    No restriction on the broker account. Provide service support by WikiFX

    • Single Core

    • 1G

    • 40G

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    Broker Information

    Company Name

    XTRADE.AU PTY LTD

    Phone of the company

    85258080622

    Customer Service Email Address

    info@xtrade.com

    Company address

    35 New Road, 2nd floor flat, Belize City, Belize

    Pyramid scheme complaint
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    WikiFX Risk Alerts 4
    2022.05.23

    The number of the complaints received by WikiFX have reached 17 for this broker in the past 3 months, please be aware of the risk and the potential scam!

    The CyprusCYSEC regulatory (license number: 108/10) claimed by this broker is a suspicious clone, please be aware of the risk!

    • Account
    Comparison
    • VIP
    • Platinum
    • Premium
    • Standard
    • Benchmark --
    • Maximum Leverage --
    • Minimum Deposit $20000
    • Minimum spread --
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    • Minimum Deposit $5000
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    • Minimum Deposit $250
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    • EA supported
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    Scam

    Xtrade's scam

    I made a deposit of USD 500 on 2021/6/17. I wanted to give it a try, and then the investment manager said that he would take me step by step to use the tool. He still say that Ihave no experience at all. It doesn't matter that he will teach me, but he said that his method is to make me earn some small income. He also said that if I want to make a lot of large sums of money, it is less suitable for him, and then he introduced me another deposit of USD 4,500, a total of $5,000. I foolishly thought that I could make money. The first few times he asked me to buy, I made a profit. Once he asked me to buy, I went all the way down. I was scared to find him and got nothing. After 2 days, I lost more than 3,000. He finally replied, saying that I don’t need to worry. I bought 2 more times. I don’t doubt that I trust him. As a result, I had liquidated more than -7000 positions within 25 minutes and was forced to liquidate a sum of USD 5,555. Later, I couldn’t find the manager anymore. He didn't read anything, and didn't answer the phone. I realized that I was scammed! I actually believe that he said that as long as I make money, he will make money too! Even if he lie to me, we lie to the new users. Finally you couldn’t bear it! I haven’t made any withdrawal yet, because I have seen a lot of comments about Xtrade saying that it is difficult to make withdrawals. I used a credit card to deposit funds. I think my withdrawal should be delayed by that time, or I will be unable to withdraw like everyone else. I sincerely hope that everyone will choose a good platform and a formal platform without scams.

    FX3051295126

    2021/7/17 0:18:17

    Taiwan
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    Brokers AS THE NAIRA WEAKENS, BDC OPERATORS DEMAND A FRESH FOREX WINDOW. IN NIGERIA, WHO ARE BDC?

    According to research, the Bureau De Change [BDC] can be seen as a firm that is licensed to provide small-scale foreign exchange services in Nigeria and whose primary purpose is to do such activity on a stand-alone basis.

    WikiFX
    2022/5/23 7:37:38
    AS THE NAIRA WEAKENS, BDC OPERATORS DEMAND A FRESH FOREX WINDOW. IN NIGERIA, WHO ARE BDC?
    Brokers Enjoy Xtrade's Unique Welcome Package

    Unique Welcome Package

    WikiFX
    2021/12/16 2:40:55
    Enjoy Xtrade's Unique Welcome Package
    Brokers XTrade Review (2021)️ Is Xtrade Scam or Legit Broker

    Read our in-depth Xtrade Review 2021 covering Xtrade licenses, forex spreads, trading leverage, deposit & withdrawal and user reviews.

    WikiFX
    2021/12/14 7:30:25
    XTrade Review (2021)️ Is Xtrade Scam or Legit Broker

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    Australia Securities & Investment Commission

    Australia Securities & Investment Commission (ASIC)

    The Australian Securities and Investments Commission (ASIC) is an independent Australian government body that acts as Australia's corporate regulator, which was established on 1 July 1998 following recommendations from the Wallis Inquiry. ASIC's role is to enforce and regulate company and financial services laws to protect Australian consumers, investors and creditors. ASIC's authority and scope were determined by the Australian Securities and Investments Commission Act, 2001.

    • Licensed Institution :

      XTRADE.AU PTY LTD

      Effective Date :

      2010-04-12
    • Email Address of Licensed Institution :

      anthonyan@xtrade.com

      License Type:

      No Sharing
    • Website of Licensed Institution :

      --

      Expiry Date :

      --
    • Address of Licensed Institution :

      Suite 1 Level 2, 424 St Kilda Road, MELBOURNE VIC 3004

      Phone Number of Licensed Institution :

      03 9088 1303
    • Licensed Institution Certified Documents :

      Annex1 Annex2 Annex3 Annex4 Annex5
    Financial Services Commission

    Financial Services Commission (FSC)

    The Financial Services Commission (FSC) is the regulatory body for non-bank financial services in Belize, particularly for those services provided by entities licensed or registered under the Financial Services Commission Act, Cap. 272 and the Securities Industry Act, 2021 (SIA). The Financial Services Commission (FSC) is a independent self-financing statutory body that provides service oriented, continuous, risk-based approach regulation, that is built on integrity, accountability, adaptability & reliability.

    • Licensed Institution :

      XTRADE INTERNATIONAL LTD.

      Effective Date :

      --
    • Email Address of Licensed Institution :

      financialaren5@gmail.com

      License Type:

      No Sharing
    • Website of Licensed Institution :

      http://www.xtrade.com

      Expiry Date :

      --
    • Address of Licensed Institution :

      No. 35 New Road, 2nd Floor Flat, Belize City, Belize C.A.

      Phone Number of Licensed Institution :

      501-223-6910
    • Licensed Institution Certified Documents :

      Annex1 Annex2 Annex3 Annex4 Annex5 Annex6
    Cyprus Securities and Exchange Commission

    Cyprus Securities and Exchange Commission (CYSEC)

    The Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. It is an independent public supervisory Authority responsible for the supervision of the investment services market, transactions in transferable securities carried out in the Republic of Cyprus and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.

    • Licensed Institution :

      XTrade Europe Ltd

      Effective Date :

      2010-01-14
    • Email Address of Licensed Institution :

      regulatory.compliance@xtrade.com

      License Type:

      No Sharing
    • Website of Licensed Institution :

      www.8invest.com,offersfx.com

      Expiry Date :

      --
    • Address of Licensed Institution :

      140, Vasileos KonsTanTinou, ToFias BuildinG 2, CY-3080 LiMassol

      Phone Number of Licensed Institution :

      +357 25 030 476
    • Licensed Institution Certified Documents :

      Annex1 Annex2 Annex3

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    Xtrade

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    WikiFX·pyramid scheme complaint
    1  Know about pyramid scheme  >
    2  Pyramid scheme complaint   >
    3  Done
    1. What is pyramid scheme complaint?
    With the continuous development of the forex market, more and more Ponzi schemes have poured in, and global investors have suffered greatly. WikiFX has set up a complaint channel in order to ensure the funds security and prevent more scams. We sincerely invite foreign exchange investors to report such fraud platforms and jointly purify the market environment!
    2. 10 Features of Pyramid Scheme
    High Profit Promised Level Marketing Required Multi-level Marketing False Advertising Master Trader Awarded 'Datuk' Brainwashing-style training Fake Regulation Copycat of other platforms Marketing & PR campaigns
    Report immediately
    Report This Platform
    Xtrade
    * Contact number
    0086
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    *Reporting Reasons

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    Xtrade · Company summary

      General Information & Regulation

      Xtrade International Ltd (ex. Financial Arena Ltd), with registered address, 35 New Road, 2nd floor flat, Belize City, Belize, is authorised and regulated by the International Financial Services Commission in Belize, with License No. 000281/194 and provides financial services under companys scope of activity. Xtrade International Ltd client transactions are being processed by Reituca Marketing Ltd with registration no. HE231803 registered at Stasinou & Ag.Elenis 2, 1060 Nicosia. XTRADE.AU PTY LTD is authorized and regulated by the ASIC in Australia,with regulatory license number 343628.

      Market Instruments

      Xtrade provides investors with mainstream and tradable financial instruments in the global financial markets, including CFDs, indices, commodities, foreign exchange, stocks, ETFs, bonds, etc.

      Xtrade Minimum Deposit

      Xtrade has set up four account types, namely Standard (minimum deposit of $250), Premium (minimum deposit of $1,000), Platinum (minimum deposit of $5,000), and VIP (minimum deposit of $20,000).

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      Leverage

      The maximum leverage for Forex is 1:400 for major currency pairs, 1:250 for minor currency pairs, and 1:100 for low volume currency pairs. 1:50 to 1:200 for commodities, 1:50 to 1:300 for indices products, 1:10 for stocks, also 1:10 for bonds, and 1:10 to 1:50 for ETF products.

      Xtrade Spreads & Commissions

      Only spreads are charged when trading on this platform. Forex spreads for major currency pairs are 5 pips for EUR/USD and 1 pip for minor currency pairs. The spread for XAUUSD is 6 pips, for XAGUSD 3.6 pips, and for natural gas 3.4 pips. Index products have a spread of 6 pips for the Russell 2000 and 3 pips for the US 500. The minimum spread for bond products is 2.2 pips and for ETF products is 2.1 pips.

      Trading Platforms

      Xtrade's trading platform, Xtrade WebTrader, is a browser-based web platform that makes it easier for traders to browse the best market analysis available and execute trades and orders quickly and easily, with no downloads required. The mobile application features an intuitive multi-asset application that includes full functionality for all major technical indicators and a wide range of tools for real-time charting. In addition, a tablet trading application is supported, which features an advanced graphical interface for fast trading and deposit, full activity reports, intuitive navigation, and alert settings.

      Deposit & Withdrawal

      Xtrade welcomes several deposit and withdrawal methods, mainly credit/debit card deposits and bank transfers. The company does not charge users for accessing funds, but banks and transfer banks may charge related processing fees, which are the responsibility of the user. If the user opens a position, the full available amount cannot be withdrawn. The margin needs to be maintained at a minimum amount: (available margin - maintenance margin) + margin ≥ 1% = maximum withdrawal amount.

       Customer Support

      XTrade provides also multiple support that increases the trading experience. Traders can reach out customer team through live chat, email or phone lines, also due to international coverage, there is multilingual support and centers that run 24/5.

      Educational Resources

      Traders are able to develop trading skills and strategies with professional trading tools, along with educational resources and daily market reviews, which makes it possible for beginners to join as well. In addition, there is an economic calendar, analysis tools and News feed inbuilt into the platform, daily analysis video and other education support essential for everyday trading.

    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.