Abstract：Did you witness an opposite market movement to the candlestick chart shown on the XTrend Speed platform? Were your profits being allegedly cancelled by the South Africa-based brokerage firm? Faced losses due to incorrect trigger of limit order on the XTrend Speed login? Did the broker cancel your multiple withdrawal requests? Many traders have reportedly raised these issues on broker evaluation platforms such as WikiFX. This XTrend Speed review examines user-reported allegations and shares an outlook on the regulatory status.
Did you witness an opposite market movement to the candlestick chart shown on the XTrend Speed platform? Were your profits allegedly cancelled by the South Africa-based brokerage firm? Did you face losses due to an incorrect trigger of a limit order on the XTrend Speed login? Did the broker cancel your multiple withdrawal requests? Many traders have reportedly raised these issues on broker evaluation platforms such as WikiFX. This XTrend Speed review examines user-reported allegations and shares an outlook on the regulatory status.
ContentsXTrend Speed is a multi-asset brokerage across forex, shares, indices, and commodities markets.
Forex traders can invest in major, minor and exotic currency pairs. Major pairs listed on the platform include EUR/USD, GBP/USD, USD/JPY, USD/CAD, GBP/CHF. On the other hand, traders can choose from several minor pairs: AUD/USD, AUD/JPY, NZD/USD and AUD/NZD. Exotic pairs include USD/SGD, USDHKD, USD/DKK, USD/HUF, USD/NOK, etc.
Commodity traders can invest in gold, silver, US Oil, copper and nickel.
Index traders can choose from popular indices across the US, Asia Pacific, Middle East, Africa and Europe. Indices listed include Dow Jones 30 Index, NASDAQ-100 Index, S&P 500 Index, Germany 30 Index, Nikkei 225 Index, UK 100 Index, etc.
You can also invest in stock markets through the XTrend Speed platform.
A user from Singapore claimed that the market movement is allegedly different from what's shown on the platform. Here is that XTrend Speed review claiming the same.
A trader from the United Kingdom reportedly claimed that the broker does not obey the rules. Narrating his incident, the trader accused the broker of executing the limit order at 3.023 instead of the intended price of 2.963. The trader suspected that such an error could be extremely costly using leverage. The scope for a negative balance can be substantially higher, the trader claimed through this XTrend Speed review.
A user from South Africa claimed to have earned profits on the XTrend Speed platform. However, the broker allegedly took away the user's funds, according to this complaint.
An Indonesian user complained about the alleged removal of features after withdrawing funds from the new XTrend account. However, the broker allegedly failed to notify the user of this. This made the user continue using the old account. Here also, after withdrawing funds, the trader reportedly witnessed the removal of features and missions from the account. The trader reported this incident on WikiFX, a leading forex broker regulation inquiry app.
An Indian trader accused XTrend Speed of closing its two trades in losses worth USD 1471 and USD 5,000. The trader attributed the losses to the alleged flaws in the broker's trading system. Through a negative XTrend Speed review, the trader reportedly sought a refund from the broker. Take a look!
The disturbing user complaints point to a pertinent question: Is XTrend Speed regulated? According to the WikiFX report, the broker does not possess a valid forex trading license. At the same time, two other licenses, each from the Financial Sector Conduct Authority (FSCA) and the Cyprus Securities and Exchange Commission (CYSEC), have reportedly been revoked. This considerably raises question marks over the broker's legitimacy. Due to this, the broker managed to receive a score of 1.57 out of 10.
Prospective traders should verify user reviews, check the broker's operational regions and conduct other due diligence before choosing a broker.
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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