Abstract：The British regulator FCA issued a warning against XTB Global on September 22th!!!
Investors who are still trading forex at XTB Global had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!
XTB Global is a clone firm, and it‘s confirmed by the British regulator FCA. The authority issued a warning against Xtb-global.com, effectively exposing it as a clone firm and a scam scheme. So, after the FCA alert, we can only say that scammers will steal your money if you deposit with Xtb-global.com! Clones are dangerous as they impersonate legit companies, which makes it easier for fraudsters to take their investors’ guards off and scam them out of their money. Its a simple but very effective strategy, as the number of impostors like Xtb-global.com is constantly on the rise!
WikiFX also paid a visit to the broker‘s official website to learn more. The so-called brokerage is registered in the Marshall Islands, a country that doesn’t even have state-controlled financial authority, let alone regulated Forex markets. The Marshall Islands are an offshore zone, so Xtb-global.com is practically an IBC with undisclosed ownership. Hence, you neither know who operates the business nor where it‘s actually located. And the worst of all is that once you deposit with Xtb-global.com, your money will be transferred offshore, where it literally disappears, with no one able to track the funds down. The bottom line is that whenever you open an account with Xtb-global.com and deposit money, you’ll get scammed, and youll have no chance of recovering the losses afterwards!
Furthermore, XTB Global says to be offering several state-of-the-art trading platforms, but in reality what WikiFX was actually offered after completing registration was an overly simplified, web based platform, which you may check on the screenshot below. And bear in mind that if your new broker fails to provide you with any proven and reliable trading software, as for example the industry standard MetaTrader4 or MetaTrader5, it is obviously involved in scam.
The trading risks can be high as leverage can vary between 1:1 and 1:500, as customers can adjust it to their preferences. That said, Xtb-global.com service is practically illegal in too many jurisdictions, as regulators in the EU, UK, US, Australia, Japan, and others already imposed a leverage cap, prohibiting ratios like 1:500!
As for deposit and withdrawal, Xtb-global.com doesn‘t specify much, but from the clauses in the T&Cs, one can clearly see that withdrawing may become a problem if clients accept bonuses. Not that an exposed scam like Xtb-global.com will ever process requests, but the bonus clause makes withdrawals almost impossible as a minimum trading volume is imposed. In particular, after the incentives, clients should trade 30 times the bonus plus the deposit to become eligible for withdrawal! That’s a scam clause!
Now let's search “XTB Global” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.
As you can see, based on information given on WikiFX, XTB Global currently has no valid regulatory license and the score is rather negative - only 0.99/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.
Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.
In a nutshell, it's not wise to invest in XTB Global, which has been blacklisted as a scam by the Financial Conduct Authority (FCA) in the UK. WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.
WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!
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