Xtrader365 offers to uncover your trading potential and abilities. The broker boldly claims to take you to new heights. Well, well, we thought and proceeded with another review, exposing a scam.
- Xtrader365 General Information
- Registration and Client Portal Review
- Xtrader365 Trading Conditions
- Account Types Review
- Trading Platform
- Xtrader365 — Deposit and Withdrawal of Funds
- Verification
- Additional Options
- Is Xtrader365 a Scam?
- Legal Information and License
- Xtrader365.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Xtrader365 General Information
| Website | https://www.xtrader365.com/ |
| Phone Number | 111111111111111111 |
| support@xtrader365.com | |
| Address | 100 Michael Zavou, Ayios Athanasios, 4107, Limassol, Cyprus |
| License | — |
| Minimum Deposit | $500 |
| Assets | CFDs |
| Leverage | — |
| Trading Platform | WebTrader |
Registration and Client Portal Review
Xtrader365 welcomes its clients with a pleasing blue website background. However, that’s where the positives end. The company’s information is presented very sparingly, including details about trading accounts. Some pages seem to be filled with mere filler content rather than substantial information. Additionally, the website is available in English only. It’s quite perplexing how a broker can boast about itself while having such an evidently underdeveloped website.
The registration process with Xtrader365 is quite standard. The broker requests personal and contact information, but interestingly, it doesn’t send any verification codes to your email or phone number. This means you can register in the client portal even using fake information, which is not a secure approach.
Further describing their Client Portal, it appears to follow a standard and templated design. The functionalities available in this portal are typical of what you would expect from many brokers. It includes options to manage your account, deposit, and withdraw funds, and access trading-related tools. However, there is nothing particularly remarkable or innovative about this portal. It seems to be quite generic and lacks any unique features that would set it apart from other brokers in the industry.
Xtrader365 Trading Conditions
We are quite intrigued to discover what Xtrader365 has to offer in order to unlock our trading potential. It’s interesting to see if they provide something unique or if it’s just another set of unfulfilled promises.
Account Types Review
Regarding the account types, it appears Xtrader365 has conveniently listed them on the main page for easy access. However, this can be seen as somewhat problematic as vital information is missing. For instance, there is no mention of the leverage offered by Xtrader365, and we still haven’t grasped what the spreads are like on this platform. Nonetheless, they offer four types of accounts.
- Silver. Requires a minimum deposit of $500, granting access to videos, exclusive updates, and support.
- Gold. You’ll need to deposit $5,000, and in addition to the benefits of the Silver account, you get VIP support – as if 24/7 support isn’t sufficient.
- Platinum. To open this account, you must deposit $7,000, and it offers the opportunity to hedge your trades, although one might expect this feature to be standard across all accounts.
- VIP Club. This account demands a deposit of over $10,000. Apart from everything mentioned before, you will also have a personal manager assigned to you.
Interestingly, Xtrader365 seems to place great emphasis on support and account managers. However, their real value proposition might leave one puzzled. Surprisingly, for each account, they also provide recommendations on dairy nutrition. Yes, you read that correctly. We did too. That’s exactly what’s written on the official website for all four account types. Of course, it’s likely just a typo, but when it comes to the website of a reputable broker, one would expect less absurdity in the content.
Trading Platform
The WebTrader provided by Xtrader365 deserves some criticism. It comes with a lackluster interface and limited capabilities for technical and graphical analysis. The platform falls short when it comes to providing traders with the tools they need for in-depth analysis and decision-making.
Additionally, it’s worth noting that while a web-based platform can be convenient for some traders, Xtrader365 also offers the option to download the platform to your PC. However, even with this additional option, the platform’s overall quality and features may leave traders wanting more from their trading experience.
Xtrader365 — Deposit and Withdrawal of Funds
In the personal cabinet, there are options for funding your account using credit/debit cards as well as bank transfers, and you can also withdraw funds using these methods. However, it’s important to note that all other methods, including the payment systems listed in the footer of the official website, appear to be non-functional and are likely included as a marketing tactic.
Verification
To complete the verification process at Xtrader365, you can do it directly within your personal account. You will need to upload specific documents as part of the identity verification process. These documents typically include proof of identity, such as a government-issued ID or passport, and proof of address, which can be a utility bill or bank statement. Additionally, you might be required to provide documents related to your payment method, such as a copy of your credit/debit card.
Please note that the exact document requirements may vary depending on Xtrader365’s policies and regulations, so it’s essential to check the specific instructions provided within your personal account for precise details on what documents are needed.
Additional Options
We would certainly like to delve further into those “dairy recommendations” because we’re having quite a dilemma deciding which sort of cheese to have for breakfast. It’s intriguing that besides dairy recommendations, Xtrader365 apparently provides dairy market analysis, too. However, let’s not dwell on our jests. Assuming that Xtrader365 does indeed offer daily analysis, we’d like to know who the market forecasters behind these analyses are. Curiously, we haven’t come across any of their publicly available reports.
Is Xtrader365 a Scam?
Well, we won’t beat around the bush here. Let’s state it plainly: Xtrader365 is a scam. Now, let’s explain why we’re so certain about it.
Legal Information and License
On their website, they’ve listed an office address in Cyprus. Interestingly, Cyprus, despite being an offshore destination, has quite a strict regulatory framework for brokers. Every broker there must be CySec licensed. Can you guess whether we found a license for Xtrader365 in the CySec registry? Well, of course not. Furthermore, this company isn’t even officially registered. It exists solely as a website and that’s about it.
Xtrader365.com Domain Info
We also wondered why there was no information about the broker’s history. However, frankly, there’s not much to wonder about. It’s simply a newcomer with nothing to boast about. A simple domain check revealed that the Xtrader365 website was created on August 3, 2023. So, literally, all the signs of fraud are right there, coupled with a short operating history. It’s like some sort of scam combo, a dairy combo. If you catch our drift.
Contacts Review
So, if you haven’t grown tired of the absurdity of Xtrader365 yet, let us present their contact details. Have you ever tried to call a phone number consisting of 18 digits? Give it a shot; maybe you’ll get an answer from some dairyman. As for the address, as you’ve probably guessed, it’s also fake because this company doesn’t exist in Cyprus.
More Details
We’d like to draw your attention specifically to the positive reviews online. And let us tell you right away, don’t trust them. Just try to read them, including the fact-checking, and you’ll see that none of these portals praising Xtrader365 provide any concrete information. Where is this broker registered, what about its licensing, how long has it been operating? You can verify all of this independently. And after verifying, you can ask your questions to the managers of this project. We assure you they won’t have a satisfactory answer because it’s all a scam trying to create a positive online reputation for itself.
Pros and Cons
- None.
- Lack of transparency in company information and regulation.
- Suspiciously short time in operation.
- Fake contact details.
- Absence of licensing and regulation by reputable authorities.
- Contradictory and unverifiable positive reviews online.
- Incomplete and misleading website content, including nonsensical references to dairy recommendations.
In conclusion, Xtrader365 is a clear-cut scam, and engaging with such a platform is highly discouraged. The numerous red flags, such as the lack of licensing, fake contact details, absurd website content, and a suspiciously short time in operation, leave no room for doubt. Investing time or money with this broker is a risky endeavor that should be avoided at all costs.
Frequently Asked Questions (FAQ)
Xtrader365 claims to offer a platform for trading services.
According to the platform’s trading conditions, the minimum deposit required is $500.
No, Xtrader365 is not a safe platform for trading or investment. It operates without the necessary regulatory licenses and provides misleading information on its website.
Exposing this broker scam to prevent newcomers from losing their money
It’s somewhat clear that experienced traders can easily discern between a legitimate broker and a scam, especially when the company reeks of deceit and fraudulence, as is the case with Xtrader365. Some scam brokers are skilled at masking themselves as legitimate ones, but they are a rarity. Most scammers are unwilling to take such risks, as it would involve legally registering a company, disclosing genuine information, and more. Scam brokers like Xtrader365 typically have all fake information, no documents, and often lack any legitimate registration. Licenses are out of the question, and it’s abundantly clear that they are impossible to obtain.
However, newcomers, who are prime targets for scammers, might not fully understand the nature of the company they are dealing with. They might find the platform seemingly alright but still have doubts about its authenticity. Here’s the bottom line: it’s essential to scrutinize any intermediary to whom you plan to entrust your money. This doesn’t just apply to brokers but also to banks, investment firms, cryptocurrency exchanges, and the like.
First and foremost, look for licenses. Any reputable company proudly displays all the licenses it holds on its homepage. It not only displays them but also provides license numbers, links to regulatory registers, and additional information. If there’s no mention of a license, it’s almost a guarantee that it’s a scam. Yes, there are companies without licenses that operate honestly, but they are a rarity, and their lifespan is short. Sooner or later, the music stops, and the broker scams its clients. There are even cases where scammers lie about obtaining licenses. It happens, and you need to verify this information independently. Only a company’s presence in a regulator’s register assures you that the license is genuine.
Here’s a simple structure to analyze a broker. I hope you’ve understood that this is a fake, unlicensed broker that has existed for only one month or less (at the time of writing this review). It’s logical to assume that your money will be lost, drained, stolen, and so forth.
xtrader365 is SCAM
DO NOT invest money with xtrader365.com, those people are 100% crooks. They make you believe to be legit, but they are ABSOLUTELY NOT! Stay away from them and cut them off immediately when you got them on the phone! I do not know if I can retrieve my money, but I will definitely anticipate EUROJUST, EUROPOL the eccnet.eu and others to get these crooks arrested and jailed.
I still wonder why I believed all their bullshit, but it happened unfortunately but those people will suffer the consequences!
Been scammed it seems
I have invested $250 with them to start. After my money came to about $500, they wanted me to invest $2000 more to start doing Arbitrage trading, when I said I am not willing to put so much in now, my normal money started draining slowly but surely, when I called them for assistance or answers, I have been told there is nothing they can do about it, as it is the block chain not their company. So now after reading this article, I realized what is actually happening. I AM BEING SCAMMED!!
This is surely a SCAM
I invested with Xtrader365 on 5 March 2024. After making a payment of South African rands 4158.44 which was $219 minimum investment.
Subsequently I was contacted by a Mr Martin Johnson who is an Account Manager and explained how the trading works based in Cyprus. I started becoming suspicious when after a week he tried to convince me to invest more.
I recently tried to make a withdrawal and after pressing the submit button to finalise the transaction, the end of the transaction appears an instruction to Print the details below using the “Print Preview” button below, however, there is no such button. i therefore can’t withdraw my money.