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XtradeFX Review - is it scam or safe?

XtradeFX Review - is xtradefx.com scam or good forex broker?

RATING: 0.5 / 6 REVIEWS
XtradeFX is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


 

Trading Accounts & Conditions

 

Account type

Min. deposit

Min. trade size

Max. leverage

Spread ( & Commission)

Micro

$100.00

0.01

1:500

From 1 pip

Standard

$500.00

0.01

1:300

From 1 pip

Premium

$25 000

0.01

1:100

From 0.6 pips + $6 / lot

VIP

$100 000

0.01

1:100

From 0.2 pips + $6 / lot


XtradeFX a rather new forex and CFD broker that offers the account types listed above. Although their offer may seem impressive on paper, we don’t recommend this broker for a number of reasons. Read the full review for more details.

 

 

XtradeFX Advantages

 

Competitive spreads (on paper)

As you can see from the table above, the spreads offered by this broker are in line with the average in the forex industry. The typical spread on the EUR/USD pair on XtradeFX’s demo MT4 is floating around 1.3 pips (and no commission applies).

 

MT4 available

XtradeFX uses the MetaTrader platform, which we always consider as a plus in a forex broker’s offering. This trading terminal offers great charting and support for custom indicators and automated trading strategies (a.k.a. Expert Advisors). Besides, MT4 has its own store, where you can buy, sell and even get some free custom made technical indicators and EAss – the MQL Marketplace.

 


>> Top MT4 brokers <<

 

 

Wide range of CFD, including on cryptos

This broker has rather rich and diversified product portfolio. It offers trading in many currency pairs and various CFDs, including on Bitcoin, Ethereum, Ripple, Dash, and more. While diversity is truly a good thing, there are more important things to look for in a forex broker, such as regulation and reliability. Unfortunately, XtradeFX is neither relieble, nor regulate, so check out the below link.



>>Trade Bitcoin with a licensed forex broker <<


XtradeFX Disadvantages

 

Not regulated, CONSOB warning

XtradeFX is one of the brands of 2dots limited. While there is nothing mentioned on the broker’s website regarding forex broker license or regulation, we already know that the company is registered offshore. We have covered the other brands of 2dots limited - INVfinance, 8inFX, and 24Stox. Offshore brokers are generally to be avoided, due to the loose regulatory environment in which they operate. Yet another reason to avoid XtradeFX in particular is the fact that Italy’s financial regulator, CONSOB, has issued a warning against 2dots limited.

 

Related to a group of dubious brokers around UpFX

We have also reviewed a couple of brokers that seem related to scam broker Up4x - Fxbankers, 4xbanks, Tradeu2 and more. If you take a look at the websites of 4xbanks, Fxbankers, and XtradeFX, you will immediately spot that their structure is identical, even the uploaded images are the same. The content on these websites is almost the same. It really seems like a multiplied scam scheme, so you’d better stay away from all these bunch of fraudsters.

 

 

 

 

Click on the images to zoom in.

 

 

Conclusion

 

XtradeFX is a forex and CFD broker, which has a lot of issues. First and foremost, the company that operates it, 2dots limited, is registered offshore. Second, its website is almost identical to the sites of a bunch of dubious brokers related to UpFX. Scammers on the forex and binary option scenes often change their names or create new websites. To cut things short, you’d better not deal with XtradeFX, no matter what their spreads are and what they claim.

 

We suggest that you select a licensed broker instead. Here is a list of forex brokerages, authorized by one of the most reliable regulators worldwide – the FCA.

 


>> Brokers authorized by UK’s FCA <<

 

 

Pros

Cons

Competitive spreads (on paper)

Not regulated

MT4 available

Related to a group of dubious brokers around UpFX

Wide range of CFD, including on cryptos

 

 

 

 

Latest news about XtradeFX
No news about XtradeFX. Check back later.
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Traders` reviews for XtradeFX

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Not happy

Ye a bunch of aresholes escpecially Anthony (Tony) Conti who was as nice as punch, fleeced me out of heaps over and above the 24Stocks account which got very profitable. NOT HAPPY JANE

Guy Eastwood 09/10/2018

Stay away from XtradeFX

Stay away from this site and especially Simon Jansen so-called accounts manager at XtradeFX owned by 2dots ltd, I've experienced the exact same issues as in James's review, the whole website is fake there is no support ever, you cant ever make a withdrawal they never reply to emails, when Simon Jansen has called I can hear he's in a busy call center its disgusting they must be ripping off thousands of innocent people of there hard earned money, I didn't even get to make a single withdrawal even though my account shows $12,600 .. $9,500 of that was from my own deposits

J J Jones 08/26/2018

XtradeFX scam bonus system

Have been a fool. Cannot believe I have been so gullible. All starts off very nice and pleasant and chatty. Gradually you are drawn into adding a bit more and a bit more into the account. Many reasons. Insurance is one. Fell for all this. When I eventually had none left to give they get very nasty.
I of course cannot get and funds out due to the so called bonus system which I did not ask for but got it!
Am currently considering other ways of recouping my funds.
THEY ARE LYING CHEATING SCAMMERS. DO NOT PUT ONE PENNY IN ANY OF IT.\

Gillian Garraghan 08/19/2018

Estafa

Ramon rodeler y su sectetaria jessica me estafaron. Devuelvan mi plata ladrones. Empresa de delincuentes

Translate by Google:

Ramon rodeler and his secretary Jesica scammed me. Return my silver thieves. Company of criminals

Paula suarez 08/08/2018

Simon Jansen with XtradeFX Scammed me out of $9,500

Stay away from this site and especially Simon Jansen so-called accounts manager at XtradeFX owned by 2dots ltd, I've experienced the exact same issues as in James's review,
the whole website is fake there is no support ever, you cant ever make a withdrawal they never reply to emails, when Simon Jansen has called I can hear he's in a busy call center its disgusting they must be ripping off thousands of innocent people of there hard earned money, I didn't even get to make a single withdrawal even though my account shows $12,600 .. $9,500 of that was from my own deposits

Jeff Holden

JDH 05/03/2018

XtradeFX is definately a SCAM

Should you be looking for a Trading Company Xtradefx is not the place to be. Plenty of Alternatives.

I am new to trading and opened an account with Xtradefx formally 24Stox 10 months ago. I have made 11 small deposits progressively over time and built my account up. Through trading I am at about an 180% profit, so doing ok. Its when you want something you find where the wheels fall off. Due to an unexpected health issue, I tried to make a withdrawal of 30% of my capital. Fairly small for the status of my account.

Yes you guessed it - cannot get your money out.
Words are cheap - actions can only prove the words.
So. lets look at what the company says and reality

Some company extracts:-
About Us – Company Profile
• Best-in-class customer service, including live chat
• One-hour response time for sales and support requests

Being an industry leader is more than just leveraging the latest technologies. Our experienced staff is made up of a group of honest, reliable and hardworking professionals whose goal is all-encompassing support of our clients. With our priority of immediate response to your questions and willingness to expand both our knowledge base and yours, we are propelling Xtradefx to a market leader in innovation and customer service.

About Us – Advantages
Providing you with around-the-clock support, live chat and one-hour response time to your queries is standard operating procedure for us, allowing you to focus on what really matters - your financial goals and trading.

Your funds right when you need them in an easy and secure way. We offer one of the fastest processing times in the market.

About Us – MD Message
When working in an online industry, a website must match up to the promises a company makes. We now have a website which truly represents the efficiency and professionalism of our day to day work. Along with our second-to-none customer service, reaching customers worldwide continues to be one of our primary goals.

Allowing clients to manage their accounts and interests from anywhere in the world has been key to our ambition to reach all corners of the globe. For our customers, accessibility and flexibility are prized assets – yet they are always aware that help is available if needed. The fact that this support can be utilized almost any time, day or night, is our top priority.

Support - Contact Us
You will note that there is no telephone number to call on the website
Send us a Message form to submit

Support – Call Back Request
Call Back form to submit

Support – FAQs
Withdrawing funds from your account is simple and quick. Withdrawal requests are processed within 15 minutes by deducting the amount from your account.

You will receive an automated daily and monthly statements. These will be sent to your registered email automatically by the platform, if there has been activity during that period.

You will receive an automated daily and monthly statements. These will be sent to your registered email automatically by the platform, if there has been activity during that period.

Contacting the Account Manager
I have had two account managers being Robert Conti and Simon Jansen

REALITY
Completing the withdrawal form (numerous times) does not get processed
I have sent numerous emails to [email protected] and have not received a reply.
There is no live chat
Completing the Contact Us form (numerous times) does not get a reply
Completing the Call Back Request form (numerous times) does not get answered nor are you contacted
Emails to [email protected] does not get a reply
You will note that there is no telephone number to call on the website
Emailing the brokers does not get answered, they only contact you with a request to deposit more funds.
Telephoning the brokers, the number just rings out
There is no customer service and demonstrate that they have no respect for you as a client..

CONCLUSION
At this point I have been trying to have this withdrawal undertaken for 11 weeks,
What is written in the website is words, without any form of reality backing them.
XtradeFX is definitely a SCAM

James Lowrie 04/24/2018
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