XBTFX Review – Trustable Broker or Another Scam?

Is XBTFX a Scam Without a Trading License

XBTFX LLC is the owner of broker XBTFX. It is registered in Saint Vincent & the Grenadines. SVG’s FSA still issued CFD and Forex broker licenses at the time of registration. This has now changed and all brokers based on the offshore island must apply for permission to operate in the country.

An FSA license, on the other hand, means that a broker has established an office through an agency and filled out sufficient forms. They also had to pay a $2,000. license fee.

However, Tier 1 regulators in the US, Australia, and Europe require that trading companies have substantial operational capital in order to avoid insolvency, create compensation funds and keep clients’ money separate from their own.

It is difficult to fulfill these requirements so XBTFX regulation has been omitted. The company also violates its terms and conditions. Despite claiming that it doesn’t provide services to residents of the EEA zones, it does. It doesn’t adhere to the ESMA leverage limit.

European Securities and Markets Authority states that brokers should limit leverage to 1:30 for FX pairs. XBTFX Forex broker offers leverage up to 1:500

Don’t be afraid to contact us if you have information about the fraudulent activities of this broker.

XBTFX, an offshore broker for trading, is registered in Saint Vincent & the Grenadines. Although it appears legitimate, the firm does not have any financial regulations. This means that your funds could be at risk.

Where is the XBTFX Trading Scam Active?

Since May 2019, the website has been welcoming customers. Our research shows that the XBTFX scam trading in:

• US
• Brazil
• UK
• Nigeria
• Canada
• France
• Germany
• Netherlands

Most of these areas are prohibited by the broker’s website. This means that they violate their T&C.

How does this scam broker contact victims?

Today, every trading scam starts online. Inexperienced investors can hook up with brokers by placing fake ads on Google Ads, Facebook and Instagram.

Their employees then start calling, emailing, and making offers to them. Each offer is better than the last to get retail traders like you to deposit the money.

You can expect to be connected with account managers if you accept the offer and pay the initial amount. These people don’t have any financial backgrounds and can be called boiler room agents. Their primary job is to request more money every week.

They will then add you to Telegram and WhatsApp groups and show you fake trading opportunities and success stories.

Broker employees are now creating fake social media accounts to promote their firm. Sometimes, they may even create fake LinkedIn profiles with business backgrounds to increase their credibility in sales pitches.

You may have already been a victim of a financial fraudster if this sounds familiar.

What trading assets does XBTFX offer?

These markets are available for trading:

• Currency Pairs Forex – AUD/CAD/CHF/DKK/EUR/CZK
Cryptocurrencies – ZEC, ADA, DOGE
• Commodities XAG/USD XAU/GBP CUC/USD
• Indices – NASDAQ, IBEX 35, FTSE 100
• Shares – Mastercard, Netflix and Intel

It’s nice to have a wide range of assets. There is no license for the broker.

Is there a XBTFX Demo account?

All platforms offer a demo account for XBTFX. Clients have the opportunity to test out the trading environment risk free, which can be very useful.

Scammers will often try to convince you that this is a way to give you false security. You can get a few good tips from them, so that you can make a profit and feel confident about depositing. You will soon realize that your broker is a fraudster.

How do you withdraw your profit from an XBTFX account?

XBTFX withdrawals must be made using the same payment method – crypto. It’s not the best method, as you don’t have confirmation of the transfer and it is easy to forge it.

You will need to withdraw the bonus amount of XBTFX. Trades must be made in standard lots.

You must trade 100 lots to earn a $200 bonus. This is equal to $10,000,000. This is precisely why major regulators ban bonuses and other incentive.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

XBTFX: Video

Below you will find a short video about XBTFX. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about XBTFX!