XFortunes Review – Watch Out For This Scam Broker!

Is XFortunes a Crypto and Forex Scam to Beware!

XFortunes, a brand of Melon Group LLC is a company registered in Saint Vincent & the Grenadines. After searching the FSA register, it was apparent that the firm had entered the database on April 6, 2022.

FSA reminds us that this authority does not grant licenses to binary options, CFDs, or Forex brokers. They can instead register their business with any third-party agency and then get permission in the country of services.

What does this mean for XFortunes regulation, you ask? What does it mean to you, the trader?

Brokerage must be compliant with ESMA rules, and it must obtain a license from the FCA or CONSOB, BaFin.

But they don’t have one. It means your investment funds are not secure. You cannot ask for reimbursement or assistance from Financial Ombudsman if something goes wrong.

We have proven that this financial intermediary poses a risk to customers’ funds and we urge you to share all information you might have. This will help us stop other scams.

XFortunes, another financial swindler has its headquarters in Saint Vincent-the Grenadines. It is a hub for fraud because there is no country that oversees the activities of Forex brokers and CFD brokers.

Is XFortunes Trading Scam Still Active?

It appears that XFortunes is heavily marketing their illegal services. According to GoDaddy WHOIS, the website was active from the 14th June 2022.

According to SimilarWeb data , November was their most popular month. The site had over 100K visitors in November.

The majority of complaints about the XFortunes trading fraud come from:

• Switzerland
• UK
• Slovenia

We also see an increase in web traffic from New Zealand and the Netherlands. We can’t stop the scam from spreading without your story.

What trading platforms are available? – XFortunes WebTrader

XFortunes is a simple WebTrader trading platform. Although they are highly praised on their website, there is no way to get any extra tools or features. You can view the P&L list, use several indicators and switch between five chart types.

Web-based platforms can be convenient because they don’t need installation, but they are often disappointing. Scam brokers often purchase the basic version to be able to show their clients. They don’t want to sell reputable, but costly third-party software.

This brokerage does not offer MT4,MT5, or cTrader. It also doesn’t have any platform with millions and proven value to retail traders such as yourself.

Can I download the XFortunes Mobile App

Mobile apps are not available as browser-based software. To log in to Android or iOS, both users will need to use their mobile browsers. This takes a while and can be quite inconvenient.

A mobile app is essential for quick and accurate response in a volatile market.

What trading assets can a broker offer?

We also want to credit the flexibility of trading instruments. XFortunes allows you to invest in the following:

• Currency Pairs Forex or FX – EUR/USD USD/ZAR SEK/NOK
• Commodities – gold, corn, natural gas
• Shares – Apple, Bank of America and BMW
• Indices – FTSE100, NIKKEI225, AU200
• Cryptocurrencies (Digital Currencies or Cryptos) – BNB, BTC, BCH
• ETFs iShares Russell 2000 and Invesco QQQ

Fees and spreads

Spread is a broker’s forte. The platform overview revealed that FX pairs can range from 0.5 to 5 pip. This is a significant gap that is not favorable for investors.

A clearance fee is charged depending on the profit and can range from $1.5 to $5 per trade. Clients can also be charged maintenance, withdrawal and dormant fees.

Comparing Trading Accounts – What is the Difference?

Six types of XFortunes accounts were found, including:

• Basic Trading Account – Minimum deposit 250 EUR
• Bronze – 5,000 EUR
• Silver – 20,000 EUR
• Gold – 50,000 EUR
• Platinum – 100,000 EUR
• Elite 250,000 EUR

Each account comes with a higher welcome bonus and more support.

XFortunes bonuses – Another way to scam you

When you first open the website, a popup will appear inviting you to claim your 100% Christmas bonus. The company also offers a welcome bonus of between 10 and 70% depending on your account type.

These bonuses can be used to stop you from withdrawing your money. Many scam brokers will hide clauses that state you can’t get your money back unless you reach a ridiculous rollover.

The legal documents don’t mention bonus funds and are therefore quite opaque. You can ask for any minimum rollover and you won’t have to prove it illegal.

Major regulators have banned incentives. This is why you should avoid XFortunes scams.

How do I withdraw money from XFortunes

Let’s first mention that the company accepts three payment methods.

• Debit/ Credit Card
• Wire transfer
• Western Union

We haven’t yet seen Western Union pay for investments. You don’t have any proof that the transfer was made. Anyone can take the money and claim it’s your loan.

XFortunes withdrawals must be processed in the same manner. This means that the company can forge WU verification, and you cannot prove it.

For wire transfer, the minimum withdrawal amount is 100 units and for all other methods it is 50 units. All methods are subject to a 3.5% service fee. This fee assumes you are able to withdraw your request. It’s a very long shot, according to XFortunes reviews.

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!

XFortunes: Video

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