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XLNTrade

Operating status: SCAM

Website: https://xlntrade.com/

Broker violations and abnormal records
  • Aug 16, 2022 BrokersView has Reviewed that XLNTrade is an Unregulated Forex Broker

    XLNTrade is not a reliable broker for traders even though it states offers that look good to be true. XLNTrade claims to be owned by Securcap Securities Limited, a company licensed by the Seychelles Financial Services Authority (Seychelles FSA) under the license number SD012. We indeed find a match result to Securcap Securities Limited in Seychelles FSA, but as per the regulatory details shown on FSA, the only approved domain of Securcap Securities Limited is "https://securcap.com/" not "https://xlntrade.com/". That means XLNTrade may be a clone firm that uses regulatory info of an FSA-regulated firm.

    Besides, XLNTrade claims the group of XLNTrade also consists of Wanakena Ltd, a European entity duly registered in Cyprus. However, we did not find any match results to XLNTrade or Wanakena Ltd in the Cyprus Securities and Exchange Commission (CySEC). That means XLNTrade is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    XLNTrade is not a reliable broker for traders even though it states offers that look good to be true. XLNTrade claims to be owned by Securcap Securities Limited, a company licensed by the Seychelles Financial Services Authority (Seychelles FSA) under the license number SD012. We indeed find a match result to Securcap Securities Limited in Seychelles FSA, but as per the regulatory details shown on FSA, the only approved domain of Securcap Securities Limited is "https://securcap.com/" not "https://xlntrade.com/". That means XLNTrade may be a clone firm that uses regulatory info of an FSA-regulated firm.Besides, XLNTrade claims the group of XLNTrade also consists of Wanakena Ltd, a European entity duly registered in Cyprus. However, we did not find any match results to XLNTrade or Wanakena Ltd in the Cyprus Securities and Exchange Commission (CySEC). That means XLNTrade is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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