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Xtrade
Operating status: SCAM
Website: https://www.xtrade.com/
Broker violations and abnormal records
Xtrade claims to hold a license from the Belize Financial Services Commission (Belize FSC). However, our verification with the authority suggests that all potential licenses associated with the broker have been canceled.
In addition, the company purports to be licensed in South Africa by the Financial Sector Conduct Authority (FSCA), and the related firm name is Peak Wealth PTY Ltd supposedly under License Number FSP44681. But on the FSCA register, the company under FSP44681 is PEAK WEALTH 8INVEST (PTY) LTD and the associated information with the licensee is inconsistent with what Xtrade asserts. Therefore, there is no evidence to suggest that Xtrade is regulated by the FSCA.
In essence, Xtrade is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.
Xtrade appears to be a scam.
Xtrade claims to hold a license from the Belize Financial Services Commission (Belize FSC). However, our verification with the authority suggests that all potential licenses associated with the broker have been canceled.In addition, the company purports to be licensed in South Africa by the Financial Sector Conduct Authority (FSCA), and the related firm name is Peak Wealth PTY Ltd supposedly under License Number FSP44681. But on the FSCA register, the company under FSP44681 is PEAK WEALTH 8INVEST (PTY) LTD and the associated information with the licensee is inconsistent with what Xtrade asserts. Therefore, there is no evidence to suggest that Xtrade is regulated by the FSCA.In essence, Xtrade is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.Xtrade appears to be a scam.
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