pic

Xtrader365 Review | Is this Organization a Scam or Not?

by Kevin Berry
Rating: 
  1/5   Reviews: 4
Xtrader365 - logo

Xtrader365 offers to “unlock your earnings potential and unleash your trading abilities”. Based in Cyprus, the brokerage firm allows traders to earn money in financial markets through leveraged trading. The issue is that the broker lacks the necessary licensing to position itself as a verified and secure forex intermediary. Moreover, there are hardly any online reviews about the company, and it has not provided any information about its operational history or legal documentation. These are serious red flags that raise concerns. Our task now is to definitively ascertain whether this organization is a scam or not.

Highlights

🏛️ Country Cyprus
⚠️ Regulation
🖥️ Website https://www.xtrader365.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $500
⚖️ Minimum and Maximum Leverage 1:200
⚙️ Trading Platform WebTrader
📨 E-mail support@xtrader365.com
📞 Phone

First Impression of Xtrader365.com

The broker decided that there was no need to create a high-quality official website filled with the necessary information. Instead, Xtrader365 has set up a generic site that is absolutely no different from the websites of other brokerage fraudsters. Given this familiar pattern, it’s not a stretch to suspect that the company is involved in dubious activities. Details about the firm’s operations are glaringly absent, there’s no mention of licensing or operational history. Legal documents have not been uploaded; there’s only a brief user agreement. Additionally, most of the trading conditions remain a mystery.

Xtrader365 - site

At the top of the website, visitors can see the range of assets available for trading, learn about the trading platform, get company information, and find contact details. While there are social media icons, they aren’t clickable. The site’s interface is only in English. Upon landing on the website, Xtrader365 entices users with the promise to “unlock earnings potential”, and this kind of motivational rhetoric is a recurring theme throughout the site. All these loud and clichéd phrases, motivating slogans, look utterly absurd.

The website is designed in a white and blue color scheme. Regarding visual effects, it primarily features pretentious photos of individuals in shirts and suits, either sitting behind monitors displaying trading terminals or staring intently at their smartphones. There are even typos; for example, the description of account types mistakenly uses “dairy” instead of “daily”. All in all, Xtrader365’s website is characteristic of scam brokers, there’s nothing new, unique, or interesting to note.

Typo

Partnership and Bonuses

There is no mention of an affiliate program or bonuses on Xtrader365’s official website, and we found no hints of any such offerings. However, it’s worth noting that a broker like this could easily lure clients with substantial deposit bonuses. Such incentives are often a favored tactic of unscrupulous companies, almost guaranteeing that clients will lose their money before they can meet the conditions tied to these bonuses.

Account Opening on Xtrader365.com

The registration process with Xtrader365 requires you to submit personal information like your full name, email address, phone number, country of residence, date of birth, and preferred account currency, along with a password. Afterward, you must agree to the terms of the user agreement. Overall, the account creation process doesn’t raise any immediate red flags. However, curiously enough, there was no requirement to verify the phone number or email address provided.

Registration

Next, a standard account opens in front of us. Through the cabinet, Xtrader365 traders can:

  • Changing personal information. Upload documents for verification.
  • View trading history.
  • Deposit and withdrawal of funds.
  • Special form for feedback with managers.
  • Switching to the trading platform.

Xtrader365 - dashboard

The user dashboard is standard, offering only basic functionalities and lacking options to change language, color themes, or access additional services. It’s also worth noting that Xtrader365 doesn’t provide a demo account, which means you can’t test the service using virtual funds, you’ll have to deposit real money. This is a significant downside, especially considering that most reputable and popular trading platforms typically offer demo accounts for user testing.

Verification

The website lacks a section that clearly describes the verification process. There’s no guide on how to complete KYC checks, which documents are required, or why the broker is requesting identity verification. Since not all traders are familiar with the purpose of these checks, it would have been helpful for Xtrader365 to explain this. We can only speculate on whether mandatory KYC is required here or not. Uploading documents is done through a specific section in the user dashboard, where you select the type of document and upload it from your computer.

Pros
  • It’s convenient to upload documents.
Cons
  • Documents explaining KYC & AML policies are not available.
  • Unknown whether verification is mandatory.

Trading Software

Xtrader365 provides a basic, primitive web-based trading platform. While it does offer desktop software that can be downloaded, we advise against it, as the broker’s website supplies a .msi file that could potentially contain dangerous viruses. Additionally, the absence of a mobile application imposes further limitations and inconveniences on clients. Many traders are used to operating from smartphones or, at the very least, viewing charts on mobile devices.

Terminal

Looking at the terminal, there’s nothing good to say about it. Its features are limited to basic technical and graphical analysis, a few types of charts, various timeframes, and limit orders. While these might be sufficient for beginners, they will likely fall short as a trader gains more experience. Unfortunately, Xtrader365 doesn’t offer any alternative trading platforms. A well-known option like MetaTrader, developed by MetaQuotes, would be a significant improvement. However, considering the company’s negligence and potentially fraudulent structure, seriously expecting this would be pointless.

Xtrader365 lacks many advanced features commonly used in professional trading. The platform doesn’t support automated trading bots, doesn’t allow for copy trading, and offers no options to upload custom indicators or trading strategy templates. Furthermore, sophisticated order types like iceberg orders and trailing stops are also missing

Features Xtrader365 Capitalex Pro CauvoCapital
Demo Account
Mobile App ✔️
Own Development

How Can I Trade With Xtrader365?

Traders have the option to use 1:200 leverage for trading CFDs across various asset classes, including Forex, stocks, metals, indices, commodities, and cryptocurrencies. Although the website mentions NFTs (Non-Fungible Tokens), it lacks a dedicated trading functionality for this specific type of digital asset. The availability of additional services on Xtrader365 varies depending on the selected tariff.

All Info About Accounts

The firm has only four account types to choose from: Silver, which requires a minimum deposit of $500; Gold, which requires $5,000; Platinum, with a $7,000; and VIP Club, for those willing to invest over $10,000. These account types are tiered based on the “more money, more services” principle. The minimum deposit threshold for Xtrader365 is notably high at $500, especially when compared to competitors that offer market access for as low as $10. Also, one must not forget that there is no demo account available, which means that to test the platform, you have to invest a minimum of $500. Xtrader365 is clearly involved in extortion.

Accounts

Beginners who might hardly even be able to afford the “Silver” plan are offered daily market analytics, video access, recommendations, exclusive updates, and 24-hour support. For those who opt for the “Gold” plan, which demands a hefty $5,000 deposit, the only additional benefit seems to be VIP-level support. The offerings raise several questions: What distinguishes VIP support from regular customer support? What types of videos are included in the access – educational, analytical, or perhaps funny cat videos? Where can one find examples of recommendations and analytics? And what exactly do “exclusive updates” entail? Overall, the trading conditions are nebulous and confusing.

Xtrader365 provides inadequate and monotonous terms. The tariff plans are nearly identical, yet they require substantial capital investment. Many important trading conditions, such as spreads, commissions, and swaps, are conspicuously missing from the website. Information about leverage is only available through the trading platform and is not disclosed on the site. Additionally, the broker has overlooked the option for an Islamic account.

Market Analysis and Education With Xtrader365.com

The company doesn’t offer any free resources. There’s no news feed, economic calendar, live market quotes, information on market hours, or central bank interest rates. While Xtrader365 claims to provide free educational resources and a personal manager for each trader, the plan descriptions reveal that this option is only available to those willing to invest $10,000 or more.

Deposit, Withdrawal, and Fees

Unsurprisingly, the firm’s website lacks a dedicated section for money transfers. Xtrader365 only hints at the supported methods for deposits and withdrawals through icons displayed at the bottom of their main webpage. These include Visa/Mastercard, Qiwi, Webmoney, Bitcoin, Skrill, and Neteller.

Interestingly, the option to deposit funds is not readily accessible. Clients must contact a company manager to unlock this feature. Additionally, the site does not provide information on any associated transfer fees.

Features Xtrader365 Crypto Comeback Pro All Capital Trade
Debit/Credit Cards ✔️ ✔️
Electronic Payments ✔️
Crypto Transfers ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

Email is the sole method for reaching out to Xtrader365’s representatives. The listed phone number appears as “111111111 111111111”, making it obvious that it’s not a real contact number. Surprisingly for a company operating in the online space, there are no social media media available. Furthermore, the absence of a live chat option means that the only way to communicate is via email, which is the slowest form of interaction, and there’s no assurance that you’ll receive a reply from their staff.

Pros
  • None.
Cons
  • There is a missing phone number.
  • It is impossible to promptly contact managers via online chat.
  • Social networks are not created.

Is Xtrader365 Dangerous?

At this point, there seems to be little doubt that we’re dealing with a fundamentally fraudulent brokerage firm. A phone number consisting of ones 1, meaning it’s fake, a high minimum deposit, the absence of a demo account, a primitive trading platform, and a lack of reviews online are all red flags that indicate the unreliability of Xtrader365. The only aspects remaining to check are the company’s operating history and its licensing to draw a conclusive verdict.

How Long Does The Broker Work?

Like many other suspected scambrokers, Xtrader365 doesn’t disclose how long it has been in operation. There’s no mention on its official website about when the company began its brokerage services. However, clues from their domain registration, dated August 2023, suggest that the firm was only recently established. The organization began offering brokerage services in August 2023, which is too short of a period. The broker cannot counter this fact, as there are no registration documents available.

Domain

How Is Xtrader365 Regulated?

Based on the contact information provided on their website, Xtrader365 appears to be a Cyprus-based broker. However, there are some red flags. Firstly, the company has not secured a license from the Cyprus Securities and Exchange Commission (CySEC), as required by Cypriot law. Secondly, the firm is also not found in any registry of legal entities operating under Cypriot jurisdiction. These factors strongly suggest that the legal address they’ve provided is likely fake.

Xtrader365 - Cyprus

Features Xtrader365 Sollari Axi
European Zone ✔️
Asian Zone ✔️
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

Kevin Berry
Ask question
Expert Opinion

Another scammer in the forex industry has been unmasked – excellent work. I hope that the fraudsters haven’t had time to deceive people during such a short period of fraudulent activity. There’s no question that Xtrader365 is a scam. Consider this: Would a legitimate company use a fake address and a phone number consisting entirely of the ones 1? Certainly not. The scammers hardly try to disguise their platform’s deceptive and extortionate practices. Nothing good can be said about the trading conditions either, and the website looks typical for such scams. Don’t waste your time registering an account with this organization, it’s completely pointless.

You may also like

Xtrader365 rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
Leave a review

The level of trust
Quick withdrawal of funds
Efficiency of technical support

4 reviews about Xtrader365

50cent September 1, 2023 - 17:03
A representative of a scam gang
The level of trust
Quick withdrawal of funds

Xtrader365 is a representative of a fraudulent group. There are a ton of such fake brokers on the internet. They are all hardened and proven scammers who deceive people for money, although they tell such unusual tales and advantages. The company operates illegally because it does not have a license. Moreover, the address in Cyprus is fake. What’s the deal with this phone number “11111 11111”? What kind of jokes are these? In short, these fools don’t even try to hide the facts of fraud and deception. Don’t waste your time on a platform that will scam you and steal your money. What’s the point of trading with a firm if they won’t even withdraw your money?
You should understand, it is another project by the same scambrokers who have been running scams for a very long time. The platform is fake; there isn’t even a mobile application. Also, there is no demo account type. The scambroker has deliberately set it up this way, and they specifically require a huge minimum deposit of $500.

Reply
Steph Carrey September 5, 2023 - 04:57
Is it possible to get a refund?
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Please help. I’m new to trading, so I fell for the sweet and false promises of the scammers from Xtrader365. I invested $1,000 in the company. I made the transfer via Bitcoin, so as far as I understand, it’s impossible to get my money back because blockchain transactions can’t be reversed.
Is there any way to reach these scammers? Maybe there’s a way to influence them into returning my money, or at least part of my deposit? I deeply regret falling for the fraud from Xtrader365. I thought I was dealing with a secure Cypriot brokerage firm offering a multitude of additional services and advantages.
I planned to trade with a personal assistant, use analytics and recommendations from professionals, and thanks to all this, make a profit in the forex market. However, my dreams were not meant to be fulfilled, as the scammers from Xtrader365 refused to withdraw my money.
I am stressed out. I never thought I’d get caught in a scam so easily. It’s sad, very, very sad. At least now you know that such fraudsters exist, and you can’t trust a word they say.

Reply
Fire February 29, 2024 - 11:45
Scammers at their best
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I opened an account with Xtrader365 and only realised that something is wrong when I was told to deposit more money before I could even start trading. When i wanted to withdraw my funds, I am being taken from pillar to post. I now accept that I will never receive my 200 US dollars I deposited.

Reply
G March 2, 2024 - 00:05
WITHDRAWAL REFUSAL AND AS FOR THE PRESSURE TO DEPOSIT MORE MONEY!!!!!!

They pressuring people to deposit more money and refuse witdrawals, red flag!!

Reply

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy