Kirjoittaja Aihe: Trade XN Review: Should you trust tradexn.com? (Luettu 1022 kertaa)

upamfva · 08.02.23 - 07:38

Trade XN Review: Should you trust tradexn.com?

Trade XN promises low spreads and no hidden fees as well as easy access to well over 100 trading instruments, including forex pairs and CFDs on commodities, indices, stocks and precious metals with leverage as high as 1:500 and a state- of- the- art trading software.To get more news about trade xn review, you can visit wikifx.com official website.

And Trade XN also says to be a leading STP broker, authorized to provide financial services to clients around the world, which all sounds wonderful was it not for the minor detail that the website appears to be completely anonymous, that it is not regulated anywhere and that it basically bears all the hallmarks of a scam. If you are still considering Trade XN’s offer, better check the following lines.
Trade XN says that their company is authorized to provide financial services to clients around the world. And they particularly point out their presence in Malaysia, Singapore, Myanmar, Japan, Chile, Australia and United Arab Emirates. Take a look:

If that was really so however, they should have also been licensed and authorized by the respective local, official regulatory authorities as for example the Australian Securities and Investments Commission (ASIC) or let say the Monetary Authority of Singapore (MAS), but that is simply not so. The website is not regulated anywhere.

Not to mention that it also appears to be completely anonymous. Just take a look at their contact details – no corporate address, no corporate background, not even a company name:We may only assume that the company behind the website is called Trade XN or Capital Group – we came across that name in the presentation as well – but we have absolutely no idea where that company might be based and incorporated.

All of that clearly points out that we are dealing with outright scammers, whom we strongly advise you to avoid if you vale the safety of your funds.The following applies to all unregulated, offshore brokers in general, but even more so to completely anonymous websites like this one. Being unregulated and not supervised in any way by an official regulatory institution, Trade XN have no problem to come up with virtually any pretext to tell you that you can not withdraw even a single dollar.

That is all what scam websites like this one are all about. You will be tricked into accepting some lucrative looking trading bonus for example, which latter will turn out to have strings attached.

In the general case you will have to meet some minimum trade volume requirement before considering any withdrawals. Unfair as such an additional withdrawal condition might be – legit brokers will never restrict your right to withdraw funds from your trading account no matter what – the truly nasty part here is that scammers like Trade XN will also have no problem to increase the above mentioned minimum trade volume requirement as they please. And that kind of explains why with a trading bonus you will never be considered eligible to withdraw anything. As simple as that.

And did we mention that any single withdraw request, which you might file, will be charged with some ridiculous withdraw processing and handling fee, often exceeding 20%, which you will have to pay anyway, no matter if your withdraw request has latter been approved or not. So here you may find as well our list of brokers, duly licensed to operate in the European Union instead.