Caution! Xtbroker is an offshore company! Your funds may be at risk.
Xtbroker Key Features
🔴 Xtbroker’s services are questionable – a warning sign!
🔴 Xtbroker isn’t licensed – a red flag!
🔴 Xtbroker isn’t transparent – a red flag!
🔴 Xtbroker creates unrealistic expectations – a red flag!
Xtbroker Products and Services
Xtbroker claims to be a global trading company dedicated to delivering the best results for investors, but it’s actually an HYIP programme offering highly unrealistic opportunities. As seen from the screenshot above, they promise 2.30% hourly earnings with their entry Investment plan, and we can straight away tell you that this offer is seemingly fraudulent. Legit investment companies or brokers would never sign an hourly contract, and the rate itself is just impossible to deliver. The products and services assessment clearly shows there is something wrong with Xtbroker, and you’d better avoid it. We’ll provide more evidence of a scam later in the review.
HYIPs are unregulated investment schemes offering questionable opportunities, to put it mildly. The promised ROI (Return in Investment) is just too good to consider trustworthy- at times, customers are reassured that they can make 100% or more per day, which can’t happen in any possible way. To put it into perspective, even the largest investment funds can’t secure more than 10% per year, let alone per day or week. So, given the products and services offered, we can decisively say that the service reviewed is highly suspicious and most likely fraudulent.
With that being said, you’d better stay away and have a look at other reliable opportunities, such as Forex brokers PAMM managed accounts, social trading platforms or regulated crypto providers. For example, many crypto exchanges are presently offering BTC and ETH staking that can bring a decent passive income on reduced investment risk. But in any case, make sure to trust your money to transparent and adequately regulated financial companies because markets are currently plagued by anonymous investment schemes, most of which are pure scams.
Xtbroker Company and Regulation
We should start this section by saying that Xtbroker is actually a clone firm. The treacherous sign came from several pictures displayed on the website, and you can see these below. You can clearly see the logo, which belongs to XTB, a popular Forex broker with a global presence. As you probably guess, XTB has nothing to do with Xtbroker – the latter is simply a clone firm using photos from the website of the legal brokerage without permission! That’s strong evidence of a scam!
Those things out of the way, Xtbroker is apparently a brand of a British company – XTBROKER NET LIMITED, which was incorporated just a month ago. It’s not licensed by the local regulator FCA, so it shouldn’t provide any trading or investment services whatsoever, be it crypto or not. That said, we confirm that Xtbroker’s services are unregulated and risky!
The lack of regulation implies that the people operating the scheme are not supervised while working, meaning that clients’ money will always be exposed to risks. To put things into perspective, duly licensed and adequately regulated financial firms are forced by the authorities to comply with many standards designed to guarantee customers’ safety. For instance, to obtain a license, a company must meet minimum capital requirements that vary by country and depend on product specification or other factors. The condition is set to guarantee that firms should have enough money at their disposal to survive unforeseen events, remain stable and continue operations, inflicting no harm to customers.
The US minimum capital requirement is 20 million USD, which is actually one of the biggest among all. In addition, US financial firms should also keep customers’ accounts segregated, ensuring that deposits won’t be misused or misappropriated. However, we should note that the US regulatory framework is quite complex as there isn’t a single financial authority, but many. The list includes NFA, CFTC and SEC, to name a few, and each of the mentioned control companies in one way or another. Additionally, each state usually has its own independent authority, making the US market significantly more complex than others. Regardless, the scheme reviewed isn’t regulated by any authority anywhere in the world, so make sure to avoid it as it may as well be a pure scam.
Xtbroker Address and Contacts
|Address:||54 Ludgate Hill, London, England, EC4M 7AW|
|Phone number:||+44 800 840 5550|
Xtbroker’s address provided matches with the one found in the British Companies House registries, so it’s validated. However, Defithree is also allegedly present at the same address – it’s a fishy crypto investment scheme we recently reviewed. Both Xtbroker and Defithree are suspected scams, so we believe they are somewhat linked to each other. Also, both are only nominally present on the address, so the actual location of the scheme and the people running it remains unknown. Beware!
Transparency is essential when it comes to investing because you should always know who is making the investment in your name and where your money really is. Legit businesses always operate transparently and are required by law to provide the public with their basic corporate information – addresses, phone numbers, e-mails, legal documentation outlining service provisions and so forth. It’s very likely that you are dealing with scammers if you cannot independently verify the contact information given, and it’s even a more treacherous sign if you come across an entity that doesn’t even provide these crucial details!
Xtbroker.net Website Info
|SimilarWeb Ranking||None at the time of writing|
|WHOIS Reg. Date||2021-07-20|
|Owner||Redacted for Privacy|
|Administrator||Redacted for Privacy|
Is Xtbroker Safe?
Xtbroker is not safe! It waves too many red flags to consider it legit, and on top of all that, it seems to be a clone firm impersonating the renowned Forex brokerage XTB. But whatever the case, we confirm that your funds will be in danger if you deposit only because Xtbroker is not regulated! Beware!
For various reasons, depositing with HYIPs and other unregulated investment schemes is highly not recommended. Above all, the lack of regulation strongly suggests a scam, as only regulated firms can offer investment services to the public. As you might expect, scams cannot thrive in a robust regulatory environment, where numerous customer protection rules are imposed, all of which are designed to make markets safer by actively preventing fraud.
Authorisation by regulators is only granted if the firm meets the standards governing how the entities should treat you as a customer and what kind of information they should provide. Each country’s regulator keeps a register of licensed firms and the products and services each licensee is permitted to offer. Unauthorised firms, on the other hand, seek to avoid the controls that legal, authorised entities are subject to, thus leaving investors unprotected. Scammers, of course, want customers to be completely unprotected, which significantly facilitates fraud, and that’s why they always work without a license.
The HYIPs, in particular, are usually operated as a Ponzi because many investors can withdraw initially, but sooner or later, the service will inevitably close. HYIPs usually target traders and investors with little or no experience by promising fictitious investment opportunities, allegedly delivering unrealistically lucrative gains. 10% or 100% per day certainly isn’t a legit offer – that’s a scam, and you’d better stay far away from entities promising get-rich-quick schemes.