Xafexbit Review – 5 Main Warning Signs About This Scam Exchange

Xafexbit is another scam exchange offering shady crypto investment services. The whole website and even the logo are identical to the Bittup24.com website. So, that’s already the first sign of this scam exchange.

Same as with the other company, Xafexbit doesn’t offer any ownership details. Allegedly, they are operating from Australia since 2018. However, there are many more irregularities that you can find in this Xafexbit review.

Legal Info: Is Xafexbit Legit Or A Scam?

Xafexbit needs to have an AUSTRAC license for digital assets if they are an Australian company with an Australian address. However, Xafexbit.com is therefore not listed in their register. 

Furthermore, they do not appear in any other top tier regulatory register. For example, FCA, BaFin and CFTC.

Who Are Xafexbit’s Clients?

Not many reviews are readily available anywhere. However, we soon anticipate hearing institution-level cautions. Whatever the case, it appears that the majority of clients are from:

• United States
• Germany
• Canada
• United Kingdom

Tell us about how this exchange went for you. Additionally, please include your home country so we can broaden the list. In the end, you can receive free guidance about the next steps if you get in touch with our refund team.

Investment Costs With Xafexbit

As we can see, the business charges 0.2% fees for a standard account. Whether you are a maker or a taker is irrelevant. You can get lower fees of 0.14% for a premium account, though.

So far, it is unclear what qualifications are needed for a Premium account. Furthermore, a commission is charged by the business for withdrawals. However, there are still some unanswered questions.

Bonuses

The welcome bonus is frequently a great way to induce someone to make a deposit. Scam brokers frequently employ it. Because of this, it is prohibited in most nations with strict regulations.

As a result, it is not available on the xafexbit.com exchange. Certainly not on their website. Read our updated ForexPrimo review to learn how to spot dubious offers and bonuses.

Xafexbit Trading Features

Only basic web-based exchange is available on the xafexbit.com exchange. This doesn’t increase the company’s credibility. Especially considering how easily these platforms can be manipulated. 

As a result, you ought to stick with authorized businesses and steer clear of such irregularities. Also, for more clarity about the investment world check our Neo Omatic review.

Is Xafexbit Legit?

The company is completely anonymous without fully transparent legal documents. After all, they operate without a license and with shady investment conditions. If you still believe that offshore brokers can be trusted, check our OrbiTrade review.

Available Trading Assets

Most likely, all of the information displayed on the xafexbit.com platform is false. They do, however, offer a variety of tradeable assets. Some of the most prevalent choices are:

• BTC/USDT
• ETH/USDT
• XRP/USDT

Account Types

Account types in general encourage investors to make larger deposits. or to exchange more items. They receive better trading circumstances in either scenario. The xafexbit.com scam exchange only provides the following.

Mobile Trading App

The lack of a mobile app for this exchange is another red flag. Neither for iOS nor Android-based gadgets. Instead, you can choose exchanges that provide apps with millions of users.

Demo Account

In conclusion, no. Despite the fact that the company provides platform insight. But there isn’t a way to trade without using real money before investing it.

Education

Overall, you can’t expect proper education with unregulated companies. Simply because their goal is just to extort money from you. So, possibly they will teach you most of the things wrong. In this case, Xafexbit doesn’t even offer any educational program.

Xafexbit Withdrawal

The absence of a withdrawal policy suggests that probably not. The company doesn’t even provide funding options, processing times, or costs. Not to mention the fact that they are not licensed. All of this suggests that withdrawal issues are something to be prepared for.

There are a few techniques con artists use to delay withdrawals. AML regulations or KYC procedures could be to blame. Moreover, there are no taxes or fees.

Customer Support

Important to realize is that the company doesn’t offer any contact options. Practically, you can only get in touch with them once they call you. Of course, for that, you have to register with this scam company. Which is highly recommended to avoid.

Key Information To Consider About Xafexbit?

You are unable to file a legal complaint anywhere because the business is unregulated. You can, however, report it to alert other traders. What matters most is that the primary issue still has a solution. which generally refers to withdrawal.

You can submit a chargeback or use an alternative refund method depending on the funding method. For starters, one of those is the software CipherTrace. However, feel free to speak with our experts if you want to be sure exactly what to do in the following steps. The initial consultation is free after all. Therefore, we are awaiting your message. Contact us now.

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