Reputable brokers that could be your potential allies on the world’s markets cannot be those that are blacklisted and confirmed scammers. In the case of one firm described in this XpertMarkets review, legitimacy is only superstitious, considering that a Tier 1 regulator saw straight through their lies.
As things are now, this relatively recently registered brokerage brand is already placed on a list of notorious frauds, despite the fancy claims and attractive offers. Keep reading to see how well sometimes con artists can conceal the truth and what you can do to get out of their thieving clutches.
| Regulated by: | Unregulated Broker |
| Is This Company Safe? | Never invest with trading portals without a proper license! |
| Known Websites: | |
| Have Warnings from: | CNMV |
| Registered in: | SVG |
| Operating since: | 2023-05-26 |
| Trading Platforms: | UTIP |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | $250 |
| Deposit Bonus: | Not available |
| Trading Assets: | Forex, Metals, Commodities, Shares CFDs, Crypto CFDs and Indices |
| Free Demo Account: | Available |
| How to Withdraw from This Company? | Despite claims, withdrawals aren’t likely with this one. For quickest results, contact our legal support crew. |
Blacklisted By Spanish Regulator
The fact that this company mainly targets Spanish audiences has attracted the attention of the country’s leading financial authority – CNMV. The regulator has confirmed in their public announcement that this firm is not authorized to sell their services and products to Spanish citizens.
On the other hand, the XpertMarkets scam claims to operate out of SVG, which is the most popular tax haven for all illicit Forex dealers. SVGFSA, which doesn’t regulate brokers, also doesn’t have a firm listed under the name and reg number that is provided on xpertmarkets.com.
You can be sure that safe trading on unregulated platforms like 70Trades and many other ones is neither safe nor profitable. Fund segregation doesn’t exist, and neither do compensation plans and risk reducing strategies.
Commonly Targeted Areas
This young domain has only been active for a couple of months, as according to the Whois track. Even several months were enough for these con artists to start defrauding decent traders from:
Mostly employed strategy of gathering new victims is via the engagement of the boiler room services. These scam agents are extremely well versed in manipulation and mind games.
Sometimes in just a matter of minutes, they’re able to convince their newest target to invest by promising huge returns and easy profit. If that doesn’t instantaneously work, they do not mind relentlessly calling their target, sometimes for days on end until they break them.
Trading Terms Indicate Loss
Although advertised as utterly profitable and helpful, the trading conditions presented on this website are anything but lucrative. You see, the leverage exponentially grows with the account tier. That’s how from 1:33, how much is maximally allowed on a starter account, the most expensive package features the highest leverage of 1:500.
In contrast to that, trading costs in form of spreads and commissions, progressively drop. From 1.7 pips featured on the most basic account, the spreads on the priciest one start at 0.5 pips.
None of these parameters could we confirm, though, considering that none of it is previewable from the platform itself.
Unimpressive Trading Tools
The advertised trading softwares are two bogus look alike platforms that are practically useless. Furthermore, investing so much money in the XpertMarkets accounts that are only attractive to the eye is borderline insane.
Not only because they’re overpriced but they do not offer anything you could firmly believe in, considering all the claims come from a blacklisted service provider.
UTIP Web Platforms
The two XpertMarkets platforms are not exact copies of each other, but in essence, they’re similar enough to make you wonder why there’s two of them to begin with. Both of the bogus software offer only several basic functions and a sidebar with rudimentary customization tools.
Neither of them can even come close to the complexity and competitiveness of the features provided by industry leaders like MT5 and cTrader.
Only Basic Asset Groups
Instead of actually providing the several hundred financial instruments for trading this bogus trading company only has several most common options to offer:
- Forex (EUR/USD, EUR/CHF, USD/JPY)
- Share CFDs (Adidas, BMW, Barclays)
- Indices (Dow Jones, Nasdaq, DAX)
- Commodities (Cotton, Brent Oil and WTI)
- Metals (Gold, Silver, Platinum, Palladium)
- CFDs on Crypto (BTC, ETH, XRP, NEO)
Overcharging For Bogus Accounts
Financial deceivers are known to often boost the prices of their offered accounts to suggest richness in features and options. This couldn’t be further from the truth, as is the case with this company.
While the packages differ in terms of pricing and leverage, all other alleged functions are the same. These are their deposit requirements:
- Classic – $250
- Advanced – $10,000
- PRO – $25,000
- Expert – $50,000
- VIP – $100,000
- Elite – $500,000
Payment Methods And Withdrawals
As per usual, the website will have you believe one set of deposit methods is available, while the client zone shows something completely different. Both in terms of deposits and XpertMarkets withdrawals, you will struggle with the broker’s dishonesty, lack of transparency and shadiness.
That is just one of the many reasons why we do not suggest investing with shady platforms that prevent transparent and safe transactions. You will be surprised to see that after all the claims about various funding methods being available only crypto channels are opened for transfers.
Contacting Support Is Futile
It remains unproven if XpertMarkets support even exists. Considering that the business owners have only provided a single email for communicating with clients, it is quite possible that no customer service exists.
An email is always given, since it makes ignoring requests and inquiries easy. Axiom Trade is another trading portal known for not paying attention to the clients’ complaints.
Final Verdict And How We Can Help
Being blacklisted by one of the EEA most prominent financial regulatory bodies instantly makes this platform unworthy of your trust, time and money. This renders all of their statements about premium service false and artificial.
However, if you’ve already invested here, you should do what is needed to ensure your funds are back with you in the shortest time possible.
To do that, we recommend you to contact our chargeback professionals and legal advisors. And don’t forget – the first consultation is completely free of charge!
FAQ Section
What Is XpertMarkets?
This is an unscrupulous offshore scheme without any licenses to provide brokerage services.
Is XpertMarkets Legit or Scam?
Yes, the firm is a proven scammer, as CNMV has already published in their alert. It is advisable to consult our legal crew if you wish to see your funds restored from the hands of this fraud.
What Are The Account Types Of XpertMarkets?
The accounts are as follows: Classic – $250, Advanced – $10,000, PRO – $25,000, Expert – $50,000, VIP – $100,000 and Elite – $500,000.
Source:
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