XTrader Review – Blacklists Don’t Lie

Recognizing fraud is more difficult than it seems at first. Online swindlers have taken numerous measures to ensure their scheme remains well-hidden and will use a myriad of manipulative strategies to steal from their marks.

Our XTrader review will show you how to spot these hoaxes more easily and recover money lost on one.

Operates Without Permissions

From what can be seen on the site, this firm has an extremely confusing legal background. For instance, the XTrader broker claims to be registered in the UK as X Capital Group Limited. At the same time, they also claim to legally operate out of Belgium under a different name—Tholvi Finance.

While these companies indeed exist, the suspicious website doesn’t have to be linked to them in any way, shape, or form. None of their claims could be proven. In addition, legal documents found on the site mention an entirely different company – OCTO GROUPS MANAGEMENT LTD, of which we know nothing.

What you will easily stumble upon if you search for this domain are blacklists. This conduct is not only unlawful but also solicits traders from all parts of the globe without a single regulatory permit. Regulatory bodies that have raised a red flag against this business are IOSCO, CONSOB, AMF, AFM, OSC, and CSA… For now.

How Victims Get Involved With Fraud

The entire xtrader.ca website is packed with lies and false adverts, one of which is claiming 10 years of experience. The WhoIs information clearly shows that the website was created in November 2023.

This young age is the reason why you won’t find any XTrader reviews online. Fraud primarily targets people from these areas:

• United Kingdom
• Spain
• Brazil
• Turkiye
• United States

To attract victims without any advertisements or online presence, this con circle, like Capital BLF, uses a so-called boiler room. It is a fraud call center, employing young and persuasive people who lack any scruples. Driven by their greed, boiler room agents will go to any length to get the money out of your pockets. Most commonly, they claim to be experts from a well-established financial institution who just happen to be looking for investors.

No matter how sweet the deal may sound, it’s just bait to take your cash. If you’ve already deposited funds with one such scheme, don’t worry – our experts can help you recover it.

No Fees?

It is simply impossible that all of the services offered on the XTrader platform are free. The question is simple: How does the broker earn? While their deceptive marketing practices may lead you to believe in a fee-free service, be sure that something like that doesn’t exist.

Legal documentation that should be transparent about certain billing conditions and special charges also doesn’t reveal anything of value. It is entirely unknown what costs apply to this trading portal. This is extremely characteristic of fraudulent trading servers, so make sure you avoid such sites.

Barebone Trading Amenities

One thing all these online frauds have in common is that they advertise an exceptional, cutting-edge trading environment—and then they don’t deliver.  Usually, it’s just a few basic features added to keep the clients complacent. Most of the time, it’s another layer of fraud designed to keep you wasting your money.

Useless Trading App

We created an XTrader login account and accessed the dashboard, only to find out that the trading app is just another horrible WebTrader. So much for the “advanced analytics implementation” that was advertised on the site.

The program does have some basic features like pending order and stop loss, but it doesn’t have its own charting protocol. Instead, it uses TradingView charts, but with a good amount of delay so that the con artists can “predict” the market shifts and impress their marks.

Tiny Asset Selection

The website itself doesn’t contain any information about trading assets. This is a stark contrast to what you’d see with regulated businesses like Solid ECN, for instance.

Only by accessing the XTrader app did we learn that these instrument groups are available:

• Forex – EUR/USD, AUD/CAD, USD/JPY
• Cryptocurrencies – BTC/USD, ETH/USD, SOL/USD
• Stocks – NVDA, AAPL, BABA
• Indices – FTSE, NDX, DXY

Tiered Trading Accounts

The XTrader trading accounts are tiered. This allows con artists to come back to the same victim and ask for more deposits, justified by alleged benefits.

Of course, these are all fictitious and are hardly worth the increasing price tag:

• Basic – $250
• Standard – $1,000
• Premium – $5,000

No Withdrawal Information

The company website never mentioned any withdrawal conditions for clients. We’ve tried looking into the Terms and Conditions document, but it is a single text page that doesn’t even contain the word “withdrawal.”

Again, we have to access the client dashboard for any info on this topic. There doesn’t seem to be any automatic payment processing involved, as clients are required to fill in a digital form and hope for the best. Supported payout channels include, allegedly, bank cards, bank wires, and cryptocurrency transfers.

Who Answers Inquiries

If you want to find out more about what the company has to offer, or you’re facing an issue that you can’t solve, you are directed to the customer support office. The following methods are available for contact:

Considering we’re reviewing a scam company, you shouldn’t expect them to answer your questions properly at all. Fraudsters aren’t merciful or understanding towards their victims. No one will help you resolve your problem or listen to your complaints.

We Offer Real Help

Are you a victim of the XTrader scam? Then look no further for the right chargeback specialist to help you restore your stolen assets! 

Our legal professionals can advise and support you throughout the fund recovery process and make sure you get your stolen investment back. Contact our chat agents and book a free consultation at your convenience.

FAQ Section

What is XTrader?

It is an online Forex trading scam. If you invested any funds with this platform, contact our legal team as soon as possible.

Is XTrader Legit?

No, the company is completely bogus. The website itself has been placed on numerous regulatory blacklists.

Where is XTrader Located?

Allegedly, the firm has offices in the UK and Belgium. However, there is no trace of the firm in any official register except public warning bulletins.