Abstract：Pending withdrawal requests at Xtrade giving you sleepless nights? Losing capital but being made to invest more for smooth withdrawal access? Not being informed of the investment risks by Xtrade? All these are clear warning signs that Xtrade may not be operating transparently. The growing number of trader complaints against the broker explains our suspicion. In this article, we will share several concerns faced by traders at Xtrade. Take a look!
Pending withdrawal requests at Xtrade giving you sleepless nights? Losing capital but being made to invest more for smooth withdrawal access? Not being informed of the investment risks by Xtrade? All these are clear warning signs that Xtrade may not be operating transparently. The growing number of trader complaints against the broker explains our suspicion. In this article, we will share several concerns faced by traders at Xtrade. Take a look!
Top Complaints Against Xtrade
Constant Deposit Pressure for Traders
Xtrade continues to force traders into depositing, claiming that failing to do so might result in losing everything. Even when trades do well, the broker denies traders from accessing fund withdrawals. Here is the screenshot wherein the trader kept depositing under the fear of losing everything.
Processing Fee Charge and Further Deposits Make the Trading Experience Worse
Traders frequently encounter losses and try to withdraw whatever is left in the trading account. However, to their utter surprise, they are made to deposit further. Some traders even complain about the processing fee charges on withdrawals. Sharing a screenshot wherein a trader has expressed helplessness over withdrawals owing to these issues.
Reaching Out to Novice Traders for Scams
XTrade executives often reach out to clients who do not know much about forex investments. These executives trick novice traders into investing by glorifying bonus schemes and profitable investments. However, nothing of that sort turns out for traders as per their claims. Here is that screenshot that made us ponder.
Leaving Traders When They Need the Broker Support the Most
As a forex broker, it is the responsibility to inform traders of the investment risks, even if they have ambitious sales targets to accomplish. As traders find themselves in a tricky situation, Xtrade leaves them on their own. As per a trader, the salesman hired at this broker told everyone to operate without authorization and refused to own the mistake. Here are the words of the trader.
The Poor Score for Xtrade
Considering the complaints and overall trading risks, the WikiFX team gives Xtrade a poor score of 1.76 out of 10. The broker needs to improve its brand equity by boosting transparency and ethical operations.
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