XtreamForex (xtreamforex.com) is a shoddy CFDs, Crypto Currency, and Forex broker out to cause havoc. Xtream Forex is a platform whose intent is to steal funds from users who sign up with them. After receiving numerous email complaints, we had to check what was happening. Most members were crying foul after making deposits with this broker. What is going on with this broker? Read this explicit XTREAMFOREX review for more.
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What makes trading with XtreamForex a problem is their lack of adequate website design. After landing on their homepage, we immediately noticed some flaws. Most scammers will create a visually compelling website to entice newbies to sign up. Problems with this platform are dire and exposing them is what’s needed. How can users be signing up with a rogue broker? Most newbie investors don’t conduct a thorough research before signing up. And this is a huge concern.
Professional scam artists have decided cloning a website is one way to scam investors. By creating a cloned website, scammers know what exactly they are after. Claims and promises are plastered all over to entice unsuspecting investors to sign up. Dealing with such brokers is highly unethical and uncalled for. Promises are used in droves to drive investors to sign up. Trusting such claims usually leads to more misery. Get to know why XtreamForex is a total scam to avoid.
According to the disclaimer at the footer of their homepage, Grand Investing Ltd owns this platform. A problem with this information is in regards to actual ownership details. Who are the founding members of this platform? How can we find details concerning people running this platform? Why is it impossible to get names of CEO or CFO of this company? After checking around, no details came out regarding actual names. And this is a huge problem to anyone concerned.
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Dealing with an anonymous broker is a wrong move. Grand Investing Ltd is apparently based in Marshal Islands. Why would anyone be interested in opening an account with an offshore broker? Offshore brokers are well known for flaunting set regulation and rules. Demanding more, we tried contacting this broker. And sadly, there has been no response from this broker. It’s imperative no one signs up with an offshore anonymous broker. Chances are, this is a scam.
XtreamForex is not licensed or registered by any regulatory body. Fact is, they claim to be based in Marshall Islands. Having a broker who is not licensed is a huge problem for safety concerns. No broker can offer safe trading conditions or assurance if they have no licensing. After checking with numerous regulatory bodies, no results popped up. What we did was try and conduct research using known regulatory bodies. None has any details with XtreamForex.
Where are their licensing details to prove authenticity? Lack of such crucial details is what makes XtreamForex a scam. As a rule of thumb, never sign up with a broker who fails to show licensing details. A true broker will post copies of their licensing details to try and feign legitimacy. Whoever signs up with this broker will be in for a rude surprise. Make sure to sign up with reputable brokers who have valid licenses. Stay away from Xtream Forex broker at all times.
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Another perturbing issue we found with XtreamForex is in regards to depositing funds. Funding accounts with this platform is easy and quick. Scam artists ensure they use available depository channels to quickly have your funds. Depository channels used include Bitcoin, Jeton, Maestro, Neteller, Skrill, and others. As it happens, depositing funds with Xtream Forex takes less than five minutes to occur.
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Withdrawing funds with XtreamForex is what makes it a total scam. No user has been able to withdraw funds with this platform. And it’s what which makes it a scam. Scam artists will offer a platform which looks real, and in real sense, it’s far from it. Members who have been using this platform are having a hard time withdrawing funds. Stay away from any broker who fails to allow withdrawals.
XtreamForex is equipping users with Standard, VIP, and ECN Pro account. Another shocking detail with these accounts is what they actually represent. Accounts used here are a way of enticing users to sign up. In fact, this broker is hoping no one takes a look at their features. In all honesty, there’s no visible difference in what the accounts offer.
When it comes to advantages of these accounts, none can be seen so far. Another shocking detail with these accounts is having unavailable account managers. Before depositing funds, account managers will call daily and ask for your funds. After funding accounts, these managers go under. And this is what makes trading with xtreamforex a huge problem.
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What we found odd with security of funds is how they are being handled. A real broker will ensure security of funds is their utmost responsibility. What these brokers have done is beak every rule. Xtream Forex is pooling funds in one account which is a dangerous setting. Did you know members are depositing funds straight to owner’s personal bank account? What a brutal broker to trade with.
Another issue we found with this platform is in regards to segregation of accounts. Dealing with a broker who fails to segregate accounts is a huge problem. Make sure to stay away from any broker who doesn’t follow set rules and regulations. Did you know this broker does not insure funds? In case of bankruptcy and insolvency, users will lose all their funds. Stay away from this platform.
With all evidence we gathered, its clear XtreamForex is a total scam. With being offshore brokers and having no license, members are dealing with a certified scam.
Adding this platform to our scam blacklist will help protect our readers. Make sure to stay away from this platform.
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Wishing all investors a safe trading experience.
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