‘Trading is for everyone, just start with any firm’, is the worst statement to be trusted. At first, trading requires knowledge and calculation, secondly, every platform cannot be trusted. There are plenty of platforms with immensely high risk, which needs to be addressed. One such dubious firm, Xmarket-finance, is worth an explicit analysis.
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Xmarket-finance has been deceptive in its appearance and maintains the image, for obvious reasons. The ones, yet not familiar with the brand are lucky enough, however, for the sake of awareness the fallacious facts of the firm, must be addressed.
Claiming itself to be an online broker, Xmarket-finance is a deceptive scammer. Most of the information it provides in public domain is fake, furthermore, the so-called global brand has a complete French website, with no options of translation. Xmarket-finance makes sure that none of its data could be used as legal construct by its victims and hence, makes their website clueless for even the French traders.
Xmarket-finance & its fabricated face
Xmarket-finance tried hard to portray itself as a firm with professional-ethics and in order to do the same, it stood up with the idea of falsely claiming its registration. Although the claims got brutally unveiled, as the local financial security authority, the Securities and Futures Commission (SFC) verified its rouge presence.
Enabling the details of Xmarket-finance in the official website of SFC, it could be notified that there is “no match of XMarket-finance”, which indicates a possibility of no formal registration of the firm, at all.
However, registered or not, the firm is still stubborn to help the traders.
According to Xmarket-finance.com, it provides its consumers with a wide range of options in trading. The company asserts its trade in various instruments namely, currency, stocks, crypto, indices and commodities. It also, shout-outs its offering to trade in varying accounts. However, according to reliable sources, the construct of six account-type, namely, Startup, Classic, Intermediate, Advance, Integral, and VIP, is a mere approach towards widening the perplexity by Xmarket-finance. Each account-type is advertised with a different set of statements and charged with different minimum deposits, ranging between $500 to $250,000. Although, even the most-authentic trading brokers charge minimum deposits ranging from $50-$200.
However, not solely in trade, the firm provides traders with several options of payment methods, too. The payment methods offered by Xmarket-finance are credit cards, e-wallets like PayPal and Skrill, crypto, Neteller and bank wires. Not to mention here, that the firm’s solitary purpose is to collect investment money and hence, the deposition methods are exclusively glitch-free, leaving all the glitches in the back-seat of ‘withdrawal’. Rather, it could be said that, providing each and every legitimate method of payment deposition is mandatory for each and every, illegitimate firm.
Xmarket-finance: A facade masked with trading aid
Xmarket-finance is a financial firm, with deceptive functionality, is an undeniable fact. However, the believers can still trust its claims, based on the ‘higher risk – higher returns’ theme-play. Although, no authentic source of the firm’s valid documentation is accessible on public domain. Even, the address mentioned by the firm, accounting for its physical address is indicative of forgery. Moreover, few authentic sources claim the physical address mentioned on the website, to be the registration address of Hong-Kong.
The truth is yet to be revealed, but Xmarket-finance has given the traders enough reasons to lose their mental peace. Let’s get into the brains of the worried, traders:
Leverage
Every trader intends to make clear calculations, regarding the effect of money-market in his pockets. This intention of being in the upper edge of the traders is well understood by the trading platforms and hence, they mention explicitly their leverage scheme. However, Xmarket-finance fails to do so. Also, it seems like the firm has least interest in accompanying the traders, in their intentions. As, in several aspects the firm is ignorant to its clients.
Withdrawal Requirements
Money is invested in the form of capital or assets in order to multiply it and direct the revenue to traders’ personal savings accounts. However, the unspecificity of Xmarket-finance.com regarding the withdrawal requirements, make this fundamental purpose of trading dubious. Xmarket-finance.com in no column of their website clearly states the withdrawal requirements which eventually result in fraughtness.
Trading platform
Legitimate trading sites mention their trading platforms in order to specify the clients of fair deals and financial security. Trading brokers are well aware of specific sites like MetaTrader4 and MT5, which provide safety and security, along with advanced features in basic value. Now, a company like Xmarket-finance, that claims heavy returns, doesn’t spend on a formal trading platform. Isn’t it suspicious?, specifically when you are paying, minimum, $500 for its mere, basic facilities.
Xmarket Spread
Market spread specifies the range, till which an asset can be valued, as it studies the gap between the value people are willing to pay to buy an asset, and the value in which people will buy the same asset. Each trading platform, with authenticity, clarifies this gap, in order to let its client be aware of the actual price of the asset. However, here too Xmarket-finance maintains the ambiguity.
Xmarket-finance.com: No guarantee | No regulation | No segregation
As stated, the firm, Xmarket-finance.com is under risk. It won’t be wrong to warn traders of its potential collapse. The firm provides no guarantee of the funds, its returns and recovery. Besides, Xmarket-finance has lucid transaction conditions, with disguised claws.
Xmarket-finance, doesn’t even account for an authentic forex license and could be declared as an anonymous website. However, yet it prevails in the trade market, giggling at the lack of our knowledge and security.
Xmarket-finance has been fooling the naive traders and is not accountable for any of the mishaps, as the firm is smart enough to discord itself from the chaos created. The more intense the chaos, the stronger the silence of Xmarket-finance.
Xmarket-finance, not solely breaches the security of financial assets but also, places naive traders into a position of ‘no return’.
Usually, the trading platforms are regulated, and they are overviewed by the governmental authorities, to check the overseas fraud and unfair means. However, Xmarket-finance is a non-regulated firm, which gives it freedom to be imprudent for the investments. Being associated with a non-regulated firm, means we allow the firm to be non-accountable to our assets and work without any specific guidelines.
On top of that, Xmarket-finance, is a firm with, ‘No negative balance protection’. So, if a person trades of $10000 and has a loss of 15%, with $100000 in his account balance, eventually the person will be having negative balance in his trading account and this will make him loose higher than he invested, may be 2 times, 4 times, or even 10 times of the principal amount. However, if we magnify our vision to clearly look at the threats Xmarket-finance poses, it would be depicted that in case of a firm’s collapse, there are high chances that all the investors will lose all of the money.
The firm, Xmarket-finance, is a non-segregated firm. This makes the assets of traders vulnerable in front of the company’s creditors. In simple terms, a non-segregated firm is not under any legal pressure to keep the assets of clients separate from its own. Non-segregation allows the firm to invest the assets of clients irrespective of their will, in the time of bankruptcy.
Now, imagine a scenario when, Xmarkets-finance is unable to generate returns and 4 naive wealthy traders come and invest $1000000, in the firm. Under the bushes, Xmarket-finance has a chance to not pay the returns and declare itself bankrupt, keeping all the assets for itself. However, in no ground we assert the certainty of the above mentioned, but merely, indicate the threat Xmarket-finance poses.
What is Investment Fraud?
A Ponzi scheme is a fraudulent investment where returns are paid to older investors using the funds of new investors. The organizers offer high returns with little or no risk.
Xmarket-finance.com: Potential cyber threat
Xmarket-finance does not assure the platform used for trading, neither it has regulations for financial loses, this makes Xmarket-finance, a cozy work-place for hackers and scammers.
The financial threats faced by Xmarket-finance traders are worth worrying but accompanied cyber threats can be anxiety driving. The non-specific platform usage of the firm makes the traders vulnerable in front of viruses, malwares, scammers and hackers. Even a single download can contain malicious threats. The traders face potential risk, each time they click a link. With each click, the traders face highly destructive threats. Ironically, the platform claiming to aid traders in smooth trade making and preventing them from losses, has high chances of placing the traders into the verge of bankruptcy.
Conclusion
The firm, Xmarket-finance, is an anonymous website, which has dubious functionality. Although the firm claims to provide safety, security, suggestions, revenue and returns, on contrary, it does the opposite. Xmarket-finance, covers itself in the veils of trading platform, but certainly, the firm has contrary agendas. The firm is a non-licensed, non-regulated and non-segregated financial institution, with no negative balance protection, this makes it the last option for being selected as a trading partner. Also, Xmarket-finance provides no documentation regarding its ownership, address, and administration, adding on to the doubt of the rationals.
Furthermore, the firm claims to provide heavy returns and make smooth transactions, but fails to provide fundamental details of trading, namely, leverage, spread gap, withdrawal requirements etc. However, after being highly shady the firm has the audacity to ask for, immensely high minimum deposition value. On honest grounds, the firm, Xmarket-finance is a highly unwise option for trading. Especially when firms with similar claims and authentic security are available. To name a few, FP markets and Octa markets could be considered.
Lastly, it is suggested that every firm has potential risk and hence, if anyone wants to start trading, in-depth knowledge and information is mandatory.
I was a victim of a fake broker who keep asking for more fee with out allowing me to make a withdrawal from my account but luckily getting back my lost funds was possible with the help of an expert nick Jover 4 at Gm com , who help and guide me through where I was able to claim back all my lost from the account..