The money shall be used to compensate clients in case of insolvency. It is also mandatory that the broker reports their opening and closing traders to the watchdog. Xglobalfin is a scam that will disappear with your funds.
Xglobalfin is a company that is a scam. This is a broker that is on the warning list of the CONSOB financial body. You should never trade with a blacklisted firm. That’s all the proof you need. Trading online is one of the modes that you could use to generate income.
However, this does not mean that you should blindly sign up to every platform that promises to make you rich. Various scammers flood the market. One wrong move could make you lose all your savings. Even worse, you will be sharing your ID with con artists.
We shall eat a hat if this venture survives in the market. The red flags that the entity displays are many to assume. The account manager that the broker brags about is nowhere to be seen. They also fail to provide their trading performance.
A genuine forex trading company will ensure that it has a license from a recognized body. They will even feature their banking information to prove to traders that their money is safe. However, if you deal with Xglobalfin, you are only exposing yourself to more risks.
The information regarding the parent company or founder is also missing. An SSL certificate will not be enough to protect your data. The scheme can choose to sell it to third parties.
Trading Conditions of Xglobalfin
The broker advertises leverage of 1:200. Unfortunately, the financial body of the USA only allows a ratio of 1:50. This should tell you that this is an illegal venture that does not hoot about the authority. The available trading platform is web-based.
The spread of Xglobalfin is not profitable. For the EURUSD pair, they grant 3 pips which are far from the average market standard. This is a scam that will not give you a superior advantage.
There are better schemes with perfect trading conditions. The companies even have the leading MetaTrader interface giving you a superior advantage. Refrain from dealing with the venue for your good.
Withdrawal and Deposits
The minimum amount that one can deposit in Xglobalfin is 500 EUR. This is a super expensive venture. Why would anyone want to grant them the benefit of the doubt yet the authorities have exposed them as a Ponzi scheme. Some entities are legit and take lower capital of $10.
Do not waste your time with fraud. The company is also using shady payment methods like PayTechno. Scammers commonly use it in the market. You are not going to get your cashback as it goes directly to the pockets of the fraudsters.
Xglobalfin fails to feature information on the withdrawal. However, if you accept their incentives, then you must meet a particular trade volume. For instance, the bonus must be completed for every bonus dollar than a turnover of 20,000 times, or else your money will be trapped in the system.
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The inactivity period starts taking effect if you have not engaged with your account for the last month. You must therefore pay a charge of $36 every month. The platform is a rip-off that only wants to make you poor.
Regulation Status of Xglobalfin
Of every other place this company chooses to lie, it is operating from the United States. This is one of the regions in the world. A company cannot run its business without depositing a capital of $2 million. Additionally, the firm must work with a reputable bank.
The money shall be used to compensate clients in case of insolvency. It is also mandatory that the broker reports their opening and closing traders to the watchdog. Xglobalfin is a scam that will disappear with your funds. There is no segregation of accounts. Therefore, recovering your funds is close to impossible.
The venture is also anonymous. Their trading conditions are unrealistic. Furthermore, the Italian government has warned citizens against engaging with the firm. There is no point in dealing with a shady firm like this one. We urge you to choose some of the transparent and licensed schemes instead.
The venture claims it has offices in Boulder, Colorado. This is misleading information. The scheme appears to be from Marshall Island, an infamous offshore region that hosts all kinds of rogue investment schemes. If you cannot trust the system with such minor details, what is the need to share your credentials with them?
Xglobalfin is a scheme that lacks adequate funds to hire a support team. Therefore, all the attempts to reach them will be unfruitful. The phone number will be disconnected when the entity realizes there is no money coming into their website.
However, this does not mean that the scheme will vanish. Con artists set up identical websites. The only thing that changes is their domain name. Their narrative will be even sweeter. The data that you shared before will be used to reach you. This is why we recommend that you never share anything with a shady venture.
A transparent company will set up an office. Their support will respond in time. All the necessary data that of their whereabout is accessible to the public. Invest with them to get professional and sound services.
Review from Xglobalfin Clients
Despite having a warning from CONSOB, Xglobalfin is also a scheme that has left many clients displeased. There are several complaints from those that leaped faith with the broker. The entity is not processing the withdrawal request of traders. This is expected given that they overcharge clients.
Additionally, the account managers abruptly change. They become rude and even go the extra mile of hurling insults to innocent customers. They refuse to answer emails or give back the money. The scheme is also shamelessly asking for more funds for them to process the withdrawal.
The banks are unable to assist those that have already made losses. The authority cannot help as the individuals are anonymous. The clients have given up the process of fund recovery. The claims of assigning each client an account manager are vague.
We also discovered that this is a chain of several scammers. They have numerous websites. Learn from the mistakes of those that have already lost funds. It is essential to research before falling for the lies of a scam.
The Domain Insight
We highly speculate that after the firm being exposed, they will close down their website. The entity made its first digital footprint in March 2021. Their domain has been registered for two years. The information regarding the founder is hidden from the public. Unfortunately, the scam seems to be getting much traffic globally. This means that traders are buying their narrative. We cannot tell the specific location of their victims.
Xglobalfin fakes its address. The company does not have a license. Several individuals have lost funds by entrusting their cash to the firm. The broker is only looking for ways to steal rather than help investors earn. Moreover, their trading conditions are also far from being perfect. If you want the best outcome, you are better off with other platforms.
Here is a list of reputable forex trading companies in the world. Their positive reputation in the market makes them trustworthy. You can also check out the experience of investors that have used their services. You will generate real-time returns. Your safety is also well taken care of.