Xtradesness Review: A Suspicious Broker You Should Avoid

Is Xtradesness Legit or Scam?

Absolutely not! Xtradesness is a proven scam. They lure potential victims with promises of a user-friendly platform and high returns but deliver nothing but empty claims and stolen funds.

Are you considering trading with Xtradesness? Before you invest your hard-earned money, it’s crucial to understand the risks involved. This review will expose Xtradesness as a scam broker and highlight the red flags you should watch out for.

Company Overview

Services or Products

Xtradesness claims to offer a wide range of trading options, including:

• Forex
• Cryptocurrencies
• Commodities
• Stocks
• Indices

However, the actual selection is likely limited, and the platform itself is designed to be confusing and difficult to navigate.

If you have lost money to companies like Latoken, or Oro Markets; please report it to us on our report a scam form.

Trading Platform & Leverages

Xtradesness boasts a web-based trading platform that supposedly resembles the popular MT4 terminal. Don’t be fooled! Their platform is slow, unresponsive, and offers minimal functionality.

The maximum leverage advertised is a risky 1:500, which can amplify losses significantly.

Spreads and Cost of Trading

Xtradesness cleverly hides crucial information like spreads and commissions, making it impossible to calculate true trading costs. This lack of transparency is a major red flag.

License and Regulations

Xtradesness is completely unregulated. They falsely claim to be based in Cyprus, but no such company exists under their claimed name in the CySEC database. Additionally, the Central Bank of Russia has issued a warning against them.

Legal Warning Against Xtradesness

The Central Bank of Russia’s warning highlights the dangers of unregulated brokers like Xtradesness. They lack:

• Fund Safety: Your money is not segregated from the company’s funds, putting it at high risk.
• Compensation Scheme: No investor protection scheme exists in case the company goes bankrupt.
• Negative Balance Protection: You could end up owing the company more than your initial investment.

Deposit and Withdrawal Methods

Xtradesness deceptively claims fast and free deposits and withdrawals. In reality, they only offer one payment method: credit cards processed through an anonymous service called Intercassa, which is likely fake. Never share your credit card details with them!

Xtradesness Pros and Cons

Why Dealing With An Unlicensed Broker Is Risky

Unlicensed brokers like Xtradesness operate outside the law. This means:

• No Guarantee of Fair Trading: The platform can be manipulated to steal your money.
• Difficult to Recover Funds: If scammed, getting your money back is a complex and often unsuccessful process.
• No Dispute Resolution: You have no legal recourse if they refuse withdrawals or engage in unfair practices.

Client Feedback

There are likely negative reviews from past victims online. However, it’s best to avoid Xtradesness altogether and choose a reputable, regulated broker.

How Can “ReviewsAdvice” Help You If You Get Scammed?

Unfortunately, recovering funds from a scam broker can be challenging. However, some resources might help.