You can find an alternative broker that is regulated from our broker ratings. As you can see from this detailed review there are a lot of signs pointing out XtreamForex scam. The brokerage is registered in the Marshall Islands and does not have a legal right to provide its financial and trading services to the worldwide audience. While at first glance some of the beginner traders might find XtreamForex to be a good broker, experienced traders can see that it is not trustworthy. The broker claims to has an award of the best broker with the tight spreads, but the information on the website shows that the broker does has higher spreads than average.
The company is ripping people off
All transactions occur via computer networks that connect traders worldwide. Xtreme Markets Copy Trading Program offers the opportunity to automatically copy trades of successful traders so that you do not have to spend many hours developing your own strategy. Specify the company’s connection with well-known brands, financial institutions, public organizations. Large brokers / crypto exchanges sometimes hold social promotions. And read them not only on the website of the broker itself / crypto exchange.
Excellent work with Xtream forex broker…
This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum. It is optimal to start by opening a demo account to get acquainted with the platform. Then, xtreamforex review choose a real account based on your preferred trading requirements.
In this case, you have to make sure that your strategy is well suited for the instrument you chose. Besides lots of currency pairs, XtreamForex also offers some instruments you would like to trade on, such as Forex, Stocks and Crypto for your best choice. And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
These spreads and commissions are all within the industry average which shows excellent improvements from the broker. Another type of scam is the “Ponzi scheme.” In this scenario, the fraudulent broker promises investors high returns on their investment but does not invest the funds. Instead, the broker uses investors’ money to return to earlier investors.
Traders can contact support using the following methods:
- Furthermore, neither Alexon Capital Ltd nor its affiliates provide any tax, accounting, or legal advice.
- Once you make your deposit by bank transfer, you will have to provide a swift copy of your transaction.
- Xtream Markets (formerly known as XtreamForex) is a legally registered forex broker located in the Marshall Islands, but not regulated by any government agency.
Unfortunately, there is a growing suspicion that XtreamForex may not be doing so. So, read reviews and compare other brokers to make an informed decision. XtreamForex Review, After looking at the XtreamForex broker’s website, it became clear what we needed to know. There is usually a lot to say about offshore brokerages, but none of the words are positive.
There is an option to trade on raw spreads starting from 0.0 pips with no dealing desk intervention. This can help to avoid any potential conflict of interest between you and the broker. This is a price that you pay to a broker when you enter and exit your trades. Traders need to practice their skills and learn from colleagues, study theoretical materials, and explore the latest trading methods.
The broker does not charge any fees for account deposits and withdrawals. However, some third-party processing fees can apply from the respective banks or payment processing companies. XtreamForex provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards.
Does XtreamForex offer demo accounts?
The information about XtreamForex withdrawal can only be seen on the Frequently Asked Questions page. This issue still needs to be addressed as withdrawals are probably more important than deposits. Also, the page informs that there are no withdrawal fees charged by the broker, but there are commissions charged by the payment companies. However, there is no further information about those that would make a trader choose which payment method is better for them. Whenever the broker states nothing about withdrawal fees we always assume there are commissions charged.
- In the date of the birth field, mention the company’s date of registration.
- This cheater company remove my access from their client portal and MT4 account.
- Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey.
- Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
- However, unlike a reliable broker like Plus500 or FP Markets, Xtreamforex has lower fees.
- The platform includes a section that offers literature for beginners, a structured article database, videos on copy trading, PAMM, and other services.
Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. The information on this website is for general purposes only and not a professional advice. Website visiors should seek professional advice before making any decision. We are not liable for errors or actions taken based on the information we have provided.
This article tells us about the fact that whether Xtreamforex is legit or a scam? Many negative factors have revealed that it is not safe to invest with Xtreamforex.com broker. This Xtreamforex review is founded on verifiable facts obtained from reliable sources. PayPal deposits as they are crucial, other payment method can have a lot of fees.
The lowest spread for the major currencies is for EUR/USD 1.2 pip. Other currencies, especially exotic ones have significantly high spreads. XtreamForex offers several trading accounts, in total there are five different types of accounts that one can choose from. These accounts are Micro account, Standard, ECN, ECN pro, and VIP account.
The MT4 trading platform is packed with useful trading tools and enhanced trading functionalities, such as one-click trading, multiple timeframes, various technical indicators, and more. In addition, the platform is fully customizable and comes with an intuitive user interface, making it suitable for all levels of traders. Trade a great selection of instruments with competitive conditions including raw spreads from 0.0 pips, low fees and fast execution speeds. Information on the TradersUnion.com website is for informational purposes only and does not constitute any motive or suggestion to visitors to invest money. Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk. According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit.
On a positive note, Xtreamforex does not charge any fees for withdrawals or deposits. The withdrawal requests may be processed within 2-4 days, depending on your service provider. Clients can deposit funds into their account using bank transfer, bitcoins, Visa, Skrill, or Neteller. The only base currency allowed is USD, so you will have to cover additional exchange fees if your local currency is different. Our review covers all aspects of the broker, from their trading platform to customer service.
Your one step can save you and other people from being cheated by such brokers. Scam brokers may create obstacles or delays when clients attempt to withdraw funds. Withdrawal requests may be subject to excessive fees, minimum thresholds, or simply rejected without valid reasons. Moreover, scam brokers are known for making unrealistic promises that defy market logic. Such claims are often too good to be true and should be regarded with extreme skepticism.
