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As Xtrade could be carrying out regulated activities without our regulation, I will escalate this information internally to our Unauthorised Business Department for their consideration.Please note we won’t be able to keep you updated with regards to any investigations we may carry out in relation to this matter however, we thank you for bringing this to our attention.
Firstly they claim to be registered and licenced with the Cyprus authorities Cysec and that they can trade all over Europe including the UK.
In 2016 alone over 250,000 traders read over 18,500 forex broker reviews from our database and added almost 2,500 new ones.
Combined with our investigations, traders court activity, and early scam alert warnings we are aware of many forex brokers that are likely to be stealing traders money right now.
Then they will tell you to make real money you need to trade German 50 and Italy 30 and they will tell you that the market is going up or down and to buy or sell and guaranteed you will make big losses.
Then if you try to withdraw your money they make it hard for you, and make it hard to withdraw profits.