Xoaru (xoarupro.com) has been flagged by Australian Securities and Investments Commission for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Do not be fooled by the professional-looking website. Behind the scenes, Xoaru (xoarupro.com) is disorganized and incompetent. I found them through word of mouth in my investment club and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Market news feed|Clean UI|Portfolio tracking tools
Cons: Limited social trading features
I was about to invest with Xoaru (xoarupro.com) but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Australian Securities and Investments Commission has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Unauthorized firm|Found in IOSCO warnings database
My card was charged twice by Xoaru (xoarupro.com) on the same day. I had to dispute it with my bank. Xoaru (xoarupro.com) then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Wide product range|Fast deposits
Cons: Slow to add new assets
I was contacted by Xoaru (xoarupro.com) through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Pros: Initially responsive customer service
Cons: No regulatory oversight|Money disappeared|Fake testimonials