XYZTrade has been flagged by Financial Services and Markets Authority for "Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After doing some research AFTER the fact (I know, I should have done this first), I discovered that XYZTrade is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
Do not be fooled by the professional-looking website. Behind the scenes, XYZTrade is disorganized and incompetent. I found them after a friend recommended them and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: No hidden fees|Regular updates|Multi-currency support
Cons: None so far
After seeing ads for XYZTrade online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Services and Markets Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Unauthorized firm|Found in IOSCO warnings database
For anyone considering XYZTrade, please be aware that this company has been flagged by Financial Services and Markets Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Flagged by international regulators|Due diligence required
I was contacted by XYZTrade 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.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
XYZTrade has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Copy trading available|High security standards|No hidden fees
Cons: Slow to add new assets
I found XYZTrade based on a colleague's recommendation and the initial impression was positive. But since the beginning of the year later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Smooth onboarding|API access|Two-factor authentication|Easy to use platform
Cons: Cannot customize dashboard fully