Xtrade are scammers - Class Action being organised

advent

Private
Messages
22
I have been scammed by Xtrade and read about many others here being scammed as well.

I am organising a class action group if anyone is interested to get in touch.
 

advent

Private
Messages
22
Xtrade have been fined 225000 euros by CYSEC for breaches - proving that we victims were scammed for real.

smnweekly.com/2016/10/25/xtrade-fined-e225-000-by-cysec-for-numerous-offenses
 
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BlackViper

Private
Messages
29
XTRADE is using very unfair conditions in their platform.

First of all, there is a very big latency in the execution.
Near volatile events, an order may need even 30 SECS in order to take place.
Meanwhile their platform is using an animation (a cycle turning, with application like style) , frosting any other possible action giving you no option to cancel this situation that you could not even imagine.
And the nightmare doesn't end here....
The most TRAGIC of all is coming after :
If you ask to open a position (for example buy) a specific instrument, and you wait for all those secs, it's not even then guaranteed that you will have your position opened!!!
You may receive a msg ''the price has changed ''! That is happening if the market is moving favoring you!
In the case that the market had dropped in the meanwhile (going against you) you will find your order opened with a big slippage and your position suffering a big loss from the very beginning!!!

This is not happening with other brokers.
Either a broker has requoting, so he is asking for your affirmation to open the position on a different price every time , OR he offers no requoting, and he is opening every order to the asked price giving you profit or loss if the market went with your trade or against it!

XTRADE has a kind of ''selective'' requoting.
XTRADE is asking you for permission again if the price goes to the direction you wanted to (telling you that finally the price has changed) , pretending that she couldn't buy on the asked price.
But there is no requoting if the market goes against your asked position!! Then your trade is always opened, of course with a big slippage almost always!

It's really scandalous, that the regulators haven't taken more drastic measures against this company, because EVERYTHING from the above can be proved very easily, with a just 10 mins video and a few trading actions.

Stay AWAY from XTRADE
 

advent

Private
Messages
22
You are exactly right that happened to me
They cannot be trusted I posted a you tube video about their scam nearly 80000 views already
 

advent

Private
Messages
22
XTRADE is using very unfair conditions in their platform.

First of all, there is a very big latency in the execution.
Near volatile events, an order may need even 30 SECS in order to take place.
Meanwhile their platform is using an animation (a cycle turning, with application like style) , frosting any other possible action giving you no option to cancel this situation that you could not even imagine.
And the nightmare doesn't end here....
The most TRAGIC of all is coming after :
If you ask to open a position (for example buy) a specific instrument, and you wait for all those secs, it's not even then guaranteed that you will have your position opened!!!
You may receive a msg ''the price has changed ''! That is happening if the market is moving favoring you!
In the case that the market had dropped in the meanwhile (going against you) you will find your order opened with a big slippage and your position suffering a big loss from the very beginning!!!

This is not happening with other brokers.
Either a broker has requoting, so he is asking for your affirmation to open the position on a different price every time , OR he offers no requoting, and he is opening every order to the asked price giving you profit or loss if the market went with your trade or against it!

XTRADE has a kind of ''selective'' requoting.
XTRADE is asking you for permission again if the price goes to the direction you wanted to (telling you that finally the price has changed) , pretending that she couldn't buy on the asked price.
But there is no requoting if the market goes against your asked position!! Then your trade is always opened, of course with a big slippage almost always!

It's really scandalous, that the regulators haven't taken more drastic measures against this company, because EVERYTHING from the above can be proved very easily, with a just 10 mins video and a few trading actions.

Stay AWAY from XTRADE
Please share your story on my blog the more we complain the more we can get justice
 

advent

Private
Messages
22
This video is starting to affect and warn other against Xtrade - please like and add your comments
youtube.com/watch?v=Tq8ymc1-mbw
 

Ramin123

Recruit
Messages
15
I have been scammed by Xtrade and read about many others here being scammed as well.

I am organising a class action group if anyone is interested to get in touch.

I lost £12000 to XTRADE due to the exact reasons they are fined for!! I filed a complaint with The financial ombudsman of Cyprus, looks like it may have helped!!! I'd like to join your group of action, can you give more info? Does this fine mean we will get our money back?

I
 
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