Recently while surfing YouTube, I came across many advertisements of successful brokers. Here, by the successful broker, I am not mentioning certified and positively reviewed brokers. Instead, their dedications are represented false across the blogging platforms. In simple words, here I am reminding you of the great saying: “All that glitters are not gold”. It is nothing else than a silly mistake.
Your investments were in the danger zone if you registered on any broker platform after getting impressed by the advertisements. A total of 80/100 such advertisements are fake and spam leading.
In this article, I am going to gather your attention to one of these troubling brokers. Further, I will suggest a few alternatives. It might not bother you if you invested or are planning to invest $10. Investors planning to invest hundreds to thousands of dollars critically need to consider their decision 100× before proceeding to account registration and fund deposits.
Overview of Xtrade Europe
Xtrade review is unavailable on multiple sites, and site owners issued a notification for this as well. Do you know why? Various sites offer reviews on different brokers and attract referrals. They do so until it is beneficial. As the company is no longer complying with rules and obligations, site owners withdrew their partnership.
The company was established in 2009 and is usually called Xtrade Europe. It was introduced as a reliable trading platform but turned out to be a nightmare. People trusted it as it was under regulation by CySec. Now, your wallets will no longer be credited with deposit funds and, also external wallets will no longer receive withdrawals. You may say, “The story of Xtrade finished”.
Alternatives to Xtrade Europe
Let’s check for the alternatives because forex businesses still exist on multiple legitimate sites.
Admiral Markets UK
It is a legitimate broker positioned among the top 3 trusted brokers. If you have a minimum of 200 dollars to invest, sign up at the platform and deposit funds to start trading.
Here, I should mention that the account approval procedure is not instantaneous at Admiral Markets UK. You will have to submit KYC documents, and, later the firm will contact you for income details verification. You will receive a call from your region representative, and he will make you understand the requirements. They may ask for your bank statement and other information to verify that your income source is legitimate.
You may enjoy Forex, crypto, commodities, and other types of trading instruments after being approved at the platform.
FxPro
The broker offers a flexible trading platform with a minimum deposit of 100 dollars. Like Admiral Markets, various trading instruments are available including, Forex, crypto, indexes, and a few others excluding, Options and ETF. You can blindly trust the platform as the broker is under regulation by four legal bodies, including CySec, FCA, and two others.
Summing Up
By learning about scam brokers, you should not be scared about your decision. First, learn forex trading and then navigate to trusted brokers. For future dealings, remember not to trust every broker after watching an advertisement. You should search for detailed reviews on multiple sites and conclude the findings to make a proper decision.
