Traders beware!

My friends, I would like to share with my complete experience with XCFD, so far the most stunningly fraudulent forex and CFD broker I have ever encountered.  After I deposited USD15,000 with them, I made USD3,532 profit on the market by taking risks, and when I found their service substandard and asked to withdraw my money, they embezzled around USD3,335 of my fund through fraudulent and excessive financial and wire transfer charges. 

I have recorded all the transactions and interactions with this scam broker, and I am sharing them on this website . You will find a full chronicle of the events and how they embezzled clients’ fund, and evidence and documentation of their actions on this website.

Linkage to Exante?

Accidentally, when I first deposited with them, they told me that XCFD couldn’t take deposit over USD20,000 (I think it was for the best because I wanted to deposit more with them due to their tight spread – foolish me…), and if I wanted to deposit more I should try their prime broker Exante.

XCFD relationship manager Olga referred me to an Exante salesman, who then called me from Cyprus as Exante is based in Cyprus. He sent me a link to Exante, and to my surprise, XCFD’s trading platform looks exactly like Exante’s. Though Exante claims that XCFD is a separate entity, I feel that the two organizations work very closely with each other.

Report to regulator

On their website, it shows that “xCFD Limited is a registered New Zealand Company (# 4579019) and is listed on New Zealand’s Financial Service Provider Register (#FSP309046). It is also a member of the Financial Dispute Resolution Service.” I have contacted both “regulators” for the complaint. I will keep you all posted about how it goes.

Share your experience with XCDF to get them fully exposed

Please also share your experience with us so that we can fight such fraudulent brokers together and keep the market place clean and fair! Email me at xcfd-fraud-exposed@hotmail.com

2 thoughts on “Traders beware!

  1. Trevor Noyes

    I also have a bad experience with this broker. For the same reason I was atteacted by the low spreads they offer. Also I read that they had no rollover fees. It was on some commercial site, but this feature has now been removed. Happily I only put in 300 Euros.
    The Rollover fees were outrageous. based on 50% on yearbases for the trade volume. Nothing was clear about it, but the loss amount was suddenly 40% higher than it should be. Then they suddenly stole money off my aaccount for no reasons. Every time I made a profit, the next day the money was gone. It went down and down and down. Eventually I just gave up.

    Really I want this swindler company closed and the owners in Jail!

    Reply
    1. Ericbai_540z4v69 Post author

      Dear Trevor, thanks very much for sharing your experience. I entirely empathize with you, and would make a suggestion: could you file a complaint to the Financial Markets Authority of New Zealand at https://www.fma.govt.nz/contact/make-a-complaint/ , and then post your experience on these two forex review websites http://www.forexpeacearmy.com/public/review/www.xcfd.com and http://www.earnforex.com/forex-brokers/xCFD.

      I think this is really the best way to get these criminals’ scheme exposed and get them in custody. Prison should be their destiny.

      Reply

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