Dear traders, after discussions and email exchanges of other victims, we pieced together how XCFD runs their fraud schemes.
Their business model is to bet on retail traders losing money. They possibly don’t execute traders’ trades at all!!! So if a trader puts in 100 dollars as deposit and “loses” 80 and quits, they will only need to return 20 to this trader. And since they may have not made any execution of the trades, they are set to make 80 dollars straight. On the other hand, if a trader gains 20 from an initial deposit of 100, and asks to withdraw 120, they will find all excuses to negate the 20 gain, and return only 100 to that trader. I am the latter case.
This explains why the traders who made profit were never paid back more than the original deposits, and why the traders who lost money can relatively easily get their balance back (obviously minus an unreasonable transfer fee)…
A very nasty scheme! I would urge all victims to report to regulators to expose them and get them into jail asap!!!