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The United Kingdom’s Financial Conduct Authority has issued a warning against XStream Trade in October 2023
If you are looking for a reliable and trustworthy online trading platform, you might have come across XStream Trade. This broker claims to offer a wide range of assets, including forex, stocks, commodities, indices, and cryptocurrencies. But is XStream Trade a scam or a legit broker? In this review, we will examine the features, pros, and cons of XStream Trade and help you decide if it is worth your time and money.
What is XStream Trade?
XStream Trade is an online trading platform that was launched in 2018. It is owned and operated by XStream Trade Ltd, a company registered in St. Vincent and the Grenadines. According to its website, XStream Trade has over 250,000 clients from more than 100 countries and provides access to over 1,000 trading instruments.
XStream Trade offers four types of accounts: Basic, Silver, Gold, and Platinum. The minimum deposit for the Basic account is $250, while the maximum leverage is 1:200. The Silver account requires a minimum deposit of $1,000 and offers a leverage of up to 1:400. The Gold account has a minimum deposit of $5,000 and a leverage of up to 1:500. The Platinum account is the most advanced and requires a minimum deposit of $25,000 and offers a leverage of up to 1:1000.
XStream Trade also provides various tools and services to its clients, such as educational materials, market analysis, trading signals, webinars, personal account managers, and customer support.
Is XStream Trade a Scam or a Legit Broker?
XStream Trade is not regulated by any reputable authority, such as the Financial Conduct Authority (FCA) in the UK or the Cyprus Securities and Exchange Commission (CySEC) in the EU. This means that XStream Trade does not have to comply with any rules or standards that protect the interests and rights of traders. Moreover, XStream Trade does not segregate its clients’ funds from its own, which means that your money is not safe in case of insolvency or fraud.
There are also many negative reviews and complaints about XStream Trade on the internet. Some of the common issues reported by users include:
- Difficulty in withdrawing funds
- High fees and commissions
- Manipulation of prices and spreads
- False or misleading advertising
- Aggressive or rude customer service
- Unauthorized charges or deductions
Based on these facts, we can conclude that XStream Trade is not a legit broker but a scam that should be avoided at all costs. If you are looking for a reliable and regulated online trading platform, we recommend you to check out our list of the best brokers here.
What to Do If You’ve Lost Money with XStream Trade?
If you have been scammed by XStream Trade or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.