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"You will lose to the last penny if you invest in XM Trading Forex." Victims claimed
Abstract： XM Trading Forex is an online forex broker that pretends to be the real XM. Recently, WikiFX has received a lot of complaints about this fake clone. As a result, there is no better time than now to air this broker's dirty laundry.
Fake XM
Founded in 2009, XM is a globally recognized broker with over 600 professionals who have been working in the financial sector for many years, serving over 5,000,000 clients from 196 countries and regions. Everyone's access to an advanced and transparent trading environment has been made possible thanks to the work of XM. However, XM Trading Forex we are going to talk about today is nothing to do with the real XM. XM Trading Forex is a clone that uses XMs influence to defraud investors.
Regulation
XM Trading Forex is not regulated by any authority. WikiFX has marked it as “no license”. You need to know that investing in an unregulated broker is extremely dangerous as no one can hold it accountable. WikiFX has given it a fairly low rating of 1.04/10.
Ponzi Scheme
According to the complaints, many investors claimed this broker is a Ponzi Scheme. The victims claimed that the agent of this broker changes his name frequently. An agent called Tang Ming used another name called Xu Youcheng to scam people. Victims claimed that the agent of this broker is a fraudster.
The agent of this broker talks with victims about gold first. Then they use social platforms such as Tiktok to chat with victims. After that, the agent would recommend a so-called expert to teach you about the stock market. But, In order to watch the expert's lessons, victims need to download a platform that this broker offers.
XM Trading Forex established a lot of online group chats and brainwashed the investors; they even used shills to give investors an atmosphere of trust.
XM Trading Forex entices you to buy foreign exchange gold, which is the platform you are now dealing with. It is also their own back office, and the trend is all controlled by them. When you make a profit, you may find that you can't withdraw money or that you can't withdraw money for various reasons. At the end of the day, they run away.
Conclusion
As there are many fake clones in the forex industry, many scammers like to use the names of other well-known brokers, we advise trader to always be vigilant when choosing a trader. Protecting the legitimate rights and interests of forex traders are always the primary concern of WikiFX. We urge you to aovid XM Trading Forex as possible as you can.
WikiFX is actively reaching out to the victims. Please stay tuned for more information.
WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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