One of the first things we realize about XetraCoin is a lack of transparency, primarily about ownership and legal details. This is quite surprising for a company presenting itself from the United States.
In any case, once you read this XetraCoin review, you will know exactly what to do next. But also, you will be prepared for future endeavors if you decide to continue with your trading career.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | Xetracoin.com |
| Have Warnings From: | N/A |
| Registered In: | US |
| Operating Since: | 2023 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | N/A |
| Minimum Deposit: | $5.000 |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptos, forex, indices, shares, commodities |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | Withdrawing funds from unregulated brokerages has always been a mission impossible. That’s why we recommend you request immediately a refund because regular withdrawals won’t happen. If you need assistance, feel free to contact us. |
Legal Info: Is XetraCoin Legit Or A Scam?
The first scam sign was already revealed. But what are the others? First, as a US-based company, XetraCoin should be regulated. To be fair, they claim to be but don’t reveal authority. Some of the favorable choices should be the CFTC, SEC, or NFA. Yet none of these databases hold any records of this company being licensed, which will later be logical once you see XetraCoin reviews.
In any case, without regulations, this company can do anything they want. Practically they are anonymous and once they decide to disappear, they will do that. But traders will be left with nothing and without any compensation scheme due to missing regulations. Keep that in mind when choosing your broker.
Who Are XetraCoin’s Victims?
Overall, the company’s target areas are not very common. But we know from experience that they will keep spreading their scamming network. After all, they have been in the business only since 2023.
Nevertheless, if you are coming from the following countries, be extremely careful:
- Greece
- Cyprus
- Netherlands
- Israel
No matter where you are, you definitely have a domestic company that is far more reliable. So, be wise when choosing a broker, and make sure to educate yourself about the trading world. You can start with our RedStarChain review, and if you need refund advice, contact our refund team.
Traders Reviews
Considering the company’s short lifespan, it’s not surprising there are only 6 comments on Trustpilot. However, those are more than enough to expose the company’s shady activities.
It appears that all traders experience the same issues, such as fictive trading platforms, manipulations, non-existent fees, taxes, and, most importantly, withdrawal problems. If that’s your case as well, contact our chargeback experts for consultation before it’s too late.
Leverage, Commissions, Spreads, Fees and Taxes
It’s important to realize that the company doesn’t reveal any investment costs. Allegedly, they offer tight spreads and high leverage. However, none of those details are precisely explained, which is already a red flag for a broker.
In any case, if you know what limitations regulated brokers have, you will be safe. For instance, European brokerages mostly offer leverage of 1:30 while US and Canadian brokers offer 1:50. And to see how high leverage can impact your account, read our Verify Markets review.
Bonuses
As can be seen, XetraCoin account types reveal that all accounts include $0 gift bonuses. But it’s not revealed if the bonuses will be offered at some later stage. In any case, with unregulated brokerages, it’s never a good idea to accept any.
XetraCoin Trading Features
Apparently, the company has been offering multiple platform choices with “so-called” advanced features. Yet, those features are just the basic ones any trusted platform has.
In general, if you check the company’s offer, you won’t see anything advanced about it. But the key is in their ad campaigns, which mainly advertise auto-trading platforms. Whenever you see those, be extremely careful.
Trading Platforms Available
According to the company’s presentation, multiple platforms are offered. One of those advertised is MetaTrader, and the other is its proprietary web-based platform.
Thus, after registration, you realize that MetaTrader is not part of the deal. After all, the company can’t manipulate details on MT, and that’s why they manipulate customers to use their own platform.
Available Trading Assets
If there’s one thing the company has no reason to hide, it is its instrument availability. They briefly mention you can trade assets from all top 5 categories. Yet, without any more details revealed. In any case, you can expect:
- Forex – USD/EUR, AUD/SGD
- Cryptos – BTC, DOT, XRP
- CFDs – gold, Amazon, Tesla, NASDAQ
Account Types
Considering the extremely high XetraCoin minimum deposit requirement, you should seriously rethink your decision to deposit with them. Firstly, their account types don’t reveal any relevant details. Only fictive returns that they have failed to present properly. Most likely, they considered providing fixed returns in percentages and not in specific currency.
The options are:
- Starter – $5.000 – $10.000 deposit / 1-month plan / 15-20% return
- Silver – $10.000 – $50.000 deposit / 1-month plan / 20-25% return
- Gold – $50.000 – $100.000 deposit / 1-month plan / 30-35% return Gold
- Platinum – $100.000 – $1.000.000 deposit / 1-month plan / 50-5% return Gold
Mobile Trading App
Quite smartly, the company presents its platform availability on mobile devices. Yet, they don’t reveal that they didn’t develop the app. Instead, they claim to have an optimized platform for all mobile devices, which is rarely the case with scam brokers.
Demo Account
With their high deposit requirements, a demo account is more than necessary with this company. However, they don’t offer it and that’s another clear sign they are hiding something. Hopefully, you won’t fall for their cheap tricks to deposit money with them.
Education
Another reason not to trust brokerages like XetraCoin is because of the lack of educational programs available. Generally, every result in trading is based on knowledge. Sometimes on luck, of course.
But still, to be consistent, you need adequate education. Which you won’t have with this firm.
XetraCoin Withdrawal
One of the most concerning details about this company is the XetraCoin withdrawal. Firstly, the company is not licensed even though they claim to be. Secondly, they don’t reveal any withdrawal policies. Which wouldn’t even matter without regulations.
Thirdly and lastly, they don’t reveal any fees, processing time, or methods. And there you go, a perfect recipe for a scam.
Customer Support
If you have any issues with the XetraCoin scam broker, you should reach out to their famous support. Allegedly, it’s available 24/7 and operates via e-mail, phone line, and live chat.
However, many traders failed to reach them when seeking withdrawals. Especially for the XetraCoin crypto deposits.
Key Information To Consider About XetraCoin?
In general, there are zero reasons to trust this fake investment firm. But we understand that we sometimes get deluded with fancy ads about our future. It can happen to anyone. Nevertheless, you realize now why unregulated brokers with untrusted platforms can be a problem.
And if you have ever been scammed by those, there are three things to do. Firstly, report them to the local regulators. Secondly, leave a review anywhere you can. Lastly and most importantly, contact us for a free first refund consultation.
FAQ Section
What is XetraCoin?
XetraCoin is a fraudulent and anonymous investment firm presenting itself as a trusted and reliable brokerage based in the US.
Is XetraCoin Regulated?
No. The company claims to be licensed but no regulatory databases hold any records of this company being regulated.
How to Get Money Back From a Scammer?
The easiest, yet not always available, method is chargeback. But very often traders need CipherTrace to recover crypto. For more details, contact our refund specialists.
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