xtbcryptotrading is a forex broker that was officially registered on August 1, 2022, and provides financial trading services such as forex, metals, indices, futures, contracts for difference (CFDs), energy, stocks, bonds, cryptocurrencies, and commodities to investors. The broker operates globally.
Corporate Registration Information and Regulatory Status:
According to the broker's official website, xtbcryptotrading holds a license issued by the Cyprus Securities and Exchange Commission with license number 105/12. Additionally, the broker is regulated by the International Financial Services Commission of Belize with license numbers IFSC/60/385/TC and IFSC/60/315/AEM. On its license and regulatory page, the entity registered with the Cyprus Securities and Exchange Commission is xtbcryptotrading Limited, holding license number 124/10, and xtbcryptotrading Limited is also licensed by IFSC with license number IFSC/60/354/TS/18. The broker's registered entity in the UK is xtbcryptotrading UK Ltd, regulated by the Financial Conduct Authority (FCA) with license number 705428. xtbcryptotrading Pty Ltd is the registered entity in Australia, holding a financial services license issued by ASIC with license number 443670.
On the "Contact Us" page, the broker claims that its parent company is Exinity Limited, located in Mauritius. However, on the "Terms and Conditions" page, the broker states that its website is operated by Safe Side Trading LTD, registered in Saint Vincent and the Grenadines, and is the owner of the xtbcryptotrading trading platform.
Upon verification, it has been found that the content on the xtbcryptotrading official website is suspected of plagiarism and alteration. The information provided corresponds to registration and regulatory details of various different brokers, and no broker named "xtbcryptotrading" is found on any of the mentioned regulatory platforms. Furthermore, the content on the xtbcryptotrading website closely resembles that of several other brokers, including BitPrimeOption, Cryptoresol, CrispFinances, cryptorangefxt, Elitesurefinace, Trust Income, mexcinvestment, CRYPTO BINARY TRADE, IBES TRADING FX, PRIMAL-FX TRADING, Carlcent Metal Investment, BITFX INVESTMENT PLATFORM, PRIZZYBIZ FOREX COMPANY, SMART MIND ASSET, MKUPG ASSETS, etc.
Account Opening:
To open an account with xtbcryptotrading, users need to visit the broker's official website, click on "Create Account" at the top left corner of the webpage, fill out the account registration form, and submit it. The broker will then send a verification code to the user's provided email address. After entering the code, users can proceed to log in to their accounts and start trading.
Account Types:
xtbcryptotrading offers four different types of real trading accounts: Basic Account, Classic Account, Standard Account, and Premium Account.
- Basic Account: Minimum deposit of $350, spread of 1.9, maximum trading leverage of 1:500, allows hedging, disallows scalping, provides negative balance protection and swap-free services, stop-out level set at 50%, minimum trade volume of 0.1 lots, offers daily market reviews but does not provide daily signals, video tutorials, personal account managers, financial plans, or risk management plans.
- Classic Account: Minimum deposit of $1000, spread of 1.5, maximum trading leverage of 1:500, allows hedging and scalping, provides negative balance protection and swap-free services, stop-out level set at 50%, minimum trade volume of 0.1 lots, offers daily market reviews but does not provide daily signals, video tutorials, personal account managers, financial plans, or risk management plans.
- Standard Account: Minimum deposit of $2500, spread of 1.2, maximum trading leverage of 1:500, allows hedging and scalping, provides negative balance protection and swap-free services, stop-out level set at 50%, minimum trade volume of 0.1 lots, offers daily market reviews, daily signals, and personal account managers, but does not provide video tutorials, financial plans, or risk management plans.
- Premium Account: Minimum deposit of $5000, spread of 0.6, maximum trading leverage of 1:500, allows hedging, disallows scalping, provides negative balance protection and swap-free services, stop-out level set at 50%, minimum trade volume of 0.1 lots, offers daily market reviews, daily signals, personal account managers, video tutorials, financial plans, and risk management plans.
Trading Platform:
xtbcryptotrading provides users with its proprietary trading platform, xtbcryptotrading Web Trader.
Deposits and Withdrawals:
xtbcryptotrading supports users in making deposits and withdrawals through methods such as bank transfers, debit and credit cards, online cards, and electronic wallets.
Summary:
Traderknows warns investors that xtbcryptotrading, along with several other brokers including BitPrimeOption, Cryptoresol, CrispFinances, cryptorangefxt, Elitesurefinace, Trust Income, mexcinvestment, CRYPTO BINARY TRADE, IBES TRADING FX, PRIMAL-FX TRADING, Carlcent Metal Investment, BITFX INVESTMENT PLATFORM, PRIZZYBIZ FOREX COMPANY, SMART MIND ASSET, MKUPG ASSETS, is suspected of being a fraudulent platform that plagiarizes registration and regulatory information from various legitimate brokers. It is advisable to choose transparent, reputable, and well-regulated trading platforms to avoid unnecessary financial losses. Currently, this broker is marked as "suspected fraud" on Traderknows.
