Xerofolio is a Contract for Difference (CFD) broker officially registered on August 10, 2023. The broker primarily offers a wide range of trading markets through its proprietary trading platform, including forex, commodities, indices, bonds, cryptocurrencies, stocks, futures, etc. Xerofolio does not operate in the United States, Canada, Israel, New Zealand, Iran, and North Korea.
Corporate Registration Information and Regulatory Status:
Public information on the Xerofolio official website reveals that it is registered in Seychelles under the business entity Xerofolio Ltd, which is authorized and regulated by the Seychelles Financial Services Authority (FSA) with license number SD018.
Upon verification, the Seychelles Financial Services Authority (FSA) official website shows that the entity registered under license number SD018 is Raw Trading Ltd, which is the business entity of broker IC Markets registered in Seychelles, with its FSA-approved websites being https://www.icmarkets.sc and https://www.icmarkets.com. Therefore, Xerofolio is identified as a fraudulent website impersonating IC Markets.
Furthermore, this broker's website design plagiarizes from IC Markets, similar to other fraudulent brokers such as Slingbitify, Amazing Live, Robotradx, Eztimatefx Trade, SIG, and World Trade Platform.
Opening an Account:
To open an account with Xerofolio: Visit the broker's official homepage, click on “Open an Account” or “Start Trading” at the top right corner of the webpage to navigate to the account registration page. Complete the form with personal information such as name, email address, phone number, and set a login password, then submit. Once submitted, the account will be successfully registered.
Trading Accounts:
Xerofolio offers three different types of trading accounts: Xerofolio Account, Raw Spread Account, and Standard Account.
Xerofolio Account:
- Trading Commission (per lot): $3.0 (round turn $6.0)
- Spreads from: 0.0 pips
- Minimum initial deposit: $100
- Leverage: Up to 1:1000
- Maximum open orders per account: 2000 lots
- Micro-lot trading (0.01): Supported
- Currency pairs: 61
- Indices CFD trading: Supported
- Stop Out Level: 50%
- One-click trading: Supported
- Islamic Account: Available
- Allowed trading methods: All
- Order distance restriction: None
Raw Spread Account:
- Trading Commission (per lot): $3.5 (round turn $7.0)
- Spreads from: 0.0 pips
- Minimum initial deposit: $1000
- Leverage: Up to 1:1000
- Maximum open orders per account: 200 lots
- Micro-lot trading (0.01): Supported
- Currency pairs: 61
- Indices CFD trading: Supported
- Stop Out Level: 50%
- One-click trading: Supported
- Islamic Account: Available
- Allowed trading methods: All
- Order distance restriction: None
Standard Account:
- Trading Commission (per lot): $0.0
- Spreads from: 0.8 pips
- Minimum initial deposit: $5000
- Leverage: Up to 1:1000
- Maximum open orders per account: 200 lots
- Micro-lot trading (0.01): Supported
- Currency pairs: 61
- Indices CFD trading: Supported
- Stop Out Level: 50%
- One-click trading: Supported
- Islamic Account: Available
- Allowed trading methods: All
- Order distance restriction: None
Trading Platform:
Xerofolios offers its users a proprietary trading platform along with a mobile application.
Deposits and Withdrawals:
Xerofolio supports deposits and withdrawals using credit/debit cards, electronic wallets, and bank transfers.
Summary:
Traderknows reminds investors that CXerofolio is essentially a cloned scam website that imitates the broker IC Markets. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation for their trading activities to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
