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XM Defi
Suspected Fraud
Suspected Fraud

XM Defi

🇨🇳
  • CFD
  • Broker
Within 1 year
Website

Current Rating

0.93

Industry Tier

E

Profile

XM Defi is a CFD broker, with its official website domain registered on March 30, 2024. This broker primarily targets retail and institutional clients, offering trading services in financial derivatives such as forex, precious metals, crude oil, indices, and cryptocurrencies. It does not provide services to jurisdictions where it may violate local laws or regulations.

Corporate Registration Information and Regulatory Status

According to information on the XM Defi website, the company was established in 2009 and is headquartered in London, UK. Its subsidiary is regulated by the United States Financial Crimes Enforcement Network (FinCEN) and is registered with the National Futures Association (NFA), subject to strict audits and regulations.

Moreover, XM Defi's website does not provide the company's full name, registration number, or corresponding regulatory license number, nor does it offer detailed service terms and legal documents.

XM Defi

XM Defi

XM Defi

Upon investigation, no registration information for XM Defi was found on the official websites of FinCEN and the NFA. Moreover, there are concerns that the broker's name and logo may infringe upon another broker, XM, potentially misleading investors intentionally.

Additionally, the design of XM Defi's webpage uses the same template as some brokers accused of fraud, such as dbgmarkentskinlted.com, FCAAGEA Financial Limited, Pocketx Ltd, ABASTR, Bakkt Market, and GS Goldmansachs.

Therefore, XM Defi appears to be a fraudulent broker site with no real physical company and no regulatory oversight.

XM Defi

XM Defi

Trading Instruments

XM Defi offers a variety of financial derivatives for trading, including forex, precious metals, crude oil, indices, and cryptocurrencies.

  • Forex: Offers trading in dozens of major currency pairs, including EUR/USD, USD/CAD, GBP/USD, USD/JPY, etc.
  • Precious Metals: Supports spot trading of several precious metals, such as gold (XAUUSD) and silver (XAGUSD).
  • Crude Oil: Provides trading services for US crude oil (UsOIL).
  • Indices: Tradeable indices include Nikkei 225 (N225), DAX (GER30), and the S&P 500 (US500).
  • Cryptocurrencies: Supports trading in major digital currency pairs, including Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD), and others.

Account Opening Process

The steps to open an account with XM Defi are as follows:

  1. Visit the official website and click the "Register" button to go to the registration page.
  2. Enter your email address and set a password, then receive a verification code via email.
  3. Enter the verification code and submit the application form. Once the account is successfully registered, complete KYC verification to make deposits and start trading.
XM Defi

Trading Accounts

The XM Defi website only provides basic information about spreads, trading leverage, and contract sizes. However, detailed information on account types, trading commissions, minimum/maximum trade sizes, maximum open positions/orders, margin/stop-out levels, and minimum price precision is not disclosed.

  • Base Currency: USD
  • Spreads: Floating spreads, starting from a minimum of 1 pip
  • Trading Leverage: 1:100 - 1:500
  • Margin Level/Stop-Out Level: 100%/50%
  • Contract Size: 1 lot = 100,000 currency units

Trading Platform

XM Defi claims to provide a proprietary trading platform called Defi, supporting both PC and mobile devices. However, when users click the PC download link on the broker's website, the page redirects to the web-based trading page, without offering an actual PC installation program.

Additionally, clicking on the mobile download link leads users to the App Store download for an app named Vlockedxa, while the Google Play download is for an app called EVJORERJG. Both applications are used by several known fraudulent brokers, raising doubts about the credibility of the XM Defi platform.

XM Defi

Deposits and Withdrawals

XM Defi does not clearly disclose its supported deposit and withdrawal methods, associated fees, or minimum deposit/withdrawal amounts on its official website.

Conclusion

Traderknows reminds investors that XM Defi is a suspicious broker website lacking a company entity and regulatory oversight. The contact information provided by the website is also very limited, with only an email available for communication. Investors are advised to choose brokers with transparent information, strict regulation, and a good reputation to avoid unnecessary financial losses.

Currently, this broker is labeled as "Suspected Fraud" on Traderknows.

User Reviews

0.93

Rated by 0 people

All Rating

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FAQ About XM Defi

01

What is XM Defi's official website?

A: XM Defi's official website is https://www.aaaxmfx.com

02

Is XM Defi a legitimate company, or is it a scam?

A: XM Defi is currently marked as Suspected Fraud on TraderKnows.

03

What is XM Defi?

A: XM Defi is a CFD, Broker company.

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