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The WikiFX Score of this broker is reduced because of too many complaints!

XS

Seychelles|2-5 years|
White label MT4|The server is only located in China.|High potential risk|

https://www.xs9999.com.hk/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
XSTrading-Demo MT4
Server Location China

Contact

xsglobals@gmail.com
https://www.xs9999.com.hk/
Suite 3, Global Village, Jivan's Complex, Mont Fleuri, Mahe, Seychelles
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

More

Company Name

香港鑫圣金业集团有限公司.

Abbreviation

XS

Platform registered country and region

Seychelles

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 3
Previous Detection : 2024-07-12
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 25 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The China Hong Kong CGSE regulation (license number: 081) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

XS · WikiFX Survey

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    XS · Company Summary

    Note: XS official site - https://www.xs9999.com.hk/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

    XS Review Summary in 5 Points
    Founded 2-5 years
    Registered Country/Region Seychelles
    Regulation Suspicious CGSE clone
    Trading Platform MT4
    Customer Support Email, address, QQ

    What is XS?

    XS

    XS purports to be an online trading platform hailing from Seychelles. However, establishing its adherence to regulatory standards and its overall credibility is challenging due to its inaccessible website. The suspicious CGSE clone regulatory status further casts a shadow on its authenticity and legitimacy.

    This article undertakes a thorough examination of XS, considering various facets of its offerings. We strongly advise prospective users to read this article in entirety for an in-depth understanding. The concluding segment includes a succinct summary highlighting the platform's key aspects for easy reference.

    Pros & Cons

    Pros Cons
    • MT4 platform • Suspicious CGSE clone
    • Website inaccessible
    • Lack of transparency
    • Negative feedbacks from their customers

    Pros:

    • MT4 Platform: One significant pro of this platform is that it utilizes an MT4 interface. MT4 is a widely used and popular trading platform known for its user-friendly interface, advanced charting capabilities, technical analysis tools, and automated trading functionalities.

    Cons:

    • Suspicious CGSE Clone: This implies the platform might be mirroring the website of a reputable company site who is regulated by CGSE (Chinese Gold & Silver Exchange), raising concerns about its integrity and authenticity.

    • Website Inaccessible: The fact that the website is not accessible adds to the suspicion and makes it impossible for potential customers to gather detailed information about the broker, making informed decisions difficult.

    • Lack of Transparency: Lack of clarity around vital aspects of the trading conditions like spread, commission, minimum deposit requirement etc., inevitably signals a red flag. A reliable broker should always maintain transparency on these key factors.

    • Negative Customer Feedbacks: 27 negative reports from customers can dent the broker's reputation significantly. It raises concern regarding customer satisfaction and can be a strong indication of poor service quality or other underlying issues.

    Is XS Safe or Scam?

    When considering the safety of a brokerage like XS or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

    • Regulatory sight: Currently, this broker is suspected to be a CGSE (The Chinese Gold & Silver Exchange Society) clone with Type AA License license No. 081, fostering doubts about its legitimacy and trustworthiness. This worry is heightened by the broker's inaccessible website. It's vital to engage in comprehensive research and due diligence when involving oneself with any financial entity, particularly when clear cautionary indicators like these are evident.

    suspicious clone CGSE license
    • User feedback: WikiFX features 27 reports addressing allegations of scams, server malfunctions, fraudulent activities, and withdrawal issues linked to this broker, thereby amplifying the risks tied to their services. It is crucial to conduct comprehensive research and due diligence prior to engaging with any financial platforms.

    • Security measures: Currently, there is no publicly available information regarding the security measures implemented by this broker.

    Ultimately, the decision whether to engage in trading with XS or not is a personal one, necessitating a careful evaluation of the pros and cons before arriving at a conclusion.

    Trading Platform

    MT4

    XS provides its customers with the globally recognized MetaTrader 4 (MT4) platform as the leading channel for trading operations.

    Known for its advanced charting tools, diverse technical analysis resources, and compatibility with automated trading strategies through Expert Advisors, MT4 has gained substantial esteem within the trading community. It's worth noting that MT4's easy-to-use interface facilitates complex trading operations even for novices. However, the platform's efficiency and overall customer experience heavily depend on how the broker implements and maintains it.

    User Exposure on WikiFX

    On WikiFX, there exist 27 reports denoting accusations of scams, system failures, fraudulent practices, and withdrawal difficulties. These worrying indications must be appreciated as major red alerts. It's crucial for traders to meticulously assess all relevant insights. We advise checking our platform for crucial details preceding any trading actions. If you encounter questionable brokers or have been victimized by such unscrupulous measures, kindly submit your experience in our “Exposure” section. This contribution greatly supports our mission, and our team of experts will promptly respond to address the issue as effectively as possible.

    User Exposure on WikiFX

    Customer Service

    XS offers customer service support through email, address and QQ. However, it is noteworthy that more intensive communication options like phone and social media which diversify channels for issue resolution, are not currently available. Potential traders should take this into account if they value immediate and instant responsiveness.

    Email: xsglobals@gmail.com.

    Address: Suite 3, Global Village, Jivan's Complex, Mont Fleuri, Mahe, Seychelles.

    QQ: 4006668236.

    Conclusion

    XS, claiming to be an online trading platform from Seychelles, shows a number of red flags. These include its suspicious CGSE clone status, potentially leading to precarious situations that can breach standard financial practices. The unavailability of its website along with negative customer reviews on WikiFX, infers a lack of professionalism and accountability, adversely affecting user experience.

    Consequently, potential traders contemplating on using XS should exercise caution, understanding the significance of transparency and observance of the regulations in the trading environment. It is strongly advisable to choose platforms that conform to these regulatory standards.

    Frequently Asked Questions (FAQs)

    Q 1: Is XS regulated?
    A 1: No. It has been verified that this broker currently under suspicious CGSE clone status.
    Q 2: Does XS offer the industry leading MT4 & MT5?
    A 2: Yes. XS offer MT4 platform.
    Q 3: Is XS a good broker for beginners?
    A 3: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its unavailable website and negative customer feedbacks.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

    In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

    User Reviews

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    Write a review

    Stanley Lim
    more than one year
    XS uses the convenient MT4 trading platform, I very love it. However, it's official website cannot be accessed, and I don't have other way to obtain relevant information such as fees, so I am very helpless.
    2024-07-02 16:37
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    0
    0
    马传刚
    more than one year
    Exactly like all the other exposures here, XS is in reality a total forex scammer. its website is already shut down, and I'm also one of the victims. My account was frozen by this shameless company, and my money? Of course impossible to withdraw! I have now moved on. Except I'll never forget the experience.
    2023-03-15 16:39
    Reply
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    United States
    ※ The content of this website abides with local laws and regulations.
    You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
    consumer hotline:006531290538
    Official Email:support@wikifx.com;
    Mobile Phone Number:234 706 777 7762;61 449895363
    Telegram:+60 103342306
    Whatsapp:+852-6613 1970;
    License or other information error corrections, please send the information to:qawikifx@gmail.com
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