Xcgin Review: Xcgin.com a Fallen Ponzi Scheme

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Xcgin Review
  • Fund Safety
  • Customer Support
0.3

Summary

Unfortunately, Xcgin lacks proof of investment. We do not find endorsements from their customers. The entity also has not provided audited trading performance. We do not find any reason to choose the entity. They claim to be trading various assets that are volatile such as stocks, cryptocurrency, commodities, indices, and forex.

Xcgin works independently without revealing the ownership information. There is no data that shows professionals are involved. Additionally, The entity does not partner with reputable financial institutions to segregate customers’ accounts. 

There is also no evidence proving the platform has sufficient funds to successfully run its operation. The only security measures they have taken into account is acquiring an SSL and DDoS certificate. However, this does not guarantee data protection. 

Xcgin.com Review 

You will be dealing with anonymous individuals. They can choose to sell your information to third parties. To avoid all these uncertainty trade with reputable ventures.

Genuine crypto brokers are operating in full transparency. They safeguard clients’ funds. These entities provide audited trading results. You can also view client reviews on third-party websites. 

Xcgin Trading Conditions and Accounts 

Xcgin, like all other offshore companies, provides a web-based trading platform. The interface has limited features. Therefore, you will not find professional traders wasting their time with basic software. 

One of the best software in the industry is the MetaTrader. The platform allows customers to execute orders automatically, keep track of orders using VPS, and create custom scripts. However, investors should be cautious as the availability of a trading tool does not guarantee the genuineness of a platform.

Unfortunately, Xcgin lacks proof of investment. We do not find endorsements from their customers. The entity also has not provided audited trading performance. We do not find any reason to choose the entity. They claim to be trading various assets that are volatile such as stocks, cryptocurrency, commodities, indices, and forex.

The platform advertises a spread of 0.2 pips on major currency pairs. They do not speak anything about the commission or any other requirements. Their leverage is that of 1:200. The cap is against what most financial bodies approve.

Withdrawal and Deposits 

Xcgin accepts a minimum capital requirement of $250. Investors can fund their accounts via credit card or cryptocurrency. We have seen most shady entities attract customers using false information. Do not be surprised when you realize that the entity only uses digital currency payment.

The method is suitable for those running untrustworthy schemes. It limits them from issuing chargebacks. Also, victims cannot identify the con artist because they remain anonymous. The platform does not feature a terms and conditions policy.

Therefore we are unaware of the withdrawal terms. Offshore entities deliberating leave out the information to trap investors’ funds. Look for customer reviews to know what you are standing up for. Also, invest with brokers that have availed audited trading performance.

Xcgin Regulation Status 

Xcgin is an unregulated and dangerous platform. They claim to be operating in the Netherlands. The country falls under the European Union which is governed by the European Security and Market Authority (ESMA). Sadly, the broker is not in their database.

Luckily, BaFin which is the financial body of Germany has flagged the company for illegally offering financial services. Dealing with a blacklisted entity is unwise and uncalled for. The platform requires investors to agree to their terms in conditions when opening accounts. 

This is a blind move as you will not know what you agree to abide by. For all you know, you might be forfeiting your money to the con artists. Ensure you stick to financial companies that are licensed for fund safety and data protection.

Final Verdict

Xcgin is unregulated and provides false information to win over clients. The entity is already flagged by a reputable financial body. Also, the venture lacks legal documentation and has risky trading conditions. 

We cannot find any positive reason to engage with the exposed fraudsters. You can trade with reputable and top-rated crypto companies to avoid unforeseen outcomes. 

 

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