XCY Global Review: Avoid Xcyltd.com it’s Unprofitable!

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XCY Global Review
  • Fund Safety
  • Customer Support
0.5

Summary

XCY Global claims it is a legal entity that is licensed in the United States and the United Kingdom. The broker allegedly has offices in London. All the above information is misleading and false.

XCY Global is trading precious metals, Bitcoin, forex, stocks, CFDs, and commodities. Joining the company gives you access to top liquidity providers. This is a global entity accepting investors without restrictions. 

XCY Global Review, XCY Global Company

Unfortunately, they violate the rules of multiple jurisdictions since they are operating without a license.  They brag about being a globally renowned enterprise. Their services are in over 100 countries with multilingual customer support. 

Xcyltd.com Review 

XCY Global is allegedly working with professionals. Unfortunately, the company has failed to credit the team. Nobody knows the identity of the educational background of the financial analyst, account manager, or founder.

The company insists on its focus on customer experience. They have provided a fake office address. It is also impossible to contact customer support once they have exited the industry. 

XCY Global claims it operates in full transparency and fairness. They assure clients of no hidden terms. The pricing and promotion are fair to all clients. The problem is you cannot take the word of an offshore scheme as most of them exit the market prematurely.

Invest with the best cryptocurrency companies that operate ethically. You will earn passive income without exposing yourself to scammers. 

XCY Global Trading Conditions and Accounts 

XCY Global claims it has the best trading conditions in the industry. They promise the spread of zero pips. They do not mention anything about the commission. Even the leading investment platforms do not offer such spreads. Therefore, it should raise questions about how the broker intends to make money.

Xcyltd.com Review, Xcyltd.com Features

They promise a web trader interface. The trading platform only has basic features. Investors cannot trade automatically. Additionally, expert traders used to award-winning trading software like the MetaTrader won’t waste their time and resources with such a broker.

XCY Global leverage ranges from 1:100 to 1:500. The limit is hazardous as it can either lead to high profit or losses but with the equivalent magnitude. The USA approves leverage of 1:50 and the UK at 1:30. 

It proves the entity is operating illegally in both countries. Financial watchdog regulates the market to ensure a conducive trading environment.

Withdrawal and Deposits 

XCY Global does not disclose the minimum capital requirement or the acceptable payment method. It is a big red flag for a broker to leave out such critical information. The withdrawal requirements are also not discussed.

There are high chances of the company inflicting hidden charges on customers. They may also refuse to process withdrawal requests. You can never be certain with an offshore platform.

Regulation Status of XCY Global 

XCY Global claims it is a legal entity that is licensed in the United States and the United Kingdom. The broker allegedly has offices in London. All the above information is misleading and false.

The United States has strict rules for investment companies. A broker needs $20 million to acquire a license. On the other hand, in the United Kingdom, a company cannot operate without meeting a capital requirement of 730k EUR. 

XCY Global falsely claims it has a license from NFA yet it is not in their database. Investors won’t enjoy negative account balance protection. They may lose more funds than what they initially deposited. 

The platform does not report daily transactional history to any financial body. They also do not participate in compensation schemes. In the event of bankruptcy, investors will be left counting losses.

Final Verdict

XCY Global is a dark broker exposed by a reputable financial body FCA. The entity has only been in the market for a short duration. 

The domain will expire within a year and they won’t be coming back. You need a reliable and genuine crypto company to trade in confidence. 

 

 

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