XenitFX Review: Xenitfx.com is a Shady Venture

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XenitFX Review
  • Fund Safety
  • Regulation
  • Client Testimonials
0.4

Summary

Expect disaster once you sign up with XenitFX. It is easy for anybody to acquire a registration document. There is a huge difference between being registered and being regulated. What matters is attaining a license from a reputable finical body.

XenitFX is an investment platform that happens to be a scam. You are welcomed to their website with bold claims. The broker market itself as an award-winning entity. They allegedly have won several awards since joining the market.

XenitFX Review, XenitFX Company

In 2013 the venture attained a reward for having the best customer support services. 2014 they were recognized as the best Asia broker. In 2015 the company was awarded for being the best Islamic platform. The other trophy is from 2016 for having the best trading conditions. They also have three other awards from 2017 to 2019 for being the best ECN, top Asian broker, and having the best trading application.

XenitFX is bluffing since it entered the market in 2020. We don’t get the point of them lying, yet the information of their history is accessible to the public. You should not give them any benefit of the doubt. There are multiple legit investment entities.

Xenitfx.com Review

The nasty Ponzi scheme is offering trading bonuses to investors. However, it fails to indicate the requirements that traders need to meet to withdraw funds. Moreover, the venture is only trading Cryptocurrencies despite advertising Forex, indices, and CFDs.

Furthermore, XenitFX also falsely claims to provide an MT4. MT5, and cTrader trading software. It turns out to be another fat lie. The entity will do anything in its power to remain relevant in the market.

Invest with the best cryptocurrency trading companies that are transparent. These companies have a verified trading history. Moreover, you will also sleep peacefully knowing that your funds are secure. The ventures also have feedback from their clients that are reliable.

The Domain Insight

XenitFX made its first digital footprint in May 2020. The company renewed its domain this year. They expect to exit the industry in May 2022. We hope that they will not have scammed more people before that happens.

There is a high possibility that the same people responsible for Ocatafx are managing this broker. Nonetheless are running the platform, the firm has low traffic of 6,732,364. We cannot determine the geographical area of their clients.

XenitFX withdrawal and Deposits

The withdrawal options available for traders include; Cryptocurrency wallets, PayPal, and Wire transfers. We take that these are also the methods available for a deposit. There is a call for alarm since no available methods can help investors to issue a chargeback.

You can consider your money to be lost once XenitFX exit the industry. The least amount to deposit is $100. Unfortunately, we cannot affirm that you won’t charge fees. The venture has chosen not to disclose any further information. Furthermore, this entity does not have a Terms and Conditions policy.

Therefore, without having a written contract that caters for both parties, you can suffer huge losses. The company can do whatever it wants with your data and money. Unfortunately, there is nothing that you can do about it.

XenitFX Trading Conditions and Platform

The entity has a basic web-trader interface for its customers. They have nothing exceptional to be proud of as the features are also unattractive. Several scammers in the market commonly use such trading platforms.

Despite their name, suggesting the venture is trading forex, most of their assets are cryptos. This is a confusing scam. As a matter of fact, there are no forex currency pairs available. They have 4 digital coins available for investors. Other assets that XenitFX is promoting are not available in the user area. The leverage for the coins is 1:2.

Customer Support and Contact Details

The entity features an office address from SVG. No corporate is responsible for XenitFX. The platform is operating on its own accord. Additionally, the firm features Facebook, Instagram, Twitter, and YouTube icon.

We were hoping to find their social media accounts after clicking the links, only for us to be redirected to the home page. What is the need to insinuate they engage with their customer online while it all false? There is also a phone number and an email address.

Nonetheless, given the nature of this entity, we doubt the company will respond to your query. Invest with transparent entities that have nothing to hide from you. You will earn a better income, and your data won’t be shared with third parties.

XenitFX Regulation and Registration Status

The broker does not state its area of operation. Nonetheless, we found information that reveals this is an offshore entity. The company is operating from St Vincent and Grenadine. It is a notorious region favorable for scammers.

The government of the island does not regulate forex trading companies or any other online activities. They issued this warning sometime back. Nevertheless, naïve traders are still falling for schemes based in this place.

Expect disaster once you sign up with XenitFX. It is easy for anybody to acquire a registration document. There is a huge difference between being registered and being regulated. What matters is attaining a license from a reputable finical body.

Of course, the majority of fraudsters cannot attain the measures. The capital that is set for investment schemes is high. The watchdogs want the entity to show that they can withstand the volatile nature of the industry.

Additionally, it is also necessary for the legit entity to report their daily financial orders to the agencies. This helps in ensuring investors trade successfully. The companies cannot misuse your funds. The legit firms segregate customers’ accounts.

XenitFX False Testimonials

XenitFX is not left behind when it comes to creating a perfect impression to the public. There is a section designated for testimonials from their clients. The information insinuates that the entity is the best broker in the market.

Both rookie and expert clients can join their course. We find it ironic that some traders claim there are multiple currency pairs, while we did not find even a single forex asset. Not even the popular EURUSD pair.

XenitFX.com Review, XenitFX Testimonials

Another trader claims that he became a member of XenitFX in 2014. The company did not exist by then. Moreover, the platform does not mention existence using a separate name. The testimonials are therefore false and misleading.

Furthermore, the payment option available does not feature bank cards. It is, therefore, impossible to withdrawal using such methods. You will not withdrawal a dime from this entity. The entity does not include social media links for their purported happy customers. Moreover, after running this images, we found the Ponzi scheme is using stock images. They are mainly targeting investors from the third world.

Final Verdict

XenitFX is a bogus scheme that doesn’t care to feature withdrawal requirements. The company doesn’t intend on releasing your money. They don’t even bother to hide their murkiness. Moreover, the broker does not have a license or legal documents.

Why would you sign up with them when clearly there is nothing for you here? Nobody will come to your aid once this Ponzi scheme decides to close down their business. Once you receive a call from them, report them to the authority. Scammers tend to cold-call potential clients.

In case you want to explore the online investment venture there are multiple legit crypto companies in the industry. These platforms have been tried and tested. Their happy clients endorse that the platforms are worth the trial. Sign up with them today!

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