Xinrox – Will It Make You Rich or Take Your Money?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Xinrox - DO NOT TRADE WITH THIS PROVIDER
2.3/10
$100
Minimum Depositupdated 2021
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
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Website URL: https://xinrox.com
Founded: 2020
Regulations: N/A
Languages: English
Deposit Methods: Wire Transfer
Minimum Deposit: N/A
Free Demo Account: N/A
Number of Assets: N/A
Types of Assets: Forex
Interday Markets Ltd is a world-class professional broker with a solid track record. Its success may be attributed to its immaculate reputation as well as its distinct technology and inventive approach to Forex trading. It offers a comprehensive variety of Internet-trading services in the worldwide currency market to a diverse set of clientele.
All of its traders have access to XINROX TRADER, one of the most powerful cross-trading platforms available, which allows them to trade several assets with ease and profit in real time. The major advantage of XINROX TRADER is its adaptability, since the terminal may be used on a PC, a web browser, an iOS device, or an Android device.
Trading Accounts and Conditions
There is virtually no way to check the types of accounts on the Xinrox website.
Xinrox – Advantages
Xinrox has nothing to offer in terms of advantages, even the entire website is made sloppily and some links have errors. Stay away from this online broker if you value your money.
Xinrox – Disadvantages
No Safety of Funds
Xinrox is unregulated, as it is based in the offshore fraud haven of St. Vincent and the Grenadines, a fact it readily admits. The issue with St. Vincent is that there is no market regulation, which means that fraudsters are free to go in and operate whatever scams they want with no pushback. There’s also the issue of brokers who aren’t operating a scam but lack the necessary liquidity to function on the FX markets, going out of business in a matter of weeks and taking their clients’ money with them.
In contrast, in a tighter jurisdiction like the United Kingdom, brokers are obliged to disclose open and closed trades on a daily basis, as well as maintain a liquid money balance of above 730 000 euro at all times. There are several more advantages to using a UK broker rather than a firm like Xinrox.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
Broken Trading Platform
Xinrox gives you access to a Metatrader 5 distribution, which is known for its strong automated trading tools. Of course, there are a number of brokers that have the software but aren’t licensed to use it. It also had a web-based trading platform, which was, unfortunately, severely damaged.
The spreads for key FX pairs such the EURUSD are under the typically allowed 1 pip difference, however we would not suggest trading with Xinrox. For one thing, we don’t know the broker’s leverage because it isn’t mentioned anywhere on its website – but it’s likely that Xinrox provides high levels of leverage to retail clients despite the fact that they are incompatible with the client class – a classic unscrupulous broker recruiting strategy.
Withdrawal and Deposit Methods Aren’t Clear
Wire transfers are the sole method of payment accepted by Xinrox, and they are not subject to chargebacks. This is terrible, because we don’t know how convoluted Xinrox’s withdrawal procedure is, and a chargeback may be your only option for getting your money back. Any effort to view the broker’s legal paperwork results in a 404 Page Not Found Error Message, therefore we have no idea what the policy is.
This is quite suspicious and unethical, and we can only come to one conclusion regarding Xinrox: the broker is a fraudster.
Make Absolutely No Money
We’re willing to wager that you won’t be able to make a single dime on an unregulated website like Xinrox since you’ll almost certainly be defrauded. The fact that Xinrox suggests that by joining their platform, you would “start earning with the aid of specialists who are doing all necessary for your financial success” is enough to establish that Xinrox is a fraud.
Keep in mind that the trade of CFDs and high leverage forex pairs, such as those offered by Xinrox, has a significant level of risk, and any broker that tries to persuade you that by joining its platform, you will start earning right away and experience financial independence is clearly attempting to defraud you.
Not to mention that relying on the aid of “Xinrox specialists” for the success of your trades is incorrect by definition, because Xinrox, like almost any broker, acts as a counterparty in all of your deals, which means they profit whenever you lose. So, if you hire “Xinrox experts” to assist you with your trades, they will have every motive to deceive you and cause you to lose everything down to the last penny for their own gain. This is a classic conflict of interest scenario.
Finally, when we sought to view Xinrox’s Terms and Conditions, we discovered that the document was simply absent, which is another strong sign that we are dealing with a fraud. Remember that even if you never had the chance to read the Terms, you will be asked to agree to them when you sign up for a trading account.
Conclusion
Xinrox describes itself as a profitable, professional, world-class broker with an excellent reputation and a unique technological and inventive approach to trading, supporting XINROX TRADER, one of the most advanced cross-trading platforms available. Xinrox also guarantees its consumers that as soon as they join the platform, they will be able to enjoy financial independence and begin earning with the help of Xinrox specialists, who will provide speed, security, and unmatched trading ease.
This would sound like the perfect opportunity to learn about the markets while making some additional income, if it weren’t for the fact that Xinrox is situated overseas, has a legitimate forex license, and generally looks like a fraud. If you’re still thinking about taking them up on their offer, read this review again.
Xinrox
Pros
- None
Cons
- No Safety of Funds
- Broken Trading Platform
- Withdrawal and Deposit Methods Aren’t Clear
- Make Absolutely No Money
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.