Xpoken broker scam blocking user accounts
The broker XPoken, operating in the UK, is a scammer with an unclean reputation.
If we go to the official XPoken website - xpoken.com then we find out that our company provides intermediary services for trading on the financial Forex market in the UK. In addition, XPoken provides services for financial actions.
Our specialists analyzed the XPoken website, got acquainted with the conditions of actions, made a trip to get at least demo access to services, analyzed the existence of official documents, the region of the company's residence.
With the help of this information, we will find out: is XPoken a fraud or not?
Additionally, we will explain to you how not to get caught in the network of deceivers, about their ways of working. We will provide all the necessary information to keep your money safe.
XPoken company is located offshore
The first sign indicating that XPoken is a scam is the country of registration. Officially, the organization is registered in the Republic of the Marshall Islands, which is already doubtful, since XPoken operates in the UK. Offshore countries attract the attention of fraudsters due to the lack of laws and executive power.
In addition, this country does not have the full powers to trade on the Forex market.
Also, when we tried to find the physical or legal address, data on the owners and directors of XPoken, we could not find anything.
This hints at the fact that XPoken is a criminal Internet broker, working with which can result in serious monetary losses.
No information found about the owners xpoken.com
Having studied the website, our experts have not been able to find reliable data about the directors of the company XPoken. No addresses, phone numbers, or other means of communication.
Most likely, this means that the owners are trying to hide information about themselves in order to avoid being held accountable for their crimes. And even if it is possible to contact one of the employees of XPoken, then everything will end with this, and the directors of the fraudulent company will remain at large.
At XPoken, the website is XPoken, valid for less than thirty days
The XPoken website tells about a lot of experience in the Forex financial market.
The most common way to study a site is to get information about its domain. As a rule, they record the age of the domain name, the contact information of its owner.
In a particular case, the XPoken domain name has existed for less than one month, and all information about the legal entity that owns it is hidden. Another evidence that the owners of XPoken are trying to preserve incognito.
This desire can be accepted, but not when it comes to a financial company acting as an intermediary between the user and the Forex market.
At the same time, XPoken assure customers that they have been effectively operating in the Forex market for many years.
U xpoken.com there is no test period
It is a common practice for online brokers to give traders a demo version of programs so that they get acquainted with the interface, try their skills in playing Forex with virtual currency.
Unfortunately, on the website xpoken.com , we did not find any mention of the test period, the opportunity to test the rograms.
Probably the management of the organization xpoken.com Most likely, he does not plan to provide traders with demo access to his software, as some of them may suspect fraud.
The XPoken broker works with a negative balance
Legal companies that operate in the Forex market do not use a negative account in their work. According to the legislation, the broker's user is not able to spend more now on his account. In those situations when the account still goes into negative value, the loan will have to be repaid not by the trader, but by the organization that offered its services.
In accordance with this, registered brokers do not use a negative balance in their activities.
However, xpoken.com gives its clients Forex operations with a negative account, that is, in debt.
Why is this necessary?
To drive a trader into a loan and start demanding to repay the debt. This is one of the most common methods of fraud used by bandits.
If this has already happened, you need to remember that fraudsters have no way to get finances in accordance with the laws of the UK. Absolutely all methods of pressure on traders are considered criminal. The greatest that criminals are capable of is to call, send letters with demands.
With xpoken.com it is impossible to cooperate, because attempts to negotiate will turn into new expenses.
xpoken.com they operate with a credit ratio of 1 to four hundred and more
At this point, it is obvious that XPoken are scammers. Nevertheless, let's pay attention to one nuance, namely the existence of an excessively large credit ratio.
A credit lever is the ratio of customer funds and online brokers when performing a trading operation. It allows you to close large trade transactions to users who do not have sufficient amounts freely available.
In order to protect Forex users, laws in civilized regions provide for the use of a credit ratio with a maximum ratio of one to 30, in exceptional cases 50.
At the same time, XPoken uses a credit ratio of one to four hundred to earn money on the financial Forex market.
A similar ratio is legalized in Switzerland, as companies registered in this state enjoy great confidence. But XPoken is not registered in this country.
In fact, XPoken has no right to work on Forex with such a credit ratio, due to the high risk for users. So, this is used solely to force the client not only to give as much finance as possible, but also to drag in loans.
Local divisions of XPoken
It is considered important for every company to have local offices in developed regions, even if the activity takes place exclusively in the UK. So XPoken tells us that in addition to many awards, there are local representative offices in Britain, Australia and other civilized countries, and also about a lot of experienced workers.
It is quite simple to check the existence of these branches. Since there are specialized organizations that monitor the activities of online brokers. In England it is FCA, and in Australia it is ASIC.
That is, a law-abiding company is obliged to have supporting documents from data or other structures that will confirm their right to provide services for trading operations on the Forex market, regulate the level of responsibility.
And yet, after analyzing the industry websites, we did not find them. Which once again reinforces our fears.
For registration on xpoken.com need to transfer personal data
As we mentioned earlier, XPoken does not have a demo period and because of this, in order to gain access, it is necessary to immediately transfer the minimum payment to the XPoken bandits. In addition, access to your personal account xpoken.com, is only real if the client's verification is successfully completed.
This means that XPoken requires users to transmit such information as:
- Information about an individual (passport, etc.);
- Data on permanent residence (scans of utility payments);
- Information about the place of work, qualifications, experience.
In addition, at the first payment, scammers can get access to the card data.
Together, this information can allow fraudsters to spend a loan on a trusting user, or to implement other illegal frauds.
Since for registration on the official website xpoken.com , you need to send your confidential data, our employees have not been able to access the XPoken personal account and applications for trading operations on the Forex financial market.
Reviews about XPoken
An important point of exposing XPoken is the analysis of customer reviews.
A thorough study of the search results in search engines allowed us to obtain the following data:
- Most of the mentions of XPoken on the network are fake. These are template positive reviews of the paid type;
- All real mentions of XPoken are negative. We could not detect mentions and comments from former clients xpoken.com, which report good earnings, productive work.
- Negative mentions are associated with fraudulent actions, theft of funds, creation of a loan.
Therefore, real reviews about XPoken indicate that this Internet broker is a fraudster.
XPoken contact details and papers
After analyzing the information on xpoken.com , we found a lot of dubious digital official papers that can be easily done using a graphic editor. They are not confirmed by official organizations, which means they cannot be trusted.
If the Internet broker is not affiliated with regulatory organizations, then users simply have nowhere to turn for help.
On the "Contacts" page, our experts saw a phone number. It turned out that it had already been used by an illegal Internet broker. There are also many reviews on the web about fraudulent activities related to the phone number indicated on xpoken.com .
Withdrawal of money from xpoken.com
Are you going to make money with the help of an online Forex broker? Make sure that investments can be taken away from him.
After analyzing the client agreement on the XPoken website, our experts did not find clear information about the withdrawal methods. Our experts also found a description of penalties for prolonged inactivity of the account, but there was no information about the amount. Since the bandits do not conduct activities in the legal field, it is impossible to protest these fines.
Because of this, even if a trader has completed cooperation with XPoken, they can call and write messages demanding to pay a fine.
How does XPoken work?
The method of searching for users, which uses XPoken, also raises concerns.
Fake profiles in social networks are used for promotion, in which fake people spread information about how they instantly managed to make a profit by working on Forex through XPoken. Fakes put on display expensive cars and houses, trips to resorts and other signs of a well-off life.
Non-existent people guarantee instant profit growth, for which you do not need to study or make a lot of effort.
If a potential trader gets in touch with criminals, XPoken employees talk about the reality of rapid earnings, and also about some unique features of their programs that will make it possible to immediately withdraw a lot of earnings.
After that, various tricks are used, which make it possible to get maximum money from the user. For example, a fake profit may be drawn to the user to motivate them to invest even more money.
When the work on the Forex market will be unprofitable, the personal manager will recommend investing more to cover the losses.
XPoken managers, act on scripts that have been developed by experienced psychologists. They study information about the user in order to influence weaknesses, pull out more contributions.
One way or another, all this will come to one of the options:
- If you want to withdraw finances before you find yourself in the red, you will be charged, banned from using the account, and will do everything to force you to pay more;
- If you allow scammers to drive the balance into debt, threats will fall, bandits will demand to repay the fake debt.
Another way to get income for XPoken may be to transfer your confidential information to third-party organizations. We assume that, as a result, full information about you can be purchased for a small sum of money on some anonymous telegram channel on the darknet.
For sure, as a result of this, all kinds of scammers, sales managers, etc. will start spamming you more often. In addition, you can wait for letters from XPoken accomplices who will offer to "receive" lost investments, of course for a reward.
Since XPoken does not operate in a regulated field and protects incognito, XPoken will not be able to be forced to respond under the law in the UK. The leaders of the fraudulent company are carefully hidden and, at best, police officers will be able to arrest one of the "administrators".
Should I trust XPoken?
If you are going to transfer money to scammers, then it is better to spend it on a good deed.
Let's briefly state the facts that say that XPoken are bandits:
- There is no official registration;
- No demo period;
- Lack of data on the owners of the company;
- The phone number is noticed in fraudulent frauds;
- Negative balance;
- Credit ratio of more than one to fifty;
- Negative reviews;
- False data on the website.
The full review of XPoken is finished. It is clear that XPoken are criminals.
You can check out the full list of brokers to bypass.