Xprofitz is trying its best to hide the fact that this is a clone website. When you click on their about us page, that’s when Google shows the clone website’s identity. On the tab’s page, you will notice that it reads FX Crypto Option. That’s how we immediately knew X PROFITZ is a fraudulent broker. With their attention to detail, they could not afford to make such a mistake. Continue reading our expose on this transparent XPROFITZ Review.
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A quick review of Xprofitz
Even their about us page has evidence that this is a clone website. The banner claims that 10X Protrade is an award-winning broker. We do learn that all these three websites belong to the same scam group.
Their efforts to try and conceal their true identity have crumbled with poor website design. The website design made a few errors that might not be visible to naïve investors. You must go through an entire website and find out the idea behind it.
The about us page offers no insight into what the broker really wants to do in the market. That’s a pointer that we are dealing with scam artists. All they are after is stealing from unsuspicious investors.
Ensure you read our reviews as we keep investors updated on the latest brokers. We ensure our readers are kept safe from clone websites that try to take advantage of naïve investors.
Another obvious lie is that the broker is partnering with leading financial investment firms. We can see that the broker boasts of having a concrete partnership with Morgan Stanley on their about us page. Other firms on their rooster include CITADEL, J.P Morgan, UBS, and others.
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These are false statements meant to give credibility to the platform. None of these financial institutions know this broker. We are sure they will be surprised to note that they are in partnership with a clone trading website.
Assets and trading instruments
On their homepage, the broker claims to offer four classes of trading instruments. These assets include commodities, forex, indices, and metals. Spread starts from 0.0 pip with a maximum leverage of 1:500.
Another feature that points to this being a scam is the high leverage. Regulators in Australia and Europe have set 1:30 as the maximum leverage for trading. Any broker that does not follow the set rules is added to the blacklist.
Allison Greene is one of the victims who recently fell for this trap. She has tried over the past few weeks to get in touch with the broker. Nothing has gone her way, and she has lost hope. She was contacted by an account manager who conjured her into depositing $3,000.
After depositing, she was told to wait for a week and check her account balance. The balance is $1,000, and she has no way of withdrawing it. Her efforts to contact the account manager are in vain.
Domain credibility (Xprofitz.com)
What is weird about this platform is how recently they went live. It seems that all three sites have been under the same domain. As of posting this review, the website xprofitx.com is 68 days old. On January 26, 2021, the website was created with the hosting history showing 4 changed over the last 6 years.
That clearly indicates that the platform is a short-term website and will shut down soon. Anyone who has made a deposit will likely lose their money.
Features of Xprofitz
Xprofitz is furnishing users with six different account types to have. The six accounts include Starter, Silver, Gold, Diamond, Platinum, and Ultimate. What looks like a feasible plan is nothing but a trap to catch different classes of investors.
The starter pack is the standard account whose minimum deposit is $1,000. The industry has set $250 as the acceptable minimum deposit for those who are new to trading. X Profitz is asking four times the acceptable amount.
There’s a claim that you can create your own fund manager. That’s absurd as the broker will later urge you to use one of their account managers. As we said earlier, these are call agents who earn a commission with every deposit.
The agents will call you and urge you to deposit more funds. They even claim to use special tools such as secret trading robots to forge ahead of the trading world. All these are tactics they employ to ensure you continue depositing with the platform.
Contact and support
Once you click on the chat tab, you will notice that this is a bot. The name of the company is Fxcryptooption.com and not X Profitz. It’s clearly a scam, as these scam artists forgot to delete the name of their previous site.
None of the contact details work especially if you are the one initiating the conversation. We suspect that they are using a virtual phone number for UK traders. The virtual phone number tries to show that the platform resides in the UK.
Deposit and withdrawal
Depositing funds with this platform is easy, and the process takes less than five minutes to complete. The depository options include bank and wire transfers. We do note that the broker doesn’t have any link to their deposit and withdrawal terms.
Withdrawing funds with this platform remains to be seen. None of the members have come out with proof of withdrawing from this platform.
Testimonials on their page
Claims of having over 5k happy clients are false. It’s only a scam artist who will make such absurd statements without backing it up. We could not find any social media posts regarding this platform.
Where and when they managed to get such a huge number is beyond us. With the short amount they have been live, everyone in the UK would by now have heard of them. These are false claims to hype their platform.
Is Xprofitz Licensed or Regulated?
No. Xprofitz is not a legit trading website and should not be taken seriously. You should avoid making any contact with their call agents. We did check to confirm with regulators in Europe regarding their compliance.
The FCA is planning to issue a warning in regards to this broker. Other regulators such as CNMV and the Australian ASIC regulator want to ban the broker completely.
Safety of funds with Xprofitz
There’s no safety of funds with a broker with no license and uses a cloned website. Despite claiming that they store funds in a top-tier bank, these are false claims. We do believe that the broker redirects all deposits to their personal account. This means that there’s no segregation of funds.
Scam or Legit Xprofitz
Xprofitz is a scam that is not going to spare anyone. Once you deposit with them, forget to ever to see your money again. These are scam artists who have already made away with millions from their previous platforms.
With the platform being a clone, there’s no way we would recommend it to our readers. Please stay away from all of their three websites.
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