Think of trading with XFL Cash FX? Why Xflcash.com is not a genuine broker! Read detailed XFL Cash review to know all about this platform.
This content assures to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
XFL Cash FX
XFL Cash FX otherwise known as Xflcash.com is an offshore brokerage company with a lot of promises for forex traders. The company openly presented an office address in Luzern, Switzerland.
Again, the broker offers three different account tariff, namely —
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
XFL Cash Minimum Deposit:
XFL Cash deposit is indicated as $10,000 based on the account type. In contrast, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, XFL Cash trading leaves us with no information on its acceptable options. We discovered the broker only accepts crypto transactions via Bitcoin or Tether
Just so you are aware, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
XFL Cash withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
XFL Cash FX Platform:
XFL Cash platform offers a simple trading platform called TradingView. However, that cannot be compared to the advanced trading platforms of MT4/MT5. Many scammers have trading software to fool their victims that their money is being invested.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
As for XFL Cash leverage, it can get up to 1:100. Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Things You Should about This Xflcash.com Broker
First of, Xflcash.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.
On a quick check, the company claims to be globally regulated by popular financial authorities like FCA (UK), CySEC (Cyprus), DFSA (Dubai) and many more. Regrettably, the broker doesn’t mention anything about being regulated by the local watchdog of Switzerland – FINMA, which is mandatory for any broker based in this country. Needless to say, we checked the registers of FINMA but XFL Cash isn’t authorized by them.
Of course we searched the registers of the rest of the above mentioned institutions but there was no data about XFL Cash as well.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
XFL Cash Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
XFL Cash FX located at Xflcash.com claims to appear like a trustworthy trading broker, however, that cannot be ascertained. By all appearances, we would suggest traders steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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Last Updated on February 14, 2023 by Danny