xmwebtrader.com is a CFD broker website registered on March 31, 2024, mainly providing financial derivative trading services such as forex, stock CFDs, futures, indices, metals, and energy to retail and institutional clients. This broker does not offer services in jurisdictions where it might violate local laws or regulations.
Company Registration Information and Regulatory Status:
Public information on the xmwebtrader.com website shows that the company's registered address is Suite 404, The Matalon, Coney Drive, Belize City, Belize. Additionally, the broker claims to be authorized and regulated by the National Futures Association (NFA) and the Financial Crimes Enforcement Network (FinCEN) in the United States, with NFA ID: 0559918 and MSB ID: 31000257135391.
Upon verification, the official NFA website shows that the company with NFA ID 0559918 is GOLDMANS GLOBAL, which is registered as a non-member firm and is not authorized or regulated by the NFA. Similarly, the FinCEN website shows that the company with MSB ID 31000257135391 is also GOLDMANS GLOBAL. Additionally, the Belize Companies and Corporate Affairs Registry (BCCAR) and the Financial Services Commission (FSC) of Belize do not list a company entity named XM WebTrader.
Moreover, the name and web design of xmwebtrader.com are copied from the well-known broker XM, intending to mislead investors into believing that they are the same company, thus deceiving them.
Therefore, xmwebtrader.com is essentially a fraudulent broker website with no real company entity or regulatory oversight.
Account Opening Process:
To open an account with xmwebtrader.com: Visit the broker's official website and click "Register" on the homepage or the top right corner of the webpage to go to the account registration page. Enter your email address and set a login password as required, after which the broker will send a verification code to the provided email. Fill in the verification code on the application form and submit it. Once submitted, the account will be successfully registered. After logging in, identity verification is required to deposit funds and start trading.
Trading Account Information:
The xmwebtrader.com website does not disclose information on account types, trading commissions, minimum/maximum trading volume, spreads, leverage, margin call/stop-out levels, contract sizes, maximum open position/order sizes, or minimum price precision related to trading accounts.
Trading Platform:
xmwebtrader.com offers the ST5 trading platform for its users, including both desktop and mobile versions. This platform provides multiple asset management tools, over 1000 trading products, and can display up to 100 charts simultaneously. It supports all types of orders, including market orders, limit orders, stop orders, and trailing stops, and features more than 80 technical indicators and 40 analysis tools.
Deposits and Withdrawals:
xmwebtrader.com does not clearly specify on its website the supported deposit and withdrawal methods, fees, or minimum deposit/withdrawal amounts.
Conclusion:
Traderknows reminds investors that xmwebtrader.com is a suspected fraudulent broker with unclear registration and regulatory information and false advertising. The only way to contact them is through email, making their contact method very limited. Traderknows advises investors to choose brokers with transparent information, strong regulation, and good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
