Xtrades Review: Scammers Think Volatile Asset Trading Is a Game

The Xtrades signals are marketed as “the future of trader collaboration”. The website itself claims to be a selfless project to bring together traders and investors and help everyone earn and succeed on the Forex market. 

This valuable, money-making information sold by the site owners is promised to help every beginner and professional reach their investment goals. 

What portion of these statements is true and what is not entirely genuine is what this Xtrades review investigates.

Company Ownership

The masterminds behind the site and the whole Xtrades scheme do not reveal their identities. It seems as if by just publishing a disclaimer about not providing financial services, the unknown leadership gave itself the right to sell their products anonymously.

While these kinds of firms do not need financial regulation by law, traders would still feel far safer knowing who their money goes to. The fact that not even the name of the alleged conglomerate is known, let alone the exact location besides the US, makes this website far less trustworthy. 

The only name ever mentioned is Kevin, who is supposed to be the person responsible for developing the idea about providing market insights and sharing the trading knowledge with less experienced Forex traders. 

You can imagine how dangerous these incognito sites are when even some seemingly transparent and reputable trading portals end up being a sham. ForexCT is one example of that.

Disturbing Facts About User Reviews

No matter where you look on the ‘net, you’ll find plenty of different social links for this company,  including Facebook, Instagram, X, LinkedIn, TikTok and Medium. It seems that the fraudsters didn’t joke when they said they offer “gamified” experience, as they can be found on gaming streaming services like Discord and Twitch as well.

Social networks aren’t a reliable gauge of company performance, however. Knowing this, the fraudsters have tried to up the ante and make a large number of fraudulent Xtrades reviews wherever they could fit them. Some of these are posted on their own website, while others can be found on various ratings platforms.

It didn’t take long for the TrustPilot moderators to find out about the deception, who took down a large number of these fakes. The situation on ProductHunt remains much the same, but the moderators are yet to discover the manipulation, it seems. Reputable companies like Prospero Markets would never resort to these practices.

“Elite” Products

The idea of connecting less experienced traders and Forex veterans consisted of building a platform that would provide the chance for professionals to gain recognition. At the same time, they get to share their insights with those who need it the most. The Xtrades scam actually claims to equip less informed traders with priceless knowledge, information and tools. 

The price of this precious guidance is supposed to be far lower than the hundreds of dollars worth monthly subscriptions sold by faux Forex gurus. Is it really so, we wonder? Take a look at the most advertised features and their prices so you can deduce that for yourself.

ThinkorSwim Scripts

This single category and name are meant to encompass a wide range of proprietary indicators and scanners. At first claimed to be free, each feature quickly reveals it is only available to Elite Gold Mombers without paying. That is, only those with a lifetime subscription can buy these. Here’s some of the most popular of the tools and their prices:  

• El Intraday Momentum – $800 – several scripts used for catching perfect intraday entries and exits
• Ichimoku Label – $300 – indicator for the current Ichimoku reading that sends alerts on switch
• On Your Mark – $300 – indicator for a three step confirmation of a reversal

Trade-Ideas Scanner Settings

The name of this group of tools is self explanatory; their validity is questionable. In order to activate any of these features, traders have to buy the Active Trade Ideas subscription plan first. If you want to own all of them, you have to cough up $799, otherwise here’s some of the more popular options:

• Elite Intraday Scanner – $399
• Pure Momentum – $149
• Volume Anomaly – $149

E-Trade Pro Settings

Scanners from this special group are primarily useful to professional traders with advanced knowledge on the topic. The group includes:

• E-trade Pro Momentum Scanner – $200 – designed to catch movers early, including the premarket
• E-trade Pro Penny Stock/Small Cap Momentum – $200- similar to above described but focused on penny stock
• E-Trade Pro VWAP Over-extension Scanner – $200 – benchmark used especially in pension plans

Subscription Costs

Only after buying the subscription can you get to the discord server for the promised insights and knowledge. The account purchase also unlocks access to the above described indicators and other tools.

There’s two of them and what they feature isn’t entirely known:

• Elite – $99/month
• Elite Gold – $1.799/lifetime

A 14-day trial option is given, however, so at least you can first perhaps test the tools before buying any of them.

Funded Trading is Far Safer!

There are virtually no advantages to purchasing any of the subscription plans with this illicit company. Sure, their baseline plan might be cheaper than the competition, but it doesn’t offer any utility on its own.

To receive any actual trading signals, you’d need to purchase additional separate modules, which quickly stack up and become pricier than other services on the market. Are you tired of endlessly looking for that one advanced trading tool, only for it to turn out to be total ripoffs? Our funded trading program is a solution you need!

Talented traders that have the necessary skills can receive up to $180,000 of funding with our prop trading firm. Book a free Zoom call today using a utility on our site, and receive the edge you need to raise your portfolio to the next level!

FAQ