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On 22 Sep 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that XTB Global is a clone firm. The fraudster is using the details of firms UK FCA authorise to try to convince people that it works for a genuine, authorised firm. You may visit: https://www.fca.org.uk/news/warnings/xtb-global-clone-fca-authorised-firm
XTB Global claims to be awarded in 2020. However, we found its domain was created in 2022. How could it be awarded before 2020? It is a redflag.
In addition, XTB Global claims to be regulated by Australian Securities & Investment Commission (ASIC). So we searched in ASIC but found no matching results. That means the broker is not regulated by ASIC.
Moreover, one of the office of this company is located in Germany, according to its website. So we searched the Germany Federal Financial Supervisory Authority (BaFin) but still did not find any results. In another word, this broker is not regulated in Germant either.
What's more, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that XTB Global is a clone firm. The fraudster is using the details of firms UK FCA authorise to try to convince people that it works for a genuine, authorised firm.
The truth is that XTB Global is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.
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