Xpertrade.Org Review — Xpertrade Red Flags!!!

Xpertrade.org Review Disclaimer: This information is provided solely for warning and alert purposes. It highlights major red flags associated with Xpertrade, a questionable trading platform operating under the domain, “xpertrade.org”, and appears to be based in the US. The review is based on my personal experience and publicly available information.

Xpertrade.org: Is it trustworthy? 

The short answer is NO. 

Read on to find out why!

Xpertrade.Org Red Flags

1. Xpertrade Is Unregulated

About two years ago, the CFTC published an article on 10 signs of a scam crypto or forex trading website. The #1 sign was:

If the website is not registered to trade forex, futures, or options. 

Xpertrade.Org lists 17 Station Close, Potters Bar, Hertfordshire, UK as its physical address. 

All brokers operating in the United Kingdom are required to be licensed and regulated by the UK’s Financial Conduct Authority(FCA). I even emphasized that fact in this review post of another fraudulent broker called Rich Point Capital(richpointcapital.com), if you recall. 

I searched the FCA’s public register for Xpertrade but found no results. On top of that, the broker doesn’t display any regulatory information on its website, which can only mean that they are unlicensed and unregulated.  

Fraudulent brokers often avoid licensing and regulation to conceal their dubious practices and evade oversight as well as accountability demanded by regulatory bodies. 

2. Xpertrade.Org Is A Suspected Previous Scam

I suspect that Xpertrade was previously Elite Expertrade(eliteexpertrade.com) which the FCA did blacklist for soliciting investors in the UK without authorization. According to the authority, Elite Expertrade whose domain; eliteexpertrade.com–no longer exists, was based in Florida, USA. Coincidentally, the customer support agent I interacted with on xpertrade.org informed me that the company Xpertrade operates from the US. This is more than a mere coincidence. 

On 18 Jan 2024, the International Organization Of Securities Commissions(IOSCO), available at iosco.org, issued an alert against Elite Expertrade(eliteexpertrade.com).  

For those who don’t know, IOSCO is an international public body that aims to ensure fair, efficient, and transparent markets. The body serves as a vigilant watchdog and never hesitates to issue alerts to the public about brokers that may be involved in fraudulent activities. It can issue an alert against a broker when the broker is suspected of:

• Engaging in fraudulent practices.
• Operating without regulatory compliance.

3. The Broker Offers Unprofessional Customer Support Service

The broker offers a Live Chat service, but it appears to be managed by an untrained or poorly trained support agent who fails to answer questions professionally or adequately.

As shown in the screenshot below, I asked the agent where the company is based. 

Their response was, ‘We are from us.’

Uncertain about what they meant, I sought clarification, asking if they were referring to the US or something else. They responded with a simple ‘yes,’ indicating that they were, in fact, referring to the US.

Moreover, they left several of my questions unanswered, including whether the company is licensed and regulated, as well as details about fees and other charges. The support agent actually told me to sign up and find the information I needed on the company’s website. They claimed that they had many customers to attend to as you can see in the screenshot below:

Honestly, I’ve never encountered customer support that outright avoids answering questions, especially with a response like that. To say it was unprofessional would be an understatement—it was almost laughable.

This interaction highlights the agent’s inability to address client queries coherently and thoroughly. Additionally, their responses were riddled with grammatical errors, which is not characteristic of a well-trained or competent customer support agent.

Unprofessional and incompetent customer support can sometimes indicate that a broker is a scammer.

Dubious brokers normally offer unprofessional and incompetent customer support service due to many reasons, including:

• Hiring low-cost and untrained support agents to keep their operational budgets low. 
• Deliberately avoiding answering crucial questions e.g. licensing and regulation.
• Intentionally confusing or misleading potential victims, preventing them from understanding the true nature of the scammer’s operations.

4. Xpertrade.Org Is Highly Deceitful 

I detected the broker’s deceptive nature in several instances during my brief interaction with the purported customer support agent on Live Chat.

In the first instance when I asked about the company’s location, the agent stated that they are from the US contradicting the physical address listed on the website—17 Station Close, Potters Bar, Hertfordshire, UK. 

This contradiction raises doubts about the sincerity and credibility of this broker. 

In the second instance when I asked about the countries that are exempted from using the services of Xpertrade, the agent lied to me that they accept all interested investors. Here’s why I believe that was a lie:

I’ve never come across any legitimate trading platform that accepts traders from all countries worldwide. Believe me, there are always at least a few countries that are exempted from most legitimate platforms. Normally, countries under economic sanctions e.g. North Korea, Iran, Syria, Russia, and Sudan, are often exempted.

Final Thoughts

Xpertrade.Org is a questionable broker with lots of red flags. For example, owing to compelling evidence beyond a mere coincidence, I suspect that this broker was also behind a previous scam called “Elite Expertrade(eliteexpertrade.com)”. Elite Expertrade was blacklisted by the FCA and the IOSCO vigilant watchdog for operating without a license and engaging in dubious practices. 

Another red flag is that Xpertrade is deceitful and non-compliant, not to mention that it offers unprofessional customer support just like other dubious trading platforms. 

Owing to these serious red flags, I would like to advise investors to avoid this purported trading platform. 

Report A Scam Incident

Have you fallen victim to Xpertrade.Org or another fraudulent broker? If so, go to this page to report the incident and seek help. You may also send an email to scamread@scamreader.info.