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Xtrade story

Xtrade story

Here is the testimony of another Xtrade victim:

My story starts like this – I saw their ad on Investing.com I joined. They persuaded me to put money in and also offered a 100% bonus which was a waste of time as you have to do it in 30 days to get points but it would require so many trades a day its almost impossible to get them. The account manager Elana Solomon then said simply when you see the market go down sell when you see the market go up buy. so I did a trade and put a stop loss and it went to the stop loss. I thought no the contracts are too high and too risky and already -$600 decided to withdraw the remaining cash and close the account. But she called in the morning and said forget about stop losses and lets try again. She advised on some good trades to do currency and gold, they all went heavily in the loss, the a few days later on the announcement of Federal Reserve boss Yellen – the markets went volatile and my take profits kicked in. So eventually made a profit only due to volatility from a major loss.

She then advised you make money on the German 30 and Italy 50 – she said market going down so sell – so I trusted her and did a sell, made a small profit which I closed – then did another one – but both Italy and German then started going major up. She advised no stop losses and all of a sudden was in major losses. She said don’t worry markets will always correct themselves and no such thing as a bad trade.

Just add more capital she would say. To avoid margin call had to add more on the basis she said was just a temp thing – markets will correct itself – I also did some currency she advised which also went into losses.

It just went bad to worse. I lost money. She told me to do a couple of other trades I held back  – one I even challenged saying your own charts are contradicting what you are saying and if I had listened and did the trade I would have lost more. This was about 3 times I checked her advice would have led to losses – exactly the same what happened to other people.

I withdraw what I had left and that was a struggle as they made it hard. When I realised the same had happened to others I realised  I was scammed.

Incidently Elana Solomon worked for Xforex as you can read from other testimonies she did the same things to others as was done to me. Xtrade have not changed they are continuing the same practices which CYSEC have fined them for xforex.

You will find many others will confirm the same story – over and over again. Every time she would say trust me, it was in her interest to make sure I win. The realty is that an accusation is being made that they keep all the money or they hedge and make money that way. My biggest regret was not doing my due diligence and not being firm to walk away from small losses.

Xtrade are scammers

Xtrade create victims

Elana Solomon cannot be trusted, she will tell you to do trades that create losses

A class action is forming against them and I have handed the case to Phoenix Advisors.


If you an Xtrade victim contact Phoenix Advisors to see how they can help you.


If Xtrade have scammed you – please share your story in the comments section and contact Phoenix Advisors.

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10 comments to Xtrade story

  • Hello my name is Julia. I want to share my story here about Xtrade Platform. Horrible, very doggy platform…I put it on the Forex Peace Army…So read it…

    This is really bad what happened to me this morning.Yesterday noon time I opened a trade I sold wheat.
    Today early morning I found out that they closed my trade because of low margin.Suddenly I saw that they deceived me as wheat price never went to the level of 484,75 level early morning, its gone to 484,50, not more than that>But it stated on my closed trades its closed at the level of 484,75.Its very bad as they noticed that wheat price gonna fall and they did not give a chance to succeed, and closed it.Now the price of wheat dropped a lot this morning.And guess they asked me to deposit money:))))

    I really want my money back and a resolution for this problem.I went to investing.com and check the candle stick and it wheat level never went to 484,75 level last night

    julie4444, May 18, 2016 .


  • Manjit

    From another person who was scammed:

    my story. Maxim said that the money to insure 100% when will welcome 1000 $ bill should lose impossible. Mixael Planonov personal broker, promised to teach me to work with the platform. He did not train with the demo. The next day the money was not. I experienced a shock. As bad speak English, I am writing with Google Translator …
    I contact with Xtrade support. They just take my time and nerves but nothing helped. Communicate in Russian.
    It is a painful lesson. I want to forget.

  • Manjit

    Karim Sayyed

    I sadly fell for the xtrade scam. the only less bad part is that it was only 50dollars. im seeing it as a lesson cost. but im scared that they will somehow take more money now. i simply want the account deleted but they are not helping me with that and im very wary of verifying the account with my personal data. Do you think that if i simply leave the account as is and dont touch it they will simply leave me alone?

  • Manjit

    Gemma Callueng Puno
    Hello. I have big issues recently with XTrade. I have discovered that their system is manipulated and the assigned market expert or broker to you was not giving good advices but instead mislead their traders. I have deposited $550 to their account. With a span of 2 days, I incurred $300 losses already. thats when I realized that they are fake and scammers. I immediately widraw my remaining funds because I am not satisfied with their services specially their trading system. Its 100% manipulated. I already emailed their finance division to refund my remaining balance but they are not replying to my emails. Its so easy for them at first to call and convince you to invest with their company and even assured you that its safe to invest because anytime you want to withdraw, you can easily get your funds, but when the time comes you want to stop trading and are withdrawing, they are already hard to contact. they are hiding. How can we file a suit against these scammers? Please help us!!!!!!

  • Eric

    Arinze Madu
    I am having a massive issue with them I have pointed out a glitch with their application where the application closes positions incorrectly when you select stop at profit. I feel like I am banging my head against a brick wall. Please don’t use the application as it has a major fault. If you set your close at profit to close at $60 for instance it will close at a negative value this has happened to me three times already using the application. I’m not sure it this is the same for the website but I can say that their 100% an issue with the application. Please don’t use the application it has a major glitch that will make you lose money on trades set to close at profit. I can show you screen shots of what my trades were supposed to close at and what they actually close at. I have also taken the liberty to record a video just to prove that i am not going mad. please email me and I will share. I plan to put this video on a few youtube channels in the coming days and i will post the link. Don’t bother with this company their application has a glitch and they refuse acknowledge it

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