May 2024

Xtrade story

Xtrade story

Here is the testimony of another Xtrade victim:

My story starts like this – I saw their ad on 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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