Reported as a scam / unregulated
Why Xtrade is on the register
Xtrade claims to hold a license from the Belize Financial Services Commission (Belize FSC). However, our verification with the authority suggests that all potential licenses associated with the broker have been canceled. In addition, the company purports to be licensed in South Africa by the Financial Sector Conduct Authority (FSCA), and the related firm name is Peak Wealth PTY Ltd supposedly under License Number FSP44681. But on the FSCA register, the company under FSP44681 is PEAK WEALTH 8INVEST (PTY) LTD and the associated information with the licensee is inconsistent with what Xtrade asserts. Therefore, there is no evidence to suggest that Xtrade is regulated by the FSCA. In essence, Xtrade is not regulated by any governing body. Entrusting it with investors’ funds is highly risky, as there are no legal protections in place to safeguard the funds. Xtrade appears to be a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you to the right next step. A free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.