Read our XP Investment review to see if we recommend this broker for trading. Just to clear doubts, this is a xpinvestment.com review.
Is XP Investment Legit?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are infamous for scamming schemes.
So, XP Investment is just another unregulated forex broker, which means the customers aren’t protected, and there is highly likely they will get away with your hard-earned money and there will be no regulating agency to hold them responsible.
How does the scam work?
Usually, unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit. And they will try any conceivable method in order to make that happen. They will offer deals that sound too good to be true. Like we will double your initial deposit or you will make hundreds of dollars per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, they transfer clients to a smarter scammer, called a “retention agent”, who will try to get more money out of you. Also, one thing we need to add here is: don’t trust the good XP Investment reviews you might see online. They pay websites and services to improve their online reputation by posting good reviews about them.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It doesn’t matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back XP Investment?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all, you need to keep the emails as proof that you have been requesting the money back from them but they don’t give it to you. Or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how they deceived you into depositing money for a non-regulated trading company. Mention also that they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact [email protected] but don’t let your broker know they you read this article or that you are contacting us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on where you live, you can search google to find the regulatory agency for Forex brokers in your country. After that you can prepare a letter or an email describing how they deceived you. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you don’t know where to start, reach us at [email protected] and we’ll help you with this step as well.
Make sure you leave XP Investment reviews in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites. See what other sites have posted reviews about XP Investment, and describe shortly what happened. If you fallen victim, please leave a review and a comment on this site at the comment section. Also, when these people change their website, they tend to call the old clients. So, if they call you from a new website, mention it in the comment or let us know about it. That would be really appreciated by us by our users. Also, if you get phone calls from other companies, please put the name of these companies also in the comment. Or you can send them to us and we will expose them too.
XP Investment Review Conclusions
Making the XP Investment review was our pleasure, and we hope to save as many people from losing their hard-earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our XP Investment review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade, please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
I just loose 250. They dont want to withdraw the money for me. I loose it already. Lesson learned
(5/5)
After following a link about quantum ai I was called by a person who said its name was Sawyer Kahn. I told him I would think about it using this platform. After some websearching I decided not to.
Since then he is stalking me over the phone. Calling from 12 different numbers including +44 countrycode. He doesn’t take no for an answer. I repeatedly told him to stop calling me.
This broker has so dished me down.
Very aggressive sales strategy and finally are itself
the surmittances of trades not real
Example GBPCAD opened at 18.07 12.21am “buy”
closed on 19.07. 11,42 o’clock profit 12500 dollars
At this point, the currency pair has gone well into negative ones.
Compare !!!
This trader sibd all funds right to cease your money.
There are many excuses for payouts
FCA , ECB , are called all not real I have asked.
Fingers Get Away Scam
(1/5)
I was naive and thought that Holly Willoughby was endorsing XP investments on This Morning so I signed up thinking I could just have a look at the website before actually deciding to buy into it. I instantly received a phonecall from a man after signing up and after a few minutes of attempting to sweet talking me I explained that I would decide in my own time if I would like to actually activate my account. I explained that I was in a rush to get somewhere but he was extremely reluctant to let me end the phonecall. Eventually it turned into a bit of an argument and some things were said by him that made me even more suspicious that this was not a legit company I was dealing with. I asked to remove my details from the system as I was not interested and hung up the phone. He rang straight back so I rejected and then blocked the number. He then called from another number, I said delete my details and hung up and blocked the number. Three months on now and I still receive multiple calls from multiple numbers from people in XP Investments and each time I tell them I am not interested and to delete my details. I had one man claiming that he was a manager ring me and when I explained that I wanted my details deleted or I would take legal proceedings as they company was harassing me. He told me that he needed a reason so that he could delete my details. I told him I just wasn’t interested in their service and he tried to manipulate me by saying ‘so you don’t want to earn a lot of money by doing nothing?’ I told him no I do not and he started asking was I afraid so I just said ‘yes, I’m afraid’ even though I’m not necessarily afraid and apparently that wasn’t a good enough reason. He then started asking me really personal details like ‘how much money do you make’ and ‘how are you able to afford to go to college but can’t afford to spare €250 to activate my account’ and ‘when will you have €250 to activate’. I told him that the answers to all of those questions were none of his business and that I was now fully convinced that it was a scam and was very obviously angry with him by this point. I told him that I was taking legal proceedings and he said what is the point in that, they can’t do anything and I would just end up losing money. He then said ‘I bet you have no boyfriend’ which to me was not only immature, ridiculous and totally unprofessional, but also not the type of thing that any professional organisation would allow or condone their staff to say. I still constantly recieve phonecalls from XP Investments and I am now at a point where I am considering changing my number.
Please steer clear.
THIS IS A SCAM!!
These people will say ANYTHING to try and get you to sign up!!
This is a scam!!!! They are just trying to find every possible way to get more money out of you to them, with every possible delays of not paying your money back. They are persistant of calling you, even aggressive with they way. Different persons call you like Elisabeth Cooper, Valerie Crofton and Andrew Greenberg. Been scammed over 20 000, they totally ruined my life.
(1/5)