XTrade suspended by supervision

Cypriot broker XTrade Europe Ltd., also operating under XTrade.com, XForex.com has been punished by local supervision "Partial" suspension of the license. For what reason?

Advertising is lying

A saying as old as the world and valid for this broker. CySEC stated that the advertising material and content provided by XTrade to its potential clients is "unfair", unclear and misleading.

The license has only been suspended to a certain extent, which means that the broker can continue to operate and service existing clients. However, there is one condition - XTrade must straighten out any false information given to clients within the next month. Otherwise, the broker will face more serious consequences.

This is not the first confrontation of a company with a regulator. In October, she was fined 225 000 EUR for three serious infringements, including also for misleading customers in marketing campaigns.

Conflict with the Polish XTB

The problems of a Cypriot broker with marketing occur on many levels. The Polish broker XTB has been fighting for a long time in court for a ban on the use of the "XTrade" trademark by XTrade Europe Ltd .. Finally, on March 15, 2017, the Court of Appeal in Warsaw awarded X-Trade Brokers DM SA a security, thanks to which the prohibition of using the word and graphic signs and the words "XTB", "X-Trade" and "XTrade", or even "X" due to the provision of financial services, brokerage (brokerage services) as well as training and financial advisory services.