Online trading has become an increasingly popular way for individuals to invest in financial markets from the comfort of their own homes. However, with the rise of online trading platforms comes the risk of scam brokers. One such broker that has come under scrutiny is XRPC. In this article, we will review XRPC and provide an overview of its services.
Overview
Broker name | XRPC |
Regulation Status | Not regulated |
License Status | Not found |
Website | Xrpc.co (Currently not active) |
Warnings | FCA, ASIC, etc. |
Trader Review | Negative |
XRPC is an online trading platform that claims to provide users with access to forex, commodities, and cryptocurrency markets. The platform offers a range of trading tools, including charting software and technical analysis tools, and claims to offer competitive spreads and leverage.
Is XRPC Regulated?
No, XRPC is not regulated by any financial authority. The lack of regulation raises concerns about the safety of traders’ funds and the transparency of the platform’s operations.
Their website is in unavailable condition since May 2018. The interesting part is from the very beginning, they set up their website as crawl disabled by any crawler.
Warnings from Financial Regulations:
Several financial regulators, including the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), have issued warnings about XRPC. These warnings indicate that XRPC is operating without the necessary regulatory approval and may be engaging in fraudulent activities.
Is XRPC Can Be Trusted?
Given the lack of regulation and the warnings from financial regulators, it is difficult to trust XRPC as a legitimate trading platform. The lack of transparency regarding the ownership and management of the platform also raises concerns.
What Kind of Currency Pair Do They Offer?
XRPC claims to offer access to a range of currency pairs, including major and minor pairs, as well as exotic pairs. However, the lack of transparency regarding the platform’s operations makes it difficult to verify the accuracy of these claims.
Customer Support:
This site claimed to offer customer support through email and live chat. However, there have been reports of slow response times and unhelpful customer service representatives.
Trading Method (MT4/MT5/Any other method):
XRPC.com claims to offer trading through the popular MetaTrader 4 (MT4) platform. However, it is unclear whether the platform is actually connected to the MT4 servers or if it is a custom platform designed to look like MT4.
What Do Traders Think About XRPC?
Traders who have used XRPC have reported a range of issues, including difficulty withdrawing funds, poor customer service, and suspicious trading practices. Many traders have reported feeling scammed by the platform.
What To Do If You Get Scammed?
If you believe you have been scammed by XRPC, it is important to take action immediately. Contact your bank or credit card company to report the fraudulent activity and request a chargeback. You should also report the scam to the relevant financial regulator in your jurisdiction.
Finally, you can submit your report to PremiumRecoup. We will analyze the case and will provide you with a free consultation and service recommendations to help you in recovering the lost funds.
File A Complaint & Get Free Consultation
Final Thoughts:
XRPC is a scam broker that should be avoided at all costs. The lack of regulation, warnings from financial regulators, and reports of fraudulent activity all indicate that this platform is not a legitimate trading platform. If you are considering trading online, it is important to do your research and choose a platform that is regulated by a reputable financial authority.
