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8xtrade

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Operating status: SCAM

Website: https://8xtrade.com/

Broker violations and abnormal records
  • 2024-11-03 BrokersView has reviewed that 8xtrade is an unregulated broker

    Although 8xtrade seems to have been using its domain name for about five years, the company behind the brand still lacks a valid license for its operations. The broker claims to be operated by Digital Smart LLC, allegedly registered in St. Kitts & Nevis, an offshore jurisdiction that does not regulate or supervise forex brokers operating out of its territory. Without any other valid licenses to prove its legitimacy in the forex markets, 8xtrade is considered illegitimate.

    In essence, 8xtrade 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.

    8xtrade appears to be a scam.

    Although 8xtrade seems to have been using its domain name for about five years, the company behind the brand still lacks a valid license for its operations. The broker claims to be operated by Digital Smart LLC, allegedly registered in St. Kitts & Nevis, an offshore jurisdiction that does not regulate or supervise forex brokers operating out of its territory. Without any other valid licenses to prove its legitimacy in the forex markets, 8xtrade is considered illegitimate.In essence, 8xtrade 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.8xtrade appears to be a scam.

Related Complaints

Q&A

Is 8xtrade really a good broker?

RayKozak
France
2024-11-05
ANSWER Dear Investor,We are concerned that 8xtrade is not a reliable broker and suspect it to be a scam.The domain name of 8xtrade was registered around five years ago. However, the company allegedly behind the brand, Digital Smart LLC, only claims to be registered in the offshore jurisdiction of St. Kitts & Nevis, which does not supervise forex brokers. If 8xtrade has been in business as long as its domain history suggests, this might be a major red flag—operating without a license for an extended period.Therefore, 8xtrade presents significant risks. To avoid falling victim to fraud schemes, we strongly advise steering clear of 8xtrade. For a safer trading environment, choose major forex brokers regulated by top-tier financial authorities.
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