Is xForex Scam or Legit?
Many traders and investors avoid the
stock market; they feel like they cannot compete with wealthy individuals. In
searching for an alternative, many traders turn to the foreign currency
markets. With this option, an investor can make money by following news around
the world. To some, this is a superior alternative to trading stocks or mutual
funds where one is up against well-funded traders. For this reason, many
continually research their options in the forex market.
Now, many people do not understand how the forex market works. This is okay as
a non-professional probably has only heard the word forex and nothing else.
Fortunately, most traders who do adequate amounts of research should understand
how to navigate the currency markets. Simply put, when a trader signs up for a
forex account, he or she can buy and sell currency from around the globe.
Usually, an experienced investor will have a solid plan to make a decent return
on investment. As mentioned, most traders will follow, in detail, both national
and international news and politics. With this information, the account holder
can buy and sell currency and make a profit if he or she makes the right trade.
In looking for a forex company, many people turn to the Internet to start their
search. When doing a search, many traders inevitably hear of xForex. With this
business, one can sign up online and get started trading immediately. Sadly,
many forex companies do not offer their customers all that they need out of the
experience. In fact, most customer reviews of xForex are not favorable as many
customers have run into serious problems with the company.
To get started at xForex, one would need to sign up for an account and transfer
funds. One can usually start trading the next business day, though when moving
large amounts of money, one may need to wait a few more days. Now, to receive
the funds, one can either withdrawal the funds to their credit card or bank
account. However, the process is cumbersome, and a trader will often experience
frustration when transferring money to and from the forex account.
In reality, xForex is not a solid brokerage house and a customer should
consider taking his or her business elsewhere. Not only is it difficult to
transfer money, but many clients have had difficulty in opening their accounts.
Furthermore, their customer service leaves something to be desired as many
reviews on the Internet show that xForex leaves clients out of the loop during
the entire process. In the end, the company is a scam and one should steer clear
of xForex and look for a broker who offers better customer service and does not
give their customers the run around when encountering small issues.