The website Xcgin.com is providing brokerage services.

It is targeting retail traders with their bogus CFDs trading platform.

Xcgin.com implies that their platform guarantees “competitive” spreads, expert guidance and transparency.

This broker started in 2021 as a basic website that offers trading services to clients. However, the broker has never secured a license up to now.

Xcgin.com claims that they’re based in Amsterdam but we can clearly see that the Dutch financial regulator is not aware of the activities of this broker in their country.

This broker is clearly engaging in fishy business and that’s why they’re unable to secure a company and a license.

How exactly are they going to provide you with professional trading services?

Xcgin broker review

The broker is also known as Xcgin exchange. They’ve refused to disclose the name under which the company is registered.

Their only claim to fame is that the broker has won multiple awards such as “best broker in Europe”, “best ECN broker”, “Best CFDs provider” etc.

These awards are unverifiable. There’s no evidence that this broker has won any awards since they launched the trading platform back in 2021.

We also take their promises which a pinch and salt. The broker’s marketing material does not inspire trust. Instead, it implies that this broker is making promises that they cannot fulfill.

Also, brokers are not trading education providers. Xcgin claims to offer trading education. This “trading education” is too shallow and meant to convince you that this broker cares. They don’t.

In fact, any CFDs broker is a bucket shop meaning that they’ll always trade against you to make their profit.

They chase your stops and also widen spreads intentionally. And sometimes they freeze the platform if they know that you have a consistent scalping strategy.

We’ve look at this broker with a fine lens and noted that they’re not providing anything different from other CFDs brokers known to mess up traders’ funds.

What you don’t know about Xcgin exchange

1)Despite this broker launching their business in 2021, they are not popular and no customer feedback or rating has been provided.

2)The broker does not have a valid broker’s license and this means they are an illegal outfit.

3)Xcgin lies to its customers in various ways in order to win their trust i.e. the alleged 10 years of experience is a lie and also this broker does not keep your funds in segregated accounts.

4)The trading education and “expert market analysis” is not honest.

5)Company information is non-existent.

6)The broker’s “positive reviews” on the internet and paid for and not honest.

Conclusion of this broker review

Xcgin is a broker that wants your downfall because that’s how they make money.

Notice that this broker does not offer a practice account for new traders. Instead, they expect new traders to fund their accounts with $250.

Trading without proper education and experience is the quickest way to lose money even if you were trading with a legitimate broker.

We also noticed that this broker is unable to talk about their company in a way that is transparent and without marketing fluff.

This tells us that the people who operate Xcgin are not serious. They can’t be trusted. If they want to gain trust from their clients, they should at least get a license and stop promoting the illegal entity using paid-for advertising that serves to mislead clients.

In conclusion, Xcgin is not offering legitimate trading services. If they were so, they would have been one of the most popular and loved brokers in the world.

Only a handful of people know about this broker are they’re unwilling to trade with them. This speaks volumes.

Our advice is that you should steer clear of this broker.