TradeXTen

Our investigation into TradeXTen found an operation with the classic markings of an investment scam. If you are weighing a deposit — or trying to get one back — read this first.

Who is TradeXTen?

On the surface, TradeXTen looks like an ordinary forex and crypto broker. Its public site is presented at https://www.tradexten.com/. But surface impressions are exactly what these operations rely on — the substance behind TradeXTen is where the problems begin.

Is TradeXTen regulated?

We could find no evidence that TradeXTen holds a valid licence from any recognised financial regulator. Trading client funds without authorisation is one of the strongest indicators of a scam — there is no regulator to complain to, and no protection for your money.

Red flags we identified

• Unrealistic profit claims and pressure to deposit more
• Aggressive “account managers” coaching clients to deposit
• Offshore or shell-company registration used to avoid oversight
• No credible physical address or verifiable corporate record
• Opaque or anonymous corporate ownership

Our analysis

TradeXTen claims to be a trademark owned by X Ten Global LTD (Seychelles), a Seychelles-registered company founded in 2015. But first, when we checked its domain, we found it was created in 2021. So how could it start its business in 2015? Second, as per relevant law, the Seychelles Financial Services Authority (Seychelles FSA) is responsible to license, regulate, enforce regulatory and compliance requirements, monitoring and supervising the conduct of business in the non-bank financial services sector in Seychelles. However, we did not find any match results to TradeXTen or X Ten Global LTD (Seychelles) in Seychelles FSA. That means this broker is not an approved broker operating a business in Seychelles. Third, TradeXTen shows its company address is in Canada. As per Canadian law, forex brokers in Canada all should be regulated by the Investment Industry Regulatory Organization of Canada (IIROC). But there are no match results to this broker in IIROC. The truth is, TradeXTen is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Can you recover money lost to TradeXTen?

If you have deposited with TradeXTen, do not pay any further “fees” to withdraw — that is part of the trap. Funds sent to operations like this can sometimes be traced on-chain and pursued through the exchanges and processors that received them. Whether recovery is realistic depends on how you paid and how quickly you act.