I previously warned about XTRADE’s fraudulent practices. Today I have received their final response (9 April 2026), and I want every potential victim to see exactly how this company operates.
What XTRADE did to me:
Approached me unsolicited with promises of “guaranteed high returns.”
After a small fake “success” to build trust, their agents (Igor Iserman, Mateo, and Michael Harris) pressured me daily to deposit larger sums
They claimed additional deposits would “reopen closed trades” – a technical impossibility on any legitimate platform
They admitted to using “wrong assumptions” on my trades, then demanded more money to “recover” those fabricated losses
They extracted a total of R108,493.95 from me between September and October 2025
What XTRADE offered:
After months of complaints, they offered me USD 1,000 (approx. R16,898) – less than 16% of what they stole – as a “goodwill gesture” with no admission of liability. I rejected it.
What XTRADE says now (verbatim from their email of 9 April 2026):
“Please be advised that this remains our final position on this matter, and we consider the case closed from our side.”
That is correct. They have closed the case without refunding the remaining R91,595.95. They keep my money. They admit no wrongdoing. And they expect me to go away.
Why this matters to you:
If you are considering XTRADE, know this: they will promise you guaranteed returns, pressure you to deposit more, then blame “market risk” when you lose everything. Their platform is a simulation – real brokers cannot “reopen” closed trades. Their agents will harass you with “Christmas presents” and “bonuses” to lure you back.
I have reported XTRADE to the South African Police Service, the FSCA, and Interpol. I am also posting daily on social media until I receive my full refund.
My demand remains:
Pay me back R108,493.95 in full. Not USD 1,000. Not a “gesture”. My entire stolen amount.
Until then, I will keep updating this review and every other public platform. Potential victims deserve the truth.
Date of experience: September – October 2025
Amount stolen: R108,493.95
Final offer from XTRADE: USD 1,000 (rejected)
Current status: Case closed by XTRADE without full refund
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XTrade is owned by XFR Financial Ltd. Our company is based in Limassol, Cyprus. XTrade is authorized to operate by CySEC to offer Contracts For Difference (CFD).
Xtrade is managed by financial markets professionals, with decades of experience within the brokerage industry. From this corporate and personal experience has come the recognition that CFD trading success is based on exceptional customer service, innovation and fast and reliable execution.
XTrade online trading platform offers our market traders a wealth of information and sophisticated trading tools to help them to realise their trading potential and make the most of market movements as they happen as well as the flexibility and speed to trade anytime and anywhere — including markets in the US, UK, Europe and Asia — all from one account.
XTrade is growing rapidly as a CFD provider with a global presence: Offices across five continents along with clients in over 140 countries.See more
