XTB Empire review – 5 things you should know about xtbempire.com

Beware! XTB Empire is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

XTB Empire advertises itself as an established forex broker serving hundreds of thousands of satisfied clients. But careful inspection reveals that this website is nothing more than yet another online scam that has already come into the sights of financial regulators.

XTB Empire Regulation and safety of funds

Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. The availability of such information does not guarantee that it is not false or misleading.

The legal information on the XTB Empire website is completely contradictory. The homepage lists an address in Cyprus:

However, according to the text of the Terms and Conditions, the address of the XTB Empire Ltd company is in the United Kingdom:

The same document states that the applicable jurisdiction is that of the Dominica offshore zone:

A check of the records of the relevant regulators shows that XTB Empire is not among the authorised brokers in any of these countries.

The website is also available in Italian, which has led the Italian financial regulator CONSOB to blacklist XTB Empire:

Under no circumstances should you trust your money to such anonymous websites full of false and contradictory information. Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like Cyprus Securities and Exchange Commission (CySEC) or Financial Conduct Authority (FCA) in the UK.

As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK.

Regulations in the UK and EU include some important measures designed to improve investor protection and promote market integrity and transparency, such as transaction reporting. Regulated brokers are also required to segregate their operational funds from the client’s money.

XTB Empire Trading software

After registering an account, we get access to a pretty basic web trading platform that doesn’t feature extensive customization options or advanced functionality.

We’ve seen the exact same platform being used by multiple fake brokers we’ve encountered. Scammers are using rigged trading software to fool their victims into believing that their money is really being invested and even turning a profit.

While the platform has the basic features for placing orders, customising charts and application of technical indicators, it lacks the more advanced functionality found in the most widely used trading platforms in the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

XTB Empire Trading instruments

XTB Empire claims to offer a large number of instruments across all major asset classes. But as stated, we have no good reason to believe that this trading is real and not fictitious.

XTB Empire Spreads and cost of trading

XTB Empire does not provide information on the trading price as well as most parameters.

Genuine forex brokers provide detailed information about the trading conditions. Legitimate companies also offer different account types to suit clients with different experience, capital and investment intentions.

XTB Empire Maximum leverage

When registering an account, you can choose a leverage of up to 1:1000. This is also proof that we are dealing with a scam and not a regulated broker.

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.

Another such piece of evidence is the claim that XTB Empire offers bonuses. Regulated brokers are prohibited from offering bonuses and promotions. Scammers often use promises of supposedly generous bonuses to tie their potential victims to extortionate terms. XTB Empire does not provide clear information about the conditions attached to bonuses.

If you are nevertheless willing to take the risk of high-leverage trading and want to take advantage of bonuses, promotions and prize games, the best option is to use the services of offshore brokers operating under an established brand.

XTB Empire Deposit and withdrawal methods

At the time of writing this review the deposit menu was not active. We were therefore unable to ascertain what payment methods were available.

Experience has shown that fake brokers routinely advertise conventional payment methods, but actually steer their potential victims towards cryptocurrency transactions

If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.

XTB Empire Minimum deposit

XTB Empire requires a minimum deposit of 250 USD. With this amount you could open an account with any licensed broker in the world. Leading brands offer Micro accounts with a very low entry threshold.

XTB Empire Withdrawal requirements

If there is no trading activity, XTB Empire charges a 3% withdrawal fee. Given all of the above, you can expect other hidden fees and nasty surprises.