Fake XTB

Fake XTB is a forex and CFD broker registered in the United Kingdom, operating under the domain tbfxtrades.com. It was founded on August 13, 2019. The broker presents itself as a multi-asset trading venue offering a range of instruments including forex, commodities, indices, cryptocurrencies, stock CFDs, and ETF CFDs.

Despite its name, Fake XTB is not affiliated with the well-known broker XTB. The similar branding may be an attempt to confuse or mislead potential clients. Traders should exercise caution and verify the broker's credentials independently.

According to our records, Fake XTB claims to be regulated by the Financial Conduct Authority (FCA) of the United Kingdom. However, the licence status is listed as '—' which indicates that its current standing is either unknown, suspended, or not publicly verifiable. This is a significant red flag.

An FCA licence is one of the most stringent regulatory frameworks globally, but without confirmation of an active licence, clients cannot rely on the protections that FCA regulation typically provides, such as the Financial Services Compensation Scheme (FSCS) or access to the Financial Ombudsman Service.

Fake XTB offers two account types: STANDARD and PRO. Both accounts have no stated minimum deposit requirement, which lowers the entry barrier but may also attract less experienced traders. The maximum leverage is set at 30:1 for both accounts, which is in line with ESMA retail client limits for major forex pairs.

The broker does not specify spreads, commissions, or additional fees in its known information. The absence of such details makes it difficult for traders to assess the true cost of trading.

The broker’s product offering includes forex, commodities, indices, cryptocurrencies, stock CFDs, and ETF CFDs. This range is common among retail CFD brokers, providing exposure to multiple markets from a single account.

No information is available regarding the trading platforms or execution models. The mention of an 'STP' (Straight Through Processing) licence in the regulatory entry suggests a non-dealing desk execution, but this cannot be confirmed without further details.

FXCanary's Scam Risk Score for Fake XTB is 85 out of 100, categorised as 'Severe'. This high score is driven by the unverified regulatory status, limited public information, and the broker's suspiciously similar name to a legitimate established firm.

Trading with leveraged products carries substantial risk of loss. For a broker with such opacity and lack of independent verification, the risks are amplified. This broker is not suitable for risk-averse traders or those seeking a regulated and transparent environment.

There is no information available regarding how Fake XTB handles client funds. Typically, FCA-regulated brokers are required to segregate client money and participate in the FSCS. Given the uncertainty over the FCA licence, clients cannot assume these protections apply.

Traders should only deposit funds they can afford to lose, and should consider withdrawing any existing balances until the broker’s regulatory standing is clarified.

Fake XTB presents itself as a forex and CFD broker with a UK registration and a claimed FCA licence. However, the lack of verifiable regulatory details, combined with a high scam risk score, makes it a highly speculative choice. We advise thorough due diligence and caution before engaging with this broker.

For those seeking a safer alternative, consider brokers with confirmed regulation by top-tier authorities and a long track record of transparency.