Warning on Investment Scam: XH Pro Demands Client Pay 26,600 USDC to Unfreeze Account

On September 15, an investor reported to BrokersView that he had been defrauded by XH Pro. The broker allegedly froze the investor's account under false pretenses and then demanded a hefty “unfreeze fee.”

The investor with the username “SS” stated that he was initially lured to XH Pro by “money-making” opportunities and earned some returns during the early phase of his investment.

Later, a staff member claimed they could help him deposit funds via an external wallet to continue profiting. However, this action led XH Pro to freeze his account. The platform then demanded a payment of 26,600 USDC to unfreeze it. The so-called “unfreezing” appears to be a fabricated excuse by the unlicensed broker to extract additional fees.

Based on the victim's experience, XH Pro uses small returns as “bait” to gain clients' trust before defrauding them of larger sums.

In June, the website of unlicensed forex broker XH Pro appeared in a warning issued by Germany's financial regulator BaFin. The regulator emphasized that the website's operators were providing financial services to the public without the necessary authorization.

At the same time, BaFin warned about ten other websites identical to XH Pro. These sites employed an introductory statement: “Your Trusted Narrow Spread platform - [name of website] is a global company in the United States, providing customers with a wide range of OTC CFD products covering futures, precious metals, energy, and commodities.”

Notably, XH Pro holds no financial license in the United States, as it is not registered with the National Futures Association (NFA).

BrokersView reminds you

Global financial regulators regularly publish lists of unregulated trading platforms on their official websites, detailing platform names, URLs, and contact information for investor reference. If the platform you're considering appears on one of these warning lists, proceed with caution and make investment decisions carefully.

Furthermore, unregulated forex brokers frequently hide fraudulent investment schemes. To protect your funds, it's essential to verify a broker's regulatory status through BrokersView before investing, helping you avoid unnecessary risks.