XTB Warns of Scammers Representing Brokerage in Saudi Arabia

[kreslik.news]

An epidemic of scams continues to ripple through the FX industry, this time affecting Polish retail brokerage company X-Trade Brokers (XTB). In the latest example of scammers trying to deceive, multiple individuals were falsely claiming to represent XTB Limited in Saudi Arabia, a region the group has no ties with.

Such episodes of fraud are hardly uncommon in the industry today, with numerous jurisdictions and domestic regulatory authorities always on the prowl for this activity. The past few years have seen an uptick in frequent warnings from these regulators, which together with parallel announcements from companies being targeted has helped mitigate ... (read more)