Xchangely. Is this a fraud company? School4broker

No, this is not legitimate. It is just one more fly-by-night unregulated investment site, almost all of which are fraudulent. When you trade with an unregulated firm, it's easy enough to put money in but impossible to get your money out. They may let you test the waters initially and withdraw money, but then they turn the pressure on and urge you to invest more money. That's the last you'll see of your funds. Unregulated firms are operating illegally to begin with, so they make up their own rules and change them whenever it suits them to keep you from recovering your money.

All of these bogus firms tend to have other things in common. They are relatively new, for example, which means you can't rely on a lack of scam reports before you invest. They are set up to disappear quickly, typically their domain names are ***** ***** for a year, and they are not where they say they are.

These kinds of falsifications make it difficult, almost impossible to find out who and where your scammers really are so that you can take legal action against them to recover your funds. Your ability to get your money back will typically depend on whether law enforcement can bring them to justice, and that, unfortunately, is a longshot.

xhangely.io, true to form, is just 157 days old, according to its domain registration. It was set up to stick around for a year -- the least amount of time you can have a domain name for. There's a real possibility this "company" will disappear altogether before September 15, and all of your money with it.

It claims to be licensed in Estonia, but it is not registered there, and it is hiding its actual location on its website. Meanwhile, on its domain registration, the site traces to the US and it is using a private service from Panama to ide its real location. Where it really is, is anybody's guess. What's certain is that this company is not authorized by the FCA to trade in your country. You can look that up here and see it for yourself. https://register.fca.org.uk/s/This company has no authority to really trade anywhere.

AVOID!

This firm is practically brand new, but it ticks off all of the boxes for an almost certain fraud. Primarily, it's not authorized to trade in your country. That means if they don't let you pull your earnings out -- which is how these unregulated firms work -- you'll have no recourse in your own country to recover your funds.

The FCA warns your countrymen not to trade with unauthorized firms. The likelihood of scam is almost certain. What good is making money if you can't withdraw it or find the firm to be able to recover your funds through legal means?

Any additional questions? If you need more clarification or have a follow-up, just reply and we can continue our dialogue.

I can't find marketrip - school4 traders. Do you have a website for it?

What I can say in general is that you shouldn't have to pay a fee to get your money back. That's usually a sign of scam. They could verify you independently without you having to pay that sort of a fee for it. £228 isn't a nominal amount. Sounds a bit fishy to me, but I'd like to look into that further.

It is probably not safe. If you give me the website for the verification site, I can look at it and give you an informed opinion. I'm unable to find it.

I don't need the verification details. I need the company website if you have it. If not I will see if they are a registered Swiss company.

I find no evidence of any registered company in Switzerland containing the name of Marketrip and frankly, I cannot even find Marketrip School4 Traders on a google search. I'd strongly suggest canceling your debit card and opening a new one. While I can't prove they are fraudulent just by the name, I think it's likely worth a £228 loss to prevent further identity theft.

Xchangely says they are in Estonia. The registry does not confirm that. You tell me it's affiliate is in Switzerland. It isn't there nor is it in Estonia. If it's the same company, why couldn't they just verify you to begin with. I don't like anything about either company.

Cancel the card.

I can't find them anywhere at all. So they appear to be unregistered. They are certainly not authorized in the UK, which is what you really should be most concerned about.

Just keep an eye on your bank account between now and Tuesday.