What Is Xforex?

Hi please tell why xforex need so much personal detail?

Does any one knows why do xforex need a copy of driving license or passport an utility bill and credit card I'm not sure is it safe to give them all personal details. has anyone been cheated?

Hello Marius,
All these documents are required in order to assure the security of all traders at Xforex. This is our way of verifying that your details at Xforex match those on the documents provided. These measures are in strict compliance with the international laws of anti-money laundering. Please note that without the required documents we are not legally permitted to transfer or withdraw any funds in or out of your account.
XForex Customer Support Team

Is it really needed to give out all my credit card details including the CVV when trading in Xforex?

The Xforex system asked me to give out my 16-digit credit card number, card holder name, expiry date, and the 3-digit security code. At first, the broker told me to give my LAST FOUR digit card number only. But when I was about to enter the details, he shifted it to another story to give the whole 16-digit credit card number plus the CVV. He said it's ok to do that because he would NOT be able to see the details I enter into the system. I have questions that need to be answered: 1. Is it really needed to include the 16-digit card number and the 3-digit CVV? Isn't it enough to give the last four digits only? 2. Has anyone here tried trading in Xforex? Did it asked you to give 16-digit card plus the 3-digit CVV also? *** I'm willing to give the CVV if I enter the last four digit card only. The broker assisting me said he can't view the whole 16-digit card number, but only the last 4 numbers. He sounds trustworthy and I ALMOST gave in. Please answer about Xforex only. PLEASE ANSWER ABOUT XFOREX ONLY. WHAT DETAILS DID YOU GIVE TO TRADE IN THIS COMPANY? THANK YOU, GOD BLESS TO THOSE WHO WILL ANSWER, AND HAPPY HOLIDAYS!!!

Investors who trade stocks, futures or options typically use a broker, who acts as an agent in the transaction. The broker takes the order to an exchange and attempts to execute it as per the customer's instructions. For providing this service, the broker is paid a commission when the customer buys and sells the trad able instrument. (For further reading, see our Brokers And Online Trading tutorial.)

The FX market does not have commissions. Unlike exchange-based markets, FX is a principals-only market. FX firms are dealers, not brokers. This is a critical distinction that all investors must understand. Unlike brokers, dealers assume market risk by serving as a counterparty to the investor's trade. They do not charge commission; instead, they make their money through the bid-ask spread.

When trading in xforex, do I really have to give out all my credit card details including the CVV?

I was asked by the guy and the system itself to give out my 16-digit credit card number, card holder name, expiry date, and the 3-digit security code. Isn't this dangerous? I mean I used to buy stuff in the net but this time, why should I give out all details including CVV?

Good lord. Are you really falling for this SCAM?
Are you this naive?

There really is a sucker born every single minute.
Know that forex is basically a scam, so are binary options.
And they want your credit card info to top this off?

Amazing you are falling for this.
You need to shut your computer off and never touch it again if you are this naive.

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