It is evident that Xmtoro misuses the company information and licensing details of a genuine company, ETORO AUS CAPITAL LIMITED, to appear legitimate. The website for Xmtoro was recently registered in April 2024, which is also a potential warning sign.
In addition, the Italian Companies and Exchange Commission (CONSOB) has ordered Xmtoro’s website to be blacked out since it offers financial services illegally in Italy.
In essence, Xmtoro is not regulated by any governing body. Entrusting it with investors’ funds is highly risky, as there are no legal protections in place to safeguard the funds.
Xmtoro appears to be a scam.
