Is Xasic.io A Good Broker or a Scam?
Xasic.io says it provides cloud mining, but it isn’t regulated and has been flagged as a suspected Ponzi scheme. In addition to not having a license, Xasic.io can arouse suspicion because it offers a 99% return, which is an astounding amount. Far from being impressive, these kinds of numbers are definitely created for would-be traders who don’t have a concept of expected returns from investing–which are closer to 5-7% annually.
We Have Some Concerns with Xasic.io
There is some indication that Xasic.io is a Ponzi scheme. This type of fraud happens when money put into accounts is used to fund withdrawals by other clients. In short-no real trading is going on at all, but money just keeps getting churned in and out of accounts. When the fake broker can’t pay out the withdrawals, they may simply disappear with the money. We recommend staying away from Xasic.io, since they don’t seem legitimate.
Xasic.io Red Flags
- No license
- False guarantees
- Suspected Ponzi scheme
- No transparency
- Negative reviews
Lost Money to Xasic.io? Talk to Us!
ReportScamOnline experts understand brokers–reliable ones and scam operations. We have researched brokers and have created these reviews to help consumers make the right choice for trading. We recommend that you avoid Xasic.io and instead find a reliable and licensed broker. If you have lost money to this broker, contact us and we will launch an investigation that will bolster your claim.