XTX Markets warns of fraudulent groups targeting retail investors

Rick Steves

“If you are contacted by anyone offering or selling trading or cryptocurrency services purporting to be acting on behalf of, or in any way connected to, XTX, then please be aware that these people do not represent XTX in any way.”

XTX Markets

XTX Markets, the London-based algorithmic trading company founded by Alexander Gerko in 2015, has warned clients that there are fraudulent Telegram groups claiming to be associated with XTX Markets and/or illegally using the XTX Markets logo.

The quantitative-driven electronic liquidity provider partners with counterparties, exchanges, and e-trading venues globally to provide liquidity in the equity, foreign exchange, fixed income, and commodity markets.

XTX is one of the largest FX spot liquidity providers in the world and handles $295 billion in daily trading volumes. The fraudulent Telegram groups pose a threat for the business and many FX industry participants who risk losing funds to criminals, hence the warning.

XTX Markets does not market to retail investors in any way

“XTX Markets does not have a Telegram account and has no affiliation or business relationship of any kind with these groups or profiles”, said the official statement.

“XTX Markets does not offer any services to, or take deposits from, retail investors. It also does not market to retail investors in any way, including through any social media channels. The only website operated by XTX Markets is our official website: www.xtxmarkets.com which also lists our official social media channels. Any other websites or social media accounts purporting to be associated with XTX Markets are fraudulent.

“If you are contacted by anyone offering or selling trading or cryptocurrency services purporting to be acting on behalf of, or in any way connected to, XTX, then please be aware that these people do not represent XTX in any way. If you believe you have been the victim of a fraud, please contact your local authorities.

“XTX will take all necessary legal action in order to protect its intellectual property and reputation, including reporting fraudulent persons to the appropriate authorities.”

The FX industry giant partners with institutional clients, counterparties and trading venues globally to deliver liquidity in the Equity, FX, Fixed Income, and Commodity markets. The firm does not offer products/services to retail investor clients.

XTX Markets boasts a team of more than 160 clients and is reportedly the third largest FX liquidity provider globally, with over 13% pan-European lit cash equities market share. It is also the largest European ELP Systematic Internaliser by volume.

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