XPO Exposure: Investigating an Infamous Scam Allegation Worth Over $420 Million

XPO, a Belize-based multi-asset broker, has been in the news lately for the wrong reasons. These include the infamous allegations from 450K people towards the end of 2025 in India. The collective siphoned amount goes up to $420 million. According to news reports, the trading platform is still active, making it extremely important for traders to adopt extreme caution. The reviews shared by the users on WikiFX are not encouraging either. We have covered the perils associated with this brokerage entity holistically in this XPO review article. We will approach by outlining the company details before sharing the user allegations. Lets begin!

What Does XPO Reveal on Its Official Website?

Although the company‘s website looks dummy, it still reveals its identity as a forex, CFD, cryptocurrency and mutual fund broker. Here’s a list of important details shared on the website.

• Active Client Count - 4,929,371
• Total Funds Traded - $4,444,298,811
• Partners Earned - $2,472,390,679

Additionally, the company shares the details of index managers, including the assets handled and the performance delivered by them.

The Story of $420 Million Crypto Racket

According to news reports, XPO.RU emerged in a large investment racket in Rajasthan, India. The platform was reported to have been operating through a website and mobile. Further, it was promoted as a channel to bring investments from overseas. The report further revealed the various seminars held by XPO and their referral commission offerings to lure investors.

According to the local police, around 450K people across India allegedly lost approximately $420 million through the investment scam. In Jodhpur itself, approximately 10,000 people invested around $18.

In one of the seminars held on September 22, 2025, in Jhalamund, the company associates promised participants a commission of 10% for adding new investors. The company also promised monthly returns of 15-20%, prompting people to acquire loans from banks and their family members with the hope of earning higher than the conventional loan interest payable of 1-2% monthly.

During the seminar, the associates reportedly gifted BMWs, Range Rovers and Mercedes during the events. According to the report, some investors were even given foreign trips.

The Police Crackdown on the XPO Racket

The scam came to light following the filing of the complaint in Bharatpur. Later, the police arrested five associates of the reported scam operation, along with seizing jewellery, five cars and cryptocurrency worth $4.8 million. However, until now, investors have not been able to recover their lost funds on the XPO platform.

Fund Withdrawal Complaints Against XPO

Some negative XPO reviews have emerged on the WikiFX platform. Two Indian traders have complained about the lack of withdrawal access while urging others to stay away from investing in this platform. Here are the complaint screenshots.

Some Positive Feedback for XPO

Some users stated that XPO delivered on the promise of withdrawals, elevating their experiences with the broker.

XPO Review by WikiFX: Is it Regulated?

The investor sentiment for XPO, especially in India, is highly negative based on the $420 million scam unfolded by the Police. The regulatory findings also indicate the possibility of investment scams. Yes, the broker is found to have a questionable forex trading license. So, even though XPO scored a reasonable score of 6.27 out of 10 on business, it gained nothing on the license, which is critical to ensuring positivity among prospective traders. With the overall score being a poor 1.47 out of 10, the brokerage firm does not merit investments by users.

Always be on the right side of your investments. Be safe by trusting the broker that comes under the purview of a top-tier regulatory authority such as the Financial Conduct Authority (FCA), the Australian Securities & Investments Commission (ASIC), or the Cyprus Securities & Exchange Commission (CySec). Do all these analyses effectively on the WikiFX app, your one-stop destination to a rewarding investment journey. Download now by scanning this QR code.