XPO Markets Review: Investigating a INR 3,100-Crore Scam and Other Irregularities

XPO Markets, a Comoros-based brokerage entity, is in the news for negative reasons. These include the alleged INR 3,100 crore fund scam complaint filed by 3 lakh Indians in November 2025. Such a scam puts a serious question mark on the authenticity of this forex broker. In this XPO Markets review article, we have highlighted the million-dollar scam along with the risk parameters associated with this broker.

The INR 3,100 Crore Fund Scam Report

According to news reports, XPO.ru, also promoted through names such as XPO, Xeno Portfolio and XPO trading app, was alleged to be involved in an investment scam to the tune of INR 3,100 crore in Rajasthan, India. According to the numerous complaints filed by investors, the app promises daily profits, guaranteed returns and referral income for users. Several investors claimed that profits on the XPO trading app did not come through trading but from fresh deposits made by new members. As traders requested large withdrawals, cases of account freezes and extra payment demands grew, according to the complaints.

The news reports term XPO as a Ponzi scheme that runs on unverified licenses, fake profits on dashboards, increased dependency on referrals, blocked withdrawals, no registration with SEBI/RBI, no visible market trading activity, and hidden ownership.

How Did XPO.ru Manage to Scam Investors?

XPO Markets allegedly robbed investors by having a website that looked classy, offering a myriad of trading instruments, such as forex, CFDs, index funds and crypto, along with AI-powered trading. Using this, the broker managed to gain the confidence of investors.

An Indian User Claim on Bad Customer Service Experience

Moving on, an Indian user, a month earlier to the uncovering of the INR 3,100 crore scam, reported a slow process with XPO Markets, terming its customer service experience as bad. Although the complaint did not make further revelations, it did not indicate anything positive about the brokerage firm. Check out the traders claim in this screenshot.

What Does XPO Markets Claim on its Official Website About Trading Conditions?

XPO Markets claims to have a 100K+ clientele base globally (45+countries) having invested over 40 million into the platform. As per the website, the broker seems to be a full-fledged trading company offering investment opportunities across forex, share CFDs, crypto CFDs, energies, spot metals and commodities. On the account type front, the brokerage entity offers Xeno Account and IB Account. The following are the features of these accounts.

While these trading details seem impressive, the lack of transparency on the minimum deposit, leverage, commissions and margin requirements pose a question mark over its authenticity. Legitimate entities make every information accessible to their existing and prospective clients.

XPO Markets‘ License Claims

The website states that Xeno Portfolio Ltd is registered by the MWALI INTERNATIONAL SERVICES AUTHORITY under the INTERNATIONAL BUSINESS COMPANIES ACT 2014 and BROKERAGE ACT 2013. The company’s registration and license numbers have been HA00324749 and BFX2024055, with the office being at Bonovo Road-Fomboni, Island of Moheli-Comoros Union. This is anyway an offshore regulation that does not protect investors much in the case of fraud.

Is XPO Markets Regulated? Read This WikiFX Review

Yes, the WikiFX team confirms that XPO Markets is offshore regulated. Reiterating the point made earlier, the investment risks are immense for traders trusting this platform for wealth creation. Keeping this in mind, the score for the broker remains just 2.97 out of 10. Lets break the score into different parameters.

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