Ex Sot Review: A Fake German-Based Brokerage Exposed

Ex-Sot claims to be located in Germany, however, the BaFin warning suggests otherwise. They also claim they adhere to regulatory rules and KYC policies. But even at first glance, the scam is evident. Read our Ex Sot review and learn why this broker is not a good option for traders. 

Additionally, to ensure a safer trading environment, read our Nexospro evaluation of another scam brokerage you should be on the lookout for. 

Who Is Ex Sot?

Ex Sot claims that there are years of experience behind them but fails to provide the year they were established. They also claim that they are specialists in leveraged trading, offering you the opportunity to earn financial returns. However, they hide leverage information and the only financial thing you will be getting by trading with Ex-Sot is bankruptcy or debt. 

The information about the company overall is indeed hidden and we didn’t even expect them to be transparent. The Ex Sot scam is visible from a mile away, so be careful if you come across this brokerage. 

Regulation Info

Not only does Ex-Sot operate without a license but they also claim to be registered in Germany. The BaFin warning indicates that the claim is fake, just like the brokerage. To make things even worse, Ex Sot encourages you to download TeamViewer and AnyDesk, which is software that can help them gain access to your computer. 

Reliable brokers won’t ever need to access your personal information and the fact that this broker would, just proves that they are a scam. 

Ex Sot Broker Profile

In addition to the risk of downloading AnyDesk and Teamviewer, the broker’s trading platform raises suspicions. Ex Sot cTrader is probably prone to manipulation, so even if you see that you are earning money, in reality, you are losing it. 

They pride themselves on offering trading conditions like no other broker, such as a 12ms execution time, spreads starting from 0.4 pips, and 300+ trading tools. However, they fail to mention the lack of regulation and transparency that makes trading with them risky. 

Is Ex Sot Safe To Trade With?

If you want to risk losing your investments and never seeing them again, then Ex Sot is a great choice. If not, then we don’t recommend trading with them. There are much better alternatives and instead of wasting your time with brokers like Eurinvesting or Ex-Sot, dedicate it to educating yourself to research for a reliable brokerage. 

If you have been scammed by Ex Sot, don’t despair. Reach out to us immediately and we will get back what is stolen from you. 

How Is the Scam Carried Out?

Traders from Germany, Austria, Ukraine, Romania, and the Netherlands should be careful, as those nations make up the majority of Ex Sot’s clients. The fact that they require traders to download AnyDesk and TeamViewer is concerning. There is no way of knowing what will they do after they gain access to your personal information. 

Not only there is a risk of identity theft but also if they acquire your personal information, they can gain access to your card information and take even more without you realizing it. Reliable brokers will never ask you to download such software so make sure to remember that. 

Deposits and Withdrawal Methods

The payment methods are presented on the broker’s website, however, the processing time of both deposits and withdrawals is unknown. The withdrawal process is not explained, which raises concerns. Accepted payment methods include credit/debit cards, bank transfers, and popular e-wallets like Skrill and Neteller. 

A vital thing to note is that payment options vary, depending on your country of residence so make sure to double-check before investing. However, we do advise not to invest with this scam brokerage if you want to keep your funds safe. 

Weighing the Pros and Cons

Can I Make Money While Trading Online?

If you waste your time on brokers like Ex Sot, making money while trading online will become almost impossible. Trading is already risky as it is and adding an unreliable broker to the equation will increase the risk of losing your money. Here is what you can do instead: 

1. Educate yourself: Make sure you know the trading business and what you want to trade with. If you are not confident in your strategy, it’s pointless trying. 
2. Make a plan: Create a trading strategy or plan before you invest your funds. If you get into trading blindly, it can only result in losing all of your money. 
3. Choose a regulated broker: Do research! Evaluate the broker head-to-toe and check license information. If the broker you want to use is unregulated, consider another one. 

• Use our AI bot: Our AI bot is here to help you out. It uses sophisticated algorithms to evaluate previous prices and chart data, giving you useful information to help you make trade decisions. 

Ready to step into the future of trading? If you are quick and you’re in the first 100 traders that reached out, you can win a 20-day free trial for our AI bot. No commitments. Elevate your trading skills and take the first step toward profitable trading! 

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