Exo Trade Capital Review: Learn About this Broker
Exo Trade Capital Review, Learning about this broker has proven to be exceedingly difficult as they are a prime example of what it means to be an anonymous broker.
Exo Trade Capital has no listed address nor a listed phone number on its website. The only way they have made it possible to reach them is via email address.
To add to the already lengthy list of red flags displayed by this scam broker, the regulatory information available on their website has also been proven to be completely fabricated.
Our recommendation is to stay as far away from this brokerage as possible, as well as any other that even remotely looks like this. With this investment firm, the only guarantee is that they will run off with your money as soon as you make a deposit.
Exo Trade Capital Quick Overview
Below you can find a quick overview of some of the sparse information that is available about this broker. As you can see despite their claims to be regulated by certain regulatory bodies they have no regulation.
Another alarming fact is that they do not have a listed address for their headquarters.
Traders should immediately turn away from any brokerage with a level of transparency that is this dismal.
On the practical trading side of things, the only available information is that the minimum deposit is $300, with no mention of a platform, spread, or maximum leverage.
Basically, any information, that could in some way be useful in the decision-making process, is not made available by Exo Trade Capital.
Regulation and Security at Exo Trade Capital
Exo Trade Capital claims to be governed by Danish law and licensed by the 100% fictitious regulatory agency called the GSE. They also provide a forged certificate in an attempt to get potential victims to believe that they are a legitimate company based in the states.
This should be enough of a warning to anyone considering depositing any amount of money with this broker. However, they go on to claim that the certificate is issued by the Securities and Exchange Commission (SEC), something the SEC has absolutely nothing to do with.
Why Is it Risky to Trade with Offshore Brokers?
Offshore brokers are dangerous due to the fact that they are not regulated. This means that there is no agency that looks out for the rights of the traders that these brokers serve, allowing scam brokers such as Exo Trade Capital to get away with pretty much anything.
From requiring deposits in untraceable cryptocurrency to making a withdrawal quite literally impossible. These scam brokers actually have one purpose and that is to separate traders from their funds.
With regulated brokers, there are plenty of ways to solve any issue that may come up. This is simply not the case with offshore brokers, they are set up in a way that there is little to nothing that can be done to resolve the issues intentionally created by these investment scams.
Offshore Brokers Scam Tricks
A majority of offshore/unregulated brokers follow the same blueprint in terms of the investment scam that they run. The first step is the acquisition of potential victims via social media ad campaigns. These campaigns offer a get-rich-quick scheme in exchange for your email or another form of contact.
Once they have this, scam brokers hound their victims with increasingly tempting offers with the sole goal of getting that minimum deposit.
Once the victim makes a deposit the scammers are pretty much done and there is little to nothing that can be done to get the money back outside of the cases where victims pay via credit card or wire transfer.
Some brokers go as far as making legitimate trading platforms but setting such high minimum trade volumes as a condition for a withdrawal that withdrawing money becomes literally impossible.
False Profit and a 20% Withdrawal Charge
In this case, what scammers do are manipulate the trading software to give victims the idea that they’ve made huge profits with their investments.
Once a client/victim tries to make a withdrawal, the scammers ask for an upfront withdrawal fee in an attempt to get even more money out of their victims.
These upfront fees can be as high as 20% of the total supposed profits the victim has made. This puts victims in the tough spot of thinking that they have a large sum of money coming their way once they pay 20% of this sum.
Available Trading Platform at Exo Trade Capital
This broker does what a lot of scam brokers do and that is lying about offering an industry trading platform when the reality is that they do not offer a functional trading platform at all. Exo Trade Capital claims that they offer the industry standard MetaTrader 5. We verified that this is not only a lie, but that this broker does not provide a platform that allows trading at all.
This, more than anything, is clear proof that the broker’s only functional purpose is accepting deposits from their victims.
If you are still interested in trading, it is worth mentioning that MetaTrader5 is a legitimate trading platform with lots of benefits.
This platform allows a great degree of customization. It’s great for novice and pro traders alike as it allows everyone at every level to tailor their trading platform to their needs and their personal trading style.
Aside from customization, MetaTrader5 is also packed with pretty much any feature that could aid a trader in making quality decisions.
Deposit and Withdrawal Options at Exo Trade Capital
Even if one ignores all of the red flags on full display it is impossible to ignore the fact that Exo Trade Capital only accepts deposits in cryptocurrency.
This means that if you deposit the funds, there is no way to prove to who the deposit was made, nor is there a way for victims to get their money back due to the anonymity provided by crypto payments.
Always be cautious of brokers that nudge you towards making payments via cryptocurrency.
In terms of withdrawing your funds, this broker applies a series of hidden fees so that actually making a withdrawal becomes impossible.
For example, once you create an account there is a $59 fee applied, when you make a positive trade a “performance fee” of 15% is applied. This makes it clear that this broker is in no rush to allow its traders to make a withdrawal.
The Best Forex Brokers
In case you are looking for a legitimate brokerage that is regulated and provides healthy trading conditions we suggest that you take a look at the brokers listed below. It can be hard to find a legitimate broker that meets your needs as a trader.
This is why we have made this list and reviews for each of these investment firms. From trading platforms to maximum leverages and minimum deposits each one has its own benefits and drawbacks, the thing they all share is the fact that they are all well-regulated.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$25||OctaFX.Com|
|FP MarketsBroker||Australia, Cyprus||4.7||$100 AUD||FpMarkets.Com|
|XM Broker||Cyprus, Australia, Belize||4.7||$5||XM.com|
|HFM HF Markets Broker||Cyprus, UK, UAE, South Africa, Kenya||4.3||$5||Hfm.Com|
|FBS Broker||Belize, Cyprus||4.85||$1||FBS.Com|
Exo Trade Capital Summary
Exo Trade Capital is pretty much the definition of an investment scam and a fairly lazy one at that. Writing a review for Exo Trade Capital has been made additionally difficult by the fact that the broker does not provide even the most basic information.
Those looking to make investments should look elsewhere as this broker does not even provide a platform that makes making investments and trades possible.
To top it all off, the brokerage only accepts deposits in cryptocurrency, ensuring that once you’ve made a payment there is nothing you could do to get that money back.
All in all, this Exo Trade Capital review serves as a warning to all traders to steer clear of this broker and those that exhibit similar signs.
FAQs About Exo Trade Capital Broker
Can You Make Money with Exo Trade Capital?
Absolutely not. This is an investment scam selling the idea of a get-rich scheme while not even providing a functional trading platform.
How Do I Withdraw my Earnings at Exo Trade Capital?
This is pretty much impossible as the broker has a variety of fees that they apply that quickly whittle down the amount of money that you could even hypothetically withdraw.
Is Exo Trade Capital Regulated?
Exo Trade Capital is an investment scam that claims to be licensed and regulated by the SEC, this of course is not true as this is not even something the SEC does.