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247Exness Review: A Clone Offshore Broker

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247Exness Review: A Clone Offshore Broker

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By claiming to have a license from CySEC, 247Exness is hoping to attract European investors. After searching for their records with CySEC, we found that their license number doesn’t exist. The company with the license number 216/13 openly refutes any association with the broker. 247 Exness claims to be a globally regulated broker but has no shred of evidence to support it. Our investigations into the platform revealed some disturbing features. Learn the whole truth in our clear 247EXNESS Review.

247Exness Review

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247Exness License and Registration

One of the biggest issues we have with the broker is falsifying license status. The broker has no valid license from CySEC or any other regulator. If they did, their details would match the records of the very same regulators.

247 Exness stands accused of using false information to defraud investors. Our evidence will prove that the platform is guilty on all accounts. We urge investors to shun the broker and block any contact.

There are no certificates or documents to prove that the broker is legit. We did a quick check with CMB, CySEC, FCA, and KNF to clarify the status. None of these regulators have heard of this brokerage firm.

We are sure that the broker didn’t count on us to confirm regulation with official regulators. This is why we urge our readers in all our reviews to do due diligence. If you want a broker investigated, let us know, and we will oblige.

Analysis of 247Exness

The pillars found on their about us page would make anyone sign up with the platform. The broker claims to put clients first since 1986. What investors don’t know is that the broker is a clone.

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They are trying to use the Exness name to gain ground with naïve and inexperienced traders. The broker wants to associate themselves with a grounded broker with proven experience. We won’t allow it as the platform is openly blocking withdrawals.

Reinvented trading wheels is the tagline the broker uses to entice clients. There’s a Bitcoin picture on the homepage, which is expected with today’s modern broker. With Crypto becoming ever popular, scam brokers are taking advantage of naïve investors.

247 Exness is no different as they fool investors into depositing large sums. Members deposit funds hoping to get a piece of crypto assets pie.

Assets and trading instruments

There are four classes of trading assets available on the platform. These include commodities, crypto, forex, and indices. The broker also claims to offer VPS services to clients. This is where we also caught another mistake on their platform.

The disclaimer at the footer of their homepage mentions SpreadBTC. This is another concrete proof that the website used to go by the name Spread BTC.

Becoming a member

comments from victims 247exness.com (user experience)

We tried opening an account with the platform to get a read of what users go through. Shockingly, the broker asks for bank statement records and copies of ID for verification. There’s no need to send this valuable information to an unknown trading platform.

To verify a trading account, the broker can send an email with a link or SMS Code. We suspect 247Exness is harvesting banking information from wealthy investors.

Custodian of the platform

The broker claims a group of like-minded professionals founded the platform. These professionals were dealing in the area of finance and technology. It’s a shame that the website fails to mention even a single name.

That’s because there’s no such thing, and all this is false information. The entire website is operated by offshore brokers trying to penetrate the European trading zone.

Domain background (247exness.com review)

As we were publishing this post, the website was 468 days old. The exact date the platform went live was on January 01, 2020. It seems that the registrant’s name is redacted for privacy reasons. You would expect the broker to show his name if the platform is as legit as they claim.

No scam artist wants their name on the evening news. It also shows that claims of being a reputable broker are false.

Experience from victims

There are dozens of members all facing the same issue with this broker. The broker fails to respond to their cries of releasing funds. Before depositing, the broker will bombard you with phone calls urging you to deposit funds.

Once you do so, the broker is no longer available. Contacting them is next to impossible, and the broker goes ahead and blocks withdrawal. It’s what members of 247 Exness are facing today.

Features of 247Exness

Account details

247Exness Account Types

247Exness offers three types of accounts to investors. These accounts include Bronze Lite, Silver Lite, and Gold Lite. The minimum deposit for the Bronze Lite is $300, which is $50 more than the recommended amount.

CySEC wouldn’t have offered a trading license with the broker openly hiking the minimum deposit amount. The broker has failed in the quest to produce a competitive account tier for members.

Contact and support

Instead of having a real live chat tab, the broker offers a message tab. You have to send your email address and mail over the chat tab. We were expecting to find a live agent to ease communication.

Today’s crypto broker will try their best to avail support within minutes. The fact that the broker’s phone number doesn’t go through says a lot. You get a bot that uses a menu to answer queries.

Deposit and withdrawal

There’s no deposit or withdrawal information on the homepage. From what the victims claim, the broker reaches out with a bank account. You deposit funds to this bank account, and the money reflects in your trading account.

That’s highly suspicious as the broker should be open on the depository option. Withdrawing funds with this platform remains the biggest hurdle facing members.

Trading Platform

The broker claims to offer an MT4 trading terminal on their website. This is all good except that it’s of no use to members. If you can’t withdraw funds from the platform, there’s nothing to look forward to.

When you find the right broker, we recommend using MT4, MT5, and SIRIX trading terminals. These trading forums offer advanced tools and come with a user-friendly interface.

Scam or Legit 247Exness

247 Exness License and Registration Status

247Exness is a scam waiting to pounce on naïve investors. We hope our review will open your eyes and stop you from signing up. You can see from the above facts that this is another ridiculous trading platform.

The creators want to fool investors by associating themselves with Exness. Please stay away from the platform or risk becoming another victim.

Final remarks

We won’t recommend a broker using false regulatory information. The broker is fooling investors, and we hope authorities put an end to this charade. Signing up with the broker is the last thing you want as an investor.

Make the bold move today and sign up with reliable experts who have your back. It’s the best way to trade and enjoy earning reasonable profit margins.

Our team wishes everyone all the best in their trading endeavors.

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