ExenFX (Exenfx.com) is a CFDs and Forex scam to hit the lucrative Forex world. Exen FX is purporting to offer high speed services that maximize profits. Anyone interested in joining EXENFX should be aware this is a Forex scam. Claims of offering fast rewards are just a ploy to lure users into signing up. That’s why we decided to investigate this broker. Read this ExenFX review and get the truth.
What these scammers have done is create a website that easily lures newbie traders. Just by looking at their homepage, one would easily believe that Exen FX is real. There’s more than meets the eye with ExenFX. Find out more regarding the scam that is behind their homepage. Factual and unbiased review is what you should expect.
Claims and promises are what make scammers trap unsuspecting Forex investors. ExenFX is claiming that they give users the chance to choose the trend they want. Users are promised to join the largest trading market in the world. With claims of having a user friendly interfaces and top indicators and graphic tools, we had to investigate. Promise that this platform offers trading at a speed of light are all lies.
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A disturbing feature with this broker is the fact that there are no details regarding the owner. Bottom of the page states that address is listed in Podgorica, Montenegro. To begin with, we cannot just believe what this broker posts on their website. Why have they failed to mention even a single member of this platform? It’s clear we are dealing with an anonymous broker which is bad news for any trader.
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An anonymous broker will do or say anything to try and get their products appear legit. This level of anonymity is scary in that we don’t know who is running the show. Claiming to be based in Montenegro is a plot to make the platform appear Europe based. Who is the CEO or CFO of this brokerage site? No one knows details concerning the founding members of this broker. Stay away from online investment platforms that are anonymous.
A broker who has not listed their whereabouts is not licensed or regulated. Where is their licensing number? With a legit Forex broker, you would expect them to post their licensing number. This is done alongside the regulatory body that issued the licensing number. With Exen FX, this is not the case.
Where are their registration credentials to prove that they have been regulated by financial authorities? A real broker would have easily posted their registration details for all to see. Where are their copies of certificates and registration documents? This is proof that we are dealing with a scam broker. Lack of these crucial documents means traders should stay away from this Forex scam.
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Another disturbing detail with this broker is the fact that they have a rigged demo account. Once you sign up with a demo account, you will realize that trades are over 90 successful. These scammers are doing this on purpose; they want to deceive users into believing they can make money. With this in mind, traders will want to open a real account with Exen FX.
Users are led to believe that they can mirror the same results with a real account. Next thing they do is open a real account with these fraudsters. Trade results are far different and most traders end up losing all their deposits. Remember that all what these scammers want is to enrich themselves with your money. Stay away from EXENFX.
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This is another disturbing detail with this broker, there’s no chat support. How do they expect users to contact them, through email? Make sure to never sign up with a broker who cannot be contacted easily. This is proof that we are dealing with a broker who wants to remain anonymous. Anonymity is a dangerous trait to have as a broker.
With claims of lightning fast executions and reliable infrastructure, lack of live chat is wanting. Dashboard at the bottom right hand side of their website is what they expect users to use. Once you click on it, you get an instant message that they are offline. In the entire time we conducted the review, at no time did they come online. It means that we are dealing with brokers who are harvesting information via emails.
All investors should know that funds are never safe with an anonymous broker. Have you noticed that there’s no information regarding who their banking partner is? Where do they bank money deposited by investors? Did you know that members could be depositing money straight to owner’s personal bank account? That’s concrete reason not to sign up with this broker.
There’s more when it comes to security of funds, segregation of accounts is not done here. It means that this broker is pooling funds in one account which is dangerous. In case of bankruptcy or insolvency, this broker will lose your money. Don’t expect to be compensated; Exen FX does not participate in a compensation scheme. Once you deposit money with ExenFX, that’s the last time you hear or see of it.
Another disturbing detail with this broker is the fake promotional claims. Bring your friend bonus is one promotional material with this broker. In fact, you are promises 20% bonus by helping to sign up a friend. What you should know is that this is illegal and you are liable. In case your friend loses money, which they will, you are an accomplice to online fraud.
Margin backed initial investment offer is another promotional material with this platform. A reward of 30% bonus is issued to investors who choose this promotional method. Note that these scammers want you to believe that you can make money with their platform. With more deposits, this broker will close shop without warning.
Concrete evidence clearly shows that we are dealing with a professional Forex scam outfit. Make sure to mark all their emails as Spam and never click on any links. Warn your friends and relatives from signing up with this broker in order to remain safe. Never sign up with Exen FX unless you want to lose money.
Only option left is to add ExenFX to our scam blacklist. This is the only way to help ensure that newbie traders are safe from this scam. Stay away from Exen FX and warn your friends from signing up with this bogus platform.
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Finally, we wish you all the best in your future trading experience.
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