ExenMarkets (Exenmarkets.com) is a CFDs and Forex broker scam that’s ready to unleash hell in the trading world. Exen Markets is claiming to offer users the chance to follow and trade with the right Crypto trend. EXENMARKETS is offering users the chance to join the digital asset trading world. Complains have been sent to us by investors who have lost money with this broker. Read this detailed Exen Markets Review.
With claims and promises of offering users 100% welcome bonus, this broker surely puts everything out there. This broker has made a bold move by creating a compelling website that easily entices the eye. Looking at their homepage, it’s easy to believe why this broker has managed to rob so many investors. Most newbie investors have fallen for the cheap theatrics posted on this homepage. Here, we will reveal all the dirty tricks used by this broker.
Claims and promises are a major selling point for most scam brokers. Most of the time, they use over the moon claims and promises to lure investors into signing up. Claims of having all assets needed for quality trading are some of the empty promises with this broker. Free lessons and videos are educational claims that users are promised. Make sure you read this entire review and find out every dirty secret with this broker. There’s more than meets the eye.
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According to the disclaimer at the footer of the homepage, there are no details regarding ownership. Posted is registration details which claims this broker is located in London. It should be noted that scammers will do or say anything to get their products and services seem legit. Exen Markets is no different as they will easily use fake credentials to try and insinuate they are EU Based. Read this entire review as we will expose why this broker maybe offshore based.
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Problem with ExenMarkets is the fact that we don’t know who exactly runs this brokerage firm. Who is the CEO or CFO of Exen Markets? It’s possible that this brokerage firm is being run as a front to finance the next terrorist activity. Make sure to stay away from brokers who are anonymous in nature. With this broker, we don’t know who is actually running the website. This broker is trying to imitate Exen Capital LLC Company, beware!
To be totally clear, ExenMarkets is not licensed or regulated by any regulatory body that we k now of. This can be proven by the fact that the FCA has no details regarding this broker. Looking at the FCA homepage, it does not have any results with Exen Markets name on it. This means that this broker is unauthorized to conduct any Forex business on behalf of Forex brokers. Stay away from this reckless broker who simply wants investors to deposit funds with them.
A real brokerage firm will post their registration details for all to see. Why hasn’t this broker failed to issue any documents to prove registration? It’s clear that we are dealing with a rogue broker who clearly has bad intent.
This broker claims to have the next generation trading platform. According to the details listed, this platform requires no download, has fast withdrawals and offers high payouts. This broker claims to offer a platform that handles low minimum orders. In order to test their platform, we had to sign up and trade with their platform. And this is where we faced our next red flag, a platform that’s totally unstable. This spells doom for any trader using their platform.
An unstable platform is bad news for any user since it leaves them vulnerable to attacks. Hackers will easily penetrate through unstable platform and gain access to sensitive material. Credit card information and personal data is what hackers go after in unstable platforms. Once these hackers have this information, they will order goods and services with your credit card. Next time you check your bank account, the amount will be zero thanks to anonymous online purchase.
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ExenMarkets is offering investors five different account types to choose from. These accounts are Start, Standard, Gold, Platinum, and VIP. Minimum acceptable deposit to start trading is $250, $5,000, $50,000, and $100,000. These accounts have access to over 160 trading assets and come with basic education and account manager.
What we noticed with these accounts is that they have the same perks with no mention-able differences. Gold and Platinum account holders are issued with trading strategy which is the only visible difference. It begs the question, why deposit $50,000 and get the same features as a person who deposits $5,000? Clearly, this broker did not think it through when they opened these accounts. Stay away from brokers who have accounts that have no clear advantages.
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If you haven’t noticed, this broker keeps vital information from users. Which EU banking institutions do they use to bank money deposited by investors? Lack of this vital information makes us question everything regarding this broker. It’s highly possible that investors are depositing money straight to the owner’s personal bank account.
When it comes to segregation of accounts, this is surely not the case with this broker. What this means is that ExenMarkets is pooling funds in one account, which is extremely dangerous. That’s not all, in case of bankruptcy or insolvency; this broker will lose all funds at once. And don’t expect any compensation as this broker does not participate in a compensatory scheme. It makes signing up with this broker a futile trading experience.
When it comes to claims of having 24/7 support, it’s all a lie. This broker has a major flaw in not offering live chat support. How do they expect users to contact them with matters that need quick solutions? Sending emails will not help as they take long to respond. What this means is that this broker simply wants to remain anonymous. Anonymity is a dangerous character to associate with in any online investment platform. Stay away from anonymous brokers.
Without a shadow of doubt, ExenMarkets is a Scam that must be exposed. Make sure to mark all their emails as Spam and never click on any links sent by them. Hackers are using these links to steal personal data from users’ computers. Warn your friends and relatives from joining this broker or their affiliate programs.
After having gone through the evidence on our hands, we must flag this broker as a certified scam. Adding this broker to our blacklist is what we should do to ensure newbie traders are kept safe. By doing this, we hope that relevant authorities will investigate this platform and shut their operation down. This will greatly protect newbies and Forex investors from falling into this shitty Forex scam.
Sign up with Industry tested and trusted Forex brokers at all times. Make sure to get the best out of Forex trading by having reliable and reputable Forex brokers. Accountable and Honest Forex brokers will guarantee your safety when trading Forex. This is a sure way of making money with Forex trading.
Lastly, we wish you all the best in your Forex trading experience.
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