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ExoBit is a company that is allegedly using technology in its trading activities. The firm claims that its focus is the satisfaction of traders. If you are tempted to join this venture, it is best to hold that thought. They are not licensed and the customer support team is terrible.
ExoBit is a company that is allegedly using technology in its trading activities. The firm claims that its focus is the satisfaction of traders. If you are tempted to join this venture, it is best to hold that thought.
In this unbiased review, we shall shed light regarding this platform. The firm is also offering education to its customers. The entity states that it is secure, but you should not trust it easily. ExoBiti is offering several investment services. These include; forex, stocks, indices, crypto, and commodities assets. The venture allegedly has the best trading opportunities for investors.
They do not charge commission. Moreover, the firm also states it has MT4 software. The main problem with this firm is operating illegitimately. A company that has nothing to hide avail all the necessary information that can clear out their name.
In the meantime, you can check out some of the best forex trading firms in the market. You will earn passive income in a genuine way. These are some of the leading brokers with trading history.
Companies like ExoBit easy target is the novice investors. This is because expert traders can smell a mile away scam. The reallocation of this entity is unknown. The entity should not be trusted since it lacks transparency.
Traders who join the broker with the hope of making profits will suffer losses. The platform brags it has 35 years of experience. However, this is another big lie. The entity was established in August 2020.
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ExoBit is a venture that tries to stay relevant in the market. They exploit investors and go about with their business as if nothing happened. The entity claims that traders can use any available gadget to trade.
The venture performs research and avail trading charts. Hence, investors can execute a trade with ease. The entity state they have over 85% cryptos. You need to register, verify your account by availing of the necessary documents.
However, you should not send any of your credentials to suspicious anonymous individuals. This is because they can sell your info. Identity theft is a dangerous crime. Avoid all this by staying away from ExoBit.
The company lies that it has an MT4. Once you register, the only thing you will have is a web-based interface. The platform lies to get more clients. They provide a spread of 0.1 pips for the EURUSD currency pair.
ExoBit offers leverage of 1:100 as the minimum cap and 1:400 for the experienced traders. You will be exposed to severe risks if you take this offer. You may lose all your savings in a matter of seconds.
Withdrawal and Deposits
The company is accepting funds via fiat currency and crypto. You can cash in via BTC, RTH, or USDT. The minimum amount to deposit in this broker is $250. Their deposit methods limit traders from issuing a chargeback.
ExoBit allows investors to cash out at least $50 if they are using Visa or MasterCard. For wire transfers, the minimum withdrawal amount is $100. There are fees that you must pay. However, the venture quotes them in cryptocurrency.
It is a common feature with scammers. The firm is charging a fee of 5%. Percentage form charges are to exploit investors. The company also offers bonuses to its customers.
If you do not meet their trading volume, then you cannot cash out the credit tokens. Moreover, there is also a 10% for withdrawal. Read the terms and conditions of ExoBit to know what you are signing up for.
The duration that an account becomes dormant is short. If you have not engaged with trading activities for 60 days, you must pay 100USD or a 10% fee. The company is exploiting investors, and based on their charges; you can tell that this is not an ideal firm.
ExoBit Regulation and Registration
ExoBit does not have a license. SwellTech LLC is the corporate that manages the operation of this broker. The location of the platform is in Riga, Latvia. Unfortunately, entrusting your money to this firm will only lead to disappointments.
Since Latvia is a member of the EU, the company must comply with the rules set aside. Sadly, they do not. The leverage that the venture is offering is high. It is usually capped at 1:30.
ExoBit does not have a license from any country in the world. The law requires that an entity deposit 730K EUR in their name. The money is used to compensate investors if the firm might face insolvency.
Additionally, funds are segregated into separate accounts. Ponzi schemes exit the industry after collecting money from multiple investors. Once they realize nobody is buying their narrative, the firm collapses.
However, this does not mean that they will not come back. Con artists are nasty and tactical. Ensure that you trade with regulated brokers as the benefits that come with it are huge.
Customer Support and Contact Details
The company has a phone number with the UK and Australian phone numbers. The actual location of this firm remains unknown. They are a dirty scheme that you won’t trace. If you invest with them, it will be at your own risk.
It is clear that this is an offshore venture. They usually do have terrible customer support service. Instead of experiencing unethical treatment once things go south, we recommend you try out these licensed firms.
Fraudsters stop responding immediately. They get hands at investors’ funds. Your calls will be declined, and sometimes, the phone number will not go through. The company does not care about the experience that you will get.
ExoBit False Reviews
The company, despite being fraudulent, has a number of positive reviews in TrustPilot. The information suggests that ExoBit is a good company. Investors are praising the account managers for delivering success.
Moreover, we found contradicting statements. The firm allegedly offers mining services. However, the platform does not mention this on its website. Additionally, the location of their mining farm, mining charges, and hardware used are missing.
There is no evidence of trading happening on their website. ExoBit is exploiting investors. There is no advantage that comes by venturing with them. Moreover, we cannot find proof of payment.
ExoBit is a company that is charging hefty fees to its customers. You can tell that this is not a broker in the best interest of investors. They are going to leave you high and dry. The firm is not licensed.
The location of the broker is unknown. You risk a lot by entrusting your funds to them. Multiple red flags surround the entity. The time shall come for them to exit the industry. It is not even the authority that will be able to help you.
Avoid the obvious outcome and invest with legit forex brokers. They publicize their trading results verified by a reputable third party. Therefore, you will know what you are signing up for.