Еxpochains Review: Stay Away from Expochains.Com Broker
Expochains is not so wise due to its questionable legitimacy. There are many reasons for this. Despite a few positive reviews and an attractive website, the company is not licensed in the countries it claims to have offices.
It requires a high minimum deposit and raises red flags as an investment choice. Before depositing with Expochains, we advise you to thoroughly research and consider all available options. Also, this Expochains review is here to help you out!
|Leverage||from 1:100 to 1:1000|
|Headquarters||Rue des Dahlias, 1411 Luxembourg|
License and Regulations of Еxpochains
Expochains boasts of having offices in both the UK and Luxembourg. However, it lacks any substantial evidence to back its claims of being licensed in these regions. Our research with the FCA (UK’s financial regulator) and CSSF (Luxembourg’s broker authority) didn’t deliver any optimistic results.
The broker’s lack of a license makes them untrustworthy. You should keep this in mind. Unlicensed brokers can operate however they choose. This leaves you without any protection or assurance of fair treatment.
Trading Platform Available at Еxpochains
Expochains claims to offer a desktop platform and WebTrader. Yet, you can’t access or test these before opening an account and making a large initial deposit. There’s no guarantee that you’ll actually get access to the platform at all or that your money will be safe with this broker. It’s better to opt for a legit broker like those that offer the MetaTrader 5 platform.
MetaTrader 5 is a full-featured trading solution for nearly all financial markets, including stocks, futures, and forex. Compared to its previous version, MT4, it is much faster, more versatile, and more efficient. So, you can have a better trading experience with a legit broker that offers the MT5 platform.
Note: It is sad but true, scams can happen to anyone regardless of their level of experience. So, make sure to always be mindful of scammy tactics.
Account Types Offered at Еxpochains
Expochains is known to be a scam broker. This is unfortunate but true. The company offers five different account types: Bronze, Silver, Gold, Premium, and Black. Each account type requires a minimum deposit of $100.
It’s imperative to be cautious when dealing with brokers like Expochains, as there have been so many reports of people losing their money to these types of scams. Always thoroughly research and vet a broker before investing any money in them.
Expochains broker offers different levels of leverage for its trading accounts. They go from 1:100 to 1:1000. Leverage is a key factor in online trading as it allows traders to increase their potential profits by borrowing funds from the broker. However, you should know that the higher the leverage, the higher the risk of potential losses.
Deposit and Withdrawal Methods
Expochains claims to allow traders to transfer funds through card or wire transfer. However, this information has not been verified. What’s more, any attempts to make a deposit resulted in a website malfunction with a message to try again later.
This suggests that depositing with Expochains is currently not possible. Even if it were, it’s not advisable to do so. Expochains has a reputation as a scam broker, which means it is not a trustworthy company. It’s wise to exercise caution and avoid depositing money with such a risky entity.
Offshore Brokers Fraudulent Tactics
Investing in the FX markets has the potential to be a profitable venture. Regardless, it’s crucial to be aware of the numerous scams that exist. These scams like targeting inexperienced investors. They often take the form of fake websites posing as legit brokerage firms but offer no real benefits or services.
If you provide your private information to these scammers, they may relentlessly call you, trying to convince you to invest your money. After all, in most cases, you will not see any returns and may not even be able to access your own funds. To protect yourself, always be vigilant and avoid falling prey to these scams.
The Best Brokers for Forex
Consider this list of the most trustworthy foreign exchange brokers in the industry. These have a proven track record of providing top-notch services!
They also offer a range of currency trading products and services, including currency pairs, commodities, and indices. These are a great choice for anyone looking to trade with confidence.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
We can confirm that this forex broker is indeed a scam. The reasons behind this conclusion are highlighted in the article. One of the major red flags is the lack of transparency on the website, which makes it difficult to determine the true owner.
Sharing your unfavorable experiences with this or any other deceitful broker would be greatly appreciated. By doing so, you would be playing a crucial role in preventing others from falling victim to scams. This can make a big difference in the lives of many individuals.
FAQs About Еxpochains Broker
Is Еxpochains Regulated?
No, Еxpochains is not regulated. It has been identified as a bogus broker scam. It operates outside the parameters of regulatory oversight.
What is The Minimum Deposit for Еxpochains?
The minimum deposit for Еxpochains is reportedly $100. Yet, keep in mind that this should be taken with caution as this broker is not legit.
Is Еxpochains a Trustworthy Broker?
No, Еxpochains is not a trustworthy broker. It is a broker scam and should not be considered a safe option for forex trading.