Exteom Review: EU Traders Are Lured in Fraud Again
If you’re considering trading with Exteom, it’s crucial to understand their basic information before making any decisions. Take a look at the table below to see why this trading company should be avoided.
|Exteom / Exteom com
|Saint Vincent and the Grenadines
|Number of complaints found
|Stay away from these fraudsters!
Is Exteom Legit or a Trading Scam?
Exteom is a popular online trading broker among our audience. However, before engaging with any online trading platform, including Exteom, it’s essential to conduct thorough research. Unfortunately, Exteom is not regulated or authorized by any major regulatory authority. This lack of regulation poses challenges when it comes to withdrawing funds, as the company may ignore your request or suspend your account without valid reasons.
In this Exteom review, we will explore the company’s legitimacy, the process of withdrawing funds from the platform, and how online trading scams operate.
Traders’ Opinion on Exteom
To protect yourself from fraudulent online platforms, it’s crucial to perform due diligence on the companies and entities you plan to invest your money with. Reading reviews from other traders who have firsthand experience with Exteom is vital in determining the reliability of this broker.
So, is Exteom legit? Based on our research on various social media platforms like Facebook, Twitter, Instagram, and online trading forums, it appears that users are dissatisfied with their experience with Exteom. User feedback suggests that Exteom is not a trustworthy broker. Therefore, exercising extreme caution and being wary of investing through their brokerage platform is advised.
According to our research, Exteom mainly targets customers from the following countries:
Can I Withdraw Profits from My Exteom Account?
If your funds are stuck in your Exteom account, it’s important to reach out to them and request a withdrawal using every available means. This will provide you with evidence to present to the authorities if they refuse to process your request.
If your payout request is still not approved, here’s what you should do:
- Gather all the evidence, including your account balance and written communication.
- Contact local authorities.
- Seek assistance from a specialized chargeback firm that can guide you through the process of recovering your money from online trading scammers.
Even if a brokerage company is regulated, it’s advisable to avoid it if the regulation doesn’t apply in your jurisdiction. This is because you may encounter withdrawal issues and won’t have the possibility to request reimbursement from a dedicated compensation fund regulated by authorities.
Being vigilant for red flags and avoiding falling victim to the Exteom scam is of utmost importance.
How Do Online Trading Scams Work?
One of the common methods employed by online trading scammers is showcasing profitable trades to give you a false sense of confidence and lure you with the promise of “quick money.” Once they establish this confidence, they will encourage you to invest more money to achieve higher returns.
Upon registration, broker employees will persistently contact you through calls, emails, WhatsApp, and even Telegram groups. They will entice you with the idea of earning thousands of dollars overnight. Once you fall for their tactics, they will assign you a “senior account manager” or retention agent who will create numerous financial plans to supposedly help you achieve your goals.
In some cases, they may even request access to your computer or mobile device through AnyDesk, TeamViewer, or other remote software. By gaining control over your device, they can access your online banking, crypto wallet, and other financial accounts. The consequences of this are self-explanatory.
Fraudulent firms may also incentivize you to bring in your friends and family to the platform. Once the brokerage believes they have extracted all possible funds from you and your network, they will suspend your account, denying you access to your funds. In simpler terms, you won’t be able to log in to Exteom anymore.
Many fraudulent firms might claim to have an address and a license in your country as a feeble attempt to establish credibility. Always verify such claims by checking the regulatory database first!
How to Choose the Right Broker?
Investing time in research before considering a suspicious broker can save you from potential losses and unnecessary stress. Remember to verify information from multiple sources and exercise caution when dealing with any online trading platform. If you need assistance in selecting the right broker, don’t hesitate to contact FinTopi experts.
Leave your details below, and we’ll assist you in researching brokers regulated within your jurisdiction, preferably by Tier 1 authorities such as ASIC, FCA, or BaFin. Stay safe!
Is Exteom a Legitimate Trading Firm?
No, Exteom is not a legitimate broker as it lacks the necessary licenses for its operations.
Where Can I Find a List of the Top Forex and Crypto Brokers?
Numerous lists of top brokers can be found online. However, it's important to remember that each trader has unique needs and preferences. What might be suitable for one trader may not be the best choice for another. That's why FinTopi offers a customizable service to help you select a broker that aligns with your trading needs.
How Can You Help Me Choose the Best Forex and Crypto Broker?
We evaluate your trading needs, preferences, and skill level to provide personalized recommendations. Ultimately, the final choice is up to you. Our consultation is free of charge and doesn't obligate you in any way.