ExmTrade Review: Why You Should Read Our Truthful Analysis
ExmTrade claims to be a legitimate investment platform that offers numerous plans and hefty returns. Yet, we have already seen the exact same website several times.
This particular domain is relatively new and there are virtually no trader reviews. Our introduction is the tip of the iceberg so please read our whole ExmTrade Review to learn why this platform is a terrible choice for your investments.
|Regulated by:||Unregulated Investment Scam|
|Is This Company Safe?||No|
|Have Warnings from:||N/A|
|Registered in:||US (allegedly)|
|Minimum Deposit:||100 EUR|
|Trading Assets:||Forex, Indices, Commodities, Stocks, Cryptocurrencies, Bonds|
|Free Demo Account:||Unavailable|
|How to Withdraw from This Company?||Since this company is unlikely to return your money – contact your bank, financial regulator, or simply reach out to us for professional assistance in recovering your funds.|
Legal Info: Is Exm Trade Regulated?
ExmTrade claims to be headquartered in the United States while being regulated in Cyprus and Belize. Of course, all these claims are lies. If you skim through the platform’s website, you’ll notice the names of several other firms.
This is because the sloppy scammer blatantly copied their pages and did not care about reviewing the newly created clone site. The truth is that ExmTrade is an unlicensed investment scheme.
Therefore, we do not recommend you invest money in this platform, or any other unregulated provider such as Profit Trade. You won’t benefit from neat perks such as negative balance protection, segregated funds, or a compensation contract available in Europe and Canada.
You should find a regulated broker operating under the supervision of a reputable financial authority such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), JFSA (Japan), CySEC (Cyprus), etc.
Who Are ExmTrade’s Targets?
According to godaddy.com/whois, the exmtrade.net website domain was created on September 8, 2023. For about a month now, the cyber con artist has been targeting primarily traders who reside in the following countries:
- United States;
- Saudi Arabia;
- South Korea;
Each of these jurisdictions is unique in a certain way in terms of regulations. To stress once again, the anonymous ExmTrade is not licensed to offer investment plans and services, which is why it cannot legally operate in these countries.
The phony platform is not compliant with the regulations in force in these states. For instance, ExmTrade offers a maximum leverage cap of 1:500 but the legal limit in the US is 1:50 for retail clients.
The webparanoid.com data shows that the trickster’s website has extremely low traffic, i.e. number of visits.
Trader Reviews – Sharing Experiences
Whichever trading forum we checked, we could not find any review of this platform. We assume that the absence of user reviews is due to the relatively new website. Nevertheless, webparanoid.com analyzed the site and gave it a low trust score, adding that it was “not visited by many users.”
This directly debunks the financial swindler’s lie about having more than 300,000 users and over 183,000 daily trades with a daily turnover exceeding 23 billion dollars.
Please avoid trading on unregulated platforms and instead stick to licensed and transparent brokerage companies that provide safe trading conditions.
Which Trading Platforms Are Available?
It seems that ExmTrade does not support any trading platform at all. The whole investment story is a hoax created to get unsuspecting traders to invest money into their accounts so that the trickster can embezzle it.
There is allegedly some suspicious mobile app available but we would not recommend you download it because it may contain malware. Unlicensed providers such as StockCore are known for offering rigged and unreliable platforms.
You ought to stick to licensed brokers that support credible and proven third-party trading software such as MetaTrader 4, MetaTrader 5, or cTrader if you want access to cutting-edge options.
Leverage, Spreads, Commissions, Demo Account
The maximum leverage that ExmTrade offers is 1:500. As mentioned, the legal cap in the United States is 1:50 for retail clients.
High leverage allows traders to control larger positions with a relatively small amount of capital but significantly increases the risk of huge losses. More often than not, traders end up losing money…
The spreads were not disclosed while the commissions start from 0.08%. We wouldn’t bet on it given the platform’s anonymous background. There is no demo account either. If you are a novice, you shouldn’t be risking real money straight away. Every legitimate brokerage firm nowadays offers a demo account option.
Deposit and Withdrawal Process
ExmTrade mentioned that the minimum deposit requirement is 100 EUR but failed to specify which funding options are available. Since there is no payment policy on the website, we did not find out anything about the related fees. We do know for certain, though, that the fraudster will not allow you to withdraw funds or get a refund.
In that case, you should know that funds deposited via MasterCard and VISA credit/debit cards can be refunded via a chargeback, which can be requested at the issuing bank within 540 days.
Wire transfers can be reversed via a recall but this action can only work for transactions that are not yet complete. As for crypto payments, you’re going to need professional assistance to get your money back.
Key Facts To Consider About ExmTrade
To sum up our review, ExmTrade is an anonymous investment scam that offers fake plans to unwary traders. This website mainly targets users from the US, the Philippines, South Korea, and Saudi Arabia.
We do not recommend this platform because it is unregulated. In case you’ve already deposited funds into your account, you must seek our professional help to recover your money!
Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the chargeback process and assist you every step of the way.
Book your consultation with us today and start the chargeback process.
What Is ExmTrade?
ExmTrade is an anonymous investment scam with a non-existing legal background and no license.
Is ExmTrade Regulated?
ExmTrade is not regulated. The scammer uses a clone website in order to fool traders and steal their money.
How Does ExmTrade Work?
ExmTrade offers dubious investment plans and guarantees hefty returns. In case you bought a plan, we can help you recover your funds.