Exopip claims to offer trading conditions that will help traders maximize their potential. We’ve seen many similar statements, and more often than not, they come from regular scams. To determine which category this broker falls into, we have conducted this comprehensive review.
- Exopip General Information
- Registration and Client Portal Review
- Exopip Trading Conditions
- Account Types Review
- Trading Platform
- Exopip — Deposit and Withdrawal of Funds
- Additional Options
- Is Exopip a Scam?
- Legal Information and License
- Exopip.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Exopip General Information
|Address||37 Leman St, London E1 8EW, United Kingdom|
Registration and Client Portal Review
The official website of Exopip leaves much to be desired. It appears to be a generic template that lacks originality and sophistication. The sheer number of errors on the site is astonishing. For instance, they refer to BTC as BTV, and the answers provided in the FAQ section seem completely off the mark. The design is simply repulsive, as it appears the broker chose a random stock image for their main visual. Overall, the website’s quality and attention to detail are highly questionable, and it fails to make a positive impression.
As usual, we attempted to register for the purpose of analyzing the personal account and platform. However, Exopip did not grant us such an opportunity. Creating an account on their platform is only possible with a referral code. The enigma of where to find this code remains. Perhaps it’s worth reaching out to the company’s managers to obtain it. Such a practice among brokers raises suspicions and evokes thoughts of potential deception. Honest brokers usually have nothing to hide, making this approach appear rather dubious.
Exopip Trading Conditions
What value can we expect from a broker that doesn’t put in the effort to craft a proper official website? Our optimism about receiving top-notch service from them is quite limited, to say the least.
Account Types Review
Upon visiting the homepage of Exopip, we are greeted with an instruction to choose an account type before proceeding to open an account. Remarkably, this broker presents a total of seven account types, each with distinct features and minimum deposit requirements. Astonishingly, an entry-level account like the Bronze status demands a substantial 10,000 euros as a minimum deposit. This might seem like a significant threshold, and yet, paradoxically, Exopip contradicts itself elsewhere. The “FAQ” section claims that you can start trading with as little as $250.
Furthermore, if we look at the VIP account, which mandates a hefty deposit of one million euros, the offerings are rather underwhelming: market reviews, access to webinars and trading rooms, and just a single risk-free trade.
Clients are also informed that the leverage ratio varies depending on the chosen account type and can extend up to 1:200. This raises an immediate red flag, indicating that Exopip might not be well-versed in the realm of regulatory licenses and appropriate practices.
Exopip seems to go to great lengths to highlight the merits of its trading platform. However, unfortunately, when it comes to providing a transparent and accessible experience, it falls significantly short. The absence of a demo access option to explore the platform’s functionalities is a telling sign.
Strangely enough, Exopip neglects to mention crucial details about the platform’s origins, its development team, the availability of mobile and desktop applications, or any accolades or awards it might have received. Considering the information void surrounding the platform’s specifics, it’s quite reasonable to infer that Exopip’s trading terminal might not hold up to the expectations they aspire to set.
Exopip — Deposit and Withdrawal of Funds
Exopip takes pride in presenting an extensive array of deposit methods to cater to various preferences and needs. These methods encompass a spectrum of options, from conventional credit card and wire transfer choices to modern electronic payment systems. One of the notable claims made by Exopip is that they do not impose any commissions on deposits. This declaration is undoubtedly an appealing aspect for traders, as it suggests that they can fund their accounts without incurring additional costs. However, the picture gets a bit muddled when Exopip simultaneously encourages potential clients to engage with its support managers to ascertain the exact dimensions of commissions and fees it upholds.
Certainly, an intriguing element emerges in this narrative. A notable twist awaits those who embark on the quest to unearth the elusive promo code. Beneath the surface of this initial endeavor, lies yet another labyrinthine journey: the verification process.
The KYC policy, an industry-standard practice aimed at enhancing security and regulatory compliance, demands that traders verify their identities before delving into trading activities. This requirement involves furnishing copies of documents that substantiate vital aspects such as one’s identity, residential address, and the legal origin of their funds.
These documents are generally submitted through the Exopip platform or provided via email to the broker’s verification team. Once the documents are received, they undergo a thorough review to ascertain their authenticity and compliance with regulatory requirements. This review process is typically conducted by trained professionals who specialize in compliance and security matters.
It’s worth noting that Exopip supposedly offers a partnership program, yet they keep the specific terms and conditions of this program hidden from view. Moreover, they casually mention their ability to provide “appropriate levels of education” for beginners. However, when you navigate to this section on their website, it’s rather unclear who exactly this education is tailored for.
Regarding their additional services like market analysis and access to webinars, it’s important to consider that renowned trading experts who can offer superior guidance often charge significantly less than the million euros required for their VIP account. Thus, committing to such a substantial minimum deposit seems unnecessarily excessive, especially when it might result in being directed into the markets by an unidentified cadre of pseudo-analysts.
Is Exopip a Scam?
If you haven’t pieced it together yet, let’s be unequivocal. Our stance is that Exopip is unequivocally a scam. In case the earlier points seemed ambiguous, let’s delve deeper by scrutinizing whether this company has the legal right to operate and safeguard your funds.
Legal Information and License
The situation with Exopip appears to be twofold. Either they are in complete violation of disclosure regulations, or there is a lack of transparency surrounding their management company in their documents. In the contact details provided, a British address is given, implying Exopip’s registration in the UK. A relatively straightforward step is to cross-reference this information with the country’s registry, and upon conducting such a search, we failed to find any matching records for a company with the same name. This glaring absence raises concerns about the legitimacy of their registration. If this broker hasn’t even registered as a legal entity, it’s safe to assume that they lack the necessary licenses for their operations.
Exopip.com Domain Info
Taking a closer look at the domain information, it becomes evident that this broker is relatively new to the trading scene. Our investigation revealed a significant detail — the earliest Exopip reviews emerged just a few months back. This discovery aligns with the timing of the broker’s domain registration. In fact, the official website itself was only established in March of 2023. This relatively recent entry into the market and the timing of their website’s inception raise pertinent questions about the broker’s credibility and experience.
The broker has presented contact information, including phone numbers and email addresses, alongside an address that, as previously pointed out, appears to be fictitious. This address has no connection to any Exopip office. Moreover, our findings indicate that alternative means of communication have been riddled with challenges. Numerous reviews have highlighted the substantial difficulties traders face when attempting to reach the broker’s customer support, particularly in situations involving financial matters.
It’s worth noting that Exopip isn’t the sole online platform associated with these fraudulent actors. You can also explore Polarbtc and LibreHoldings, and as expected, the similarities are striking. It seems these individuals have established a range of deceitful websites. They could perhaps brand it as “The Scammer Collection,” with a tagline like “Deceiving Individuals!” Well, maybe not the catchiest, but the concept is clear.
Pros and Cons
- Lack of transparency.
- Law website quality.
- Dubious platform.
- No licenses.
- Short operation period.
Frequently Asked Questions (FAQ)
The broker claims to offer a range of trading services across various asset classes, including forex, commodities, indices, and cryptocurrencies.
The broker cannot decide what minimum deposit is required, 10 thousand or 250 dollars.
No, Exopip is not safe. The numerous red flags, including the absence of proper registration, licensing, and transparency on their website, raise significant concerns about the legitimacy and safety of this broker.