Exteom operates from the obscure offshore location of Saint Vincent and the Grenadines (SVG), presenting opportunities for Forex, CFD, and cryptocurrency trading. Despite the polished appearance and captivating content of this website, certain concerning aspects demand your attention.
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The central aspect of our Exteom Review pertains to the legal standing and licensing, or rather the absence thereof, of this offshore brokerage. Through a meticulous examination of the exteom.com website, we aim to unveil the unlicensed fraudulent nature underlying its operations.
Website – https://www.exteom.com/
Address – Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines
Warning – Comisión Nacional del Mercado de Valores (Spain)
Regulated – Unregulated, Blacklisted, Offshore
Domain Age –
| Domain Name | exteom.com |
|---|---|
| Date Registered | October 06, 2022 |
| Domain Age | 10 months, 10 days, 23 hours, 14 minutes, 46 seconds |
Exteom Review: Regulation
The anonymity surrounding Exteom as a forex broker gives rise to noteworthy apprehensions concerning the company’s transparency and responsibility. The absence of clarity regarding their operations, ownership, and registration casts doubts on their credibility and the feasibility of holding them accountable for their conduct.
Their disclosures merely indicate that they are a registered offshore entity in Saint Vincent and the Grenadines. Furthermore, operating without a legitimate forex license amplifies the risk factor for potential clients. It is highly advisable to completely steer clear of any interactions or transactions with Exteom.
Trading Instruments
According to their platform, this untrustworthy broker asserts to offer an extensive array of tradable financial instruments. These encompass Forex, Commodities, Indices, Stocks, and Cryptocurrencies.
Exteom Review: Trading Platform
Exteom presents clients with three distinct trading platforms: MetaTrader 4, a web-based platform, and a mobile trading platform. The first among these, MT4, stands as remarkable software crafted by MetaQuotes in 2005. It boasts an array of state-of-the-art features, including automated trading, more than 20 timeframes, instant order execution, advanced charting capabilities, and more.
Conversely, the web platform emerges as rudimentary and lackluster, lacking the advanced tools that MT4 provides. Our examination of Exteom’s browser-based terminal revealed an ordinary setup. The platform comprises basic charts and graphs without any exceptional features. It’s important to note that web trading is frequently associated with deceptive brokers.
Exteom Review: Trading Accounts
Exteom claim to offer three types of trading accounts like Standard, Premium and VIP. Exteom has not divulged the minimum deposit for the other two account types. The only information available pertains to the Standard account, which requires a minimum deposit of $250 which is very high compared to the offer by the legitimate brokers. As per the website, the leverage for the Premium and VIP accounts can be adjusted based on the client’s investment capability.
Deposit and Withdrawal Methods
Specifics regarding Exteom deposit prerequisites and account choices eluded our discovery. Furthermore, the payment methods permitted remain ambiguous, and this opacity surrounding crucial trading terms and prerequisites stands as a significant cause for concern.
Lastly, the absence of transparent information supplied by Exteom concerning their withdrawal fees and prerequisites does indeed raise disquiet. For a trader, cultivating a thorough comprehension of these elements is imperative prior to engaging with any broker.
Negative Reviews and Complaints
We ventured to Trustpilot to gauge the sentiment of traders regarding this offshore broker. To put it succinctly, the consensus on Exteom is far from favorable. More than 80% of the Exteom Trustpilot reviews lay bare the deceptive nature of this broker. It is crucial to pay heed to these cautionary accounts from traders in order to steer clear of the cyber trap that Exteom represents.
Conclusion
Exteom operates as an unregulated offshore fraudulent broker, presenting opportunities for Forex, CFD, and cryptocurrency trading. Functioning since October 2022, this deceitful entity primarily targets traders from Germany, Spain, Switzerland, the Netherlands, and the Czech Republic.
We strongly advise against investing funds in this scheme. If you are a victim of this scam, we provide a complaint form on our website for you to schedule a free consultation to help in the fund recovery process.
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Exteom Review was first posted on August 17, 2023 at 12:20 pm.
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