EXXI Capital review revealing if the broker is scam or legit
We are all used to seeing scam brokerages here and there and at this rate, we are expecting that these brokers will at least lead a sophisticated scam. Some brokers certainly do, and it is hard to find out they are a scam, however, there are brokers who fail to look legit. EXXI Capital Forex broker is such a broker. While the broker tries to look legit and reliable, it is easy to see the fraud behind it. The broker states that it offers a system which is very easy and comfortable to use, has fair spreads prices that are low, has a great variety of trading instruments and a very good customer service. Last but not least, EXXI Capital markets itself as the favorite broker of Latin America. After making Exxicapital.com review we found out that these are nothing more than false statements from the brokerage to lure customers into the investments. This is how we revealed the scam behind EXXI Capital.
Revealing EXXI Capital scam
As all scammer brokers, EXXI Capital claims to be regulated. In fact, it claims that regulation is one of the brokerage’s highlights. The broker states that the headquarters of the brokerage is in Malta, where the company has segregated accounts for the company’s and customer’s funds. It also states that the company in Malta is regulated by the Malta Financial Services Authority (MFSA), also is part of the EU’s MiFID which gives them the authorization to provide cross-border services within the European Economic Area. Until now everything seems fine and there is no indication of EXXI Capital scam. But the reality is different. The broker states that it has FCA EEA authorization and suggests visitors check it, but there is no PDF file or link that would show the license. Moreover, the company that operates EXXI Capital is not the one that is registered in Malta.
Additional information about regulations can be found in the frequently asked questions. First of all, the website shows that the brokerage is a holding by EXISTE INVESTMENT. On the FAQ page, the broker states that EXXI Capital is a representative of Forex Direx Diler that has a parent company registered in the United States. There is Exxi-Malta Limited, that is mentioned on the front page, in addition, the broker has another company registered in Mauritius – Exxi Mauritius, which is regulated by the Financial Services Commission of Mauritius.
The information about EXXI Capital FX brokerage cannot be found on the official website of FCA, MFSA, or on the FSC Mauritius website. Meaning that the broker is not regulated and tries to confuse visitors of the website with different information to make them believe the broker has some regulations. Moreover, EXXI Capital itself is operating from Lima, Peru.
EXXI Capital website review
The regulatory background is not the only thing that shows that EXXI Capital fraud is real. The fact that the broker is not reliable can be seen on its website. Let’s start from the beginning. The website is available only in Spanish and those, who want to view it does not know Spanish, have to use Google translate. The website looks like it is not properly made or it is not finished at all. One can say that the webpage only consists of the front page and nothing more. This is all you can see and do on the website: See the front page, that does not have any link on the other pages, view frequently asked questions, register demo or real account, deposit money on your trading account.
There are links to the other information you can see below: Account types, trading instruments including Forex trading, stocks, commodities, indices, precious metals, energies; Trading conditions including execution policy, spreads, margin and leverage, overnight positions, frequently asked questions, trading hours; MT4 platforms. All of them have the links that should redirect you to the relevant pages and show you the information about them, however, all of the links, except FAQ section redirect you on the front page as well. This is enough to understand why the EXXI Capital rating is so low.
The broker has social media accounts. The Facebook page of EXXI Capital was created in January 2019, seemingly the broker was established at that time. This shows that EXXI Capital is simply lying when stating it is the favorite broker in Latin America, as five months-period is too short to get this title especially when the broker is so bad. Facebook account is liked by 24 people only. The twitter account is blocked and as the network suggests it is suspended. As for the youtube page, there are two videos only and one subscriber. Seemingly EXXI Capital opinions are not that great as the broker states.
EXXI Capital features
As you could guess from the website review, it is hard to find out what the broker offers to their customers as none of the relevant pages work. The available information suggests that the minimum deposit required to open an account with EXXI Capital is 200 USD. The leverage is 1:1000 which definitely too high as it is 33 times larger than allowed leverage in the European Union. As the broker states it has fair priced spreads, but the website suggests the spreads start from 1.6 pips which is too high.
The information about EXXI Capital withdrawal is not available, hence, customers are not able to see how long does the withdrawal take, which payment methods can be used for depositing and withdrawing money if there are any commissions related to withdrawal and deposit. Traders are also unable to see if there are commissions on trades or any other additional fees such as account maintenance fee. Meaning that if someone decides to open an account with the broker, despite the fact that EXXI Capital scam is too obvious, he will only be able to see the real features and commissions of the brokerage while trading.
Last but not least, the broker claims it has high-quality service, but there is no service provided on the website at all. The broker does not even have a «contact us» page. No need to say there is no live chat available, or numbers given to contact the brokerage. This is another huge indication to EXXI Capital fraud. The broker does not display the contact information simply because it does not want to allow customers to contact it in case problems, which I assume will be a lot if the broker will convince anyone to open an account.
EXXI Capital rating
Our verdict after EXXI Capital review is that the broker is a scam and anyone who is searching for the good broker should avoid it at all cost. Although the broker talks a lot about regulations, it does not have any. One cannot learn about the features of the broker simply because there is no information available on the website. EXXI Capital is making false statements on the website and puts misleading information to trick traders into opening an account. Clearly, the broker is leading some kind of scam and there is nothing positive to be said about EXXI Capital Forex broker.