Еxpochains Review: The Truth About This Scammer
ExpoChains is an online broker that is claiming to offer traders a diverse set of assets and conditions. As they say, they strive to be open and accepting of various types of trading styles and budgets. But here comes the kicker, they ask for a minimum deposit of $10,000.
And on top of that, they are just another unregulated investment scam that is just interested to strip you of your money. So, sit back, relax, and read our Expochains review, to learn more about this scam business.
|ExpoChains Ltd, 2 Rue des Dahlias, 1411 Luxembourg
Еxpochains Regulation and Security of Funds
The Expochains scam broker is yet another one that states they are registered in the UK.
The regulatory body for providing financial services of this kind is FCA, and as expected there is no mention of any license or regulation that has been issued to Expochains.
So, in conclusion, it is safe to say that if you decide to invest with this scam broker it is essentially like throwing your money down the drain. They offer no safety to your funds and even if they decide to mention something of that kind on their website it will likely just be copied from some other broker’s site and therefore not represent either them or their services.
Еxpochains Trading Platform Overview
It’s not a surprise that scam brokers are shady and Expochains is as shady as it gets. Expochains broker promises that it offers the industry’s most popular trading platform, MetaTrader 5. But this also turns out to be a lie.
There are no active download links for the software on the website. There is also no sign of the trading software on Expochain’s dashboard. There we find only simple charts with current asset prices taken for free from the data provider TradingView.
Еxpochains Account Types
When we were conducting this review, we also took time to see what kind of account types this scam broker offers. This is what we found:
- Bronze- Requires a deposit of $10,000 and offers a leverage of 1:100.
- Silver- $25,000 deposit and leverage of 1:200
- Gold- $50,000
- Premium- $100,000
- Black account- This is a personalized account dedicated to only their VIP clients.
No matter the account type, the client will allegedly have spreads from 1 pip and access to WebTrader and MT4, and MT5.
Funding Options Available
When it comes to funding options, Expochains doesn’t really offer that much range. Here are the following deposit methods:
- Visa or Master credit or debit card
- Wire transfer
As you can see, it’s very bland with its options and once we tried to activate the account with them, the website magically stopped working. So, it’s best to just stay away from them.
The Fraudulent Techniques
Trading scams basically have the same principle that is being performed through different sites and by different agents.
Nonetheless, the core remains the same. The broker first gets your personal information if you have left it on some sketchy sites and then the constant harassment starts. It is important to note that scams like this one can happen to anyone. The agents calling you are persuasive professionals who scam people for a living. Even if you say no, they will continue to call you until you agree to make an initial deposit.
In this Expochains review, we gave you a better insight into how this illicit broker operates. Not only are they unregulated and unlicensed but they falsely claim to be. Expochains offers their customers an opportunity to invest in forex, CFD, and much more. However, something as basic as their trading platform is missing, indicating that you are dealing with a scam.
In conclusion, we advise you to stay away from this and many other fraudulent brokers alike. And also remember to always read the reviews. We also answered the question is Еxpochains a regulated broker.
FAQs About Еxpochains Broker
Is Еxpochains a Safe Place for My Money?
This broker follows no regulations and therefore offers no safety for your funds.
Can I Open A Demo Account with Еxpochains?
No, Expochains does not offer its potential clients an opportunity to open a demo account to check out its services.
What Accounts Еxpochains offers type?
The broker offers 5 different types including bronze, silver, gold, premium, and black account.