Expo Trust Review: Blacklisted By Everybody Including TrustPilot

Shady sites that promise quick riches to whoever invests a relatively small sum of money are nothing new. Sometimes they are relatively difficult to spot, especially when you’re a newcomer to the trading business.

Today, we will analyze one of these bogus brokers in our Expo Trust review, and show you how you can more easily recognize them in the future.

Blacklisted Clone

Being no reputable UK trading brand, this shady business attempts to pass as legit by presenting themselves as a credible company. The address given actually belongs to a company dissolved in January 2022 – W & T PROBATE SERVICES LLP, which has nothing to do with the site in question. 

After verifying other claims on the website, we found them to be just as fake as the rest of the presentation. The Expo Trust scam claims to be owned and operated by Evelyn Partners Investment Management Services Limited, regulated by the jurisdictional regulator – FCA. 

However, you can immediately spot the liar in the whole deal. The official website of the regulated firm is evelyn.com, as listed in the FCA database, not expo-trust.net which is run by swindlers.

Because of all the lies and fraudulent tendencies and misinformation used to deceive potential customers, CBR and CNMV have blacklisted this alleged brokerage firm. The situation is the same with Alfabtc, which claims to be properly regulated but lacks any valid Forex license, whatsoever.

Under Scrutiny By TrustPilot

Currently the firm has an approval score of only 33%, with 67% of all comments being negative. Reading some of them, it is clear that nearly all of the positive comments are fakes.

The situation with Expo Trust reviews got so bad, that one of the most popular ratings platforms, TrustPilot, had to remove the comments about the firm citing a breach in site’s business guidelines.

We can then be certain that this faux broker actively pays review seller networks to artificially increase their online ratings score. So far, there aren’t any additional reviews to be found on other platforms like SiteJabber.

Peculiar Selection of Trading Software

Interestingly enough, the broker doesn’t openly advertise their trading platform. This is one of the major interaction points with any company, so we thought it strange at first, but then we created an account and suddenly it made sense.

You will only learn about the desktop app if you try to download it from the client dashboard. Only then will you find out that the app in question is Sirix Station, which has achieved some kind of notoriety amidst traders.

The software itself is not badly designed, and is comparable to industry standard MT4 or cTrader in many regards. What differentiates it from the standard programs is their users – you see, Sirix Station, through an unfortunate series of events, found most of their client base among various online con artists.

Mobile Device Support

The company also provides a mobile trading terminal. It is available for Android users only, and is a lesser known app named App4World. Lesser known in the legit circles, as the software is plagued by the same reputation as Sirix Station we mentioned before.

The app is downloadable from Google Play, and has a relatively small number of unique downloads, and no rating score at the time of writing this review. Either way, it’s not on our list of recommended trading apps.

Small List Of Instruments

The selection of financial instruments includes the most popular groups you’ll find with the majority of brokers today. This is something other unscrupulous firms like Ltd-FX do as well, in order to cover their intentions.

Individual assets are not quite diverse, though, with each group offering only a slim choice of individual products. Here’s an overview:

• Forex – EUR/USD, AUD/CAD, NZD/SEK, GBP/CHF
• Shares – Airbnb, Lufthansa, BNP Paribas
• Metals – Silver, Gold, Platinum, Palladium
• Commodities – Cocoa, Coffee, Oil, Natural Gas
• Indices – EU50, JPY225, FRA40, WTI
• Futures – US500, US30, UK100, JP225

Account Types and Trading Terms

The “flexible” leverage of 1:1 to 1:1000 featured on every account type is nothing short of terrifying. The fact that an alleged UK brand would offer such a ridiculously high ratio beyond any safety limit or regulatory standard is concerning to say the least. 

While the costs and majority of trading terms depend on the concrete package you choose to purchase, we still wouldn’t call them beneficiary in any way. The spreads for the more expensive accounts do get tighter and down to 0 – 0.8 pips, but they cannot be trusted to indeed be present. 

One more source of concern is the absence of the price tags for each of the Expo Trust accounts:

• Standard
• Ultimate
• Pro
• Elite

Referral Program Offers Bonuses

Rewarding financial benefits are promised to be available for all loyal clients and newcomers invited by the existing users. All interested recruits can use their referral link to promote the company and get new investors to register for these services. 

Each new referral that deposits at least $1,000 brings the existing user a $100 bonus. It’s not known how the withdrawal of these funds works. It’s more likely that it doesn’t happen, considering how prone to bonus abuse swindlers are.

Poor Educational Resources

The promised comprehensive learning programs that help traders of all levels are found nowhere on the site. There’s nothing but fabrications about a rich range of materials available for members that wish to improve and enrich their trading knowledge. Another bait placed with a bunch of nonsensical fabrications.

Transactions Are Risky

Payment services and account funding are performed through questionable online payment processors. Sharing your credit card information with unreliable transaction portals cannot bring you anything good. Your information becomes subject to data theft, which is later misused for the purposes of emptying your wallets and bank accounts.

It’s even worse when it comes to the other payment method allowed on the platform – digital currencies. Being hardly trackable, these are a real nightmare to monitor, let alone reverse.

Funded Trading is the Way

Dealing with unregulated firms carries significant risk not only for your invested capital, but for your personal information as well. We offer an excellent alternative – funded trading for those that strive for trading excellence!

Whether you’re a novice or a seasoned trader, you’d be delighted to learn that we offer as much as $180,000 in funding. So, what are you waiting for? Book a free Zoom call with our representatives and learn more about our funded trading accounts!

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