Exindex claims to be a London-based broker, implying it has an FCA license. Their website looks pretty decent if you just take a short glance. A deeper look will show that much information is missing, such as broker owner, basic trading conditions, etc. Read our Exindex review and you’ll find out why it’s not recommended to invest with this firm.
| Broker status: | Unregulated |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | exindex.co |
| Blacklisted as a Scam by: | CNMV, FSMA |
| Owned by: | N/A |
| Headquarters Country: | UK (allegedly) |
| Foundation year: | 2020 |
| Supported Platforms: | Activ8 |
| Minimum Deposit: | 1,000 EUR |
| Cryptocurrencies: | Yes |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | N/A |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
What About Exindex Regulation?
Exindex is an anonymous brand claiming to have a UK headquarters. All companies in the UK need to have FCA regulation and compensation funds of 730,000 GBP to reimburse potential victims. Upon searching for Exindex in the FCA register, we concluded that the broker is not regulated.
Why Must a Broker Have a License?
Brokers need a license to provide legitimate financial services and be able to refund you in case of issues. The regulator is a third party to whom you can submit evidence and get reimbursed. However, many scheme firms claim to be based in reputable countries such as the UK, Switzerland, or Australia when, in fact, they’re just boiler rooms from Eastern Europe or offshore areas. As such, these firms, including Exindex, have no license and operate illegally.
Besides, we want to invite you to read our recently updated reviews of the scam brokers ApexCrypt,Investing Dream andEmpire FXM. Be chary with these brokers.
Exindex Warnings From Financial Regulators
Not so long ago, the Spanish regulator issued an official warning against Exindex, stating the firm provides unauthorized investment services, including Forex trading.
The same warning was republished by Belgian FSMA.
Traders Reviews About Exindex Scam
The majority of Exindex complaints come from:
- Hungary
- UK
- Italy
- Germany
- Spain
- Greece
It seems that the company targets EU citizens, so be careful when choosing your investment firm.
Supported Trading Platforms – Available Trading Software
Exindex offers Activ8, a white-label platform provided by Leverate. We’ve already mentioned this company as a collaborator of Icorp Securities and Soltechx, both unregulated offshore schemes. Therefore, it’s not hard to conclude that Exindex is the same unregulated fraud.
The platform itself is an advanced WebTrader with a solid choice of charts and indicators. The only issue is that Exindex never bothered to give information about leverage and spread, which may impact your market success and profit.
Everything About Exindex Trading Accounts
Clients can choose between 3 Exindex account types.
Accounts differ in bonuses, trading insurance, trading signals, and more. The firm provided information that insured trading goes from 1:5 to 1:100, but we’re not entirely sure if this can be the provided leverage or something else.
Exindex Range of Trading Instruments & Markets
When it comes to trading instruments, here’s the list:
- Currency pairs
- Commodities
- Indices
- Shares
- Cryptocurrencies
However, keep away from scammers such asGlobal Solution,EmiDeals andZMarket Global. If possible, tell us about your scam experience.
Exindex Deposit and Withdrawal Methods
The broker supports the following payment methods:
- Debit/credit cards
- Neteller
- YandexMoney
- WebMoney
- Wire transfer
- AstroPay
The company reserves the right to charge a 10% dormant fee if your account is not active for over 6 months. Furthermore, there are withdrawal fees of 50 units for wire transfers and 25 units for card withdrawals and electronic payments with an additional processing fee of $10 for the latest method. Also, you will have to pay a levy fee of 10% if you submit a withdrawal request before reaching 200 in turnover.
Exindex’s Scam Bonus Policy
Of course, there’s a Bonus Policy preventing you from even submitting a withdrawal request before reaching 25 times the bonus amount in turnover. Most companies have some requirements to repay the bonus, but a legitimate firm will never ask for something ridiculous like this. For instance, if you get a $100 bonus, you must trade $2,500 to withdraw your funds. Implying that you need to deposit more so that you can reach it. As you can see, it’s just a part of the scheme to make you invest more.
Scammed by Exindex Broker? – Let Us Hear Your Story
If you are a victim of Exindex or a similar bogus broker, let us know. Our chargeback specialists may be able to assist you with the refund process.
But What Is A Chargeback?
This is a way for your bank to recover your stolen money. Since this is a time-limited process, we strongly advise you to start as soon as possible. We’re waiting for you to book a FREE consultation to help you recover your money before the scam firm disappears.