Expo Trust Capital Review: Watch Out this Unregulated Broker

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Expo Trust
  • Regulation
  • Fund Safety
0.5

Summary

The company has tried to win customers’ trust and confidence by claiming to be regulated by the UK’s Financial Conduct Authority (FCA). This financial watchdog has the critical task of regulating forex brokers, among other financial companies. We checked the FCA’s database but couldn’t find the name Expo Trust. Thus, the broker is lying about its registration.

At first, Expo Trust seems like any other investment company in the market today. They offer a convenient trading platform for investors at all levels. This is, however, a good marketing gimmick, and it could only be beneficial if it were true. This broker is nothing like it claims. It is just a typical scammer whose aim is to defraud investors.

Expo-trust.net Review, Expo-trust.net Company

There are numerous honest and trustworthy crypto brokers in the market today. However, the process of obtaining a license is rigorous and capital-intensive. Many shady brokers bypass this procedure and open sham companies. They are not regulated, so traders cannot initiate legal proceedings against them if something goes wrong.

About Expo-trust.net

From the website, we gathered a few things about the company. From what they claim, traders can conveniently buy and sell currencies, bonds, stocks, mutual funds, and other securities. They offer tools like market data, research reports, and customizable charts to enhance the trading experience. They boast over 50,000 clients, $3 billion in assets, and over 20 awards.

Something we found fishy was the promise that if you refer a friend to their company, you will both earn $100 for the referral. Many scam brokers and investment firms use this trick to lure people. Although they have included some customer reviews, verifying their authenticity is problematic. On whois.com, we established that the domain was registered in September 2023 and will expire in 2024. The short duration shows the broker is likely to exit the market soon. Also, they couldn’t have acquired that much wealth within such a short period.

Contact Details

A reputable company should have reliable contact details. In case of an issue, clients should be able to access the firm quickly. Also, the authorities will have an easier time assisting customers if the broker is easy to reach. Having reliable contact details means even having a physical address with a functional office. This way, the clients can have confidence in the investment company since they are handling money, which is very sensitive.

Expo Trust Capital Review, Expo Trust Capital Features

 

Expo Trust has given a phone number and an email as a means of reaching them. They have, however, not given a physical address. This raises serious issues about the transparency of the firm. If indeed they were legit, they would be open about their location. As it is, however, it is hard to trace them if something goes wrong. There are also no social media pages to assist in reaching them.

Expo Trust Regulation Status

The company has tried to win customers’ trust and confidence by claiming to be regulated by the UK’s Financial Conduct Authority (FCA). This financial watchdog has the critical task of regulating forex brokers, among other financial companies. We checked the FCA’s database but couldn’t find the name Expo Trust. Thus, the broker is lying about its registration.

Something else we found disturbing about the broker is that the Bank of Russia cited this shady firm as an unauthorized company. They further warned its citizens against dealing with them to avoid losing money. With such a stern warning, it is clear that the broker is illegitimate and is operating illegally.

Expo Trust Trading Conditions

Before selecting a broker, traders check the minimum deposit requirements, spread, and commission charges. With as low as $1, you can open an account with Expo Trust. Although this is favorable for new traders, the lack of regulation renders the offer meaningless. The spread ranges from 0.5 pips for EUR/USD to 1.4 pips for USD/JPY. The leverage is at 1000:1 for currencies.

This high leverage exposes the broker as a scam. This is because, under the FCA regulations, a broker must not exceed a 30:1 leverage. This broker is thus lying about its regulation status. Giving traders such high leverage puts their accounts at greater risk; hence, many regulators do not allow it.

Final Verdict

With all the evidence tabled against this broker, there is no doubt that they are scammers. Their gimmicks are all aimed at defrauding investors. There are many honest and transparent brokers in the market today. Unfortunately, Expo Trust is not one of them. It only serves as a reminder of why you should not trust all brokers in the market.

As a precaution, even though a broker may claim to be regulated, it is advisable to check reviews about them. They may have issues paying investors on time or even defrauded some in the past. These are serious matters that should warrant further scrutiny before investing in them.

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