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Exobit Company was founded in 2014 with the intention of providing a platform for trading various financial instruments, including cryptocurrencies, forex, and CFDs. The broker has positioned itself as a player in the competitive online trading market.
Exobit claims to be owned by Swelltech LLC. However, there are significant concerns regarding the legitimacy of this claim, as investigations into the Latvian company register have not revealed any entity by that name.
The company claims to be headquartered in Latvia. However, the absence of a registered entity raises questions about its operational legitimacy and transparency.
Exobit operates in multiple markets, targeting traders interested in forex, cryptocurrencies, commodities, and indices. The broker markets itself as a global trading platform, although its regulatory status limits its credibility.
As of now, Exobit is not regulated by any recognized financial authority. The absence of regulation is a significant red flag for potential clients, as it indicates a lack of oversight and consumer protection.
Exobit has experienced a tumultuous journey since its inception. Key milestones include its launch in 2014 and its aggressive marketing campaigns aimed at attracting new traders.
The broker has attempted to expand its offerings by adding various financial instruments, including cryptocurrencies and CFDs. However, its lack of regulatory oversight has hindered its ability to build a trustworthy reputation.
While Exobit claims to have a growing customer base, the actual figures remain unclear due to the absence of transparent reporting. Many reviews suggest that the broker has faced significant customer complaints regarding withdrawal issues and other operational challenges.
Exobit offers a web-based trading platform, which has been criticized for its lack of advanced features compared to industry standards like MetaTrader 4. The platform's development appears to be limited, focusing mainly on basic trading functionalities.
To date, there are no known awards or recognitions associated with Exobit. The lack of accolades further emphasizes the broker's questionable standing within the industry.
Exobit provides access to a limited number of currency pairs, but exact figures are not disclosed. The broker offers high leverage ratios, which can be appealing to traders but also pose significant risks.
The broker claims to offer stock trading options, but specific details about the number of stocks available or the markets covered are not readily available.
Exobit allows trading in Contracts for Difference (CFDs) on various assets, including stocks, commodities, and indices. However, the lack of transparency regarding the instruments offered raises concerns.
Exobit heavily promotes cryptocurrency trading, claiming to provide access to various digital currencies. Additionally, commodities and indices are part of its offerings, but the details remain vague.
The broker claims to provide dedicated account managers and support services. However, many users report challenges in accessing support, raising questions about the effectiveness of these services.
Exobit is not regulated by any recognized financial authority. This lack of oversight is a significant concern for potential clients, as it implies that there are no safeguards in place to protect traders.
The company claims to operate under the name Swelltech LLC in Latvia, but no verifiable information exists to support this claim. The absence of a legal entity structure raises concerns about accountability.
Without regulation, there are no mandated client fund protection measures in place. This lack of security is a major deterrent for potential clients.
Exobit markets itself as a global broker, but the lack of regulation limits its operational scope. Many regions may have restrictions on trading with unregulated entities.
Exobit's compliance history is unclear due to the absence of regulatory oversight. Numerous complaints from users indicate issues with withdrawals and overall service quality.
Exobit faces competition from several established brokers in the online trading space. Notable competitors include:
Exobit positions itself as a cryptocurrency-focused broker, but its lack of regulation and transparency hampers its competitive standing. Established brokers with regulatory backing and proven track records are preferred by traders.
Exobit's primary differentiation appears to be its focus on cryptocurrency trading and high leverage offerings. However, the risks associated with unregulated trading and the absence of advanced trading tools limit its attractiveness to serious traders.
In summary, Exobit Company presents significant risks due to its unregulated status, lack of transparency, and questionable operational practices. Potential traders are advised to exercise caution and consider regulated alternatives to safeguard their investments.
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