Exopip review – 5 things you should know about exopip.com

Beware! Exopip is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Exopip wants us to believe that it represents an innovative forex broker that will help us become big players in the financial markets. But even a superficial inspection of this website gives us plenty of reasons to be suspicious. In this review, we’ll take a detailed look at the reasons why it’s advisable to stay away from Exopip and instead go with a diligently licensed forex broker.

Exopip Regulation and safety of funds

Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

Exopip does not disclose which company is behind this website, which in itself proves that we are dealing with a scam.

In fact, Exopip admits that it is not a regulated broker:

But at the same time, the website provides a contact address in the United Kingdom, a highly regulated jurisdiction.

A check of the UK’s Financial Conduct Authority register confirms that there is no authorised broker using the Exopip brand and domain.

Before investing your money in financial instruments, it is imperative to make sure you do so through a licensed intermediary and not one of the many scammers lurking online.

If you want to trade on financial markets without being scammed, you can turn to some of the legitimate brokers that actually operate from established financial hubs like the UK. These brokers have to meet stringent requirements for financial stability and transparency of operations imposed by the Financial Conduct Authority (FCA).

They must provide clients with negative balance protection and to participate in a guarantee fund that covers up to GBP 85,000 of a client’s investment should the broker go into insolvency. These brokers are also required to keep their clients’ money segregated from their own operating funds in separate bank accounts.

Exopip Trading software

Exopip advertised a web-based trading platform, but we were unable to determine if any trading software was available. The reason is that registering a new account requires an referal code.

Real brokers allow easy Demo account registration. On the other hand, some scammers prefer to handpick their potential victims through online forums and social networks, which is why they do not allow free registration.

If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used trading platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Exopip Trading instruments

When you visit the website of a legitimate broker you will find proposals for different types of trading accounts suitable for investors with different preferences, as well as detailed descriptions of trading parameters – minimum deposit, order execution method, tradable financial instruments, leverage, spread, swap, commissions, etc. The Exopip website lacks detailed information on trading conditions.

Exopip Spreads and cost of trading

If you use the services of a regulated and established broker you will be able to rely on competitive and fair conditions. There is no good reason to put your money on the line with fishy websites like Exopip.

Exopip Maximum leverage

The Exopip website mentions a high leverage of 1:200. It is not possible for a UK licensed broker to offer such risky levels of leverage.

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Exopip Deposit and withdrawal methods

Due to our inability to register an account, we were unable to ascertain what payment methods Exopip. uses. Experience has shown that fraudsters direct their potential victims to cryptocurrency transactions that do not allow refunds to be requested.

While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

Exopip Minimum deposit

The Exopip homepage lists a minimum deposit of 10,000 USD, but in the FAQ section of the website we see a more reasonable amount of 250 USD. In any case, it would be wiser to open an account with a legitimate broker. The leading brands in the industry offer starter accounts with a very low minimum deposit.

Exopip Withdrawal requirements

Exopip does not specify special conditions for withdrawal. But these types of scams always surprise you with hidden fees and other tricks that prevent you from withdrawing your money back.