Beware! Expo Trust is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
The Expo Trust website could mislead that this is indeed an established forex broker. But even a basic fact-check reveals that behind the convincing facade lies yet another online scam. In this review, we’ll show you how to distinguish fake brokers from credible financial service providers.
Expo Trust Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
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.
Expo Trust is completely anonymous. Neither the website nor the text of the Terms and Conditions and other documentation mention a company name. Because of this anonymity there is no way to believe the claims that this broker is based in the UK and regulated by the Financial Conduct Authority (FCA).
We do not find a licensed broker using the Expo Trust name and domain in this regulator’s database.
Another European financial regulator, the Bank of Russia, has blacklisted Expo Trust as an unauthorised company.
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.
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.
Expo Trust Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Expo Trust implements a web-based trading platform. While this platform has the basic functionality to place orders, it cannot compare to the capabilities provided by MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It is no coincidence that these platforms have established themselves as the industry standard. 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.
It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.
Expo Trust Trading instruments
Expo Trust offers trading in all major asset classes, including currency pairs, commodities, equities, indices and cryptocurrencies. The latter is further evidence that this is not a licensed broker operating in the UK. The FCA prohibits domestic brokers from offering crypto derivatives trading to retail customers.
Expo Trust Spreads and cost of trading
In the trading platform we see a raw spread of 0.2 pips, which means that the broker charges a commission. But Expo Trust does not specify what the amount of this commission is.
Expo Trust Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
Expo Trust offers very high leverage up to 1:1000. 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.
Expo Trust Deposit and withdrawal methods
|Deposit time||Withdrawal time||Price|
|Credit card||Instant||24 hours||Not specified|
|Crypto||24 hours||24 hours||Fee depends on crypto|
Expo Trust allows deposits via cryptocurrencies and credit cards, but the payment processors used are unknown and suspicious.
Expo Trust Minimum deposit
Expo Trust requires a minimum initial investment of 1,000 USD. For as little as 10 USD you could open a starter trading account with a reputable and properly regulated broker.
Expo Trust Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Expo Trust||Not specified||Not specified||Not specified|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
Expo Trust does not specify extraordinary 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.