Caution! Exptrades is an offshore company! Your funds may be at risk.
Exptrades Key Facts
🔴 Exptrades offers questionable investment opportunities – a clear sign of a scam!
🔴 Exptrades forges crucial contact information – beware!
🔴 Exptrades lacks any license for the provision of its services – a huge red flag!
🔴 Exptrades’ domain has been registered only recently – another off-putting detail!
Exptrades products and services
Exptrades is yet another high-yield investment scam – the company offers incredible returns on deposits, starting from 15% daily. This is much more than what any legitimate institution can provide you – Exptrades is simply trying to pocket your deposits.
People should always be cautious when dealing with businesses offering enormously high yields because it’s scammers’ trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it’s a scam, so beware.
Exptrades company and regulation
Exptrades is not a licensed company – we checked with the US authorities, since Exptrades would like us to believe it has an office in Louisville KY, but they had no information on the company.
The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.
While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to.
Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.
Exptrades address and contacts
Exptrades provides the aforementioned US address – 9900 Corporate Campus Drive Louisville KY 40223. It is fake, as the company is not licensed to deal in the States, but there have been other scammers in the past who have tried to use the address – the ones we have reviewed can be found below:
Transparency is crucial when talking about brokers and investment companies, and it’s part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it’s generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company’s legitimacy.
Exptrades website info
Exptrades is operating from a website that has only been around since September 2020 and is not popular enough to be featured on SimilarWeb – the lack of traffic and the recent domain are two of the most common scam signs.
Another fact that compounds our belief that Exptrades is a scam is the fact that its owners have breached the principles of transparency so thoroughly that they have even concealed their identities from WhoIs lookups.
What’s more, the domain is hosted on the 184.108.40.206 IP address – there are over 30 other scam domains on there, the ones we have reviewed already found below:
We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority.
However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.
Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.