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When considering Exness as a forex and CFD trading broker, it’s important to thoroughly investigate their claims of a diverse portfolio and competitive spreads. However, a deeper examination reveals various warning signs associated with this broker.
Exness is not a licensed broker. It is not regulated by any major financial authority, such as the FCA or the CySEC. This is a major concern for traders as the broker is not subject to the same level of oversight and scrutiny as licensed brokers.
The trust factor is of utmost importance in trading. An unregulated broker, unlike a licensed one, is not under the purview of strict guidelines and standards, thereby increasing the likelihood of unethical practices and potential scams. Furthermore, such brokers may have lenient regulations regarding protecting clients’ funds, making it a less secure option for storing your investments.
Based on the fact that Exness is not a licensed broker and the lack of regulatory oversight, it is hard to say if the broker can be trusted. Additionally, there are several negative reviews online from traders who have had negative experiences with the broker.
Traders have mixed opinions of Exness. Some traders have reported positive experiences with the broker, while others have had negative experiences. Some traders have reported issues with denied withdrawal requests, while others have had slippage and price manipulation issues.
If you have been scammed by Exness, it is important to contact our experts as soon as possible. Our team of experts can help you to recover your funds and take legal action against the broker.