EXM Solution – Is it Safe?

Website URL: https://www.exmsolution.com/

Founded: N/A

Regulations: None

Languages: English

Deposit Methods: Unknown

Minimum Deposit: $2,500

Free Demo Account: Available

Number of Assets: N/A

Types of Assets: Currency Pairs, Indices, Commodities, Stocks, Cryptocurrencies

Trading Accounts and Conditions

EXM Solution has the following types of trading accounts on offer for its clients:

• Silver: To open a Silver account you first need to make a deposit of a minimum of $2,500.
• Gold: To trade on a Gold account, you first need to make a minimum initial deposit of $10,000.
• Platinum: To open a Platinum account, you are first required to make a minimum deposit of $50,000.
• VIP: No information is provided about the VIP account.

There is no information given on the broker’s website about the trading conditions. Thus, we do not know what the leverage ratios are, and we also don’t know what the spreads offered are.

EXM Solution – Advantages

Here are the advantages of trading with EXM Solution:

• Range of Assets on Offer

EXM Solution offers you a wide range of trading instruments, such as currency pairs, as well as Contracts for Difference (CFDs) on various assets such as commodities, indices, stocks, precious metals, and cryptocurrencies.

EXM Solution – Disadvantages

Besides the fact that this broker offers its customers a wide range of assets with which to trade, there aren’t any other advantages. The disadvantages of trading with EXM Solution, on the other hand, are many. Here is the list:

• Unlicensed Broker

This broker states that it is owned by a company by the name of EXM Solution Ltd, and on its website, EXM Solution claims that they have offices in the UK as well as Cyprus.

Therefore, the company that owns this broker should be regulated either by the Financial Conduct Authority (FCA) of the UK or by the Cyprus Securities and Exchange Commission (CySEC). However, when we checked the registries on the two authorities’ website, we found that EXM Solution was not on either regulator’s list of licensed brokerages.

• Blacklisted by Swedish FSA

While we were looking for EXM Solution’s regulation status, we discovered that this broker was actually blacklisted by the Swedish regulator, the Financial Supervisory Authority (Finansinspektionen).

The regulator has announced that this broker is a going concern, that EXM Solution is not authorized to offer financial services in Sweden or in any other European Economic Area (EEA).

The FSA has warned all traders against doing business with such brokers.

• Undisclosed Trading Conditions

EXM Solutions, as we mentioned earlier, has not provided any information on its trading costs. We don’t know levels of leverage being offered, or, for that matter, the spreads, fees on commissions or even roll-overs.

Such a complete lack of basic information is a huge red flag, and when you combine this with the fact that this broker is unregulated and in trouble with the law, it clearly shows that EXM Solution is a scammer.

• MetaTrader 4 Platform Not Offered

EXM Solution offers its clients an unproven web-based platform on which to trade. While it may look good on the surface of it, when you look more closely, you realize that key features that make trading easier are all missing.

Most brokers offer their clients support for the MetaTrader 4 trading platform, because it is the best interface currently available for trading. It has a wide range of charting options, market indicators and even automatic trading robots. And the best part is that all of these features are customizable.

A danger of trading on an unproven platform is that the admin panel of the broker can very easily manipulate the interface so that you end up losing money on your trades.

• Extremely High Minimum Deposit Requirement

EXM Solution requires you to make a minimum deposit of $2,500, which is ridiculously high by any standards. On average, most brokers require you to make a deposit of around $100 to $250. In fact, some of the best brokers require you to make only a $5 deposit to start trading.

So, looking at the range in the market, a $2,500 deposit is just extreme.

• Unknown Payment Methods

Once again, EXM Solution has omitted to provide basic information. There is nothing given on this broker’s website about the kinds of payment methods that they support.

At the very least, brokers offer support for payments made via credit/debit cards and bank transfers. Many also offer support for e-wallets such as Neteller, Skrill and so on. Still others also allow their customers to make payments via cryptocurrencies.

However, EXM Solution has not provided details of any of the payment methods they support.

• Bonuses Offered

EXM Solution offers its clients bonus promotions. And the terms of these promotions are seriously unfair – as are all bonus promotions. According to the conditions mentioned in this broker’s website, if you have put in $1000 and have availed of a $200 bonus promotion, then you need to reach a trading turnover of at least 50 lots to be able to withdraw not just your profits but also your funds.

This is a seriously high target that most traders are unable to meet, which means that whatever funds they have invested, and whatever profits they have made will go to waste.

• High Inactivity Fee

EXM Solution also charges an extremely high dormancy fee of $50 per month – if your account has been inactive for 3 months or more. Not only is the fee high, but this broker gives traders a very short window of inactivity before charging the fee. Most brokers wait at least 12 months before charging a relatively nominal fee for inactivity.

Conclusion 

EXM Solution is not a broker that any trader should do business with. It is clearly a scam that everyone should avoid.

EXM Solution

2.6

User Experience

3.4/10

Payment Options

2.3/10

Security

2.5/10

Support

2.4/10

Reputation

2.6/10

Pros

• Range of Assets on Offer

Cons

• Unlicensed Broker
• Undisclosed Trading Conditions
• MetaTrader 4 Platform Not Offered
• Extremely High Minimum Deposit Requirement
• Unknown Payment Methods