Today, we offer you the review of a broker called Exallt. What caught our attention initially was its unique name. Now, together, we will explore whether it is worth paying attention to this company or if it is just another scam.
Table of Contents
Highlights
| 🏛️ Country | St. Vincent and the Grenadines |
| ⚠️ Regulation | — |
| 🖥️ Website | https://www.exallt.io/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2022 |
| 💲 Minimum Deposit | $5,000 |
| ⚖️ Minimum and Maximum Leverage | 1:100-1:400 |
| ⚙️ Trading Platform | WebTrader |
| support@exallt.io | |
| 📞 Phone | +442086382873 |
First Impression of Exallt.io
The official website of Exallt is far from being an exemplary representation of a top-notch broker. The template-like logo featuring four candles and the meaningless texts proclaiming that this broker is superior to all others, guaranteeing success and a new way of trading, leave much to be desired. At first glance, it doesn’t appear that Exallt is capable of bringing anything new to the table. We have seen all of this before countless times. Additionally, the broker’s website is available only in English and Spanish, indicating that it caters to a narrow category of traders.
Partnership and Bonuses
While it is not explicitly stated in the conditions, the presence of a promo code in the broker’s registration form suggests that Exallt may have a partnership program. The lack of information regarding bonuses in the trading conditions further adds to the mystery. It is indeed peculiar that Exallt requires a promo code without providing any explanation or guidance. It seems as though they expect traders to figure it out on their own.
Account Opening on Exallt.io
The standard registration process at Exallt involves entering contact details, personal information, and other relevant data. However, it should be noted that the registration form does not resemble those typically used by licensed brokers. It asks for very minimal information, lacking any substantial details. Surprisingly, neither the phone number nor the email address undergoes verification.
Meanwhile, Exallt insists on the use of a promo code during registration, effectively limiting the registration process. This restriction is concerning as it raises questions about transparency and accountability. Traders should be cautious when a broker imposes unnecessary barriers to registration without providing valid reasons.
Verification
Exallt emphasizes the mandatory nature of the verification process. Upon completing the registration form (if you will be successful), users are prompted to undergo verification. The verification process at Exallt typically involves providing identification documents such as a valid passport or national ID card, proof of address, and possibly additional documents depending on the broker’s requirements. These documents are usually uploaded through the broker’s online platform or submitted via email for review. Maybe, the Client Portal does have such a form.
- Verification is mandatory.
- Registration is limited.
Trading Software
The trading terminal provided by Exallt falls short of delivering a satisfactory trading experience. It lacks the sophistication and functionality expected from a reliable and reputable broker. Moreover, there have been indications of the terminal being predominantly utilized by fraudulent brokers. This raises significant concerns about the platform’s integrity and security, making it an unfavorable choice for traders seeking a robust and trustworthy trading environment.
| Features | Exallt | Impresamarkets | Market Haven |
|---|---|---|---|
| Demo Account | ❌ | ❌ | ❌ |
| Mobile App | ❌ | ❌ | ❌ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With Exallt?
Let’s take a look at the “new” way Exallt proposes for trading. However, it seems that there is nothing particularly groundbreaking here.
All Info About Accounts
The broker offers four types of accounts, starting with the Test account. Curiously, the minimum deposit required for this account is far from being a “test” amount, as you need to deposit $5,000 right away. Interestingly, even some stockbrokers require lower deposits. The Standard account, on the other hand, demands a minimum deposit of $25,000, and it only goes up from there. The Gold account requires $100,000, and the VIP account asks for a hefty $250,000. The spreads can be either fixed or floating, and the leverage increases with the account type. This suggests that the broker does not route trades to the interbank market. In addition, Exallt operates on a B-book model and exclusively offers contracts for difference (CFDs). As you understand, this new trading approach offered by Exallt does not seem particularly enticing or unique.
- None.
- High minimum deposit.
- High leverage.
Market Analysis and Education With Exallt.io
Exallt has a dedicated section for education. However, we wouldn’t say it is particularly valuable. In reality, it consists of general articles explaining the basics of trading, leverage, spreads, and similar topics. We couldn’t find any market analysis from the broker, and it’s not included in their supplementary services either.
Deposit, Withdrawal, and Fees
Exallt offers several funding options, including credit and debit cards, bank transfers, and cryptocurrencies. However, the broker does not specify any commission fees associated with these methods. Additionally, the processing time for withdrawal requests remains undisclosed, leaving clients uncertain about the timeframe. The lack of transparency extends to the available deposit methods within the Client Portal, making it unclear which specific options are supported.
| Features | Exallt | Graystone Venture Capital | TradeCMF |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ❌ | ❌ | ❌ |
| Crypto Transfers | ✔️ | ❌ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ❌ | ❌ |
How Can I Contact It?
Exallt can be contacted through a phone number or email address provided on their platform. However, it is worth noting that the broker only provides a nominal address and does not have a physical office location.
- Full contacts.
- No real office.
Is Exallt Dangerous?
Based on the information provided, it is clear to us that Exallt does not offer anything outstanding. However, there are other issues with the broker as well.
How Long Does The Broker Work?
In the “Why Us” section, the company extensively discusses its advantages without mentioning anything about its history and establishment. To determine when this broker started operating, we had to check its domain registration. It turns out that the domain was registered on March 1st. Furthermore, registration was done through an anonymous registrar. It is evident that such a company is “reliable”, isn’t it?
Moreover, there are only a few articles available online about Exallt. This suggests that it is relatively unknown and caters primarily to beginners.
How Is Exallt Regulated?
Further, we delved into verifying the legitimacy of the broker’s operations. In the website footer, it states that the site belongs to Fluxlogy LLC. This company is registered in the offshore zone of St. Vincent and the Grenadines.
However, offshore jurisdictions often have less stringent financial regulations and oversight compared to reputable financial hubs. This can leave investors and traders with limited protection in the case of fraudulent activities or disputes. Besides, if any legal issues arise with a broker registered in an offshore jurisdiction, it can be challenging for investors to seek legal recourse. The legal systems and mechanisms in these jurisdictions may be less transparent or less supportive of investor rights, making it difficult to resolve disputes effectively.
| Features | Exallt | Lig Broker | TheFinancialCentre |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ❌ |
Frequently Asked Questions (FAQ)
Kevin Berry Well, let me tell you something, mate. For some bloke from Saint Vincent and the Grenadines, Exallt sure is asking for a lot. I mean, come on, a minimum deposit of 5 grand? That’s a hefty sum, especially for a nobody in the trading scene. And don’t even get me started on their other account types. Twenty-five grand for a standard account? Seriously? It’s like they’re trying to squeeze every penny out of you.
They don’t even bother explaining why these accounts are so darn expensive. It’s like they expect us to blindly cough up the cash without questioning a thing. Well, I ain’t falling for that, and neither should you. A reputable broker would provide transparent pricing and reasonable account options.
Exallt rating
3 reviews about Exallt
They deceive in various ways. For example, it’s clear that they offer a personal account manager, mentor, or analyst – call it what you will. This so-called “helper” will assist you in draining your deposit rather than making profits. Deposits here are either made through Bitcoin, which is then drained on exchanges and withdrawn in cash, or through PayPal accounts registered under fake individuals. So in reality, they are anonymous figures you’ll never be able to trace. If you invested money here, rest assured it’s been completely drained, and no one will come to your aid. Neither the police nor investigators, absolutely no one. You are solely to blame if you invested money in a company operating illegally. Interestingly enough, the official website of this scamming sham managed to portray itself as a real albeit offshore company.
This is truly a trashy broker, no doubt about it. Firstly, their official website is an absolute disgrace. Who in 2023 wants to create such a pathetic website, not only in terms of useful and necessary information, but also in such a shabby and outdated style? And when it comes to information, it’s practically non-existent here. I even decided to register in this dumpster fire. They ask for a promo code during registration, by the way. That means there’s probably a hidden referral program in this garbage pit. It’s designed to lure in unsuspecting victims so they can bring in others. I gave up on it right away. They demand a promo code right from the get-go.
In short, I couldn’t find anything decent about this broker. It’s truly a fraudulent den of scammers who couldn’t be bothered to create a quality website or connect to a PROPER trading platform instead of this utter trash.
I was tricked into depositing my hard earned $18343. Never able to withdraw it. They stole my money. This is a scam website. Stay away