Updated on April 16, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding Exclusive Markets due to the issues we've identified.
Is Exclusive Markets Scam or Legit Broker? ▲
Exclusive Markets falls short of being considered a trusted and reliable trading partner. It operates under the oversight of the Seychelles Financial Services Authority (FSA) with the license number SD031. Such a regulatory body does not belong to the cadre of top-tier regulators, indicating that Exclusive Markets is not bound by the rigorous rules and standards that epitomize stringent regulation. The implications of trading with brokers that are either unregulated or possess offshore licenses are profound, typically involving a substantially increased risk of financial losses. In stark contrast, brokers under the auspices of strict regulatory frameworks are compelled to operate within a framework of transparency and fairness, thereby safeguarding client interests and maintaining the integrity of the financial market.
Exclusive Markets is a brokerage entity that provides traders access to a broad spectrum of markets, including but not limited to FX, Indices, CFD ETFs, CFD Bonds, Metals, Commodities, CFD Stocks, and CFD Cryptos. The broker facilitates trading through Mt4 and MT5 platforms across various modalities such as PC, Web, and Mobile versions, ensuring a versatile trading environment. With attractive offerings like low spreads and a high leverage cap of 1:2000, Exclusive Markets might seem tempting at first glance. However, our comprehensive research has unearthed certain critical concerns regarding the broker's operations:
Insufficient Regulation: The allure of Exclusive Markets' favorable trading conditions is significantly diminished by its inadequate regulatory status. The broker's incorporation under the Seychelles Financial Services Authority (FSA), known for its lenient approach towards offshore brokers, introduces considerable risk due to the potential lack of comprehensive oversight and investor protection.
Market Manipulation Risks: The absence of stringent regulatory oversight, especially in territories known for their lax approach, amplifies the risk of market manipulation. Such manipulation can adversely affect clients' investments, leading to potential financial losses.
Customer Feedback: The feedback regarding Exclusive Markets is a mix of both commendation and criticism. While some traders have had positive experiences, a substantial number of negative testimonials exist, citing issues like problematic withdrawal processes and unsatisfactory customer support.
Overall Exclusive Markets Ranking ▲
Based on our detailed analysis and comparison with over 1000 other brokers, Exclusive Markets does not inspire confidence or merit a favorable rating. The broker's shortcomings in regulatory compliance and the numerous concerns raised by clients necessitate caution. Hence, we assign Exclusive Markets an overall ranking of 1.0 out of 5.
The process of depositing and withdrawing funds is a crucial aspect of a broker's service offering. In the case of Exclusive Markets, the broker's withdrawal process, in particular, has been the subject of numerous complaints. Such issues can severely impact a trader's experience by restricting access to funds and accrued profits.
Exclusive Markets offers trading across both the MT4 and MT5 platforms for multiple account types. An interesting note is that the Shares account type transactions are exclusively carried out on the MT5 platform. The leverage provided by Exclusive Markets can reach an astounding 1:2000 for most account types, with Cent accounts being an exception where leverage is capped at 1:500.
Our exhaustive investigation into Exclusive Markets has culminated in considerable concerns regarding the broker's reliability and regulatory adherence. The singular regulatory oversight by the Seychelles Financial Services Authority, coupled with a plethora of negative client feedback, casts doubts on the broker's trustworthiness. It is, therefore, prudent to opt for brokers that are not only tightly regulated but also have a proven track record of transparency and client satisfaction. Regulated entities, certified by reputable authorities like the FCA, ASIC, or CySEC, often combine reliable service with comprehensive trading solutions, making them preferable choices for traders seeking a secure trading environment.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
Exclusive Markets Review 2024
Hi there, I added 10,850 dollars to my account and made it up to 37,961 dollars. Following the registration of my withdrawal request, the broker first denied it, withheld the full amount of my profit from the account, and prevented me from withdrawing the profit. Despite my repeated attempts to contact both the email broker and the official Telegram support, they have not replied to any of my correspondence and have simply ignored it. Until I denounced them to a company named Email:: lilo__grace__75__(AT)__gmail__.__com ) , which fights fraudulent acts, and which assisted me in getting my money back.I hope all who support the broker are accountable in this case.
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