As it seems, Exallt has been operating under the name Fluxlogy LLC. This company has been registered in Saint Vincent and the Grenadines and with this in mind, you can already predict what comes next.
Important to note is that numerous warnings connect this company to RJM Financial Services. Most likely, their predecessor owner. Nevertheless, our unbiased Exallt review brings all the necessary details to the light of the day.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings From: | FSMA, CNMV, IOSCO, A-TVP, Finanstilsynet, FI |
| Registered In: | Saint Vincent and the Grenadines |
| Operating Since: | 2023 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | 1:400 |
| Minimum Deposit: | $5.000 |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptos, forex, indices, shares, commodities |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | After numerous warnings published against this firm, the only way to withdraw the funds is via a refund. It might be more complicated than usual since the company is using crypto transfers and that’s why we suggest you talk to our refund specialists for first steps consultation. |
Legal Info: Is Exallt Legit Or A Scam?
Since the company offers a UK phone line, it most likely presents itself to be from the UK. You will see that it is targeting mostly Europe and Canada. That’s why we are checking top-tier regulatory databases from those areas, such as FCA, BaFin, FMA, ASIC, and IIROC.
Thus, it didn’t take long to realize this company has never been regulated. Therefore, whatever funds protection they are talking about, you may forget it. After all it’s not surprising there are numerous negative Exallt reviews. But also warnings from trusted authorities, such as CNVM, FSMA, A-TVP, Finanstilsynet, FI and IOSCO.
Who Are Exallt’s Victims?
Generally speaking, through the company’s reviews and website traffic, it’s easy to determine who are their victims. Those mostly come from countries like:
- United Kingdom
- Bulgaria
- Austria
- Canada
- Germany
But don’t think you are safe if you are coming from any other place. These swindlers have no limitations. Further proof can be found in our Victoria Coins review. But if any of these got your money, don’t hesitate to reach out for advice.
Traders Reviews
If we disregard regulations and low transparency, there is still proof of the Exallt broker scam. Primarily Trustpilot reviews. Currently, there are only 24 comments, and more than 60% negative. It’s not surprising since the company was registered in 2023.
Nevertheless, reading those comments can give you an idea of what to expect from this firm. Primarily manipulations with Exallt WebTrader, withdrawal problems, and no response from their support. Yet, with all these issues, you can still get your money back if you know the right steps. And if you want to find them out, send us a message right away.
Leverage, Commissions, Spreads, Fees and Taxes
One of the signs this company can’t operate in Europe is its leverage of up to 1:400. For a reason, European regulators and ESMA limit the leverage to 1:30.
Important to realize is that none of the other trading conditions are revealed, such as swap rates, commissions, etc. At least we know traders can expect fixed, floating, and variable spreads. Yet, we are not sure how big those are.
Bonuses
On the positive side, without bonuses available, there’s one thing less to prevent your Exallt withdrawal. That’s a conclusion based on the company’s presentation.
However, if you get any bonus offers along the way, hopefully, you will remember not to accept them. If you do, be sure there will be withdrawal problems.
Exallt Trading Features
The company presents its platform as the smarter, clearer, and smarter way to trade. Thus, once you complete the Exallt login procedure, you will realize it’s too far away from that.
Most importantly, this broker doesn’t offer any advanced features whatsoever, such as EAs, copy trading, or social trading. Unfortunately, not even hedging, scalping, and netting are possible with such a mediocre platform.
Trading Platforms Available
We have to give credit to the company because they have developed a desktop application. There’s a download option available besides the mentioned WebTrader.
But ask yourself, is downloading software from a fraudulent website a smart move? Definitely not. That’s why we advise you to download only third-party tools like cTrader or MetaTraders. Again, with licensed brokers.
Available Trading Assets
As can be seen, tradeable assets with this brokerage are quite standardized. Even the TBX Capital scam broker has the same offer. That doesn’t mean anything without a license.
Anyway, you can trade assets like:
- Forex (currency pairs) – USD/AUD, EUR/SEK
- Commodities – gold, platinum
- Shares – MasterCard, Google
- Indices – DAX30, ASX200
- Cryptocurrencies – BCH, LTC, USDC
Account Types
Another huge disadvantage of this broker is Exallt account types. Those will require more and more money, while in return you only get higher leverage and higher maximum trade size. Everything else is the same as with the previous account type.
In any case, the company claims the test account starts with $5.000. But nobody is crazy enough to throw away such an amount of money. Therefore, be careful because they will take even less than that from you.
Anyway, the options are:
- Test – $5.000
- Standard – $25.000
- PRO – $100.000
- VIP – $250.000
Mobile Trading App
Another problem with this firm is the lack of trusted mobile apps. Without iOS and Android apps, brokers can hardly compete with top-tier software solutions. Not to mention that trading via browser has never been a good experience.
Demo Account
If we trust the broker that Exallt minimum deposit is $5k, at least they should offer a demo account. In general, trusted and licensed brokers offer exactly that for testing. Thus, with Exallt scam broker you have to pay before testing.
Education
When it comes to education, this company offers only short articles about a few topics. Practically, it is something completely useless when it comes to trading on real accounts. To sum it up, they don’t have adequate education.
Exallt Withdrawal
One of the key issues with this company is, of course, withdrawal. In the end, it all comes to that. Even if they offer the worst rates and software, if they give you your money, you might stay with them.
Unfortunately, that’s not the case here. Especially because the processing time takes 15 business days. However, with Tier 1 licensed firms, you get a withdrawal within 24 hours.
In any case, such a long time gives them enough time to make an excuse not to approve it. On top of all, they charge €75 for a bank transfer processing fee. Moreover, none of the other fees are not disclosed. So, be prepared for surprises.
Customer Support
It’s hard to know if the company’s support is reliable or not. But one thing is sure. Without regulations, you can’t trust it at all. Anyway, this company can be reached via e-mail and phone line. Most likely useless ones if you are looking for a withdrawal.
Key Information To Consider About Exallt
The only thing you should remember about this firm is that it’s not regulated anywhere. On top of that, there are numerous warnings against their founders. So, you better keep your money safe.
If this, or any other swindler, gets hold of your money somehow, contact our refund experts for consultation. The first meeting is free, and you can start your recovery process today!
FAQ Section
What is Exallt?
Exallt is an offshore brokerage registered in Saint Vincent and Grenadines that has been offering FX and CFD trading services since 2023.
Is Exallt a Legit Broker?
Absolutely not. The company is not regulated anywhere and many regulators issued a warning against them.
How to Get Money Back From a Trading Scam?
You either apply for a chargeback or use alternative refund methods. For detailed advice, feel free to contact our refund experts today.
Source:
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