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No valid regulatory information, please be aware of the risk!
+1 (469) 251 0018
General Information & Regulation
EXON Markets is allegedly a suspicious regulated forex and CFD broker registered in Vanuatu since 2017 that claims to provide its clients with over 200 tradable financial instruments with the default leverage of 50:1 and floating spreads from 0.5 pips on the MT5 iOS, Android, Web and Desktop trading platforms, as well as a choice of seven different live account types. Here is the home page of this brokers official site:
As for regulation, EXON Markets says it is regulated by the (VFSC) Vanuatu Financial Services Commission. But in reality, it has been verified that the broker does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.28/10. Please be aware of the risk.
EXON Markets advertises that it offers access to more than 200 trading instruments in financial markets, including 140+ forex currency pairs, commodities, oil, cryptocurrencies, indices, stocks and CFDs.
Apart from demo accounts with a balance of $10,000, EXON Markets claims to offer seven types of trading accounts, namely Standard, Bronze, Silver, Gold, Platinum, Premium and VIP, as well as Islamic accounts. The minimum initial deposit amount is extremely high-$500 for the Standard account, while the other six live account types have much higher minimum initial capital requirements of $1,000, $3,000, $5,000, $10,000, $25,000 and $50,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. Note that demo trading accounts are limited to 1 month and after this period, the demo account will be deactivated.
EXON Markets website states that the default leverage for forex transactions is 50:1. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
EXON Markets claims that the spread starts from 0.5 pips and commission is free of charge.
Trading Platform Available
Platforms available for trading at EXON Markets are MT5 iOS, Android, Web and Desktop. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
EXON Markets says to accept deposits via cryptocurrencies, Neteller, Skrill, Klarna, iDEAL, giropay, Perfect Money, Visa, MasterCard, Wire Transfer, AVOPayments, eft Pay, Volt, CASH, LOAD, Jeton and GIGADAT, while the withdrawal methods are except iDEAL, Volt, CASH and GIGADAT. The minimum initial deposit requirement is said to be $500, while there is no mention of what the minimum withdrawal amount is. The maximum deposit and withdrawal amounts differ depending on the methods. The broker also says that there is no deposit fee charged.
As for the processing time of deposit and withdrawal requests, Wire Transfer deposits require 3-5 business days to be processed, GIGADAT deposit requests are said to be processed within 30 minutes, while other deposits are instant. Withdrawals take a minimum of 3-5 business days upon completion of compliance requirements. For wire transfers, it may require more time.
EXON Markets customer support can be reached Mon-Fri 8:00-24:00 (GMT+3) by telephone: +1 (469) 251 0018, email: firstname.lastname@example.org or live chat. You can also follow this broker on social networks such as WhatsApp, Twitter, Facebook, Instagram, YouTube and LinkedIn. Company address: Rue De Paris, Port-Vila, Vanuatu.
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
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