exchange-en.com is a contract for difference (CFD) broker, with its domain registered on August 19, 2024. The broker targets both retail and institutional clients, offering trading services for financial derivatives, including forex, precious metals, commodities, energy products, stocks, and indices. It does not provide services to jurisdictions where doing so would violate local laws or regulations.
Corporate Registration Information and Regulatory Status
Public information on the exchange-en.com website states that the company is part of the XM GLOBAL PTY LTD group, which has multiple subsidiaries. It claims to have licenses from several regulatory authorities, including the Australian Securities and Investments Commission (ASIC) (Trading Point of Financial Instruments Pty Limited), the Cyprus Securities and Exchange Commission (CySEC) (Trading Point of Financial Instruments Ltd), the Belize Financial Services Commission (FSC) (XM Global Limited), and the DFSA (Trading Point MENA Limited). However, apart from the homepage, the other pages on the broker's website do not exist and cannot be accessed properly.
Upon investigation, it has been found that exchange-en.com is, in fact, a fraudulent broker website that neither has a corporate entity nor any regulatory oversight. The company's website mentions, the regulatory information, brand icons, and trading names used are all stolen from the official website of the well-known broker XM.
Trading Instruments
exchange-en.com offers a variety of financial derivatives for trading, including forex, precious metals, commodities, energy products, stocks, and indices.
- Forex: The exchange of different countries' currencies, the largest financial market globally, primarily used for currency exchange and speculation.
- Precious Metals: Such as gold and silver, used as investment vehicles for value preservation and hedging against inflation, whose prices are typically influenced by economic uncertainties and inflation.
- Commodities: Covering raw materials and agricultural products like oil, natural gas, copper, soybeans, and wheat, with prices influenced by supply-demand dynamics and global economic conditions.
- Energy: Including oil, natural gas, and coal, sensitive to global economic and political events, with significant price fluctuations.
- Stocks: Represent partial ownership of a company, allowing investors to gain profits (dividends) and value growth (capital appreciation) by purchasing shares.
- Indices: Indicators reflecting the overall performance of the market, such as the S&P 500 Index, Dow Jones Industrial Average, and NASDAQ Composite Index, with index fluctuations reflecting overall market trends.
Account Opening Process
Testing showed that attempts to open an account on exchange-en.com by clicking the "OPEN AN ACCOUNT" link fail to redirect properly, with the redirect page showing as non-existent. Therefore, the normal process of account opening cannot be completed.
Trading Accounts and Platforms
The types of trading accounts offered by exchange-en.com cannot be accessed as its respective page fails to open properly. Although the title page claims to offer MT4 and MT5 platforms, details pages also fail to open.
Deposits and Withdrawals
exchange-en.com does not clearly disclose its supported deposit and withdrawal methods, related fees, or minimum deposit/withdrawal amounts on its website.
Conclusion
Traderknows reminds investors that exchange-en.com is actually a new scam website that fraudulently uses information from the official website of the well-known broker XM and has not yet completed its site construction. Investors are advised to choose brokers with transparent information, strict regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
