Overview of ExolForex.com
ExolForex.com is an online forex broker that offers its clients a range of different trading platforms and services. The company was founded in 2016 and is based in the Seychelles.
The company offers its clients a choice of four different account types, each with its own set of features and benefits. The account types are: Micro, Standard, VIP and ECN.
Micro accounts allow traders to trade in micro lots, which are 1/100th of a standard lot. This account type is best suited for beginner traders or those with a small amount of capital to trade with.
Standard accounts allow traders to trade in standard lots, which are 100,000 units of the base currency. This account type is best suited for more experienced traders who have a larger amount of capital to trade with.
VIP accounts are designed for professional traders who require high levels of customer service and support. VIP account holders also receive exclusive access to certain features and benefits not available to other account types.
Pros and Cons of ExolForex.com
ExolForex.com is a new online foreign exchange broker that has been established in 2016. The company is based in Marshall Islands and is owned by Exol Markets Ltd. The broker offers trading in more than 50 currency pairs as well as CFDs on metals, energies, indices, and cryptocurrencies.
The main advantages of ExolForex.com are:
– low minimum deposit (only $5);
– leverage up to 1: 1000;
– no commissions on deposits/withdrawals;
– fast execution of orders;
– negative balance protection.
As for the disadvantages, they include:
– lack of regulation (the company is not regulated by any financial authority);
– limited choice of account types (only two accounts are available – Standard and ECN);
– high spreads (from 3 pips for EUR/USD).
Traders Ratings for ExolForex.com
Reviews and ratings for ExolForex.com are generally positive, with traders citing the broker’s customer service, low spreads, and fast withdrawals as among its main strengths. There are a few complaints about the platform’s interface and execution speed, but these appear to be isolated cases. Overall, ExolForex seems to be a reliable and trustworthy broker that offers a good trading experience.
Conclusion
Overall, we would say that ExolForex is a reliable and trustworthy broker. They offer a wide range of assets to trade including forex, indices, commodities and cryptocurrencies. The spreads are competitive and the leverage is high at 1:500. Customer support is available 24/7 via live chat, email or phone. Overall, we would recommend ExolForex as a good choice for online trading.