Broker Name: Expochains
Broker Type: Forex & CFDs
Operating since year:
Regulation: FCA, FSCS
Address: ExpoChains Ltd, 2 Rue des Dahlias, 1411 Luxembourg, Business center in Luxembourg City
Broker status: Active
Email: [email protected]
Languages: English, French, German
The Trading platforms: MetaTrader 4, MetaTrader 5
Trading platform Time zone: /
Demo account: No
Mobile trading: Yes
Web-based trading: Yes
Other trading instruments: Yes
Minimum deposit: $250
Maximal leverage: 1:1000
Spread: Floating From 0.0 Pips
Scalping allowed: Yes
- First Impressions
- Fund and Security
- Account Types
- Trading Platform
- Trading Asset
- Additional Information
- Final Verdict
ExpoChains Review: Brokerage firm with a bright future
Numerous decisions might be made for you by the brokerage of your choice. A trustworthy broker will ensure you enjoy the safest and most successful trading sessions; in contrast, a shady broker will try to swindle you and steal your hard-earned money.
However, how do you go about locating a reliable brokerage? This is when we step in. Regardless of how big or little a broker is, we consistently review them and provide you with our frank assessment of their offers.
We’ll perform another broker examination today and give you the ExpoChains review. We will go over everything from the broker’s regulatory safeguards to its customer service and deposit/withdrawal options. So stay tuned and join us as we assess ExpoChains’ credibility.
Funds and Security
Since complete information is given to registered dealers, there may be a shortage of knowledge in this area. However, it appears that ExpoChains allows most payment options, including bank wire transfers, any VISA or Mastercard, ExpoChains withdrawals, and deposits.
The broker does not charge fees for deposits but depending on the withdrawal method chosen by the trader; withdrawal fees may take on a variety of forms. The broker’s only commission fees known to charge for wire transfers are the bank’s fees, typically greater than $20. Processing times vary based on the form of payment; while using debit/credit cards can be immediate, it can potentially take up to a few hours. Bank wire transactions, however, may take 3-5 working days.
It’s time to get to account types in our ExpoChains review. There are five account types available at this brokerage firm. The following are the names of the said account types: Bronze, Silver, Gold, Premium, and Black. The first four account types are retail, and the black account is tailored; it’s a more elevated VIP experience.
The amount you deposit with the broker will determine all of the broker’s accounts, which include several different ones. The different account types include black, premium, silver, gold, and bronze. There is a minimum deposit requirement for 10,000, 25,000, 50,000, and 100,000 dollars, respectively. Additional features are added to an account at each progressively higher level, improving the clients’ trading experience. Although some people might find this a little irritating, having a tiered structure like this is not terrible. The traders can stay secure in their deals by requiring clients to deposit only the amount they feel comfortable spending and shutting them out of higher tiers. They won’t be able to take on more risk than they can bear, preventing them from suffering significant financial losses. Conversely, people that trade profitably are given more tools and better investing options.
The ease of maintaining statistics is a crucial benefit of WebTrader. You can take a snapshot of the chart straight from the browser. To examine your trades, it is convenient to preserve these screenshots. History always makes it easier to discover errors. Screenshots are used for this. You can identify many errors and fix them afterward by going back and reviewing them.
The ability to add text comments to the chart is another useful feature missing on expochains.com. This is incredibly useful. Because you can make notes directly on the WebTrader chart when you flip over the screen and notice something; otherwise, you’ll undoubtedly forget what you observed and why you opened the transaction.
Many options are available to suit every trader’s preferences, including more than 1000 products from the ExpoChains Forex broker, including forex, cryptocurrencies, stocks, indices, commodities, and currency indices. Over 60 currency pairs are accessible on expochains.com, one of the world’s biggest, busiest, and most volatile financial markets.
The broker’s maximum leverage is 1:1000, and for the Razor account type, the variable spread can start at 0 pip on key currencies. The most thrilling financial market of the present is where millions of traders trade digital currencies, starting with Bitcoin and moving on to Ethereum, Ripple, Dogecoin, and other cryptocurrencies that the broker offers.
The spread varies depending on the currency and the kind of account, and the leverage offered on cryptocurrencies can reach 1:2 for retail accounts and 1:10 for black accounts. Financial broker ExpoChains makes several hundred companies’ shares available for trading by providing stock CFDs of more than 600 companies worldwide. These companies are based in the US, the UK, Australia, and Europe.
The greatest leverage available to traders is 1:5, and the market and company have different variable spreads. Traders have access to the NASDAQ, S&P 500, UK 100, and more than 20 additional indices from North America, Africa, Asia, and Europe.
The greatest leverage available for retail CFDs on indices is 1:20, and spreads vary depending on the account type and the index in question. Trading commodities, including precious metals, minerals, natural gas, and crude oil, is perhaps one of the oldest kinds of trading. ExpoChains broker offers access to more than 15 different commodities.
Leverage on a license can be as high as 1:20, but the spread varies and can be as low as 0.05 on certain commodities, such as gold. While not many financial brokers provide currency indexes for trading, ExpoChains provides the US Dollar, Euro, and Japanese Yen indexes. The spread is 1 for the Euro and Japanese Yen indexes, while the leverage is 1:5, and the spread is 6 for the USD.
We started reading various ExpoChains reviews written by real consumers, which showed that the broker has a good reputation among its users. But let’s assume that all of these assessments are sponsored for the sake of argument. In that case, we are left to evaluate the security features independently.
Recall how we warned you about the dangers of using high leverage rates for your account. Evidently, ExpoChains is aware of this risk as well and offers powerful negative balance protection. It shields your positions against catastrophic losses: if you open a leveraged position and the trade goes against you, there’s a chance you may entirely run out of money.
You are not at risk from such a thing if you have negative balance protection. The software will automatically close out your position when your account balance approaches 0 and prevent you from incurring further losses.
Account segregation is a further crucial method of fund safety. Your money won’t be kept on the ExpoChains balance when you make a deposit. You would be put in jeopardy due to the abuse: the broker could have paid out its other clients with your money during the financial crisis or something similar.
Instead, the funds are kept in separate bank accounts. The broker won’t mishandle your money if a reputable bank houses it. As a result, you can relax knowing that ExpoChains is keeping your money secure.
Let’s now discuss the consumer compensation fund. According to our ExpoChains review, the broker was previously approved as a reliable brokerage. Given the information listed above and a verifiable license, we think ExpoChains is a trustworthy broker. It makes an effort to keep your money as safe as possible. In conclusion, selecting ExpoChains as your trading partner is a wise decision.
ExpoChains Review: Final Verdict
You can get decent information regarding how trading with this broker is carried out on the ExpoChains website. It has a contemporary appearance with attractive color schemes and other elements.
We should note, however, that certain information is a little challenging to find. For instance, you must visit the FAQ area to learn more about commission rates. Given that, we cannot hold ExpoChains accountable for withholding information from you.
You can quickly create a retail trading account during the initial ExpoChains login process, which gives you many trading advantages. For instance, choosing your desired base currency and trading platform are simple choices in the registration window.
Additionally, the broker lets you choose a swap-free account if you are Muslim. Since Islam forbids trading or engaging in any activity that incurs an interest charge, Forex brokers go above and beyond to satisfy such demands. So, if you’re a carry trader constrained by your religion, don’t fret; ExpoChains has you covered.
Additionally, you can create a demo trading account. It lets you practice your newly acquired abilities while trading in a simulated market. Additionally, even seasoned traders can benefit greatly from using this account while switching from one market or trading approach to another.
We also discovered that ExpoChains has a respectable range of trading software. Traders can also use the ExpoChains demo versions of WebTrader. When a broker offers a WebTrader version, we are always thrilled since it gives them the most flexibility. All things considered, we have discovered that signing up with ExpoChains is unquestionably useful.