Read our Exobit review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is an exobit.io review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Exobit is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Exobit in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.
Exobit Review Conclusions
Making the Exobit review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Exobit review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
What’s even funnier for me is that they were the ones to call me. I found it completely strange because I never signed up on this trading website with a broker named Alex before and they claimed I did and that I have an account with them.
So I played along, because why not.
I understood their game within a few minutes. Especially because I didn’t sign up with them, to begin with, they used the excuse of sending me emails to set up my account. I told them again and again that I wasn’t receiving any emails from them. How strange! Then they offered me a temporary password to log in. I logged in and took a look around the trading platform. Seemed well structured as any trading platform should be, but their main concern was the deposit button. They advertized that a lot and were telling me all-things-positive about what would happen if I deposit. I said not today, I will research first. Then they began quoting about all the success that comes with taking that life-changing risk. I simply said risk becomes even riskier if you’re not careful and calculative about it-you don’t take a leap without knowing where to land. At this point he realized I wasn’t the usual victim, so he turned around and said “no pressure, we’ll call you again after you’re ready and you have researched. That’s when the real adventure begins!”
Red flags everywhere, right? It doesn’t end there.
I decided to look at the “account” that I apparently created. Wrong date of birth. But that’s okay those weren’t the alarm bells. I found there was no way to change the password.
I THINK THAT I WAS SCAMMED NOW THAT I HAVE READ YOUR REVIEW. I DON’T KNOW HOW TO WITHDRAWAL MY MONEY BACK. I ONLY INVENTED $250US BUT THEY WERE TRYING REALLY HARD TO GET ME TO INVEST $2000. I AM LOOKING AT MY PROFILE AND THEY ALSO HAVE MY DATE OF BIRTH WRONG. CAN YOU PLEASE HELP ME TO TRY TO GET MY MONEY BACK. I SENT MY MONEY BY INTERAC E-TRANSFER
this side is %100 scam guys.they are taking your money and never give you back.fraud fraud …they are just pushing you guys to give more money and all fake trading platforms and they never give your money back..if you want your money back they are starting to make you loose your money on fake trading platform…dont even give $250 US becouse that is starting game… also stay away from RBC MARKET is same SCAM trader..
EXOBIT.IO and RBC MARKET web trader %100 SCAM and FRAUD company….
Also newer let them go ANYDESK to your computer becouse they are hacking your computer and everything…
Scammers located in Kyiv, Ukraine Вознесенський узвіз 23в. кв. 33 They also Fxtbrokers.com and Igmholdings.com which is located behind embassy of Peru in Kyiv ( entrance in black gates, probably changed place, in other office in Kyiv, now because reviews.) Stay away and know that СБУ protect them for a good corruption !
They scammed people with fxtbrokers.com and now just changed site to Igmholdings.com they are also Exobit.io , Bitstarmarkets.com , Charing Cross Group.com , EverFX.com Gmotrading all is located in Kyiv Ukraine, and others. And when they read reviews they changing location in Kyiv (Owners from Israel and Georgian) All is fake, they steal money and scam, NEVER INVEST MONEY ! All Security services and Police know about them but Ukraine is high level of corruption ! Number of one of the owner from Israel +97250 forty seven 456 zero two.
I have been scam by these scammers in the tune of $12,500 ….they are good . My account grew to $30, 000 and when I ask to draw out my initial investment, that was the last time they phone me and now my account is being emptied and there nothing I can do to stop it. Tried to call the Exobit phone number and all you get is the busy signal. So call managers have deleted me . What gets me also that they used Canadian phone numbers.
I just cant believe that I was this stupid.
Beware, Exobit.io is a Total fraud. I lost more than $10,000. they just keep asking you transfer more and more. at the end they will loose everything in one shot and your account will be Nil. Its a big scan and waste of time. Stay away from this company.