Overview of Exor Company
Exor Company, established in 2020 and based in New Zealand, operates as an unregulated entity, providing access to a diverse range of market instruments including cryptocurrencies, forex, and precious metals. The platform offers multiple account types, such as Classic, Realistic, Progressive, Strategic, Boost, and Evolve, accommodating various investment preferences. Users can benefit from a maximum leverage of up to 1:500 and competitive spreads starting from 0.1 pips, with a fee structure operating on a zero-commission model.
Despite its diverse offerings and user-friendly platform, Exor's lack of regulatory oversight poses a significant drawback. The absence of clear regulatory information raises concerns about transparency and accountability, leaving users exposed to potential risks.
Is Exor Company legit or a scam？
Exor Company operates without regulatory oversight, raising concerns about transparency and accountability within the exchange.
Unregulated platforms lack critical safeguards and legal protections, leaving users vulnerable to potential risks like fraud, market manipulation, and security vulnerabilities. The absence of regulation may hinder conflict resolution and dispute settlement, making it challenging for users to seek intervention. Additionally, the lack of oversight creates a less transparent trading environment, making it harder for users to accurately assess the exchange's legitimacy and reliability.
Pros and Cons
Pros:
1.Diverse Market Instruments: Exor offers a wide range of trading instruments, including Forex, cryptocurrencies, and precious metals. This diversity allows traders to access various markets and diversify their portfolios, potentially capitalizing on different market conditions.
2. Spread Out Globally: The platform's accessibility allows traders from various regions to participate. This global reach ensures broader market exposure and potential trading opportunities for a more diverse clientele.
3. User-friendly Platform: Exor employs a user-friendly trading platform, such as MetaTrader 5 (MT5). This intuitive interface provides traders with easy navigation, robust charting tools, and advanced functionalities, enhancing the overall trading experience.
4. 24/7 Expert Support: The platform offers round-the-clock expert support to assist traders with their queries or concerns. Access to timely assistance ensures that traders can seek help regardless of their time zone, fostering a supportive trading environment.
Cons:
1.Not Regulated: One of the limitations of Exor is the lack of clear regulatory information. A platform's regulatory status provides traders with a level of assurance regarding the adherence to financial standards and client protection.
2. Limited Market Analysis and Insights: The platform might lack comprehensive market analysis tools or insights. Access to detailed market analysis helps traders make informed decisions, and the absence of such tools might limit strategic planning.
3. Deposit and Withdrawal Fees: Exor might impose fees for deposits and withdrawals, impacting traders' overall profitability. Clear information about these fees is essential for traders to manage their costs effectively.
4. Limited Information on Expert Solutions: While Exor may offer expert solutions, the lack of detailed information or transparency about these solutions could be a drawback for traders seeking specific or advanced trading features.
Market Instruments
Exor Company distinguishes itself through diverse trading assets, pioneering crypto, forex, and precious metal markets with expertise and innovative technology.
Crypto Trading:
Since 2012, Exor has led the charge in cryptocurrency trading, employing Artificial Intelligence (AI) and advanced trading bots. These intelligent systems decode market patterns and execute trades swiftly, ensuring profitability. Integrating human expertise with automation curates a balanced trading experience, minimizing errors and optimizing strategies for success. The 24/7 crypto market flexibility allows global opportunities for rapid returns and portfolio diversification.
Forex Trading:
Specializing in the Forex market, Exor offers access to major currency pairs like EUR/USD, USD/JPY, GBP/USD, and USD/CHF, alongside 'commodity pairs' such as AUD/USD, USD/CAD, and NZD/USD. Operating 24/6 with substantial liquidity, this market empowers traders with instant transactions and real-time rates. Leveraged positions amplify gains and losses, necessitating risk management tools provided on the Exor platform.
Precious Metals:
Venturing into precious metal trading, Exor acknowledges the enduring value of gold, silver, platinum, and palladium as safeguards against economic uncertainties. Integrating AI-driven insights and experienced trading strategies, Exor extends its success into this domain, aiming to offer growth and security to investment portfolios.
Funds Management:
Exor manages funds across crypto, forex, and precious metals, allocating resources in ratios designed to optimize growth and minimize risks. Detailed pie graphical representations of these ratios are available, showcasing the meticulous management of investment assets.
Account Types
Exor's Investment Plans offer a spectrum of tailored tiers, accommodating diverse financial capacities for prospective investors.
Classic Plan: Invest between $50 and $5,000 with an ROI of 1.50%. Earn parallel income of 8% within an encashment period of up to 160 days.
Realistic Plan: Invest from $5,001 to $20,000 for a 1.70% ROI and 8% parallel income within a 160-day encashment period.
Progressive Plan: Invest between $20,001 and $50,000, earning a 1.90% ROI and 10% parallel income, encashable within 160 days.
Strategic Plan: Invest $50,001 to $100,000, securing a 2.10% ROI and 10% parallel income, with an encashment period of up to 160 days.
Boost Plan: Invest $50 to $20,000, yielding between 1.40% and 1.8% ROI and 8% parallel income, encashable within 160 days.
Evolve Plan: Invest from $20,001 to $100,000, earning between 1.80% and 2.20% ROI, with 10% parallel income within a 160-day encashment period.
How to Open an Account？
Here's a step-by-step guide on how to open an account with Exor:
Step 1: Visit Exor's Website
Access Exor's official website using a web browser.
Step 2: Navigate to the Account Opening Section
Locate and click on the “Open an Account” or “Sign Up” option. This is typically positioned prominently on the homepage.
Step 3: Fill in Personal Information
Complete the registration form with accurate personal details, including full name, email address, contact number, and residential address. Ensure the information provided is correct to expedite the verification process.
Step 4: Choose Account Type
Select the desired account type based on your investment preferences and financial capabilities. Exor offers various account tiers such as Classic, Realistic, Progressive, Strategic, Boost, and Evolve. Make your selection based on the offered features and investment ranges.
Step 5: Verification and Documentation
Submit any required documentation for verification purposes. This may include identification documents (passport or driver's license) and proof of address (utility bills or bank statements). Ensure these documents comply with Exor's specified requirements.
Step 6: Fund Your Account
After successful verification, deposit funds into your newly created account. Exor typically offers various payment methods, such as bank transfers, credit/debit cards, or digital payment platforms. Choose the most convenient method and follow the instructions to fund your account.
Completing these six steps should facilitate the process of opening an account with Exor, allowing you to begin your investment journey with them.
Leverage
As Exor offers a maximum leverage of up to 1:500 for trading on their platform. This leverage ratio allows traders to control a larger position size in the market with a relatively smaller amount of capital.
However, it's important to note that while leverage can amplify potential gains, it also magnifies potential losses, and trading with high leverage involves significant risk. Traders should exercise caution and implement risk management strategies when utilizing leverage in their trades on Exor's platform.
Spreads & Commissions
Exor offers competitive spreads starting from as low as 0.1 pips for certain trading instruments. This implies that for those particular assets, the difference between the bid and ask price can be as narrow as 0.1 pips, providing traders with potentially favorable pricing when entering and exiting positions.
As for commissions, Exor operates on a zero-commission model, meaning they do not charge any explicit commissions on trades. This fee structure can vary based on account types, trading instruments, and market conditions, but generally, Exor does not levy additional commission fees per trade, allowing traders to focus on potential profits without the burden of extra charges per transaction.
Trading Platform
Exor utilizes the MetaTrader 5 (MT5) platform, renowned for its advanced trading features and user-friendly interface. The MT5 platform offers a comprehensive suite of tools and functionalities tailored for traders:
1. Multi-Asset Support:
MT5 supports trading across various asset classes, including Forex, stocks, commodities, and cryptocurrencies. This diversity allows traders to access a wide range of markets within a single platform.
2. Advanced Charting Tools:
The platform offers advanced charting tools with multiple timeframes, technical indicators, and drawing tools. Traders can conduct in-depth technical analysis to make informed trading decisions.
3. Algorithmic Trading:
MT5 supports algorithmic trading through Expert Advisors (EAs) and automated trading strategies. Users can create, test, and deploy automated trading systems based on pre-defined parameters.
4. Market Depth and Analysis:
Traders have access to market depth information, allowing them to assess the liquidity of assets and make more informed trading decisions. Real-time market analysis tools assist in identifying trends and potential entry/exit points.
5. Mobile and Web Compatibility:
The MT5 platform is accessible via web browsers and mobile applications, enabling traders to monitor and manage their positions on-the-go.
Exor's utilization of the MT5 platform provides traders with a robust and versatile trading environment, offering a suite of tools and features designed to enhance trading experiences across various markets and asset classes.
Deposit & Withdrawal
Exor offers a variety of payment methods for deposits and withdrawals, including Bitcoin, USDT TRC20, TRON, Perfect Money, Litecoin (LTC), Ripple, and USDT BSC Chain. This diverse range of payment options allows users flexibility in funding their accounts and withdrawing their earnings, catering to different preferences within the cryptocurrency ecosystem.
Payment Processing Time: Withdrawal requests on Exor are subject to specific processing times. For trade withdrawals, requests can be made on the 3rd and 18th of every month within a specific time window, from 7:30 PM to 2:30 AM as per New Zealand server time. Bonus withdrawals (commission) can be requested every Saturday during the same time frame. The processing time for these withdrawals can vary but is typically completed within a reasonable timeframe following the request, ensuring swift access to funds for traders.
Customer Support
Exor's customer support operates from their Auckland, New Zealand location at 4 Williamson Avenue, Ponsonby, Auckland 1021. For inquiries or assistance, they can be reached via email at support@exorcompany.com or info@exorcompany.com. They offer multiple contact numbers for different regions: +447452234891, +6498018680, and +12543130169. This multi-channel approach ensures accessibility for clients worldwide, providing avenues for quick and comprehensive support across various communication platforms.
Educational Resources
Exor provides a range of educational resources to support traders:
Knowledge Base:
Exor offers a comprehensive knowledge base comprising articles, guides, and informative content covering various aspects of trading. This resource equips users with insights into market analysis, trading strategies, risk management, and platform functionality.
Video Tutorials:
The platform provides video tutorials covering diverse topics related to trading. These tutorials offer visual and step-by-step guidance on using the platform, understanding market trends, executing trades, and employing various tools available on the platform.
FAQs (Frequently Asked Questions):
Exor maintains a detailed FAQ section addressing common queries and concerns raised by users. This section covers a wide array of topics, including account setup, deposit and withdrawal processes, trading procedures, technical assistance, and more. It serves as a quick reference guide for users seeking immediate answers to common inquiries.
These educational resources aim to empower traders with the knowledge and skills necessary to navigate the trading landscape effectively and make informed decisions while using the Exor platform. For the most updated and detailed educational materials, users can access the resources directly through the Exor platform or website.
Conclusion
Exor presents a diverse trading environment with a wide array of market instruments and a user-friendly platform, fostering accessibility and potential market reach for traders globally.
However, the absence of clear regulatory information and limited market analysis tools pose challenges, potentially impacting traders' strategic decision-making and overall confidence in the platform. While the 24/7 expert support enhances accessibility, the platform's undisclosed deposit and withdrawal fees, along with limited transparency on expert solutions, might deter traders seeking comprehensive information and cost-effective trading. Despite these drawbacks, Exor's diverse offerings and user-friendly interface stand as compelling factors, albeit needing further clarity and enhancements in certain areas for a more robust trading experience.
FAQs
Q: Is Exor regulated？
A: Exor's regulatory status isn't explicitly disclosed, which may raise concerns for some traders.
Q: What markets can I trade on Exor？
A: Exor offers Forex, cryptocurrencies, and precious metals among its trading instruments.
Q: Are there deposit or withdrawal fees on Exor？
A: Exor may impose fees for deposits and withdrawals, but the specific details aren't clearly outlined.
Q: Does Exor provide market analysis tools？
A: Detailed market analysis tools on Exor might be limited, impacting strategic decision-making for traders.
Q: How user-friendly is the Exor trading platform？
A: Exor employs a user-friendly platform, enhancing ease of use and navigation for traders.
Q: What customer support options are available on Exor？
A: Exor offers 24/7 expert support, ensuring traders can seek assistance at any time.
