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Exallt Review — Scam or Legitimate Forex Broker
Exallt is a forex and CFD broker that offers its services over the internet. Founded in 2023 by a team of professional traders and industry experts, the broker cites honesty, professionalism, transparency and technology as the underlying principles guiding brokerage operations. More than 100 financial assets can be traded on its platform. The platform supports order management, market analysis, social trading and features some other tools.
Exallt offers top assets for trading and investing. From established industries to booming new-age up-and-comers — pick from over a dozen ways to make a smart investment. Trade Forex, commodities, cryptocurrencies, indices, and stocks of the world’s leading companies across various industries.
Exallt delivers an unrivalled user experience. When developing Exallt, they focused on the needs of every trader. By thorough analysis of the needs of beginners and seasoned traders, they provide simple interface, extensive tool kit meeting the needs of every trader, blazing fast market execution time, and ultimate security,
On its website, Exallt states that Fluxlogy LLC, company number own Exallt: 2255 LLC 2022 and registered address at the first Floor, First St Vincent Bank Ltd Building, James street Kingstown.
As a new broker, it is yet to meet the requirements of a regulatory authority, but Exallt has implemented the security standards just like the top brokers.
Clients’ funds are kept in segregated accounts and never used by Exallt except to fund traders’ positions. The segregated funds are maintained only in the highly-rated international banks. Several firewalls and SSL encryption have also been installed to strengthen the trading environment’s security further.
Exallt continually detects, assesses, monitors, and controls each risk associated with platform users’ trading transactions, operations, and actions.
They apply a model that keeps our clients’ funds separate from the company funds. In the unlikely event that Exallt would ever enter liquidation, the clients’ funds are wholly segregated off the balance sheet and cannot be used to cover the company’s debts and pay back creditors.
REACHING THE TOP EU BANKING INSTITUTIONS
Exallt partnered with payment service providers to work with numerous banks worldwide, including central tier-one banks such as Barclays, HSBC & Deutsche Bank.
Exallt accounts can be opened within a few minutes. All required is to complete the registration form found on the Exallt website. After filling out the state, a live account is opened and logged into the clients’ area. From there, you can upload your ‘Know your customer (KYC) documents, monitor your account, fund your account and commence the opening of trade positions.
Exallt states that traders from the USA and other restricted jurisdictions cannot register.
Exallt Trading instruments
Exallt offers its clients the access to speculate on various financial assets via contracts for differences (CFDs). Traders can open positions on over 40 currency pairs, two cryptocurrencies, more than 100 stocks, indices, precious metals and commodities.
Exallt Account types
Exallt has three account types designed with the aim of accommodating all levels and types of traders. They are as follows:
- Test account is for new traders who do not want to risk much because they are still learners. It is a beginners account. $5000 or its equivalent is needed to open a Test account. Leverage is capped at 1:100.
- The standard account is the standard account for experienced traders. To open a Standard account, you need a minimum deposit of $25,000, and leverage is 1:200 max.
- Pro account is designed for high volume traders who also trade frequently. You will need at least $100,000 to open this account. The leverage is capped at 1:300.
Demo accounts are automatically created with every registration. It comes with virtual funds meant for trading practice. Islamic faithful can apply for their accounts to be converted to an Islamic account, which does not incur swap fees when open positions are left overnight.
Exallt.io accounts can be maintained in USD, EUR and GBP. The broker does not charge commissions. Instead, its trading fees are incorporated into the ask-bid spread. Typical spreads for the forex majors start from 2 pips.
Deposit and withdrawals with Exallt
Exallt does not charge commissions on deposits and withdrawals, but any surcharges incurred are transferred to the trader’s account. Below are the payment options:
- Bank wire transfer is often a popular method because it is available to everyone and can move unlimited funds between banks from any location in the world. However, it is slow because it takes 2-7 days before the deposit or withdrawal is completed.
- Debit or Credit cards are the fastest method of funding your account because the payment is processed instantly.
- Cryptocurrency: If you have Bitcoin , you can use digital coins to fund your account.
Exallt.io processes all withdrawal requests within one business day.
Education and trading tools
To help beginner traders with some knowledge resources, Exallt has a few articles on its website. The focus is on financial markets analytical methods, leverage, margin and forex trading strategies.
The Exallt.io trading platform incorporates social trading, which involves replicating the strategies of an expert trader by a newbie or investor. New traders can opt-in for social trading, access the leaderboard and choose an expert trader to copy. Whenever the expert trader opens positions, his trades are automatically copied to the investor’s account. This allows him to make profits without doing anything.
When you need to ask questions or resolve any issues, the client support desk is available on a 24/5 basis. You can make a phone call, send them an email or fill out the contact us form available on the Exallt.io website.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. Concerning margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that these products’ methods, techniques, or indicators will be profitable or will not result in losses.