Exnova Review

What is Exnova?

Exnova is an online broker offering a range of financial services. It provides access to over 250 instruments including company shares, forex pairs, ETFs, commodities, and potential crypto options.

It can be found at: exnova.com

When choosing a broker, consider factors such as regulation, trading conditions, available markets, and customer support. A reputable broker should be transparent about its fees and services.

The first thing you should check before investing online is whether the company is regulated by a top-tier regulator.

Regulation helps protect investors and ensures a level of oversight and accountability.

Is Exnova Licensed by a Major Regulator?

Exnova is not licensed by any top-tier regulator. Investing with companies not authorized by your local regulator is risky. In case of a dispute, you may not be able to seek assistance or legal recourse from your local authorities, leaving you with limited options.

Exnova operates without regulation from an offshore jurisdiction, increasing the risk of investment loss and limiting legal recourse in case of disputes.

The lack of transparency is also concerning as we were not able to find the phone number of Exnova.

The best way to protect your investments is to avoid dealing with unregulated companies. For your safety, we recommend engaging with firms that are licensed by top tier regulators such as the Financial Conduct Authority.

You may come across companies that are regulated by low-tier regulators, often from offshore locations, providing less oversight and enforcement capabilities.

In case of a dispute with the company, you may not receive the same level of protection as if it was licensed by a major regulatory body.

Key Broker Information

Trading Conditions and Account Options

Exnova offers multiple account types with varying features:

Leverage and Spreads

Premium accounts may offer spreads as low as 0.1 pips, while Standard accounts start at around 1.2 pips. Spreads for other instruments can be higher.

Payments and Withdrawals

Trading Platform and Tools

Exnova’s platform is simple and accessible on desktop and mobile. It includes:

• A clear interface
• Risk management tools (Stop Loss, Take Profit, Trailing Stop)
• Social features to view market sentiment and chat with other traders
• Educational resources such as video tutorials and guides

Warning Signs of Unregulated Companies

When dealing with unregulated brokers like Exnova, watch for:

• Unsolicited Calls/Emails: High-pressure communications.
• Pressure to Deposit More Funds: Urging additional investments with unrealistic promises.
• Withdrawal Issues: Delays or unexpected fees when withdrawing funds.
• Frequent Domain Changes: May indicate instability or attempts to evade oversight.

Online Reputation and Transparency

Exnova’s online reputation is mixed. While some users appreciate the low entry deposit, simple design, and availability of a demo account, many report significant issues. Numerous reviews mention that funds can become blocked or frozen during withdrawal attempts, and there are frequent complaints about poor customer support.

The absence of a clear contact phone number adds to the transparency concerns. Given its unregulated status, these issues make many traders advise caution when dealing with Exnova.

Final Thoughts

Exnova offers a range of trading options and account types, making it accessible for beginners and traders with smaller budgets. However, its unregulated status, negative online reviews, and reports of withdrawal issues are serious risk factors.

Investors should conduct thorough research and carefully weigh these risks before deciding to trade with Exnova.