EXCO Review: Scam Or Legit? | Find Out Here 2024

EXCO
Earn your financial freedom with a regulated broker
Is EXCO a scam? Are they legit? Find the answers to all these questions and more in this guide.
Summary

EXCO is a major forex broker and has received a lot of praises from Intelligence Commissioner users. They have established themselves as an industry leader.

EXCO Forex Brokers provides traders with the resources they need to confidently manage the complexity of the forex market by focusing on individualized tactics, practical tools, and ongoing education. Whether you are a beginner trying to learn the fundamentals or an experienced trader searching for advanced methods, EXCO’s products can help you reach your trading objectives while avoiding risks and maximizing possible returns.

We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:

1

Key Takeaways

EXCO has several major red flags
EXCO website owner is anonymous
Vague terms of service
2

Is EXCO Regulated? Do They Have a License?

The world of forex trading is wide and complex, with countless earning prospects and several hurdles. Choosing the correct broker can significantly improve a trader’s success. EXCO Forex Brokers have been popular among traders due to their commitment to delivering a thorough and friendly trading environment. This study delves into the multiple benefits provided by EXCO Forex Brokers, focusing on their risk and money management tools, account protection policies, and educational materials. These features aim to empower traders, decrease risks, and enhance long-term trading success.

EXCO Homepage


In the fast-paced world of forex trading, risk and money management are critical to success. Many traders, particularly beginners, underestimate the value of these tactics, which can result in severe financial losses. EXCO Forex Brokers prioritizes these factors by providing comprehensive tools and methods to help traders efficiently manage their risks and finances.

EXCO Forex Brokers offers a complete range of risk and money management tools to help traders navigate the complexities of the forex market. These tools assist traders in limiting potential losses and optimizing their trading performance.

EXCO provides thorough risk management instructions, which include approaches for evaluating ideal position sizes, placing stop-loss orders, and managing trades. These tips are intended to assist traders in protecting their accounts from catastrophic losses while also maintaining financial stability during periods of market volatility. Effective risk management requires proper position sizing. EXCO’s platform provides position sizing calculators, which help traders calculate the best size for each trade based on their risk tolerance and account balance. This tool assists traders in avoiding overleveraging their positions and ensuring that they do not risk more than they can afford to lose.

EXCO provides tools to help traders estimate the risk involved with each trade. Traders can make informed decisions and adapt their methods by assessing prospective losses and gains before to initiating a position. This proactive approach to risk management helps traders avoid making rash judgments that could result in big losses. Effective trade management entails monitoring open positions and modifying strategy as necessary. EXCO’s platform contains capabilities that enable traders to establish alerts, adjust orders, and close positions in response to market conditions. These tools assist traders in being aware and responsive to shifting market conditions, hence lowering the possibility of unexpected losses.

EXCO Forex Brokers provides a complete and helpful trading environment that focuses on risk and money management, account protection, and education. EXCO strives to build a secure and empowering environment conducive to long-term success by giving traders with the tools, resources, and expertise they need to trade well.

In an uncertain and volatile market, EXCO Forex Brokers’ benefits give traders with the steadiness and support they require to prosper. By focusing on risk management, account protection, and education, EXCO enables traders to make informed decisions, protect their accounts, and achieve long-term success in the volatile world of Forex trading.

Checking the regulatory status of a forex broker is essential. However, there are multiple tiers of regulation as well.

Some popular regulatory authorities include FCA and CFTC.

Whether its EXCO or another forex broker, it’s best to check if they are regulated by one (or more) of these authorities:

Commodity Futures Trading Commission (CFTC) – United States:

The CFTC is an independent agency of the U.S. government that regulates the futures and options markets. It also oversees the forex market, particularly ensuring the integrity of transactions and protection against fraud and manipulation.

National Futures Association (NFA) – United States:

The NFA is a self-regulatory organization for the U.S. derivatives industry, including on-exchange traded futures, retail off-exchange foreign currency, and OTC derivatives. It ensures that every firm or individual conducting futures and forex business with the public must be registered and must comply with strict standards.

Financial Conduct Authority (FCA) – United Kingdom:

The FCA is a financial regulatory body in the UK that oversees financial markets, including forex. It ensures that financial markets operate with integrity and that consumers are protected.

Australian Securities and Investments Commission (ASIC) – Australia:

ASIC is an independent Australian government body that acts as Australia’s corporate regulator. It oversees financial markets and services, ensuring that financial markets are fair and transparent, and it also regulates forex brokers.

Financial Services Authority (FSA) – Japan:

The FSA in Japan oversees banking, securities, and exchange, as well as insurance sectors to maintain the stability of Japan’s financial system. It regulates forex trading and brokers to ensure the protection of investors.

Swiss Financial Market Supervisory Authority (FINMA) – Switzerland:

FINMA is responsible for financial regulation in Switzerland. It oversees banks, insurance companies, and financial markets, including forex brokers, ensuring they operate within a secure and transparent framework.

Cyprus Securities and Exchange Commission (CySEC) – Cyprus:

CySEC is the financial regulatory authority of Cyprus, which is a popular jurisdiction for forex brokers. It supervises and controls the operation of the Cyprus Stock Exchange and regulates forex brokers to ensure compliance with international standards.

Investment Industry Regulatory Organization of Canada (IIROC) – Canada:

IIROC oversees all investment dealers and trading activities on debt and equity marketplaces in Canada, including the forex market, ensuring that firms adhere to high standards of conduct.

Monetary Authority of Singapore (MAS) – Singapore:

MAS is the central bank and financial regulatory authority of Singapore. It oversees various financial institutions and markets, including forex, ensuring they are well-regulated and stable.

Financial Sector Conduct Authority (FSCA) – South Africa:

The FSCA is responsible for market conduct regulation and supervision of financial institutions in South Africa, including forex brokers, to ensure fair treatment of customers and the integrity of financial markets.

These regulatory bodies play a crucial role in maintaining the integrity of the forex market by enforcing rules and regulations, ensuring transparency, and protecting traders and investors from fraudulent activities.

Checking the regulatory status of brokers like EXCO is quite beneficial. It inspires trust in the brand.

3

Trading Conditions and Deposit/Withdrawal Methods at EXCO

EXCO Forex Brokers emphasize the need of disciplined trading in achieving long-term success. Their risk and money management tactics are intended to promote consistent, deliberate trading behaviors rather than pushing traders to seek rapid returns.

EXCO Trading Conditions


Many traders are enticed to make high profits by taking on too much risk. EXCO cautions against this approach, emphasizing the need of making consistent, gradual advances over time. By focusing on disciplined trading, traders can steadily develop their accounts while avoiding the drawbacks of high-risk tactics. A well-structured trading strategy is critical for being disciplined in the forex market. EXCO urges traders to develop and follow a thorough plan including their objectives, risk tolerance, and methods. This strategy acts as a trading roadmap, assisting traders in remaining focused and avoiding rash judgments.

Forex trading demands patience and consistency. EXCO’s instructional resources and tools are intended to instill these attributes in traders, encouraging them to stick to their tactics even under volatile market situations. Traders can achieve long-term success while avoiding the emotional highs and lows that come with short-term trading.

Recognizing that each trader has distinct needs and preferences, EXCO Forex Brokers provides bespoke money management solutions based on individual trading styles and risk tolerances.

Money management tactics vary depending on the trading strategy, such as scalping, day trading, or swing trading. EXCO provides information on numerous ways, allowing traders to choose tactics that are appropriate for their trading style and goals. Traders’ risk tolerances vary depending on their financial status and expertise level. EXCO works with traders to create risk management programs that are tailored to their specific needs and limits. This tailored strategy ensures that traders understand their risk exposure and may trade with confidence.

Market conditions are continuously changing, thus traders must be prepared to adjust their strategy accordingly. EXCO’s platform and resources give traders the freedom to change their money management strategies in response to changing market conditions. This adaptability is critical for sustaining profitability and reducing risks over time.

Integration of Risk Management Principles

EXCO Forex Brokers takes a comprehensive approach to trading, combining money management tactics with larger risk management ideas. This integration guarantees that traders are not only focused on developing their accounts, but also on safeguarding them against poor market situations.

By combining money management and risk management, EXCO assists traders in developing a holistic strategy that handles all areas of trading. This technique decreases the possibility of catastrophic losses while encouraging consistent account growth. EXCO urges traders to use stress testing and scenario analysis to assess the potential impact of different market occurrences on their portfolios. These exercises assist traders in identifying vulnerabilities and making informed decisions on risk management and position sizing.

Risk management is a constant activity that necessitates regular monitoring and adjustments. EXCO’s platform includes capabilities for tracking performance and making modifications to trading strategies based on real-time data. This proactive technique enables traders to keep ahead of market trends and reduce potential dangers.

One of the most notable advantages of EXCO Forex Brokers is their positive account balance protection policy. This regulation is intended to protect dealers from accumulating negative balances, adding another layer of financial security.

The forex market is noted for its volatility, with sharp price swings that can result in large wins or losses. EXCO’s account protection mechanisms are intended to protect traders from the adverse effects of unanticipated market movements.

EXCO assures that traders’ accounts never go below zero, even during times of significant market volatility. This protection is especially useful for new traders who may lack the necessary experience to effectively manage major market movements. By minimizing negative balances, EXCO assists traders in maintaining financial stability and avoiding the stress and uncertainty that comes with owing money to their broker. This function is especially useful during periods of market volatility when traders are more vulnerable to huge losses.

Knowing that their accounts are safeguarded from negative balances gives traders peace of mind and allows them to concentrate on their trading methods without concern of acquiring large debts. This security encourages a more confident and disciplined attitude to trading.

Financial Stability and Security

EXCO Forex Brokers prioritize their clients’ financial stability and security by enforcing regulations and practices that safeguard traders from excessive risk and loss.

EXCO’s platform features margin call and stop-out settings to assist traders in managing their risk exposure. These features automatically terminate positions when account equity falls below a predetermined level, saving traders from losing more than their available margin. Leverage can raise profits, but it also increases the risk of major loss. EXCO advises traders on how to utilize leverage responsibly and helps them control their leverage ratios to prevent taking on too much risk. EXCO follows strict regulatory guidelines to protect the safety and security of customer cash. Their devotion to compliance gives traders confidence in the broker’s integrity and dependability.

EXCO Forex Brokers is committed to empowering traders via education. They provide a comprehensive selection of instructional materials aimed at increasing traders’ knowledge and skills, allowing them to make more informed decisions and increase their trading success.

EXCO’s educational tools span a wide range of topics, from the basics of forex trading to sophisticated tactics and approaches.

For beginners, understanding the fundamentals of forex trading is critical for laying a solid foundation of knowledge. EXCO offers resources on crucial issues such market terminology, currency pairs, and trading platforms. These resources assist beginning traders acquire confidence and prepare for more complicated trading methods. Experienced traders might profit from advanced educational materials that cover complex trading tactics and strategies. These tools offer insights into technical analysis, fundamental analysis, and market psychology, allowing traders to hone their abilities and improve their performance.

EXCO’s instructional materials offer a heavy emphasis on risk and financial management. Traders learn about effective risk management tactics, position size, and trade management, which allow them to preserve their assets and achieve long-term profitability. EXCO provides tools for market analysis and insights to help traders stay up to date on current trends and developments. These materials include daily market updates, economic calendars, and expert opinion, which provide traders with the information they need to make sound judgments.

In addition to traditional instructional resources, EXCO offers interactive learning possibilities, allowing traders to communicate with professionals and peers.

EXCO holds frequent webinars and workshops on a variety of trading topics, involving industry professionals and seasoned traders. These events provide useful information and allow traders to ask questions and participate in conversations with professionals. EXCO provides mentorship programs for traders who want personalized training and support. Experienced mentors help traders improve their abilities, adjust their tactics, and achieve their trading objectives. EXCO fosters an online community where traders can join, share their experiences, and exchange ideas. This group encourages traders to learn from one another and collaborate on trading methods.

The forex market is always changing, so traders must keep informed and adaptable to win. EXCO’s dedication to education ensures that traders have access to current knowledge and resources, allowing them to keep on top of market trends and changes.

EXCO’s teaching materials and resources are frequently updated to reflect forex market changes and developing trends. Traders have access to the most recent information and insights, ensuring that their knowledge is current and relevant. EXCO encourages traders to be versatile and imaginative in their trading strategies. By establishing a culture of continual learning and development, EXCO assists traders in remaining competitive in the ever-changing FX market. EXCO’s purpose is to increase traders’ confidence and competence through education and support, allowing them to make educated decisions and achieve their trading objectives. This emphasis on education enhances traders’ long-term success and contentment.

You should always check the trading conditions of a forex broker.

That’s primarily because they have a direct impact on your potential returns. Moreover, each forex broker such as EXCO has distinct trading conditions.

A major part of checking the trading conditions of a broker is to verify their deposit and withdrawal methods.

In the case of EXCO withdrawal, you can see that there are multiple options available.

It makes them accessible to traders. Furthermore, it ensures that people can trade freely.

Some major aspects to keep in mind are:

1. Spreads:

  • Fixed Spreads: These remain constant regardless of market conditions. They are generally higher than variable spreads but provide predictability in trading costs.
  • Variable (Floating) Spreads: These fluctuate based on market volatility and liquidity. They can be lower than fixed spreads during normal market conditions but can widen significantly during high volatility.

2. Leverage:

  • Leverage allows traders to control a larger position with a smaller amount of capital. It is expressed as a ratio (e.g., 100:1, 200:1). Higher leverage can amplify both potential profits and potential losses.

3. Margin Requirements:

  • Margin is the amount of money required to open a leveraged position. Brokers set margin requirements based on the leverage ratio. For example, with 100:1 leverage, a $1,000 position would require a $10 margin.

4. Minimum Deposit:

  • The minimum amount required to open an account varies by broker. Some brokers offer accounts with no minimum deposit, while others may require hundreds or thousands of dollars.

5. Trading Platforms:

  • Brokers provide various trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and proprietary platforms. The choice of platform affects the tools, charts, and features available to traders.

6. Execution Methods:

  • Market Execution: Orders are executed at the best available price in the market. There may be slippage, especially during high volatility.
  • Instant Execution: Orders are executed at the price shown on the platform. If the price changes before execution, the order may be rejected (requote).

Keep in mind that shady forex brokers stop making payments and keep the money to themselves. Hence, you should always check the broker reviews to see if the broker’s payment methods work properly.

We recommend working with a reliable and trusted broker.

4

EXCO Customer Service: Do They Handle Complaints Well?

Good customer service is vital for any trader.

You should always check if a forex broker remains accessible to its customers and whether it offers multiple contact channels or not.

The most popular ways for recent customers are live chat and email.

While email is becoming a bit obsolete, it is still among the most common methods for a customer to contact the support staff of a broker.

In the case of EXCO, it’s clear that they offer proper customer support with a significant variety of ways to contact them.

According to multiple users, EXCO’s customer support is quite active and responds promptly to general queries and grievances.

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5

EXCO Reviews: What Do Others Say?

Based on user-submitted reports, most of the EXCO reviews are quite positive.

Customers praise the company for its prompt customer service and trader-friendly conditions.

However, it’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.

While EXCO doesn’t seem like a shady broker, many others rely on fake reviews to increase their credibility.

TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.

That’s why we recommend doing extensive research on forex brokers before finalizing your selection.

It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.

In the case of EXCO, however, we noticed that their reviews are legitimate.

Unlike their competitors, it seems EXCO has put in a lot of resources into providing its traders with specialized customer service. This way, their customers remain happy and satisfied with their experience.

Also, we didn’t notice many significant EXCO complaints. However, if you have any EXCO reviews to share, feel free to contact us or share them in the comment section.

EXCO reviews coverage


You should always look out for consumer complaints. The most common complaints in forex are usually regarding:

  • Poor customer support
  • Delays in payments
  • High fees
  • Lack of transparency regarding their leadership team
  • Aggressive sales staff

Do you have a similar complaint about EXCO? You can share your complaint in the comment section or submit an anonymous tip.

6

Is EXCO Legit Or a Scam?

EXCO is a regulated entity. They are licensed and operate under the watch of a major financial regulator.

EXCO


So, it’s clear that EXCO is a legit forex broker.

You should avoid working with unregulated brokers. The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind the unregulated broker can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.

However, that’s not the case with EXCO. It’s clear in our EXCO broker review that they are a legitimate entity and enjoy a positive reputation in the market.

Can You Trust EXCO?

All the evidence suggests that EXCO is legit. However, we recommend checking out more options before finalizing your choice.

That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of their reliability.

7

Frequently Asked Questions

Is EXCO a scam?

According to the online reviews of this company, it’s clear that EXCO is not a scam. However, we recommend checking out more brokers before before finalizing your decision.

What is the best alternative to EXCO?

We recommend going with our recommended broker instead of EXCO due to their higher experience and specialized technology.

Where is EXCO Located?

There is no information available on the location of EXCO.

Are there any EXCO complaints?

We’ve received a few EXCO complaints from our readers. If you’ve had a negative experience, feel free to write down a comment below or contact us.
8

How Forex Scams Work

Launch a website/app with a generic name

A website or app with a generic name allows scammers to hide behind common Google search results. Marketing such names is easier as well.

Pay influencers & social media pages to promote the scheme

By getting influencers and social media pages to promote their brand, scammers make their shady company seem more legit than it actually is.

Send thousands of emails and make cold calls to potential victims

It’s common for scammers to buy the contact details of people and spam them through email, phone calls, social media messages and other means.

Make victims feel safe through “small wins”

Such small wins usually include a few payments transferred into the victim’s account. This makes them seem more legitimate.

Convince victims into investing large sums of money

Due to the small wins, the victim is now convinced that the company is legit. Now, the scammers try to manipulate the victim into giving them larger sums.

Disable withdrawals & take down the website/app

Once the scammers have received a significant sum, they either stop responding or cite a technical error to freeze their victims’ funds.

Repeat the cycle

After making the money, the scam will shut down and the people running it will launch another and repeat the cycle.

If you’re looking to start trading, we suggest working with our recommended broker. We have reviewed 1000+ brokers and fintech firms and chosen them as our no. 1.
*Forex trading is subject to market risk.
EXCO Review: Scam Or Legit? | Find Out Here 2024
EXCO Review: Scam Or Legit? | Find Out Here 2024

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