Explore Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-08-09 17:50

Abstract：Explore is a brokerage firm registered in Latvia. This firm's regulatory status is suspicious clone because its actual company name does not match with the one on the regulatory certificate. And its website maybe has been shut down for years. There are some complaints and negative reviews about this broker, which make this broker untrustworthy to trade with.

　　Note: Explore's official website: https://apk14.global-exptrade.com/ is currently inaccessible normally.

Explore Information

　　Explore is a brokerage firm registered in Latvia. This firm's regulatory status is suspicious clone because its actual company name does not match with the one on the regulatory certificate. And its website maybe has been shut down for years. There are some complaints and negative reviews about this broker, which make this broker untrustworthy to trade with.

Is Explore Legit？

Regulatory Status	Suspected Fake Clone
Regulated by	ASIC
Licensed Institution	EXPLORE PTY LTD
Licensed Type	Common Business Registration
Licensed Number	65 080 679 303

　　Explore's regulatory status is suspicious clone. From the certificate, we can see:

Licensed Institution: EXPLORE PTY LTD

　　But the name of company provided by this broker is “explore”. This inconsistency shows that they're providing false licenses to deceive traders.

Downsides of Explore

Unavailable Website

　　Explore's official website is currently not working. Maybe it's time to find another brokerage.

Lack of Transparency

　　You can only find limited information about this brokerage online.

Regulatory Barriers

　　Explore's regulatory status is suspicious fake clone. Before choosing a brokerage, remember to consider the risk involved.

Negative Explore Reviews on WikiFX

　　On WikiFX, “Exposure” is posted as a word of mouth received from users.

　　Please review this information before opening account with this brokerage. And you can consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.

　　As of now, there are seven pieces of Explore exposure in total. I'll introduce two of them.

　　Exposure 1. I've topped up but can't withdraw

Classification	Unable to Withdrawal
Date	June 10, 2024
Post Country	Indonesia

　　The user said:“I've topped up but can't withdraw.” You may visit: https://www.wikifx.com/en/comments/detail/202406109652539628.html

　　Exposure 2. Cannot withdraw money from the account

Classification	Scam
Date	May 1, 2024
Post Country	Indonesia

　　The user said:“Cannot withdraw money from the account.” You may visit: https://www.wikifx.com/en/comments/detail/202406109652539628.html

Conclusion

　　There are plenty of negative reviews about this brokerage on WikiFx. Its regulatory status, inaccessible website and these reviews on WikiFx are all signals showing that this brokerage is untrustworthy. It is better to choose regulated brokers with transparent operationsto ensure the safety of your investment. When comparing brokerages, keep the potential risks firmly in mind.