Score

1.47 /10
Danger

Explore

Latvia

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

D

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Comparison

Quantity 6

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index6.68

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

More

Company Name

Explore

Company Abbreviation

Explore

Platform registered country and region

Latvia

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 3
Previous Detection : 2024-11-16
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The AustraliaASIC regulation (license number: 65 080 679 303) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Pyramid scheme complaint
Expose
Explore · Company summary

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.

Explore Information

Is Explore Legit?

Regulatory Status Suspected Fake Clone
Regulated by ASIC
Licensed Institution EXPLORE PTY LTD
Licensed TypeCommon Business Registration
Licensed Number65 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.

Is Explore Legit?

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.

Negative Explore Reviews on WikiFX

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

ClassificationUnable to Withdrawal
DateJune 10, 2024
Post CountryIndonesia

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

ClassificationScam
DateMay 1, 2024
Post CountryIndonesia

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.

User Reviews

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User comment

1

Comments

Write a review

dentisy
more than one year
My experiences with Explore's withdrawal process have been consistently frustrating. The first attempt faced issues with insufficient transaction volume due to a bonus receipt. The second attempt was hindered by vague explanations about improper program operation. On the third try, I was told that profit and capital were not proportional to the deposit. Overall, the process lacks clarity and has been far from smooth.
My experiences with Explore's withdrawal process have been consistently frustrating. The first attempt faced issues with insufficient transaction volume due to a bonus receipt. The second attempt was hindered by vague explanations about improper program operation. On the third try, I was told that profit and capital were not proportional to the deposit. Overall, the process lacks clarity and has been far from smooth.
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2023-12-20 19:03
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