Exteom Review – How We Exposed exteom.com Trading Scam

What is Exteom?

The broker claims to provide various financial instruments such as Forex, Crypto, indices, stocks, and commodities. They claim that their platform is secure, beneficial for consumers, and allows for easy discovery of “new opportunities.”

We would like to inform you that these guys are not honest, and in this review, we will provide you with the reasons why you should never register or trade with this broker. Exteom is not a broker but a simulated trading platform. Little is known about the company, which suggests that it is likely a website that has never been registered as a business.

Is Exteom Legit or Scam?

Exteom.com is not a transparent broker as they have refused to disclose any executive information on their website. This is a move aimed at protecting the owners while they continue to deceive their clients.

Wirrerium LLC, the company that oversees the operations of Exteom, is registered as an offshore entity based in SVG. This choice of jurisdiction raises concerns since the Financial Services Authority of SVG does not regulate forex trading, as clearly stated on their official website. As a result, trading within the jurisdiction of SVG may not offer the level of safety and regulatory oversight that traders typically seek.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

Exteom: Account Types

Let’s review the types of trading accounts offered by Exteom:

1. Standard Account: It requires a minimum deposit of $250 and offers floating spreads with a leverage of up to 1:30.
2. Premium Account: This account type provides floating spreads without any commissions.
3. VIP Account: It features spreads starting from 1.4 pips and does not charge any commissions.

However, it is worth noting that the broker has not disclosed the minimum deposit amount for the latter two account types. The only information available is that the Standard Account requires a minimum deposit of $250, as mentioned in a complaint on Trustpilot. The website states that the leverage for Premium and VIP accounts can be increased based on the client’s investment capability.

As previously mentioned, the leverage for the Standard Account is limited to 1:30, which adheres to the regulatory restriction imposed by ESMA. However, this alone does not establish Exteom as a legitimate broker. The last two account types may offer even higher leverage.

Such higher leverage can only be justified if the account is classified as a professional account, but Exteom has not made any mention of this. On their platform, we observed that the EUR/USD spread is approximately 2 pips. This spread is wider than the industry standard of 1.5 pips and may make it less profitable for traders. Additionally, only the Standard Account incurs a commission, and the specific amounts remain undisclosed.

What Are the Warnings Issued by Exteom?

Exteom has been included in several warning lists. This trading scam was exposed by the Spanish CNMV on April 24, 2023.

Other regulators, including the Italian Consob, Belgian FSMA, and Austrian FMA, have also issued warnings against Exteom. These actions clearly indicate that Exteom fails to comply with the regulations of the European Securities and Markets Authority (ESMA) within the European Economic Area (EEA) and lacks the necessary MiFID passport required for brokers to offer services in this jurisdiction.

Traders Reviews About Exteom

We turned to Trustpilot to find out what traders think about this broker. The opinions about exteom are not positive. Over 84% of users gave only 1 star to the broker.

Exteom i a SCAM!
Exteom i a SCAM!! When you investigando in them they lock your account so you can’t take out any money. And they trick you to “do investments” in different projects that does’nt exist and make you sent your money to bankaccounts they controle and so you have öost all your money. For me more than 5000.000 skr!!

Date of experience: March 31, 2023

Analysis of The Domain exteom.com

Exteom cannot be trusted because their website is very new. It was actually registered in October 2022 , and it was done anonymously. At the time of the investigation, the domain was only 8 months old. Nevertheless, within 8 months it had managed to be blacklisted by many Level 1 regulators.

• The owner of the website is using a service to hide their identity on WHOIS.
• According to Tranco this site has a low rank.
• High number of suspicious websites on this server.
• The registrar has a high % of spammers and fraud sites.
• This website is (very) young.
• This website appears to be hosted by a company with a bad reputation.

What Steps Should I Take If I Fall Victim to the Exteom Scam?

We understand your concern and distress. The detrimental effects of scams can significantly impact individuals’ financial stability. It’s crucial to take proactive measures to prevent the fraudster from profiting from your loss and to strive to recover your misappropriated funds. We recommend contacting us as soon as possible for effective assistance.

Our committed teams of legal experts are ready and willing to assist individuals in your situation. You can reach out to us at any hour, and we’ll utilize our resources to listen to your concerns and offer expert advice.

Exteom: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about Exteom. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Exteom!