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EXUN-Gold Review - is it scam or safe?

EXUN-Gold Review - Is exun-gold.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz EXUN-Gold
EXUN-Gold is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

Account type Minimum deposit Maximum leverage Spread
Standard $0 1:200 Around 45 cents for XAU/USD

 

EXUN-Gold is a Hong Kong based broker, offering trading in gold and other precious metals. Their entire website offers rather few details, but has a lot of sections encouraging you to start trading. Read on, to see why we gave this company such a score.

 

EXUN Gold Advantages

 

Proven platform (MT4) 

One of the few things we liked about EXUN is the trading software. MetaTrader4 is a long-standing solution, which is respected by a lot of traders. It’s main strong sides are the high quality charts, mobile and web versions and support for automated trading systems. Here is a preview of the platform, as offered by this broker:

 

The MT4 platform at EXUN-Gold. Only spot metals are available.

 

>>Find an MT4 broker, offering more instruments<<

 

No minimum deposit 

This is factor which will definitely benefit smaller clients. A lot of brokers set minimum requirements (ranging from $50 to thousands) for the creation of a new account, which can leave some traders our. Be sure to only risk capital you can afford to lose, whitouth a significant impact on your financial status.

 

1:200 leverage for gold

With such a leverage, most people will be able to use their strategies, when trading at EXUN. Keep in mind, leverage is a double edged sword and will also increase any potential losses you suffer.

 

EXUN Gold Disadvantages

 

Not regulated, interesting claims 

The legal entity behind this brand is E-XUN ASIA COMPANY LIMITED, which is registered in Hong Kong. Additionally an Estonian firm with a similar name acts as their “representative” (more likely a customer support center, for western clients). Neither of them are regulated by the appropriate authorities, but we see a very interesting explanation on why this is the case.

 

“Bullion is not regulated by the Securities and Futures Commission ("SFC") and therefore trading Bullion will not be subject to rules or regulations promulgated by the SFC which includes but is not limited to Client Money rules.”

 

>>Find companies regulated in Hong Kong<<

 

The Hong Kong SFC is a reputable watchdog and it not regulating CFDs sounds absurd. The agency may have not listed a specific document regarding Gold and Metals trading, but all forex and CFD brokers in the country must be registered with them. EXUN does not offer physical delivery of any gold bars or coins, but is a de facto forex broker, which doesn’t offer currency trading. No matter how you look at it, this is an unregulated company.

 

Only metals traded

Other companies similar to EXUN provide a broad range of assets for speculative trading. Forex pairs, stock indices, oil and even Bitcoin are among the things one can trade elsewhere, while this company only offers 12 instruments – four spot metals, against different currencies.

 

Slightly non-competitive spreads

We usually compare the EUR/USD spreads provided by given brokers, as this is the most liquid currency pair. As EXUN only provides precious metals, we took a look at the XAU/USD spreads offered by other companies and found tighter ones. For instance, the FCA-regulated industry leaders at IG offer around 30 cents, while the level at EXUN fluctuates around 45 cents.

 

Trading conditions not disclosed 

We briefly mentioned the lack of information regarding the trading environment in the beginning of the review. We have to mention it again, as the target spreads levels and contract sizes (two of the most important aspects of CFD trading aren’t provided. While we tested the spreads in our demo account, figuring out the exact parameters of each contract will probably take a considerable amount of playing around.

 

No e-wallet payments

The only ways to deposit funds to this broker are Bank Transfer and Credit Card. This isn’t a major concern, like some of the aforementioned points, but may be a problem for some clients. It is particularly interesting in the context of the next point.

 

Offers crypto portfolios

While EXUN’s entire website aims to convince you how solid of an investment Gold is, a single page makes a rapid shift to cryptocurrencies. These are basically the two diametrically opposed asset classes on the global markets – one has been used as a store of value fore ages, while the other is a newly created alternative payments system. The service they propose is investing in one (or multiple) of the “portfolios” they have created. No details are given, except for the coins in each one:

 

The different crypto portfolios offered by EXUN

 

Conclusion

 

EXUN-Gold is an unregulated gold and precious metals CFD broker, allegedly based in Hong Kong. Their claims not to be regulated, due to the fact the local watchdog doesn’t oversee bullion trading sound very unusual. The actual conditions provided, with the lack of other instruments and not that impressive spreads will probably not attract experienced traders. The cryptocurrency offering makes no sense in relation to the rest of the website.

 

The biggest factor for our low opinion of EXUN-Gold is obviously the lack of regulation. When dealing with such a company, one always has a level of counterparty risk – the risk of not being paid back. When trading with a well-regulated entity this factor simply doesn’t apply, as they are legally forced to make a payment, whenever you send the order.

 

>>Browse our list of FCA-regulated brokers here<<

 

The UK’s Financial Conduct Authority (FCA) is a globally respected watchdog, which we often like to give as an example. All brokers registered with it have to obey very strict rules, including but not limited to:

 

a) segregation of client funds – all the traders’ capital is held separate from the company’s own balances.

 

b) participation in the Financial Services Compensation Scheme (FSCS) – this is similar to an insurance pool, where all brokers periodically pay a premium and the collective funds are then used to compensate clients, in case one of them becomes insolvent.

 

The key points about EXUN-Gold one more time:
 

Pros Cons
Proven platform (MT4) Nor regulated, interesting claims
No minimum deposit Only metals traded
1:200 leverage for gold Slightly non-competitive spreads
  Trading conditions not disclosed
  No e-wallet payments
  Offers crypto portfolios

 

 

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Traders` reviews for EXUN-Gold

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