Exilon Markets Review – Is Exilonmarkets.com Scam Or A Good Forex Broker?
| Trading account | Min. deposit | Max. leverage | Spread |
| Fixed Spread | $2 500 | 1:500 | 1.4 pips, fixed |
| PRO | $5 000 | 1:500 | from 0.1 pips |
| VIP | $10 000 | 1:500 | from 0.1 pips + $2 /lot |
Exilon Markets is an offshore broker offering the accounts listed above. Although the trading conditions seem ok and trading is done on the popular MetaTrader4 platform, we don’t recommend this broker as a trading partner. Read the full review to see both the strong and weak sides of this broker and why we ultimately gave them this low score.
Exilon Markets Advantages
Attractive spreads, up to 1:500 in leverage
Exilon Markets offers up to 1:500 in leverage, which is typical for offshore brokers. We consider the availability of high leverage as an advantage, as some traders enjoy using such. Yet, keep in mind that the higher the leverage, the greater the risk, and this is the reason why the leverage available to retail clients is restricted in most jurisdictions.
Another possible benefit of Exilon Markets is the seemingly low cost of trading – spreads fixed at 1.4 pips on majors are lower than most fixed-spread forex brokers offer, and the floating ones are even better. Then again, the cost of trading is not the most important thing to look for in a forex broker. Instead, we urge traders to focus on the company’s reliability, which means a license issued by a trustworthy financial authority.
Access to MT4
As we already mentioned, the platform of choice at Exilon Markets is the good old MetaTrader4 (MT4). The MT4 hardly needs and introduction, as most traders know it and praise it for its ease of use, reliability, and advanced functionality. It is very popular for its top-notch charting and automated trading bots, called Expert Advisors
Good selection of assets
Another potential advantage of Exilon Markets is that the broker offers good selection of assets for trade. It includes many currency pairs from all over the world and a wide variety of CFDs, including indices, commodities, precious metals and stocks. It seems that only cryptocurrencies like Bitcoin are missing from the broker’s product portfolio.
Exilon Markets Disadvantages
Registered offshore, blacklisted by the CNMV
Exilon Markets allegedly owned and operated by Exilontrade Ltd., a company registered in St. Vincent and the Grenadines. This offshore zone is a popular forex broker destination for providers looking for low registration fees and taxes, as well as freedom from all kinds of regulatory requirements and oversight.
In other words, brokers in this offshore zone are not subjected to a licensing regime, nor to any oversight on the part of a governmental agency. That is why offshore brokers are not entitled to operate on heavily regulated financial markets like those in the USA, Canada, the EU or Japan.
Yet, many of them target residents of the above-mentioned countries, and we found out that Exilon Markets is no exception to that. The broker is blacklisted by the Spanish financial watchdog, the CNMV. This is a sign of trouble because the broker obviously targets European investors without being authorized. What is worse, in most cases financial regulators issue warnings against unregulated brokers after they have received complaints and alerts from traders who have fallen victims to scams.
Demo spreads too good to be true
When we tested the broker’s MT4 in demo mode, we found the benchmark EUR/USD spread floating around 0.1 – 0.2 pips, and no commission whatsoever applied.
Exilon Markets’s demo MT4. Click on the image to view larger.
Actually, spreads that low are just too good to be true. We suppose that the spreads on live accounts are higher, or commission applies. Yet another possible explanation is that this broker is simply a scam and manipulates the platform, so check out the link below.
Another disturbing fact about Exilon Markets is their its platform is provided by a third party, PHP Financials Solutions Inc. (See the image above). This is a worrisome sign because 4xbanks uses MT4 provided by the same company, and this broker is related to the notorious Up4x group.
Extra fees, minimum withdrawal set
We also found out that clients of Exilon Markets cannot withdraw less than $100, and those who haven’t executed at least 5 trades, are charged with extra withdrawal fees. This is not a common practice among forex brokers, and is certainly unfavorable to traders.
Conclusion
Exilon Markets is an offshore broker that obviously targets Spanish-speaking investors. While the trading conditions seem fine, this broker lacks a lot in terms of reliability – it doesn’t hold a legit license and was blacklisted by the authorities in Spain as a potential scammer. All in all, traders should direct themselves to better trading options to which we have linked throughout this review.
And finally, here is a summary of this review of Exilon Markets:
| Pros | Cons |
| Generous leverage, attractive spreads | No financial regulation |
| MT4 available | Spreads too good to be true |
| Good selection of assets | MT4 provided by a third party |
| High initial deposit |
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