Exorays

Exorays is a CFD broker that promises clients a new level of trading and unlimited opportunities. Its set of offerings lacks originality, featuring familiar words such as the most effective and modern trading platform, support from super professionals, and incredibly favorable trading conditions. It all looks simply laughable, especially coming from a firm that failed to create a proper website or come up with a believable backstory. An experienced trader will recognize this concoction as a scam project within the first few minutes of encountering it. For others, here’s our review, where we thoroughly dissect this unsuccessful platform.

Overview of Exorays

The first impression of a broker is sometimes the most crucial. The company’s website serves as its official online presence. Therefore, its analysis became our first step in getting to know more.

Broker History

The history of the broker is the first thing we want to know about. Creation, development, achievements, and plans will tell us about the company’s experience, reputation, and prospects. Or not, if the platform acts like Exorays.

Its creators logically decided that telling their own story was not in their best interests. They didn’t invent a legend of decades in the market either — traders quickly exposed such fakes. Therefore, there are literally a few sentences about the project itself.

It’s clear that you won’t find anything specific on “About Us” page. However, the absence of such information allows us to draw conclusions. We think everyone understands that such an approach from the broker gives us reason enough to consider it a scam.

Eexorays.com Website

We’ve already mentioned that the official website of the company turned out to be unsuccessful. It’s important to understand that regulated brokers, caring about their reputation, would never allow their “face” to turn into such a shambles. However, such subpar sites are encountered at almost every second scam platform.

The “success” of web designers can be considered the selection of color combinations in designing pages, as well as the arrangement of text blocks and illustrations. All of this is done at such a high professional level that it seems like a schoolkid is creating their first website.

Content managers also showed wonders of skill. Looking at the results of their pages, you begin to understand that neither owners nor programmers had ever dealt with trading and brokerage activities before. For example:

• Clients are promised unlimited opportunities in financial markets. However, the creators of Exorays immediately talk about only 500 trading instruments. We can remind you that there are over 5,000 stocks traded just on the American stock market. And there are also currencies, commodities, bonds, funds, etc. So, “Unlimited Trading Opportunities” turn out to be quite limited in reality.
• On the homepage, they talk about access to trading ETFs. It seems like a fantastic offer. Only they forgot to implement it in their trading platform. As a result, it turned into yet another meaningless set of characters on a site that is even uninteresting to its owners.
• The broker also promised an extended set of educational materials and tools to help users gain knowledge about trading. However, they left them, probably in a parallel universe because we couldn’t find them.

In general, the official website can be characterized in a few words: unattractive, boring, and useless. A real trader would never choose to work with a company presented online in such a way.

Registration Process and Personal Account

The sign-up with Exorays is yet another “victory” for developers. When creating a registration form, no one even attempted to simulate the procedure in accordance with brokerage service standards:

• The form fields require a minimum of data: name, surname, email, phone number, password.
• There’s no mention of what documents future clients should accept (sign), such as Terms & Conditions.

However, it’s not the main problem with the registration process at Exorays. Users simply cannot complete it independently. When entering any set of data and submitting the form, they receive the message “Registration failed.”

The result does not depend on the field’s content. It seems that the script is fundamentally non-functional. The question arises: is this an error on the part of the developers, or is it done intentionally so that those wishing to trade in Exorays seek help from customer support? Although we have reasonable doubts that after acquainting themselves with the official website, anyone would want to become a client of this dubious broker.

Perhaps the project has still managed to attract some users who were invited to open accounts by company representatives in personal phone conversations. From our point of view, these traders, having given their consent, made a very unfortunate decision. If Exorays employees couldn’t tidy up the official website, how would they handle the more complex task of organizing and ensuring the trading process? Perhaps we are wrong. However, it was not possible to form a more objective opinion since access to clients’ workspace without an active account is not available.

Trading Platform

However, Exorays allows users to familiarize themselves with a trading platform at any time, and registration is not even mandatory for this. It must be acknowledged that the external appearance of the web terminal looks quite decent.

This is not the merit of developers; the chart widget is created by TradingView. Nevertheless, programmers did not achieve a high-quality interface. Every experienced trader will notice its issues with the naked eye:

• Creating multiple chart windows is impossible.
• Connecting custom modules (indicators and advisors) is not provided.
• A set of timeframes is significantly reduced (only 5 are left), and most traders do not have the most popular ones (1H and 4H).
• Position sizes, StopLoss, and TakeProfit levels are set directly in the account’s currency, not in lots and points.

Perhaps for market newcomers, this is not a problem. However, for traders accustomed to working with well-known terminals, this creates significant inconveniences for participants in trading, inevitably leading to losses instead of the expected profit.

It is worth noting other facts. Although Exorays claims to have created the terminal on its own, almost every second scam broker uses this platform. The conclusions are clear:

1. The software is a product of a third-party company, which means that information about its in-house development is unreliable.
2. According to traders, the terminal lacks protection against platform administration’s interference in the quote flow. In this case, trading results depend not on the market situation but on the broker’s willingness.

Both of these circumstances clearly indicate that Exorays was created by scammers, and its words should not be trusted.

Contacts

The content of “Contact Us” page is extremely “rich.” Here, the visitor will find a single way to contact the company representatives — a feedback form.

Of course, there are other ways:

• Email: support@exorays.com.
• Phone number: +447412696319.

You can find them in the footer of any page under the heading “Our Offices.” However, for some reason, there are no addresses for these offices.

In short, you don’t need vast analytical abilities to understand: Exorays does not have an official registration address. Renting a virtual office with a mailing address was also unsuccessful due to either a lack of funds or a lack of desire. Do you still consider the broker honest and reliable?

Analysis of Services Offered by Exorays

When choosing a broker, traders usually make decisions based on assessments of the volume of services provided and their conditions. Let’s continue acquainting ourselves with the firm by analyzing this issue.

Funding and Withdrawal

The broker did not consider it necessary to allocate a separate page to describe the conditions of non-trading operations. It chose to limit itself to a few Q&A pairs in the FAQ. Here, it states that the following types of transfers are available for depositing and withdrawing funds:

• Bank transfers.
• Debit/credit card transfers.
• Using the most popular e-wallets.
• Through cryptocurrencies.

There are other questions in the section, such as the time it takes for funds to be credited, but managers have answered ‌them in a very vague manner. Due to the absence of a valid account, we could not see how monetary operations are implemented in clients’ workspace.

However, we understand perfectly well that bank transfers and cards can be forgotten: no one will process them without the legal registration of Exorays. Most likely, dummy private individuals will become their recipients. The main method of settlement is cryptocurrency transactions. This is hinted at by the broker, which says that it holds clients’ accounts in USDT. In any case, users transfer their funds to an anonymous recipient, completely destroying a myth of the safety and transparency of operations.

Exorays Trading Conditions

It is not easy for a potential client to get an idea of the trading conditions here. However, they are not even published in the table of account types.

The only thing the platform owners deemed necessary to mention is the minimum deposit for each of the 5 account types:

• Standard Account — $5,000.
• Advanced Account — $25,000.
• Pro Account — $50,000.
• Premium Account — $100,000.
• VIP Account — conditions will be provided by a personal manager.

The table mentions leverage, but understanding these terms for a trader, even an experienced one, is quite challenging. Exorays, on the other hand, has no intention of explaining what its terms “Leverage options available” or “Higher leverage options” mean. There’s no information about other important characteristics, such as spread and swap sizes, transaction limits, etc.

Note! The minimum deposit sizes are also complicated. For Standard-type accounts, the table indicates a minimum amount of $5,000, while in the FAQ, it’s $250. Which one should a trader rely on?

Is Exorays Trustworthy and Reliable?

Naturally, the most important information for a trader is official data, namely, legal registration, licenses, etc. We conclude our review of Exorays by examining these aspects.

Assessing Legitimacy

The company keeps its registration address and office location secret. The only hint at geographical location is a phone number in the UK. Let’s try to find some information in the Companies House databases.

A search in Companies House did not yield an exact match. The only firm with a similar name was involved in real estate sales and ceased to exist back in 2021.

We have obtained confirmation that the broker is not officially registered. Consequently, Exorays cannot obtain a license for brokerage activities, quote flow, or liquidity. It appears that the platform is providing services illegally and is not engaged in trading at all.

Established Track Record

The last question we intended to address is the duration of Exorays’ existence. As mentioned earlier, the broker does not provide official data. We can assess the platform’s start date based on domain registration information, easily obtainable through “Whois” service.

As we can see, the domain was registered in June 2023. The broker’s reluctance to disclose any historical information becomes clear. Knowing the average lifespan of such projects, we want to caution brokers — the likelihood of Exorays being a scam in the near future is very high and increases every day.

Implications for Traders

Everything included in our review clearly indicates that Exorays is a scam broker. This platform operates without official registration and cannot obtain a license. The information on the official website is not trustworthy. The trading terminal also falls short of expectations. Therefore, depositing money into this project is dangerous, with a 100% chance of not receiving any payouts from it.

Strengths and Weaknesses