Exnova Review, Scam Test: Is it a Legit Broker?

Exnova offers two types of accounts for its clients: a real account and a demo account.

Here is a brief overview of each account type and its features:

• Real account: A real account is an account that allows traders to trade with real money and earn real profits. To open a real account, traders need to make a minimum deposit of $10.

Any trader who wishes to make a deposit to start trading with real money can use credit cards, crypto, altcoins, e-wallets, and bank transfers.

Withdrawals can also be made to the same method used for deposits, without any fees or commissions. A real account gives traders access to all the trading instruments, platforms, tools, and features that Exnova offers.

Plus, Exnova traders using real accounts can also participate in tournaments and promotions that the platform organizes regularly.

• Demo account: A demo account on the other hand is an account type that allows traders to practice their trading skills and strategies with virtual funds.

Like on any other binary options trading platform, a demo account in Exnova is free and does not require any deposit or verification.

Any trader who chooses to start trading with a DEMO account in Exnova can trade with the $10,000 virtual funds offered on the platform and learn how to trade risk-free.

To open an account with Exnova, traders need to follow these simple steps:

• Step 1: Visit the Exnova website and click on the “Sign Up” button at the top right corner of the page.
• Step 2: Fill in the registration form with your email address and password. You can also sign up with your Google account.
• Confirm that you are 18 years or older by checking the “I confirm I am 18” box
• Click on the GREEN button with the words “Open an Account for FREE”.

Once you have opened an account with Exnova, you can start trading binary options and digital options on various financial instruments, such as cryptos, forex & CFD, commodities, and ETFs.

How to Fund Exnova

To fund Exnova, you need to follow these steps:

• Log into your Exnova trading account using your email and password.
• Click on the “Deposit” button at the top right corner of the page.
• Choose the payment method you prefer, such as credit card, e-wallet, or bank transfer.
• Enter the amount you want to deposit, starting from $10.
• Confirm the deposit and verify your payment.

Your trading account balance will be updated with the deposited funds. You can use them to trade binary options and digital options on various financial instruments.

Exnova Deals and Promos

Deals and promotions are special offers that Exnova may provide to its clients from time to time. These offers may include discounts, bonuses, prizes, or other incentives for trading with this platform.

And just like on any other binary options trading platform, these deals and promotions may have certain terms and conditions that you’ll need to comply with before you can claim them.

Unfortunately, Exnova does not currently have any active deals or promotions on its website.

However, this may change in the future, so ensure you keep an eye on the Exnova website or subscribe to its newsletter to get the latest updates on any deals or promotions that it may offer.

Regulation and Licensing

As mentioned earlier, regulation and licensing are important aspects to consider when choosing a binary options broker.

Regardless of the age of a broker, licensing can provide new and experienced traders with a sense of security and trust, as well as ensure that the broker complies with certain standards and rules in the industry.

However, not all brokers are regulated or licensed by the same authorities, and some brokers may not be regulated or licensed at all.

Exnova is one of those brokers that may not be licensed as of 2023.

Why?

1. Because it is new.
2. It does not mention any information about its regulation or licensing on its website.

This may raise some concerns about the legitimacy and reliability of this broker especially if you are the kind of trader who only trades with a licensed broker.

Non-regulation notwithstanding, Exnova could still be one of the fastest binary options brokers of 2023.

Exnova Additional Features

• Trading signals: Exnova has various trading tools that can be used by traders to generate trading signals.

These signals are based on technical analysis and market trends, and they indicate the direction, entry price, expiry time, and payout of a trade.

Traders with the know-how can generate signals on the web platform or the mobile app and use them to trade profitably.

• Education materials: Exnova offers a variety of education materials for traders who want to learn more about binary options trading and improve their skills.

Traders can access free video tutorials, step-by-step instructions, trading courses, market analysis, and more.

Exnova also provides frequent newsletters that contain useful tips and insights on the latest market developments.

Safety and Security

Exnova does not provide much information about its security and safety features on its website. However, if you use the platform you will notice that it uses industry-standard security measures, such as SSL encryption and two-factor authentication.

These measures help protect your data and transactions from unauthorized access or interference.

If you are trading digital options on this platform, you will also notice that it has negative balance protection, which means you can not lose more than your account balance.

Accepted Countries

Exnova is available are:

• Brazil
• Colombia
• Mexico
• Chile
• Peru
• Ecuador
• India
• Pakistan
• Germany
• South Korea
• Indonesia
• Italy
• Sweden
• Turkey
• Vietnam
• China
• Russia

You can see the full list of Exnova available countries on this website.

Some of the countries where Exnova is not available are:

• USA
• Canada
• North Korea
• Afghanistan
• Bouvet Island
• South Sudan

You can see the full list of Exnova-banned countries on this website as well.

If you are not sure whether Exnova is available in your country or not, you can visit the Exnova official website and see if you can access it. Alternatively, you can contact the Exnova customer support team via phone, email, or live chat and ask them about your eligibility to trade with them.

Exnova Pros and Cons

Pros:

• Exnova offers users access to various financial instruments, including stocks, forex, commodities, and cryptocurrencies.
• Offers binary options and digital options.
• Good for diversification.
• Multiple trading platforms
• Traders can use their mobile binary options trading app for iOS and Android.
• Switch easily between a demo and a live account.
• FREE educational resources.
• Great customer support.
• Traders can use a wide range of tools while trading.
• Low minimum deposit requirement of only $10.
• Supports multiple languages for traders from different parts of the world.

Cons:

• Exnova does not offer MetaTrader suite.
• While Exnova offers some educational resources, such as market analysis and webinars, the platform may not offer as much educational content as other brokers.
• The payment methods offered by this broker are limited. It may be inconvenient for some traders.

Comparison of Exnova with other brokers

To give you a better idea of how Exnova compares to other binary options brokers in the market, we have selected five of the most popular brokers in the market: Quotex, Olymp Trade, Deriv, IQ Option, and Expert Option.

We will compare these brokers based on some key criteria: regulation, asset types, account types, platforms, tools, fees, and customer support.

a). Regulation

Regulation is an important factor to consider when choosing a binary options broker. As mentioned earlier in this review, regulation can provide traders with a sense of security and trust, as well as ensure that the broker complies with certain standards and rules.

However, not all brokers are regulated or licensed by the same authorities, and some brokers may not be regulated or licensed at all.

Exnova does not mention any information about its regulation or licensing on its website. This may raise some concerns about the legitimacy and reliability of this broker. However, that is not always a concern for most traders who have traded binary options before.

If you are the type of trader who considers regulations though, then you might want to check out: –

i). Quotex

Quotex is regulated by the International Financial Market Relations Regulation Center (IFMRRC), an independent organization that provides certification and regulation for online trading platforms.

The IFMRRC is not a government authority, but it claims to have strict standards and rules for its members. However, some traders may not consider the IFMRRC as a reputable or reliable regulator, as it does not have much recognition or authority in the financial industry.

Go to Quotex >>>

ii). Olymp Trade

Olymp Trade is a licensed and regulated broker by the Vanuatu Financial Services Commission (VFSC) with license number 40131 and the International Financial Commission (IFC).

IFC is an independent organization that provides dispute resolution and compensation for online trading platforms. While IFC is not a government authority, it claims to have high standards and rules for its members.

The IFC also offers traders up to $20,000 in compensation in case of any issues with the broker.

Go to Olymp Trade >>>

iii). Deriv

Deriv is regulated by multiple authorities, such as the Malta Financial Services Authority (MFSA), the Vanuatu Financial Services Commission (VFSC), the British Virgin Islands Financial Services Commission (FSC), and the Labuan Financial Services Authority (LFSA). These authorities are well-known and respected in the financial industry, and they provide traders with a high level of security and trust.

Go to Deriv >>>

iv). IQ Option

IQ Option is regulated by the Cyprus Securities and Exchange Commission (CySEC), one of the most reputable and recognized regulators in the European Union. CySEC ensures that IQ Option complies with the Markets in Financial Instruments Directive (MiFID) and other rules and standards that protect traders’ rights and interests.

Go to IQ Option >>>

v). Expert Option

Expert Option is regulated by the Vanuatu Financial Services Commission (VFSC)

VFSC is an offshore regulator that provides licenses and supervision for online trading platforms.

Go to Expert Option >>>