Uexo Review and Website Analysis

Trading on Forex/CFD begins with choosing a reliable brokerage partner to whom you can entrust your money. One such broker is Uexo, about whom there are very few reviews on the internet, and who is not at all popular. You definitely should not rush to open a brokerage account with such organizations, as they require thorough scrutiny for signs of scams, because they can easily turn out to be outright fraud.

Brief Overview

• 🖥Official Website: uexo.com
• ✈️Contact Address: Suite 803, 8th Floor, Hennessy Tower, Pope Hennessy Street, 11328, Port Louis, Mauritius
• 📞Customer Support: [email protected], +44 20 3695 9349
• 🔐Licensing and Accreditation: FSC, FSCA
• ⏳Track Record: 2024
• 🧰Specialization: brokerage service
• 🤝Terms of Cooperation: 1:400, $250
• 💰Additional Services: no

Uexo.com Examination

The official website, although it looks more unique and interesting than most resources of other companies, is still used to promote pseudo-benefits and aggressive advertising of brokerage services. Users can study the information not only in English but also in French, Arabic, and German. However, the quality of the information remains low, with clichéd phrases being used, showing that the platform is no different from thousands of its counterparts: “super-fast”, “best-in-class customer care experience”, “no hidden fees”, and so on.

The top part of the official website contains buttons for login and account registration, language switching, and three sections with information about trading, pricing, and Uexo’s activities. There is no graphical support, except when you enter the site you can notice some cubes with the logos of SP500, currencies, and popular stocks like Apple, Netflix, and other brands.

The footer contains information about the legal entities. There are two of them, by the way, so users can choose between two versions of the site — for the FSC jurisdiction and for the FSCA.

Company Contacts

For any questions, clients can contact the online chat, where there is not even a response from the staff, or via the general email. Additionally, Uexo provides phone numbers for their offices in individual countries: Mauritius, South Africa, the United Kingdom, and Cyprus. By the way, addresses are provided only for Mauritius and South Africa, but not for the others for some reason. There are also social media accounts, but there are no posts, so it is unlikely worth trying to write there.

Key Conditions

You can start trading with $250, which is a high amount for a start. Also, it is curious that this minimum threshold is often set by fraudulent brokers operating illegally. Will Uexo be an exception? The tariffs differ in terms of spreads and commissions. For example, the first type of account has spreads starting at 1.6 pips with zero commission. However, the second package has spreads starting at 0.1 pips, but you need to pay a commission of $7 per lot, which is quite a lot, and the minimum amount required to activate is $10,000.

The broker openly extorts money from clients. The better the tariff, the more favorable the conditions, but you need to invest more money. Thus, if traders want to trade profitably, they need to invest more funds. Notably, this approach is exactly what scammers do. Moreover, the company offers a leverage of 1:400, which violates all the rules and regulations of serious regulators and also increases risks for users.

In addition, the firm promises a demo account and an Islamic account. Additional services include negative balance protection, live chat support 24/5, support on WhatsApp & Telegram, and access to the uexoTrader platform. The range of additional services is very meager. The firm does not have any unique offers for traders, so it is unlikely to compete with other forex dealers.

Exposing Uexo

The company offers very unfavorable conditions and so far cannot create any trust. Next, it is necessary to check all the licenses listed on the website, as well as the registration data, duration of operation, and the business model of the platform.

First, it is worth checking the duration of Uexo’s operation. Unfortunately, on its website, the broker decided not to indicate the date of its foundation. However, this is easy to find out. First, you need to refer to the Whois service, which will show when the company’s domain was registered. It happened a long time ago, in 2005, which means the domain was successfully purchased and renewed, but when? In this case, you need to refer to the WebArchive service. Snapshots from WebArchive showed that the site was not operational in 2022. Only snapshots dated September 2023 showed that the site was active. Does this mean the company started operating in 2023? Maybe even later, as the first reviews on the internet appeared only in 2024.

In the jurisdiction of Mauritius, the legal entity Myrtle Ltd does indeed exist, and it was registered in 2021. However, does it have any relation to Uexo? It is possible that scammers just took another company’s details and presented them as their own, as there is no evidence of a connection between the two companies. A similar situation exists with the organization Wealthlink (PTY) Ltd, which was indeed registered with the FSCA in 2020, but the official register lists a different phone number and address.

Besides Mauritius and South Africa, there is the jurisdiction of Cyprus, but there Uexo acts as a payment agent, and the legal entity was registered in 2022, which does not match the registration dates of Myrtle Ltd and Wealthlink (PTY) Ltd. And the last question — where is the office in the UK? This country is mentioned, there is a phone number, but no office — how come? And to legally operate in this jurisdiction, a license from the FCA is needed, which they do not have.

All of this looks extremely strange. Why did the site only start working at the end of 2023, although the legal entities the company refers to appeared long before they started serving clients? Are the provided legal details genuine? Or maybe scammers created Uexo and took the details of other firms to present as their own? When there are such suspicious moments, there can be no trust. The firm could easily turn out to be fraudulent.

And how are traders’ orders executed? Are they routed to interbank liquidity or liquidity providers? Unlikely, because the company operates as a dealing desk, processing all client orders internally. This means there is a conflict of interest. Thus, the trading results of users collectively must be negative rather than positive, because in the case of positive results, the platform could lose money and go bankrupt.

What Reviews Do Users Leave?

Another sign that the firm has been operating for a very short time is the few, recent reviews of Uexo. There are not only a few reviews, but they also started appearing only in the summer of 2024. This once again proves that the broker did not operate in 2020, 2021, 2022, or 2023 because there are no comments from traders. Incidentally, the reviews are almost all positive, with not a single negative or doubtful mention. This also shows that the platform orders fake positive reviews about itself. Another red flag.

Conclusions

The company looks too suspicious. Its trading conditions are exactly the same as those of any other fraudulent broker. There is an unclear situation with the legal entities, which, although they exist, are unlikely to have any relation to Uexo. The period of operation is very short, so it cannot have the reputation of a proven and safe partner in the Forex/CFD market. Moreover, the company actively orders fake positive reviews about itself.

Pros/Cons

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