Enxutto

Investigating Enxutto: A Comprehensive Review

Today, in our Enxutto review, we’ll examine a project that promises its clients high-quality service, particularly trading on various financial markets. However, not all brokers’ claims are worth believing. Very often, behind beautiful promises hides nothing more than a scam. So, let’s take a look at what this company has to offer us.

Key Takeaways

• This broker operates without a license.
• In reality, it has been around for less time than you think.
• You won’t experience real Forex trading here.

Overview of Enxutto

We will go step by step through the company’s profile to answer the question of whether this is a scam. Stay with us to learn the whole truth.

Broker History

In the “About” section, we see that they dedicate a significant amount of attention to their history and even share it with their visitors. According to the roadmap, the broker claims to have started its operations in 2017 and boasts of having gained 38,000 clients over the years.

Enxutto.net Website

Well, it’s worth noting that the broker has a rather simplistic website, which certainly doesn’t align with their claim of having successfully operated for several years. The site also supports multiple languages, which indirectly suggests that the project targets a broad audience. As for the design, we weren’t particularly impressed. Everything is laid out quite plainly, and the color scheme isn’t very appealing either. The green doesn’t seem to pair well with the orange. The tabs on the site are fairly standard. However, there’s a decent amount of information provided. They’ve even published some important details about the broker and statistics.

Registration Process and Personal Account

Creating an account on the platform is quite simple. You’ll need to fill out a standard form with a password and your personal details. Unfortunately, no confirmation code is sent to your email, which is concerning. However, it’s possible that you can set up two-factor authentication later on.

After registration, you’ll immediately access the trading terminal since it’s integrated with the client portal. On the portal, you’ll be able to complete your personal information and go through the verification process. The portal itself is fairly standard.

Verification, by the way, is fairly simple. You’ll need to confirm your identity by uploading your passport and a photo of yourself holding it. Additionally, you’ll need to provide a document that verifies your address of residence.

Interestingly, you’ll have to fill out your contact information again, as it isn’t automatically transferred from the registration form for some reason.

Trading Platform

The trading terminal offered by this broker is quite standard. They utilize a basic web-trader and do not provide downloadable desktop or mobile apps.

As you can see in the screenshot, the functionality here isn’t very extensive. For beginner traders, such a terminal might be perfectly sufficient. However, experienced traders are unlikely to find it suitable for their needs.

Contacts

Enxutto’s contact information seems incomplete. The company provides only an email address, support@enxutto.net, for communication. They also list an office address: Sterngasse 3, 1010 Wien, Austria. However, it’s unclear how Austria comes into the picture when the company claims to be regulated in Cyprus. Moreover, we couldn’t find any office with this name at the specified address on the maps. It’s likely that this address is entirely fake.

Analysis of Services Offered by Enxutto

Let’s now take a look at how advantageous it will be to trade on this platform.

Funding and Withdrawal

First and foremost, let’s consider the deposits. The broker supports the following methods for account funding: bank transfers, credit and debit cards, and e-wallets. Withdrawal requests are processed within 1-3 business days. Interestingly, there is no information provided about commissions.

Enxutto Trading Conditions

Enxutto offers only three types of accounts. These include the Beginner, Standard, and Master sets. The accounts differ in terms of the minimum deposit and some services offered. The higher the account status, the more services the broker provides. For example, the Beginner account offers only instant trade execution. In the Standard account, they promise no swaps, the ability to trade cryptocurrencies, and a personal PAMM account. Finally, in the Master account, Enxutto offers the services of a personal manager, deposit insurance, and the ability to trade ETFs and indices. The deposit requirements for these accounts are as follows: $1,000, $25,000, and $50,000.

Doesn’t this seem like a huge and somewhat unjustified discrepancy? These are very high requirements for both beginners and experienced traders.

Unique Features

Among the additional services, we would highlight deposit insurance. It’s completely unclear what this service even means. Legitimate brokers who have access to interbank and exchange markets don’t offer any insurance, because all risks, like profits, are real there. We doubt that this is a real service. Most likely, Enxutto is using it as a marketing tool to attract clients.

Is Enxutto Trustworthy and Reliable?

Finally, let’s check how much we can actually trust this broker. We are sure there are plenty of pitfalls here, too.

Assessing Legitimacy

So, the company claims it is regulated by CySEC. It even provides a license number, 631/64. However, as we mentioned earlier, its office is somehow located in Austria. A quick check in the Cyprus registry shows that Enxutto is not registered there, and it hasn’t received any licenses either. This is a fake.

By the way, this was already clear, since Cyprus brokers are prohibited from offering retail traders leverage higher than 1:50. As we can see, Enxutto violates this rule.

Moreover, the User Agreement mentions that its provisions are governed by the laws of Vanuatu. Needless to say, we kindly checked the registry of this offshore state and found no trace of Enxutto?

Established Track Record

In the section above, we discussed the company’s supposed history, which allegedly started in 2017. Here’s the issue: a simple domain check reveals that this is a complete lie. If you check its history on the Whois service, you’ll find that it was first registered in 2016. However, don’t be misled. All the clarifications on this matter come from the Wayback Machine. According to it, the website was inactive and under development until 2024. So, that’s the actual start date of the project. Moreover, note that there are no reviews or mentions of the company from the alleged 7 years of operation. Clearly, the entire company history is fabricated.

Implications for Traders

Enxutto is a typical scam broker that uses false licensing and registration information to create the illusion of legitimacy. Investing money in such a project is highly discouraged. You can find more reputable and reliable alternatives.

Strengths and Weaknesses