The algorithm for success in the Forex/CFD market is quite simple and consists of just three steps: trader registration, trading, and profit generation. At least, that’s what the broker discussed in our Enxutto review promises potential clients. However, what they fail to mention is that their “success” refers to their project, not the user. They also fail to disclose that the only goal of scammers is to collect as much money as possible on trading accounts and then pocket it. Read on to discover more about the platform created by fraudsters and their methods.
Key Features
- Company Name: Enxutto Ltd
- Website: https://enxutto.net/
- Available Contacts: [email protected]
- Foundation: 2024
- Services: Forex/CFD trading
- License: No
- Initial Deposit: $1,000
From Sign-Up to Payout
The official website of Enxutto is well-designed. The color scheme is appropriately chosen, there are 3D-style images, and the pages load quickly — webmasters and designers did a great job. It’s just a pity that they worked for scammers who created poor content.
- On the Markets page, there’s a very brief description of the available asset groups. However, contract specifications are nowhere to be found.
- The About Us page contains no important information about the company. Users would like to see the registration details, team information, history, and future plans. However, the project owners feel that this information is unnecessary.
- The website lists a number of awards the company has supposedly received. However, none of them were awarded to a broker named Enxutto in the past decade. For non-trading transactions, only cryptocurrency operations are used. The company does not publish any other payment methods or details.
In general, Enxutto has a lot of similar issues. When viewed as a whole, it’s reasonable to suspect that we are dealing with anything but a legitimate broker. That’s why we referred to the site as a scam.
Our Trading Experience With Enxutto
The company briefly described their trading platform, highlighting its advantages. After registering, we took a closer look at this unique product.
Upon entering the platform, users will see a price chart window. To access the other features, one needs to open the menu on the left sidebar. However, describing the organization and interface of the platform is not our task. We’ll just mention a few software drawbacks:
- The chart window takes up almost the entire screen. It would be nice to have a multi-chart mode, but this feature is not available in the terminal.
- The Buy/Sell buttons are located in the main window, but it’s not possible to set up one-click trading — that feature is missing here.
- The market overview, which is available in the menu, is a non-trivial and fairly convenient feature. However, it looks great until there’s high volatility on the price charts. Opening/closing positions requires extra steps that will take time and might lead to financial losses.
In general, we saw one of the better trading software implementations. However, it still lags behind programs like MetaTrader or cTrader. The broker likely has a good reason to use such an unconventional software solution. In our opinion, this is linked to the lack of registration. We plan to verify this assumption later.
Enxutto’s trading conditions are worth attention. The company has posted them on their account types page. According to the published information, traders can choose from three plans:
- Beginner, with a deposit starting at $1,000 and a leverage of 1:20.
- Standard, with a deposit starting at $25,000 and a leverage of 1:50.
- Master, with a deposit starting at $50,000 and a leverage of 1:100.
The company does not list any other transaction characteristics on the site. While they claim that costs are minimal, the spread and commission sizes remain unknown. One interesting option in the account descriptions is that the Standard and Master accounts are swap-free. We don’t really believe in the altruism of a broker who forgoes money that could be made from traders. However, such an approach might be possible if the company considers all client funds its own.
There’s also something else. For example, in the FAQ, it states that the maximum leverage is 1:500, but in the account list, it’s shown as 1:100. Which should we believe? The account list also mentions opening PAMM accounts, but these aren’t even referenced in the trading platform.
Overall, it seems like the broker has published some attractive offers to draw in new clients. However, like with most scammers, these offers have nothing to do with reality.
The Reality Check
We mentioned that the owners of Enxutto do not provide information about the company’s registration. However, the company’s head office address in Austria can be found on the contact page.
A search in the Austrian registry revealed that no company or business named Enxutto is listed. We obtained similar results when searching for the company in the Open Corporates database. This means that the broker is not registered anywhere and, of course, does not hold any licenses.
However, the owners of the project are doing everything they can to convince us otherwise. They even created a page titled “Licenses.” On this page, they posted links to the pages of reputable regulators that supposedly authorized the company. This list includes the DFSA from Dubai, the UK’s FCA, Australia’s ASIC, and Cyprus’ CySEC.
Perhaps this might deceive beginners, but we know the correct addresses of the official regulator’s websites. What the company shows us are specially created fake pages. It’s worth mentioning that the registration numbers and license numbers on these pages are fabricated. For example, according to Enxutto’s information, the Cyprus license was issued in 1964, yet the page shows the date as 2017. The registration and license numbers on the fake FCA page do not exist, nor does the number on the fake DFSA page.
It seems that this fake broker is attempting to mislead traders by pretending to be a legitimate company. Meanwhile, it operates without registration or licenses and provides services illegally.
How Long Has Enxutto Been in the Game?
As we mentioned earlier, the broker does not provide any details about itself, including the creation date of the company. However, on the fake regulator’s pages, it claims to have been established in 2016. We can obtain objective data by checking the broker’s domain registration information.
The working domain enxutto.net was registered in 2016. It is likely that this is why the fake company tries to use this date.
However, snapshots from the web archive show that the broker’s website only started functioning in October 2024. Prior to that, the domain was up for sale, and in 2024, it was developed by a company called Prysmatec Tecnologia Ltd. The website’s launch date corresponds with the last significant change recorded in the whois database.
Therefore, we can confidently state that Enxutto has only been operating as a broker for about 3-4 months. This is definitely not 8 years of industry experience.
Extra Fraud Indicators
Another sign that the company appeared online only recently is the very small number of Enxutto reviews. However, we were able to uncover some information.
Trading and investment portals have published detailed articles about this pseudo-broker. Experts analyzed the same data as we did and reached a clear conclusion — the platform was created by scammers, and trading with it is unsafe.
Regulators, primarily the DFSA, have issued warnings that the scammers behind Enxutto created fake pages using logos and color schemes similar to the official ones. They claim that any broker using these pages is a scam.
Is Enxutto the Right Fit?
The information we presented in this Enxutto review clearly proves that the broker was created by scammers with the goal of collecting and misappropriating traders’ funds. The fake company has no registration or licenses and tries to mislead traders by posting fake regulator pages. Additionally, it does not provide clear trading conditions and hides many other important details. We strongly recommend avoiding this scam platform to prevent losses.
I was advised by Enxutto to transfer money to a managing trader since I had no experience trading personally. The first few weeks, this “trader” was making some profits, and everything seemed fine. I regularly deposited more money to earn even more. One day, I checked, and my account had nothing. I started calling the manager, and he told me the trader had started making losing trades, and in the end, everything was lost and the trader disappeared. And they don’t take responsibility for it because I should have accounted for the risks. Can you believe this absurdity? I entrusted my money to a person the company vouched for, and I’m supposed to monitor him? It’s clear that they all work together, and I fell for one of their scam schemes.
I lost over $10,000 to the scammers at Enxutto! No one is going to compensate for the losses that were not my fault! In the few trades I made, I have no complaints. But when the terminal froze at the worst possible moment, or when a trade opened at one price but the market showed another, who should be responsible for these problems? The quotes feel like they’re being manipulated, and the terminal lags and malfunctions. I have no idea how they even got on the market. They work terribly and not according to the rules!
Enxutto is pure scam, disguised as a respectable brokerage firm! In reality, behind this “reliable broker” are scammers who are focused on deceiving trusting investors! I had to lose $15,000 to realize this. Through manipulation of quotes, they easily and discreetly mislead you, and almost every trade ends in a loss. If you don’t want to risk your savings, I strongly recommend staying away from this company!