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By Ainara Stephania, from Costa Rica, January 29, 2024 at 07:33 PM

I am a little new in the world of trading and I have started using Exnova as my first broker when trading in real time, I would like to know if anyone else trades in this broker and what are their experiences in it. I love it.

Answer: Hi Ainara Stephania,

When starting trading in Forex one of the main things to consider is the regulation of the broker you want to trade with. Regardless of the appealing terms and conditions a broker may present, without proper regulation, it cannot be considered a trustworthy and reliable option.

  • As to Exnova, the broker is registered in Nevis (Lighthouse Trust Nevis Ltd, Suite 1, A.L. Evelyn Ltd Building, Main Street, Charlestown, Nevis), however, it does not have any license that would ensure risk-free trading. Very often offshore or unregulated brokers turn out to be financial scams, which leads to loss of financial investment.
  • We recommend avoiding high-risk options and opting for brokers that are tightly regulated, holding licenses from at least one of the leading regulatory bodies such as FCAASIC, or CySEC.

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