Abstract：User complaints regarding profit withdrawals have become an increasingly discussed issue among some Exfor traders, including those in South Asia. Trading profits never come easy; they come by spending hours understanding the fundamental and technical factors and their impact on different markets such as forex. However, what matters is whether you are able to receive them. For exfor clients, according to their complaints, this problem is worse! While they claim profits on the dashboard, the same do not reach their trading accounts, resulting in many negative exfor reviews. In this article, we have examined user allegations concerning several issues, including this common profit withdrawal problem.
User complaints regarding profit withdrawals have become an increasingly discussed issue among some Exfor traders, including those in South Asia. Trading profits never come easy; they come by spending hours understanding the fundamental and technical factors and their impact on different markets such as forex. However, what matters is whether you are able to receive them. For exfor clients, according to their complaints, this problem is worse! While they claim profits on the dashboard, the same do not reach their trading accounts, resulting in many negative exfor reviews. In this article, we have examined user allegations concerning several issues, including this common profit withdrawal problem.
Contents
Basic Information About exfor
exfor claims to offer over 300 trading instruments across different markets. By promoting zero commissions, tight spreads and a 100% bonus on deposits, it strikes the right chord with users. Other advertisements, including free daily insights for traders, quick trade execution and 24x5 support, further fuel the hype among users.
Company Information
- Company Name: Exfor Limited
- Company Abbreviation: exfor
- Official Website: https://exfor.com/
- Email Address: Info@exfor.com
- Head Office Registered Address: Tiara Labuan, Jalan Tanjung Batu, 87000, F.T. Labuan, Malaysia
Products & Services
- Tradable Instruments: Forex, Stocks, Indices, Energy and Metals
- Account Types: Standard and Pro
- Minimum Spread: Standard Account - 0.9 Pips, Pro Account - 0.4 Pips
- Maximum Leverage: 1:500
- Minimum Deposit: Standard Account - $50, Pro Account - $3,000
- Trading Platform: MetaTrader 4 (MT4) and MetaTrader 5 (MT5)
- Deposit & Withdrawal Methods: Bank Card, Bank Transfer, Bank Crypto
- Minimum Deposit Fees: Bank Card - $50, Bank Transfer - $500, Crypto - $50
- Minimum Withdrawal Fees: Bank Card - $10, Bank Transfer - $500, Crypto - $1
An In-depth Analysis of exfor Trading Offerings
exfor offers an extensive line of trading products to help traders meet their needs. While the minimum deposit required is affordable ($50) in the Standard account, the same seems very high ($3,000) in the Pro account and would likely be for experienced traders.
The extensive leverage of up to 1:500 can be both beneficial and counterproductive based on use cases. This can help users acquire large positions in exchange for a low margin. So, as the market moves favorably, traders stand to gain the maximum using such leverage. However, as the market turns back, an overleveraged account can lead to a sharp depletion of the account balance and a potential margin call by the broker.
The concerning aspect is the fees on deposits and withdrawals. Most brokers do not charge on these. However, exfor charges on both. At the same time, its deposit & withdrawal options are just three, extremely less than whats offered by competing brokers.
Top Trading Allegations Against exfor
Investigating Profit Block Cases
Traders from Italy and Pakistan, in particular, have criticized exfor for stopping the release of their funds, including profits. They claim that the broker failed to release profits ranging up to $700 USD. Despite constant emails, they reportedly failed to receive their funds. Affected by this trading experience, they shared negative exfor reviews online.
It Took More Than 7 Weeks, Yet the Released Amount Was Less Than Requested
Yes, this user claim was as shocking as the previous one made by multiple traders. Recounting his case, a Pakistani trader complained that the broker finally paid him $1500 in response to a seven-week pending exfor withdrawal request. However, the broker reportedly failed to pay $1,144 even then. According to the trader, the broker is refusing to respond to queries sent through emails or live chats. For more details, check this complaint.
Appreciation for Spreads & Trade Execution, Not Withdrawals
A user from Italy appreciated the brokerage firm for its impressive spreads and trade execution. However, the reported issue of withdrawal denial completely outweighed the mentioned benefits. The screenshot below contains a user allegation that demands attention.
Deposits Went Missing and So Was the Customer Support
A United Arab Emirates-based user reported a missing deposit case involving 50 USDT at stake. According to the user, he transferred this amount to his exfor exchange account through the TON network. The trader even stated that the transaction was confirmed on the chain. Despite this, the brokerage firm allegedly failed to credit his funds into his account. The worst came later with an ineffective customer support team, which reportedly failed to reply to the user-provided details and screenshots. Flagging transparency and accountability concerns, the trader did not mind sharing this critical exfor review.
Empty Account Balance Due to Alleged Bonus Removal
A trader alleged that exfor abruptly removed a previously credited trading bonus without prior notice, causing the account's margin level to collapse and all open positions to be forcibly closed. The complainant claimed the bonus had functioned as a tradable margin for months before its removal, contradicting later explanations from the broker. The trader also alleged repeated attempts to contact customer support and management went unanswered, raising concerns about communication and dispute resolution. Additionally, the user claimed affiliate commissions were initially delayed before eventually being paid. These were the trader's allegations, and readers should consider both the complaint and any response from Exfor when evaluating the situation. For more insights on this user allegation, read this exfor review.
Discrepancy in Every Trading Aspect: Deposits, Withdrawals & Account Type
A user from Australia highlighted a complete trading mess with exfor. Not only did the broker take more than two weeks to credit deposits, it also delayed withdrawal processing. What further concerned the investor was the account type-related glitch. According to the user, the broker claimed the delay was due to him supposedly opening a Pro account. However, after a quick check, the account was reportedly confirmed to be Standard. With arguably no justification for the account mix up and subsequent withdrawal hassles, the trader took support from a legal firm to recover his funds, according to this complaint.
exfor Regulation Details
With so many user allegations concerning exfor withdrawals and other highlighted issues, it was important to find an answer to this pressing question - Is this Malaysian broker regulated? The answer was YES, but very loose. It possesses a license from the Malaysian regulator, Labuan Financial Services Authority. The license number is MB/22/0099.
However,this regulatory framework will likely be less stringent than those of regulators such as the UK's FCA or Australia's ASIC.
As a result, the WikiFX team gave this broker a score of 2.20 out of 10.
Conclusion
Exfor presents itself as a broker offering competitive trading conditions, including access to more than 300 instruments, MetaTrader 4 and MetaTrader 5 platforms, leverage of up to 1:500, and relatively low entry requirements for its Standard account. However, our review found that these offerings are overshadowed by a notable number of user allegations relating to withdrawals, delayed fund releases, missing deposits, bonus-related disputes, and inconsistent customer support. While some traders praised the broker's spreads and execution speed, many claimed that difficulties arose when attempting to access their funds or resolve account-related issues.
It is important to emphasize that these complaints are user allegations and do not, by themselves, establish misconduct by Exfor. Prospective traders should also consider any explanations or responses provided by the broker, where available. Exfor is licensed by the Labuan Financial Services Authority (LFSA) in Malaysia (License No. MB/22/0099), although some traders may prefer brokers regulated by authorities with more stringent investor protection frameworks.
Before opening an account or depositing funds, traders should independently verify the broker's regulatory status, carefully review its bonus terms, fee structure, withdrawal policies, and leverage conditions, and start with a smaller amount if testing the platform. Conducting thorough due diligence on trusted platforms, such as WikiFX, can help reduce potential risks and enable more informed trading decisions.
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