Exness Account Recovery and Funds Reimbursement.
If you or someone you know has been adversely affected by the Exness incident involving Igor Lychagov, it’s crucial to take immediate action. Contact us today for a consultation.
I want to recover my lost fundsGet in touch
Igor Lychagov
Exness Co-Founder
Igor Lychagov, a name that resonates in various business circles, often boasts an impressive portfolio. He claims to be the Co-Founder of Ornament Health AG since January 2019 and an Investor and Board Member at Caeli Nova since August 2021. Additionally, he purports to hold positions as Lead Investor and Board Member at SelfDecode, Spiden, and Rezolve Limited, starting in April 2021, September 2019, and April 2021, respectively. However, behind these seemingly prestigious titles lies a web of controversy and questionable practices, particularly linked to his involvement with Exness, an online brokerage firm he co-founded in October 2008.
Lychagov’s educational credentials are equally dubious. He claims to have attended Stanford University Graduate School of Business in 2021, yet no specific details about his degree or field of study are available, casting doubt on the veracity of his academic achievements.
Exness was Featured On
Regulatory Non-compliance and Market Deception
Exness, under the leadership of Igor Lychagov, has faced significant issues regarding regulatory compliance. In India, the brokerage firm falsely claimed to be operating legally despite lacking approval from the Securities and Exchange Board of India (SEBI) as of 2021. This misleading representation put Indian traders at substantial risk, as they were unknowingly engaging with an unregulated entity, leaving them without the protections offered by local regulatory frameworks. This deceptive practice undermines the trust and reliability that traders expect from a legitimate brokerage firm.
Abrupt Market Exit and Client Abandonment
In a shocking move in 2021, Exness abruptly ceased its operations in Russia, leaving its clients in a lurch. This sudden exit included blocking client accounts, freezing withdrawals, and terminating customer support without any clear communication or justification. Many Russian clients found themselves unable to access their funds, which led to significant financial distress and accusations that Exness had abandoned the market without fulfilling its obligations. This erratic behavior raises serious concerns about the firm’s commitment to its clients and its ethical standards.
Withdrawal Difficulties and Financial Entrapment
One of the most alarming issues reported by Exness clients is the difficulty in withdrawing funds. Numerous clients have faced prolonged delays and outright denials of their withdrawal requests. In some instances, Exness allegedly forced the closure of client accounts and liquidated their positions without consent, effectively trapping their money. These practices not only violate the trust between the broker and its clients but also highlight potential financial mismanagement and unethical business practices within Exness.
Lack of Transparency and Regulatory Arbitrage
Exness has been heavily criticized for its lack of transparency regarding withdrawal procedures, accepted payment methods, and the reasons behind rejected withdrawals or account closures. Additionally, the firm operates under multiple regulatory jurisdictions, including offshore locations known for lax regulatory oversight. This approach raises suspicions of regulatory arbitrage, where Exness might be exploiting less stringent regulations to circumvent stricter controls in more regulated markets. Such practices compromise the integrity of Exness and pose significant risks to its clients, who may find themselves unprotected and vulnerable to financial losses.
Victim stories from around the web
Great app, great withdrawals expiriance but horrible trading conditions. When significant volume comes into the market, Exness increases the spread and lowers your leverage.. which means Exness trades against its clients (us, the retail traders). They will take your money because the tranding conditions they create are by far in their favour.
– TrustPilot
Exness is just very manipulative and their support looking for words to put together to justify the fact that they took all the money in my account. I entered a trade with 3 usd stop loss and coming back to my account I saw that all my money has been deducted and taken out. I now have no money in my account and I was explaining to them they are saying they will look into it. I’ve been trying to contact support since then they aren’t even responding to me. They even cleared all my recent chat with their support but I’m so happy that I have evidence to back everything that I’m saying
– TrustPilot
Gradually people are getting to know Exness. I wish I could post a picture here for people to see what Exnes is doing but I will write in figures . I took a BUY on GBPUSD at a price of 1.25319 and market moved in favour of me so I pushed my stoploss to 1.25322 which is like break even and Exness took me out at a negative balance which I don’t understand and I have tried everything possible to chat them and am not getting them. Their system will tell you that we are transferring to an agent and it will never transfer. Gradually excess is collapsing because the report is becoming too much. I will not recommend this broker to anyone.
– TrustPilot
I have made a payment which was successful from my side but the transaction was not completed at Exness end. It’s been a month now, even after providing all the necessary documents they are unable to provide a solution. Do not use the UPI option which depositing the amount. They do not have their account details of the provider.
– TrustPilot
User Submitted Media
Reference Links
- https://www.linkedin.com/pulse/how-do-i-complain-exness-forex-trading-for-beginners2-yspnc
- https://www.linkedin.com/pulse/exness-withdrawal-issues-comprehensive-guide-exness-in-india-48dgf
- https://exbroker.in/exness-fraud-allegations/
- https://exness.pissedconsumer.com/complaints/RT-P.html
- https://www.forexpeacearmy.com/forex-reviews/5828/exness-forex-brokers
- https://www.myfxbook.com/community/general/how-i-got-ripped-off/429695,1
- https://www.reddit.com/r/IndianStreetBets/comments/1b5ossp/how_forex_brokers_who_claim_to_be_legal_in_india/
- https://www.reviews.io/company-reviews/store/exness.com
- https://www.reddit.com/r/shibadiba/comments/1565aob/exness_broker_is_a_scam_stay_away/
- exness.com/cdn/media/exnesssc/exness_sc_client_agreement.pdf
- https://www.fortuneindia.com/macro/investor-alert-rbi-says-forex-trading-on-these-34-platforms-is-illegal/109580
- https://www.reddit.com/r/HitoRank/comments/13cjt68/warning_list_stay_away_from_trading_scams_and/
- https://www.reddit.com/r/FxGeckoAPP/comments/whct0b/complaint_against_exnessdue_to_exness_inability/
- https://foxyrating.com/en/review-16573-exness
- https://www.myfxbook.com/community/general/how-i-got-ripped-off/429695,1
- https://www.trustpilot.com/review/exness.com?page=4&stars=1
Latest Posts
I need to get in touch, thanks for the information
Gradually people are getting to know Exness. I wish I could post a picture here
The regulatory non-compliance and market deception by Exness are unacceptable. Immediate action should be taken to address these issues.
I think I might be a victim of Exness’s practices
Feeling helpless in this situation
Exness is just very manipulative and their support looking for words to put together to justify the fact that they took all the money in my account.
I want to recover my lost funds
Get in touch
Michelle Brown
Who should I contact for assistance?
Regulatory Non-compliance and Market Deception
Unbelievable! How could this happen? Is there no regulatory oversight? There should be strict punishment for those responsible.
Can anyone share their experience of recovering losses from Exness?
Igor Lychagov’s questionable practices and the lack of regulatory compliance are extremely concerning. The victims must be heard.
I’m amazed at how Exness has operated, especially with the complaints from various clients. It’s important that people know about this.
It’s unfortunate to hear about Exness’s actions. Hopefully, they can be held accountable.
The article has some good advice for anyone affected.
The fact that Exness operates under multiple regulatory jurisdictions raises serious questions about their integrity and the protection of clients’ funds.
Getting in touch for funds recovery, thanks
Great app, great withdrawals experience but horrible trading conditions.
This is outrageous. The lack of transparency and abrupt market exit just shows how unethical this whole situation is.
I’m trying to recover my funds too, please help
I hope people can recover their funds and get justice.
Victor Williams
I’m confused and worried about my investment
It’s important to be cautious and seek professional help to recover your funds.
Victims should not have to suffer these financial losses. Exness’s unethical business practices must be exposed and rectified.
I entered a trade with 3 usd stop loss and coming back to my account I saw that all my money has been deducted and taken out.
I don’t know what to do, can someone guide me?
Need help in recovering my money
I hope this issue gets resolved for everyone involved and Exness is held responsible for their actions.
I want to find a way to recover my funds, please help
I want to recover my lost funds
How do I avoid falling into these traps in the future?
Gradually people are getting to know Exness. I wish I could post a picture here
Withdrawal difficulties and financial entrapment are clear signs of malpractice. This is appalling.
You should definitely take immediate action to recover your lost funds.
I cannot believe Exness’s behavior. This is unacceptable and must be rectified immediately. Victims deserve justice.
Benjamin Jenkins
Is there a way to report these issues and seek justice?
How can I contact you for help?
Will fill the form for help in recovering my funds
This sounds like a difficult situation. I hope things work out for those affected.
I’m interested in finding out how to get help after losing money in this situation.
The manipulative behavior of Exness and the negative experiences shared by the victims are truly alarming. This is an egregious situation.
I’m curious about how others have been affected by Exness. The victim stories mentioned are concerning.
I agree, there’s no time to waste, get in touch as soon as possible.
Linda White
I got scammed too, need help
In a similar situation, will fill the form
Megan Scott
Seems like a really difficult situation, reach out and get help.
I’m seeking funds, will reach out for help
The victim stories are heartbreaking. It’s crucial that people are aware of these issues and take action to recover lost funds.
Great app, great withdrawals experience but horrible trading conditions.
Recovering lost funds should be a priority. This situation could have far-reaching consequences.
I’ve been a victim as well, seeking assistance
Andrew King
Seeking help to recover my lost funds
It’s a shame to hear about these issues. I wonder what can be done to fix them.