Exorays Review: Scam Or Legit?

Exorays Regulatory Status: Was This Entity Licensed?

Exorays, despite its offers of financial services, has faced warnings from The Dutch Authority for the Financial Markets in The Netherlands, and customer complaints highlight potential issues. It is crucial to verify a company’s regulatory status, as operating without a license suggests illegal activity. The jurisdiction of the regulatory authority is equally important; for example, services in Australia require ASIC’s authorization. It’s always necessary to check the regulatory status of a company like Exorays. This means, you should see whether the company has a license to offer financial services or not. In Exorays’s case, their regulatory stance appears inactive, raising concerns. Legitimate companies typically showcase their licensing status proudly, indicating legal operation and full authorization. In contrast, entities like Exorays often obscure such information, casting doubt on their legitimacy. The lack of a license indicates that the company is offering its financial services illegally as it doesn’t have the permission. While checking the regulatory status of the company, you should check their jurisdiction as well. For example, a company offering financial services in Australia would need a license (or authorization) from the Australian Securities and Investments Commission (ASIC). When you know who’s the regulator of the service provider, you can report your grievances directly to them. However, it seems in the case of Exorays, that the regulatory authority isn’t really active. A good indicator of whether you can trust a company like Exorays is to see if they are open about their licensing information. Companies that have a legitimate license are quite boastful of this status. After all, it showcases that they are a legal entity which full authorization to offer financial services. On the other hand, companies similar to Exorays keep such information hidden or away from places where someone might notice them. Another thing to keep in mind is not every license is equal. There are plenty of regions where it’s far easier for a company to get licensed. Some examples include Cayman Islands, St. Vincent and Grenadines, Malta, etc. Due to their lenient regulations, such regions have also gained notoriety for being tax havens. Furthermore, if a company has a license in one region, it doesn’t mean they can offer their services in other countries as well. Each country has its own regulatory authority (in most cases). Hence, it’s vital to see whether the company you’re working with has a license from the financial regulator of your country or not. Companies that only have a license in a lenient country like SVG are no better than unlicensed ones. As a result, we categorize those companies as unregulated as well. In the case of Exorays, it’s apparent the Exorays is unregulated and unauthorized to offer financial services. You should be wary of working with them.

What Claims were Made by Exorays?

If the claims made by a company sound too good to be true, they probably are. You should always be skeptical of companies that make claims that sound too over the top. Some examples of such claims include:

• • Get 200% returns within a year of investment!

• • Turn $20 to $100k with this simple trick

• • Our investors made over $1 million with this course (GET IT NOW)

These are just a minute example of what kind of claims companies similar to Exorays make. In 2022, UK’s financial watchdog FCA had to take down over 8,000 misleading ads from digital platforms alone.

Exaggerated and outrageous claims are the biggest red flag of online scams. Another thing to look for is whether the company making these claims can back them up with some evidence or not. Lack of substantial evidence is another major red flag that investors should look out for. In the case of Exorays, it’s obvious that the company made unwarranted and unsubstantiated claims.

Are there Any Exorays Reviews Online?

Always check for the reviews of a company before doing business with them. If a company doesn’t have any reviews online, it’s better to stay away from them. However, it’s also worth noting that many companies have started purchasing fake reviews for their online profiles. While platforms like Trustpilot have always worked towards combating fake reviews, online discussions indicate that their efforts haven’t been 100% effective. As a result, you should consider going through the reviews yourself and see if they seem legitimate or not. That’s why when looking into Exorays reviews (or any other company’s reviews) you should be extra cautious. Checking Exorays reviews can help you get an idea of what other customers went through and whether they are reliable or not. Have you dealt with Exorays before? You can share your experience with us through the contact form or in the comments section below.

How are People Scammed by Entities like Exorays?

While each case is unique, a common pattern among entities like Exorays is as follows:

1. 1. Running ads with exaggerated claims Companies similar to Exorays run ads on various platforms including Instagram, Facebook, TikTok and more. They make various claims which seem too good to be true and catch the attention of unsuspecting individuals.

1. 1. Posting fake success stories on social media To make their offers seem legitimate, such companies post false success stories of how people got rich with their services/products. This makes it convincing for people to sign up for them.

1. 1. Contacting people through different means The marketing team of Exorays or other firms might even resort to sending direct messages to consumers on social media or email. They might even add a personal touch to those messages to make them seem genuine.

1. 1. Adding fake testimonials This is a major issue and it’s why you should exercise caution when reading Exorays reviews online. Many companies resort to posting false reviews to enhance the credibility of their brand.

1. 1. Giving small ROIs initially to gain trust In order to make you invest a large amount with them, such companies tend to give small returns quickly. This way, a victim might assume that they are working with a legitimate financial company and invest further.

1. 1. Ceasing all contact after securing a certain investment Once the company has received a significant investment from the victim, they stop responding to the customer altogether. Many victims have reported that the company’s customer support stops picking up their calls or reading their messages.

What to do If you’re a Victim of Exorays Scam

If you believe Exorays is a scam, here’s what you should do:

• • Stop communicating with Exorays. They might ask you to share more info which they might use against you. It’s best to cease all contact with them.

• • Report Exorays: You can report them to your local authority or the financial regulator of your jurisdiction.

• • Get in touch with a lawyer: If you suffered a substantial loss, you can consult an attorney and try to take the matter to court. However, keep in mind that it might take a significant amount of time and effort.

• • Hire a chargeback service: To recover your lost funds, you can hire a chargeback service as well. Such companies specialize in funds recovery and charge a small fee. We recommend this chargeback firm.

If you want, we can connect you with a chargeback company as well.

Exorays Review Summary

Furthermore, reviews can offer insights into a company’s reliability. However, the practice of purchasing fake reviews complicates this evaluation. Therefore, scrutinizing Exorays’s reviews for authenticity is advised. Common scams by entities like Exorays include exaggerated claims in ads, fake success stories on social media, personalized outreach, and deceptive testimonials. These tactics often aim to build trust before abruptly ceasing communication after securing significant investments. If you suspect you’ve been scammed by Exorays, it’s advised to halt all communication, report them to relevant authorities, consider legal action, and explore chargeback services for fund recovery. In summary, Exorays’s operations raise significant concerns regarding its regulatory status, promotional claims, and customer feedback. For individuals affected, pursuing justice through reported channels and expert assistance is recommended.