The Persian version of Exelium's site ends every page saying the Anguilla company is registered and has obtained a licence. The English, Spanish and Chinese versions of the same footer say only that it is incorporated. The Exelium Ltd agreement you would sign names no licence and no regulator.
Why this matters
If you read the Persian pages, you believe a financial authority is watching this company. Nothing in its contract supports that, and no regulator is named anywhere in the document to take your complaint.
Exhibit 1Every flagged clause gets its own number so you can point at this one. The number does not change, so a link to it keeps working.CriticalHow much this clause can cost you, in our reading. Critical can take your money or your profit. Warning can delay or limit it. Notice is simply worth knowing before you sign.Rarely seenHow ordinary this wording looks next to the contracts we read. This is our reading of the clause, not a count of other brokers.
Exelium Ltd (hereafter the “Company”) is a limited liability company incorporated and registered under the laws of Anguilla, with Company number A000001254 and a registered address at Anguilla, The Valley, AI-2640, No.8 Cassius Webster Building, Grace Complex.
Where it sits: section 5 of 147 in the Client Agreement, near the start.We counted the numbered sections in the Client Agreement. This clause sits in section 5 of 147, about 3% of the way through. A fee written on the first page and the same fee written near the end are not the same disclosure.
Our readingOur own comment on the clause, not the broker's words. Anything we quote is marked as a quotation.The extra words appear in one language only. The same sentence, on the same site, in three other languages stops at incorporation, so the claim is added exactly where a reader is least likely to check the English contract.
- Worse together with Exhibit 2Read these two clauses together. Each one costs more because the other exists.One page tells a Persian reader the company is licensed and then hands them a contract belonging to a different company in a different country.
