97EX EXPOSED: A Deep Dive Into the Red Flags You Can't Ignore

Here is the 650-word analytical blog post written from the perspective of TraderKnows.

Blog Post Title: A TraderKnows Report: An In-Depth Analysis of the 97EX Platform

Subtitle: Our team's comprehensive findings on the platform's regulatory claims, operational footprint, and business structure.

At TraderKnows, our primary role is to provide clear, data-driven analysis to empower the trading and investment community. We believe that transparency is the bedrock of sound financial decisions. As part of our ongoing market review, the digital asset platform 97EX came to our attention.

The platform presents itself as a professional, U.S.-registered global exchange, offering a suite of services from spot crypto trading to futures. Our team undertook a comprehensive due diligence investigation into 97EX's public claims, regulatory filings, and operational data. This report details our findings.

1. Analysis of Regulatory Claims

The most significant marketing point for 97EX is its status as a U.S.-registered entity. This is often the first check for any diligent trader.

Our team verified that its listed operating entity, JIUQI LIMITED, is indeed registered with the U.S. Financial Crimes Enforcement Network (FinCEN) as a Money Services Business (MSB). However, a deeper look at this registration is essential for a complete understanding.

First, FinCEN itself explicitly clarifies that MSB registration is not an endorsement, license, or governmental approval of a business's practices. It is a filing and compliance requirement. Any insinuation of "FinCEN approval" is a fundamental misinterpretation of this filing.

Second, and more critically, is the specified scope of the registration. The business activities filed for JIUQI LIMITED are listed as "Dealer in Foreign Exchange," "Money Transmitter," and "check cashing." Our review of the filing found that these categories do not include or grant authority for the company's primary advertised business: the trading of cryptocurrencies, digital assets, or securities.

Furthermore, any entity offering securities or certain digital assets (which may be deemed securities) to U.S. persons would typically require registration with the Securities and Exchange Commission (SEC). We conducted a thorough search of the SEC's public EDGAR database. Our search found no registration records for "97EX" or its parent entity, "JIUQI LIMITED."

This presents a significant discrepancy: the platform's core service offering (crypto asset trading) does not align with the nature of its U.S. regulatory filing.

2. Operational Footprint and Digital Presence

Beyond regulatory claims, our analysis extended to the platform's operational history and digital footprint.

97EX operates from the domain 97.com. While this domain was first registered in 1996, giving an appearance of longevity, a review of internet archive records shows it was dormant or used for other purposes for most of its two-decade history. Its current function as the 97EX exchange is a recent development. This "aged domain" strategy can be used to create a superficial sense of an established history.

More revealing was our traffic analysis. Using multiple industry-standard analytics tools, our team measured the monthly visitor traffic to the platform's domains. The results consistently showed near-zero organic traffic. For a platform claiming to be a "global digital asset trading platform," this lack of any discernible user base or web activity is a fundamental contradiction.

This digital vacancy extends to its community presence. The platform's website lists icons for numerous social media channels, including Twitter, YouTube, and Instagram. Our review found these accounts to be almost entirely inactive, with no meaningful content, updates, or community interaction.

3. The "Agency" Business Model

Finally, our team analyzed the platform's user acquisition strategy, which is detailed in its "Agency Policy."

We found this is not a typical affiliate or "refer-a-friend" program. It is a complex, multi-level commission structure. "Agents" are heavily incentivized to recruit new users, and their compensation is tied directly to the trading volume generated by this "downline."

The commission rates are exceptionally high, reaching up to 45%, but are locked behind massive monthly trading volume requirements from one's recruits (for example, $5,000,000 in monthly volume to achieve the top "VIP agent" tier).

The design of this system places an overwhelming emphasis on recruitment as a primary profit center, rather than on the platform's trading products. This model's characteristics are more closely aligned with multi-level marketing (MLM) than with the standard user acquisition practices of a conventional, regulated financial institution.

Our Assessment

In summary, the TraderKnows investigation of 97EX found the following:

• A misleading regulatory claim based on a FinCEN filing for unrelated business activities.
• An absence of the necessary SEC registration for its advertised services.
• No evidence of a real user base, indicated by near-zero web traffic.
• A dormant social media presence, contradicting its "global" status.
• A core business model that appears focused on multi-level recruitment rather than on providing a legitimate trading service.

As an organization committed to transparency, we are publishing these findings for the benefit of the trading community. We believe this objective data speaks for itself, and we urge any potential users to conduct their own thorough due diligence.