EverFX Trade Review
Are you trying to sort through the hundreds of online brokers that can be found in the market nowadays? You are certainly not alone, as this daunting task has to be dealt with by anyone with even a slight interest in the financial markets. The number of companies offering their trading services has increased rapidly over the years, as online trading has become a global trend. The problem is that cybercriminals has also used this opportunity to set up fake companies and platforms for exploiting people and this has created a whole new set of problems for people.
These platforms come off as very convincing and authentic, enough that they have ended up fooling a lot of people. You obviously don’t want to deal with such a situation. So, when you come across EverFX Trade, you will definitely wonder if it is a genuine broker, or just another one of the scams boasting a sophisticated website and making tall claims. This is where you need an EverFX Trade review to clear things up. Read on to learn the truth:
According to the EverFX Trade website, they are a reputable, global and fully-regulated broker that provides access to more than 130 trading instruments to both institutional and retail investors. They state they are committed to fair trading practices, but a closer look will tell you a different story.
Regulation and Licensing
When you visit a broker’s website, you expect to find details about the company behind it, the location and other details. But, a quick look at the EverFX Trade website will show you that it is completely anonymous. There is no mention of the company running it, or where their headquarters are located. In addition, there is a possibility that this broker has not chosen its name by chance either. Whoever is behind it has chosen the name EverFX deliberately because this is the name of a legitimate brokerage in Cyprus.
Even though EverFX Trade doesn’t claim to be linked to the broker in Cyprus or about being licensed by CySEC, it appears that the team behind this fraudulent platform is trying to attract clients from the legitimate venue. It is best to steer clear of a broker like that.
Terms & Conditions
You are asked to agree to the Terms & Conditions of every platform you sign up on and this is no different for an online broker. While in most other cases, people may not pay attention to these, they are of the utmost importance here because you will learn what kind of trading costs you will incur, their policies for deposits and withdrawals, bonuses and more. The problem is that EverFX Trade has no Terms & Conditions listed on their website. Of course, you have to give your agreement, but you won’t know what you are agreeing to. There is no Client Agreement or any other legal document either. It is not something that a legitimate broker would do.
Brokers provide their clients with a trading platform they use for executing their trades. Different types of platforms exist, so traders should check which one is available to see if it is a good one or not. So, what trading platform does EverFX Trade offer? The answer is none. They have some kind of user dashboard where the only option you are given is to make a deposit. You will not find any charts, quotes or anything else for that matter. The lack of a trading software indicates that they are just trying to trap their clients into making a deposit and then prevent them from making a withdrawal.
Leverage and Minimum Deposit
You will be disappointed if you want to know how much leverage EverFX Trade offers or the minimum deposit it requires because there is no information available on their website.
Given that the broker is unregulated, has no legal agreement and doesn’t share any information, it is apparent that EverFX Trade is not a good platform to sign up on.