Ec Markets appears to be a broker that claims to be regulated, but it lacks the reliability that many seek in a trading platform. This company operates through various domains and appears to be deliberately attracting clients from jurisdictions where it may not have legal authorization to do so. Additionally, the trading environment they provide falls short of the standards set by more reputable brokers. Read this complete Ec Markets review to know why we add this broker to our scam broker list.
Furthermore, upon examining its online reputation, it becomes evident that Ec Markets falls short of commendable standards. Dissatisfied customers consistently express negative feedback, creating a prevalent theme in their history. Their track record is undoubtedly far from satisfactory.
Website – https://ecmarkets.net/
Website Availability – Yes
Address – 17th Floor, Heron Tower, 110 Bishopsgate, EC2N 4AY, London, United Kingdom
Suite 4B, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles
Warning – Not recommended by the review website like Scam Bitcoin
Regulated – Unregulated
Domain Age –
| Domain Name | ecmarkets.net |
|---|---|
| Date Registered | April 21, 2020 |
| Domain Age | 3 years, 3 months, 7 days, 20 hours, 5 minutes, 19 seconds |
Regulation
Ec Markets left us puzzled with regard to its regulation. The broker asserts to hold licenses from some of the strictest financial authorities globally, including the FCA in the UK, the FSA of Seychelles, and the FSC of Mauritius. However, our investigation revealed that the broker is indeed licensed but not under the domain ecmarkets.net.
This irregularity is highly unusual for a legitimate broker. Additionally, we observed that this particular branch of the broker appears to be specifically targeting US clients without possessing a local US license. This practice is illegal and raises concerns about the reliability of the company as a safe destination for your investments.
Ec Markets Review: Trading Platform
Our encounter with EC Markets purported desktop MetaTrader 4 platform left much to be desired. Regrettably, despite our efforts to test it, the downloaded file consistently failed to open. Such recurring technical glitches raise concerns about the platform’s performance and reliability, which is certainly not a positive indication.
We cannot stress enough the importance of exercising caution and refraining from downloading files from sources that are deemed unreliable. In this instance, ecmarkets.net clearly falls into the category of an unreliable source. It is essential to prioritize safety and choose reputable sources when engaging with trading platforms.
Ec Markets Review: Trading Assets
Ec Markets provided access to well-known markets such as forex, metals, oil, indices, and cryptocurrencies. However, the range of trading instruments they offered was relatively limited. Legitimate brokers typically provide hundreds, and sometimes even thousands, of instruments across various asset classes. In addition to the ones mentioned above, these brokers often offer stocks, other commodities, futures, bonds, options, ETFs, and more. The comparatively restricted selection of trading instruments at Ec Markets is worth noting when considering their overall offerings.
Deposit and Withdrawal Methods
Ec Markets raises concerns about its lack of transparency concerning minimum deposit requirements.
Despite offering three account options – PRO, ECN, and STD accounts – the broker fails to furnish clear and detailed information about the minimum deposit amounts for each account type.
Moreover, while Ec Markets highlights that deposits are free of fees, the absence of explicit information regarding the minimum deposit requirements leaves potential traders uncertain about the financial commitment necessary to open an account.
Additionally, Ec Markets restricts deposits solely to bank transfers, overlooking other widely-used options such as cryptocurrencies and e-wallets, which are currently unavailable on their platform.
Ec Markets Review: Trading Conditions
The ultra-low spreads as low as 0.0 pips on major currency pairs, along with no commissions and charges, may make Ec Markets seem enticing, it is vital not to overlook the significance of a legitimate forex license and the security it provides.
Furthermore, the excessively high leverage offered by EC Markets, reaching as high as 500:1 on Forex, 500:1 on Metals, and 200:1 on Crude oil, raises another red flag, indicating that this unreliable broker is not regulated in the United States.
It’s important to note that US-regulated brokers are required to adhere to leverage caps set at a maximum of 50:1. This discrepancy in leverage levels raises concerns about the broker’s regulatory compliance and poses potential risks for traders.
Conclusion
If you have fallen victim to the Ec Markets scam or any other fraudulent activity, there is a way to seek resolution and support. You can visit our Scam Bitcoin website, where we have developed a user-friendly complaint form tailored to address concerns related to scam brokers. By utilizing this form and submitting your complaint, you will gain access to a free consultation with our team of experts dedicated to assisting you in resolving your situation.
More about Scams
Recent Comments