Caution Investors EverMarketsFX (Comoros) Ltd – Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
Who Are They?
EverMarketsFX is associated with EverMarketsFX (Comoros) Ltd, a company registered in the Comoros Islands. However, the Comoros Islands are known for their loose financial regulations and lack of oversight. Their website claims their registered office is at 2, Boulevard de la Foire, L-152, Luxembourg, but there are doubts about the legitimacy of this address, as we will explore later.
Regulation and Compliance: CSSF Issues Warning
Regulation is a critical factor when choosing an online broker. It ensures that your funds and rights as a trader are protected. Unfortunately, EverMarketsFX lacks regulation and has been blacklisted by the Commission de Surveillance du Secteur Financier (CSSF) of Luxembourg. On September 7th, 2023, the CSSF issued a warning stating that EverMarketsFX (Comoros) Ltd is not supervised or authorized to provide investment services or other financial services in or from Luxembourg. This is a significant red flag for potential traders.
Customer Reviews
Customer reviews offer valuable insights into an online broker’s credibility and reputation. They can shed light on the platform, customer service, trading conditions, and overall experiences. However, the reliability of customer reviews varies, with some potentially being manipulated or paid for by the broker or its competitors. It’s essential to cross-reference multiple sources for consistent patterns.
We conducted research on various platforms, including social media (Facebook, Twitter, Instagram) and online trading forums and review sites like Trustpilot and ScamRecovery.net. The overwhelming majority of reviews about EverMarketsFX were either negative or suspicious. Customers complained about issues with withdrawal requests, blocked accounts, trade manipulation, and pressure to deposit more funds. Some mentioned recovering their funds with third-party assistance. Based on this feedback, EverMarketsFX appears to have a questionable reputation among traders.
Products and Services
EverMarketsFX claims to offer a wide range of products and services, including:
– Forex: Allegedly over 50 currency pairs with low spreads and high leverage.
– CFDs: Contracts for differences in commodities, indices, stocks, and cryptocurrencies with competitive prices and flexible margins.
– Commodities: Trading in gold, silver, oil, natural gas, coffee, sugar, and more with low commissions and high liquidity.
– Indices: Trading in major global indices like S&P 500, NASDAQ 100, and FTSE 100.
– Stocks: Trading in hundreds of popular stocks from various sectors and markets with low fees and high leverage.
– Cryptocurrencies: Trading in Bitcoin, Ethereum, Litecoin, Ripple, and more with low spreads and high volatility.
However, these claims lack verification and supporting evidence on their website. The website does not provide essential details about the trading platform, account types, fees, commissions, spreads, leverage, execution speed, order types, or risk management tools. Additionally, it lacks educational and analytical resources like webinars, articles, videos, charts, signals, or indicators. The website’s unprofessional design, lack of transparency, and credibility issues raise concerns about the authenticity of these claims.
Location
EverMarketsFX claims to have its registered office at 2, Boulevard de la Foire, L-152, Luxembourg. However, as mentioned earlier, the CSSF of Luxembourg has warned that EverMarketsFX (Comoros) Ltd is not authorized to provide financial services in or from Luxembourg. A Google Maps search reveals that this address does not exist or correspond to any company or entity. This address also resembles the one used by another scam broker called EverFXGlobal, which has faced scrutiny from authorities and review sites. This raises suspicions that EverMarketsFX might be using a fake or virtual address to deceive customers and avoid legal consequences.
Customer Service
EverMarketsFX claims to offer professional and responsive customer service via phone at +34672520204 or through email at [email protected]. However, these contact details are unreliable, as many customer reviews have reported unresponsiveness, rudeness, or even aggression from the customer service team. Some customers also mentioned that the provided phone number is disconnected, and the email address is ignored or blocked. Furthermore, the broker does not offer alternative means of communication like live chat, social media, or online forms, which further underscores their poor and inadequate customer service.
Conclusion
After a thorough review, it is our unequivocal recommendation to steer clear of EverMarketsFX. The broker’s lack of regulation and the CSSF’s warning raises significant concerns. The numerous negative and suspicious customer reviews, coupled with their unverified claims about products and services, further tarnish their reputation. The use of a likely fake or misleading address and the poor customer service provided by EverMarketsFX only solidify our conclusion that this is not a reliable or legitimate broker for online trading. Your financial security and success deserve a more trustworthy and transparent partner.
