Updated on April 4, 2024
Quick Links
In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding eMarketsTrade due to the issues we've identified.
Is eMarketsTrade Scam or Legit Broker? ▲
Engaging in trading activities with eMarketsTrade is highly inadvisable due to its status as an unregulated entity. Our extensive investigation into the company's operations has uncovered a lack of any legal authorization or registration, casting a shadow of doubt over its legitimacy. The absence of regulatory oversight renders eMarketsTrade a potentially fraudulent entity, with suspicions arising over the authenticity of its claimed operational base. Consequently, the risk to traders is significantly heightened, making it prudent to steer clear of eMarketsTrade for any trading endeavors.
eMarketsTrade emerges as a broker dealing in Forex, CFDs, and cryptocurrencies, under the ownership of Kalessica, which professes to be based in Cyprus. Despite its claims of regulation within Cyprus by the Cyprus Securities and Exchange Commission (CySEC) under the registration number 380321, no records corroborate this claim. The provision of contact numbers with UK, Italy, and Germany country codes indicates an attempt to target residents from these countries. However, without authorization to offer financial services in these or any other jurisdictions, eMarketsTrade's operations are highly questionable.
Adding to the concerns, the UK's Financial Conduct Authority (FCA) has issued warnings against eMarketsTrade and Kalessica, categorizing them as entities unauthorized to conduct regulated activities within the UK. This action by the FCA underscores the illegitimacy of their operations and the potential risks to traders and investors. The international regulatory community's efforts to list alerts and share information aim to safeguard market stability and protect consumers from fraud. eMarketsTrade's lack of a legitimate operating license within the EU and other regulated jurisdictions has led to it being blacklisted and issued alerts by EU authorities.
The evidence strongly discourages any engagement with unregulated entities like eMarketsTrade, particularly when deceptive practices, such as using fictitious registration details, are employed to gain the trust of potential clients. We urge traders and investors to conduct their trading activities with financial firms that have received authorization from reputable regulators, such as the FCA in the UK or CySEC in Cyprus. It is advisable to opt for well-regulated brokers, including those based in the UK or Australia, and to consider established and reliable brokers like AvaTrade and XM for a secure trading environment.
eMarketsTrade Update
Our latest findings indicate that the eMarketsTrade website is no longer active, signaling a suspension of their trading services. Despite this development, caution is advised against any future propositions or reactivation attempts by this broker. The discontinuation of their online presence further validates the concerns raised about their operations, reinforcing our recommendation to avoid eMarketsTrade and to remain vigilant against similar unregulated entities.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
eMarketsTrade Review 2024
