Updated on January 19, 2024
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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 Eternal Wealth Group due to the issues we've identified.
Is Eternal Wealth Group Scam or Legit Broker? ▲
Eternal Wealth Group has been definitively identified as a fraudulent entity. Despite its assertion of being authorized by ASIC with the registration number 427848, our meticulous investigation has uncovered no evidence of such registration. Engaging with an unregulated broker poses significant risks, as they do not offer any form of financial investment security. Regulated brokers, on the other hand, are held to stringent standards by top-tier regulatory bodies, ensuring a safer and more reliable trading environment. Consequently, we strongly advise against placing trust in Eternal Wealth Group or any similar unregulated entities.
What is Eternal Wealth Group? ▲
Eternal Wealth Group operates as a Forex broker, presenting its services under two distinct banners: eternalwealthfx.com and fxtrading-hk.com. Despite its claims of regulation, both these entities remain unlicensed, promoting the same deceptive information concerning their regulatory status. The broker suggests having operational branches in the US and Hong Kong, yet lacks the requisite licenses from the respective financial authorities of these jurisdictions, namely the NFA and the Hong Kong SFC. Furthermore, the absence of client feedback, despite its claim of being in operation since 2007, raises significant concerns regarding its legitimacy. Compounding these issues are the numerous warnings from respected regulatory bodies, including ASIC, alongside alarming reports from individuals who allege substantial losses after investing with Eternal Wealth Group. These factors collectively underscore the high-risk nature of engaging with this broker.
Our latest findings reveal that the Eternal Wealth Group's website is currently inactive, indicating a cessation of its trading services. While this may suggest a halt in operations, we urge potential traders to remain vigilant against any future solicitations from this or similar entities. The history of deceptive practices and lack of regulatory oversight associated with Eternal Wealth Group warrants a cautious approach to any dealings or engagements.
Through our comprehensive review process, including an in-depth analysis of regulatory status, customer feedback, and operational practices, we have identified Eternal Wealth Group as an unequivocal scam. The absence of legitimate regulation, coupled with misleading claims and negative client experiences, form the basis of our recommendation to avoid Eternal Wealth Group and similar unregulated brokers. Instead, we advocate for trading with brokers that are regulated by reputable authorities such as CySEC, FCA, or ASIC, which offer greater security and reliability for traders. In conclusion, the risks associated with Eternal Wealth Group far outweigh any potential benefits, underscoring the importance of exercising caution and conducting thorough research before engaging with any Forex broker.
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.
Eternal Wealth Group Review 2024
