Updated on January 29, 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 Trading Epic due to the issues we've identified.
Is Trading Epic Scam or a Legit Broker? ▲
Upon a thorough examination, it becomes evident that Trading Epic falls significantly short of being considered a safe or legitimate Forex broker. This is primarily due to the absence of any licensing from globally recognized Forex regulatory bodies. Such a deficiency casts a shadow of doubt on the broker, branding it as potentially fraudulent, as it has not undergone the necessary checks for compliance prior to its establishment, nor has it been subject to ongoing scrutiny to ensure its operations are secure. Consequently, it operates without any regulatory oversight, leaving it free to conduct its business as it pleases, which is a concerning prospect for anyone considering it as their trading platform.
Trading Epic positions itself as a broker that caters to a wide array of trading preferences, including forex, commodities, stocks, indices, futures, and even cryptocurrencies like Bitcoin. It also mentions offering binary options, which requires scrutiny given the need for a licensed provider (see Licensed Binary Options Brokers). Alarmingly, the broker does not reveal any information regarding the company behind the brand, raising immediate concerns over its transparency and reliability. Furthermore, despite claiming regulation by notable authorities such as the CFTC in New York, the International Financial Services Commission of Belize, the Cyprus Securities and Exchange Commission, the Financial Services Board of South Africa, and registration with the Financial Conduct Authority of the UK, none of these claims hold water. A verification check across these regulatory bodies' registers reveals that Trading Epic lacks any form of license to provide financial services, casting serious doubts on its legitimacy. Adding to the concern is a warning from the Financial Conduct Authority, explicitly stating that Trading Epic is not authorized to operate within the UK and is suspected of engaging in unauthorized regulated activities.
In light of the evidence gathered through our meticulous review process, our advice to investors and traders is to steer clear of Trading Epic and other unregulated brokers. The glaring absence of crucial information such as the broker's regulatory status, trading conditions, and contact details serves as a considerable red flag. Typically, entities that operate in such an opaque manner are involved in investment scams, posing significant risks to those who choose to invest with them. For a secure trading experience, it is advisable to opt for brokers that are well-regulated by reputable bodies such as those in the UK or Australia, and to consider reliable brokers like Alpari and XM.com.
Update on Trading Epic: It has come to our attention that the Trading Epic website is currently inactive and unreachable, suggesting that the broker has ceased its trading offerings and is no longer opening accounts. Despite this development, we urge traders to remain vigilant and exercise caution should they encounter any trading proposals from this entity.
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.