EUFinance Review: An In-Depth Analysis
Looking all official and representative, EUFinance broker is nothing but a fraud. They are luring clients to think that they’re dealing with a legitimate EU company, just for them to find out that the broker is unregulated and shady. Read more about it in our EUFinance review.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||CONSOB, CNMV, FI|
|Supported Platforms:||Web trader|
|Cryptocurrencies:||Available – BTC, ETH, LTC|
|Types of Assets:||FX, commodities, cryptocurrencies, indices, shares|
|Free Demo Account:||No|
|Accepts US clients:||No|
What About EUFinance Regulation?
While brokers are not legally obliged to list their owners, in the business of finance it’s highly recommended to know who is behind the operation due to transparency reasons. Furthermore, it would be good to list all the company’s regulations, so clients can see where to seek assistance if the problem occurs.
Unfortunately, being transparent is not on EUFinance’s list of tasks. There’s no owner, but we do have an address in the UK. It implies that the company should hold an FCA license. After throughout check, we can say that EUFinance is not licensed by the FCA or any other Tier1 regulator, and it’s all just a good show.
EUFinance Warnings From Financial Regulators
The first warning against the EUFinance scam was published in September 2021 by the Spanish regulator CNMV.
This warning was later republished by the Italian CONSOB and FI of Estonia, both stating that EUFinance is a fraud and you should avoid it by all means.
EUFinance Assets and Markets
EUFinance offers access to numerous trading instruments, including:
- Forex assets
Since there’s no Demo account, determining the exact number was impossible. We’re unwilling to invest $250 with an unregulated scheme, so we can only speculate on the diversity. Assets come with the leverage of up to 1:400 and the spread of 2.4 pips for EUR/USD pair. Risky and pricey.
Fund Withdrawal Issues With EUFinance Broker
It was essential for us to check clients’ opinions with everything being said. Some brokers avoid regulations due to costs yet maintain a high level of support and assistance. Unfortunately, EUFinance is not one of them.
Clients who invested money were pressured to invest more and more under different excuses – good market opportunity, margin support, bonuses, and more. Once they had submitted withdrawal requests, excuses continued until the broker had nothing left but to start freezing accounts.
If you have noticed recently that you cannot log in to your trading account or access your funds, report it immediately.
Areas Of EUFinance Trading Scam
Based on its name, we can assume that EUFinance targets clients of the EEA zone. Most complaints have come from the Czech Republic, Spain, Austria, and Germany. Besides, you can find reviews from the UK, the Netherlands, and more.
All you need to know is that you’re not entitled to any compensation fund or assistance by any EU authority body, so accepting offers from EUFinance is a high risk.
Traders About EUFinance Scam
As you can imagine, there are no good opinions about EUFinance. Their website looks extremely professional, yet clients are misguided to believe that they are investing with a legitimate company. Still, in the end, they have nowhere to complain when they cannot get the money back.
If you have been through something similar with EUFinance, let us know.
How Does Online Trading Scam Work?
Online trading scams start once you sign up or have any sort of communication with a fraudulent broker. It can be over the phone, email, social media, etc. The main idea is to give your money, and the person on the other side will make you believe that you’re about to become the next Elon Musk. However, there’s a problem. Unregulated companies are not willing to give away any money. They are here to extort as much as possible and disappear. Make sure to check who you’re starting the business with before it’s too late.
Scammed by EUFinance? – Tell Us Your Story
If you were scammed by EUFinance or a similar illicit investment firm, let us know. Our chargeback specialists will be more than happy to assist you with this matter and help you get your money back.
But What Is A Chargeback?
That’s a way for your bank to reverse the fraudulent transaction and retrieve your money from the merchant. Contact us now for further information, and let’s take the first step towards a refund. Note that our consultation is free and can be booked via online chat.
What Is EUFinance?
EUFinance is an online trading firm without a license.
Is EUFinance A Scam Broker?
EUFinance has been blacklisted in Spain, Italy, and Estonia and marked as a scam firm.
Is EUFinance Regulated?
EUFinance is not regulated and provides financial services illegally.