EUFM Review – How They Earned So Many Warnings
Nice and friendly website with a pinch of elegance opens with a threatening message about EUFM being here to stay. If we just think of all the warnings, this is quite an arrogant thing to announce. EUFM further explains how they are a multi awarded trading platform with exceptional service and technology. You know, all the usual stuff you will find with the most unregulated ones of them.�
EUFM Ltd seems to be based in Marshall Islands, where they also operate without a proper authorization. Such methods to conduct business have brought upon EUFM so many warnings by various financial watchdogs. We’ll bring you a thorough report on all the firm’s misdoings in this EUFM review. So continue reading as we unmask this complex fraudulent scheme.���
|Unregulated Offshore Broker
|Blacklisted as a Scam by:
|BaFin, CNMV, CONSOB, FINANSTILSYNET, DFSA, FSMA
|Yes (Bitcoin, Litecoin, Ethereum, Zcash)
|Types of Assets:
|Forex, Crypto, Commodities, Stocks
|Free Demo Account:
|Accepts US clients:
What Is EUFM?
EUFM is a brokerage brand, illicit might we add, owned and operated by EUFM Ltd from Marshalls. Their full name is European Financial Markets, or so the website explains. The supposedly outstanding service at EUFM is customer-oriented, as it’s focused on helping traders meet their profit goals. If you remember what we wrote about Stake-Hub, you know that EUFM is just the same, nothing better or remarkable.
Whether you wish to succeed in trading Forex, Crypto or some other asset, EUFM offers their help to do it. We honestly wonder what help an illegal broker could offer clients in order to aid them in achieving their trading ideals.�
Either way, the broker also likes to present itself as a multiple award-winning platform with breathtaking functions, low costs and high security. Empty promises and fake dreams is all a scam broker can offer in short. Keep reading our EUFM review to see why you cannot trust such a suspicious financial service provider.
EUFM Regulatory Problems
If EUFM was such a great and unparalleled trading platform, they would have a license. In essence, only the confirmation from a Tier 1 regulatory body indeed guarantees you safety while trading with any broker.�
License means that a broker provides segregated bank accounts for keeping safe the� customers’ funds. It also includes the additional risk-reducing measures such as leverage limit and negative balance protection.�
Dubious brokers provide none of it. EUFM doesn’t limit their leverage to 1:30 or 1:50, depending on the regulator. The site neither has negative balance insurance or access to a financial ombudsman for the users to compensate for a potential loss.
All EUFM does is boast about having such amazing service, customer support and costs that everyone should immediately invest with them. But since they do not even mention regulations, we had to investigate the matter on our own. Licensing house in Marshall Islands – GLOFSA has not included EUFM in their register of regulated firms.
Next mandatory thing to do is check the databases of regulators that enforce Tier 1 security and standards of investing. As mentioned, all the feedback we ever got were the warnings, nothing on EUFM having a license. So we will list them all in the following section of this EUFM review.
Warnings Against EUFM eu Scam
As already made clear, EUFM has no regulatory license and their legal status solved. The broker operates under the radar, and does not follow a law framework that defines all the aspects of their conduct.
That has attracted the attention of the financial authorities from quite a few countries. Some of the alerts are reposts from one regulator’s page, but we’ve listed them all, nonetheless. All the specific warnings can be found on each of the regulator’s official website:
Where Does the Broker Operate? – Countries of Service
In business for over two years now, since 2021, EUFM is terrifyingly active in a number of areas. After all, the sham doesn’t mind where the customers come from. All that counts are the investing capabilities of the potential victims. That’s the single criteria that EUFM uses while hunting for new victims. This is the list of the countries that most of their targets come from:�
- United States
- United Kingdom
Opinions of Traders on EUFM
The couple of reviews we dug out on TrustPilot do not speak highly of EUFM. Customers are completely dissatisfied with the services. Majority of the ratings are negative:
They won’t let us withdraw our money .Bad experience. I do not recommend. I don’t have any answers from support
The company has devised ways in siphoning people’s funds from them after you start doing business with them. It was so shady and hidden
What Is EUFM’s Range of Instruments?
EUFM is proud to announce they offer more than 250 different tradable assets to buy and sell on their platform. First of all, even if the number is true, there’s far better brokerage corporations that offer far more instruments for a much smaller investment. Secondly, the swindler can claim just about anything. But investing with them is still futile if they have no license.�
We will still list the groups of financial products that EUFM mentions:
- Forex (EUR/USD, GBP/CHF, USD/JPY, NZD/AUD, CAD/USD)
- Commodities (Natural Gas, Crude Oil, Silver, Corn)
- Indices (S&P500, Nasdaq 100, Dow 30, Nikkei 225)
- Crypto (Bitcoin, Ethereum, Tether, Binance Coin, Cardano)
Trading Platform – Available Software
If you expected to see something innovative and on par with the prestigious trading software today, then we’re sorry to disappoint you. EUFM offers a single piece of borderline useless platform – the web trader.�
While it offers a good insight into the available instruments, there’s an option for a single graphic preview of the price movement. Sure, you can customize it to some point, but the complex layout of MT4, MT5 and cTrader is far more reliable and always recommended.�
So, in order to stop you from losing time and money on mediocre platforms, we recommend you to skip the EUFM software and choose the ones offered by a reputable broker.
Choice Of Trading Accounts
EUFM says they have a range of different trading accounts with special benefits, tools, options, learning and spreads. However, in order to find out all the exact details that each account type features, you have to talk to the account managing office. Just a common excuse to force you into the trap that will manipulate you into investing.�
The prices of these packages are extreme to say the least. Whenever you feel tempted to buy any of these, just remember that regulated brokers offer micro accounts for a starting investment of just $10. Even if you make a mistake, you won’t regret the few dollars spent. EUFM has investment demands that will make you easily ruin your life and career, how expensive they are:
- Basic Account – 3 500 €
- Standard Account – 7 000 €
- Pro Account – 25 000 €
- Vip Account – 100 000 €
Withdrawing Profits From Your Broker Account
Typical for these types of sham, EUFM charges everything they can charge. If you’ve read our Prive Finance review from before, then you understand what we mean when we consider these two con artists to be similar.
EUFM will ask you to pay fees for every single move you make on their platform. Even if you do not move at all and it lasts more than 6 (six) months, they will start deducting 10% of your total funds on a monthly basis.�
Withdrawing your cash from your account is also followed by fees, depending on the transfer method you choose. $50 is charged for wire transfers, $25 for credit cards plus a processing fee of $10 but $25 for ePayments. A levy of 10% of the withdrawal amount will be additionally charged if an account that has not executed more than 200 in turnover and/or from accounts that have not been verified. But wait, that’s not all.�
EUFM puts before you one condition that can render all your withdrawal attempts futile. If you’ve accepted any of the bonuses, especially deposit bonus, you first have to reach the trading volume requirement.�
Otherwise no withdrawal is possible prior to the execution of a minimum trading volume of 25 times the deposit amount plus the bonus issued. So not only are you denied from picking up your profits, but your initial investment is also jeopardized. Still interested in investing here?
Scammed by EUFM eu Broker? – Let Us Hear Your Story
Never ever feel ashamed of being scammed. Such a feeling will only push you further into despair and isolation, so it does you absolutely no good at all. So please, understand that there’s hundreds and even thousands of people who get scammed daily. Thinking their financial life is ruined forever, they let the scammer get away. Do not be one of them and do not let the fraudster spoil your financial future.�
If you contact us promptly, we can offer you useful advice that you can use as guidance for your next step. Most importantly, we do not charge anything, so all the advice you get is free. Not only will it help you regain your funds legally, but it will also make you feel better in no time. So let us hear your story, we’re always available for chat.
Is EUFM Legit or Scam?
EUFM is a proven scamming scheme, as the financial authorities have determined. They do not have a license and are not trustworthy.
Does EUFM Offer a Demo Account?
No, you cannot open a Demo account with EUFM. First, after opening an account, you have to deposit real money to use their services.
Can I Trade Crypto and CFDs With EUFM?
Yes, one of the tradable instruments offered at EUFM are also these asset groups.
Can I trade on a mobile device?
Since EUFM doesn’t have a proprietary app, you would have to use an internet browser on your mobile phone to log into the web trader.