EuroTrades Review – New Form, Same Old Financial Scheme
EuroTrades broker has been with us for quite a while, but it’s changing its form. While it used to be an offshore broker owned by Trade Up Ltd, along with SimpleTrades and Trades.com, this company currently goes on its own. Is it because the Italian regulator issued a warning against Trade Up Ltd or because this firm is actually trying to be legitimate?
Read our EuroTrades review to find out.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||FSMA|
|Types of Assets:||FX, commodities, indices, shares|
|Free Demo Account:||No|
|Accepts US clients:||US traders are not accepted|
Is EuroTrades Regulated? – Important Things to Know
As mentioned, the broker EuroTrades was owned by Trade Up Ltd from the Marshall Islands. The company had no license whatsoever and didn’t follow any rules, resulting in the regulatory warnings.
Currently, the EuroTrades Forex broker is on its own, stating that the owner is Eurotrades.com, but not providing us with any details related to the company.
What’s Wrong With A Trading License?
Since looking for the EuroTrades regulation gave no results, we can conclude that nothing has changed. If the firm is still unregulated, your funds are still at risk.
Regulatory Warning Against EuroTrades Fraud
Despite splitting with Trade Up Ltd, EuroTrades’ complaints didn’t stop. That’s how we got an official warning from the Belgian regulator, FSMA.
Official Warning Issued by FSMA – Evidence of Fraud
FSMA announced that eurotrades.com is an unregulated domain that operates without a license conducting scheme. Beware.
Where Is EuroTrades Trading Scam Active?
EuroTrades trading scam mainly affects:
Note that this firm can target anyone as an illegal broker, and don’t give your money to fraudsters.
EuroTrades Platform Review – Available Trading Software
While we may praise the EuroTrades trading platform as the only good thing, even this aspect is not as perfect. The company provides MT4, but trading terms are far from ideal.
EuroTrades MetaTrader 4
As we all know, MT4 is the best platform out there, and with the MT5 makes a perfect duo. But if you have an illicit broker that offers you leverage up to 1:400, the platform doesn’t matter. Regulators across the globe limit leverage for the Forex market to 1:30 or 1:50, while other assets are at an even lower limit. Yet, it seems that EuroTrades just doesn’t care and does whatever. Also, the spread is undisclosed and there’s no Demo account.
Mobile Trading App for Apple and Android
As with any MT4, EuroTrades login is enabled via mobile too. Both Android and iOS users can access their accounts quickly. Yet, with the same unregulated conditions.
EuroTrades Trading Instruments – What Can I Trade?
EuroTrades makes quite a fuss when it comes to trading instruments. They say they provide CFDs, and then they list all the CFDs underneath as separate assets. However, from our understanding, clients can trade with:
- Currency pairs
Trading Accounts – Demo & VIP Accounts
There are 4 EuroTrades account types, including:
- Micro – $1
- Classic – $1,000
- Eurotrades Premium – $5,000
- VIP – $30,000
Accounts differ in leverage, withdrawal charges, and the account manager’s seniority level.
Demo Account – Trial Account
While we would like to check out everything stated on the website, the EuroTrades Demo account doesn’t exist, and we are unwilling to deposit money with a scam firm.
EuroTrades Deposit Methods – How To Deposit?
EuroTrades’ minimum deposit is only $1, but realistically, you cannot make any profits from that. This is why you will be constantly pressured to invest more. The company allows depositing only via credit/debit card and cryptocurrencies, indicating that something is not good. You cannot trade crypto, but the company can make money from you depositing it into their wallet.
If you really want to check out EuroTrades broker, do it via credit card; you will have up to 540 days to request a chargeback.
Scammed By EuroTrades Broker? – Talk To Our Recovery Experts
If you fall victim to the EuroTrades scam, it’s time to contact our specialists. We’re here to hear you out and help you file a dispute for a chargeback.
Contact us via online chat to book a FREE consultation, and let’s get your money back from scammers right away!
Can I Trade Cryptocurrencies And CFDs With EuroTrades Broker?
You can trade CFDs, but cryptocurrencies are not an option with EuroTrades.
Does EuroTrades Have a Mobile Trading App?
Yes, EuroTrades has an MT4 mobile trading app for Android and iOS.
Are My Funds Safe With EuroTrades?
The broker has been blacklisted in Belgium for fraudulent activity, meaning your funds are not safe with such.