Everest Markets Review: This Broker Cannot Be Trusted!

Everest Markets is an anonymous trading scam that offers unlicensed Forex and CFD trading services. From financial market regulators to trading forums, there is plenty of evidence against this platform.

Our Everest Markets Review is here to further explain why this broker cannot be trusted but also teach you how to detect trading scams and what to do if you lose money to such fraudsters.

Legal Info: Is Everest Markets Legit?

The fumbled legal documentation of this company says that this business is based in Zurich, Switzerland but operates under the governing law of Poland. However, the Polish KNF regulator issued a warning against Everest Markets, thus debunking the website’s false claims.

We also found out that the UK’s Financial Conduct Authority (FCA) also blacklisted this firm on March 26, 2014 (fca.org.uk). Yet, the website is still active so be careful.  

The Everest Markets platform is not licensed to offer services but does so regardless. Trading with unregulated brokers can be risky, which is why we recommend you avoid investing in uncertain platforms such as Everest Markets or JAFX.

Instead, find a provider that legally operates under the watchful eyes of top-tier regulators such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc. 

If you lost money to Everest Markets, we can help you recover it!

Who Are Everest Markets’s Clients?

According to godaddy.com/whois, the Everestmarkets.com website domain was created on December 8, 2008. Since then, the financial swindler has been offering illicit services mainly to traders in the following countries:

• United States;
• United Kingdom;
• Australia;
• India.

It is obvious that this company is targeting traders from major Anglo-Saxon financial hubs. To reiterate, the FCA clearly banned Everest Markets from operating in the UK. Do not ignore the warnings if you value your funds.

Trader Reviews – Sharing Experiences

If you need more proof that this company is a scam, simply read the countless complaints from unfortunate traders who had a bad experience with the shady broker. Even forexpeacearmy.com confirmed that Everest Markets is an unambiguous scam.

The website says that “based on all available evidence, the FPA [ForexPeaceArmy] has determined that Everest Markets is a scam and Max Fuller is a scammer.” You can read all the negative reviews on the same thread. Traders were frustrated because they experiences major withdrawal issues.  

Everest Markets Trading Platform

The company offers a rudimental web-based platform with basic charts and indicators. The online trading terminal is suitable for beginners but not for intermediate and advanced traders because it lacks cutting-edge tools.

This platform can be used to trade popular assets such as Forex currency pairs, CFDs, and cryptocurrencies. There is no mobile trading app though. It’s important to stress that web platforms, like the ones offered by Everest Markets and GfxRoyal, are susceptible to manipulation.  

Having withdrawal issues with Everest Markets? We can help you recover your funds.

Everest Markets Account Types

Everest Markets offers three live trading account types with varying trading conditions and benefits:

• Silver;
• Gold;
• VIP.

The maximum leverage is unknown. As for the trading costs, the spreads are unknown but Everest Markets charges a commission of 0.87% for each accepted position, claiming that it “can’t get any lower than that.”

The company also offers welcome bonuses, which is bad news because it directly violates the rules and regulations in force in Switzerland. Yes, bonuses are banned in Europe. 

Everest Markets Demo Account

This company does not offer a risk-free demo account. If you’re a beginner trader, you first want to try out the platform with virtual funds instead of risking real money.

Unfortunately, the company doesn’t allow you to do it, which is yet another reason why you should avoid this broker. Legit providers always include a demo account that can be used for a free trial period.

Everest Markets Withdrawal Process

Everest Markets’s website says that the company uses three payment methods for deposits and withdrawals:

• Credit/debit cards (MasterCard, VISA);
• Wire transfers;
• E-wallets.

The minimum deposit requirement is unknown. As for the deposit and withdrawal fees, Everest Markets did not disclose any useful information. Since some traders complained about not being able to withdraw funds, the broker not respecting the refund policy, etc., we will tell you a bit more about the chargeback procedure.

Funds deposited via MasterCard and VISA credit/debit cards can be refunded via a chargeback, which can be requested at the issuing bank within 540 days. Wire transfers can be reversed via a recall but this action can only work for transactions that are not yet complete.

Key Facts To Consider About Everest Markets

Everest Markets is an unlicensed scam broker claiming to operate out of Switzerland. The main targets of Everest Markets are traders from the United States, the United Kingdom, India, and Australia.

The platform is unregulated, non-transparent, blacklisted, and shady. Many traders had issues with Everest Markets, which is the main reason why we do not recommend you trade on this platform.

If you lost money to the Everest Markets Scam, please book your free consultation with our team and tell us more about your case. If you need professional assistance in recovering your funds, our team will gladly guide you through the chargeback process.

Book your consultation with us today and start the chargeback process.

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