EverMarketsefex Review – Business Practice Based On Dishonest Behavior
Don’t believe the many alleged sports sponsorship deals, it’s all part of the deception. We’re dealing with a full blown forex scam that tries to impersonate a fully licensed company from Hong Kong.
Our EverMarketsfex review will give you ample reason to avoid this firm, and offer helpful insight into the process of fund recovery.
|Regulated by:||Unregulated Broker|
|Is This Company Safe?||Absence of licenses means no security insurance!|
|Have Warnings from:||N/A|
|Registered in:||China (alleged)|
|Trading Platforms:||MT4, MT5, Alpari|
|Deposit Bonus:||Not available|
|Trading Assets:||Forex, Cryptocurrencies, Metals, Energies|
|Free Demo Account:||Not available|
|How to Withdraw from This Company?||Without our legal help, it’s highly questionable if you’ll get your cash at all!|
Unproven Connection To Legit Firms
The brokerage website claims to be operated by Ever-long Capital Management Ltd, properly regulated by the Hong Kong financial authority – SFC. This branch that provides financial services is owned by Styland Holdings, better known as the Styland Group.
The problem is that there’s no genuine association between evermarketsefex.com and the mentioned companies. Nowhere do these companies state that they run this particular domain. Only the trading website makes such statements.
This and the fact that the site is only available in Spanish made us wonder if there’s any truth in these claims at all. Since there’s no more proof except for the broker’s words, we can assume that the fraud picked the name of a legal entity to claim connection to in order to appear more credible.
Fraudulent Scheme At Work
The evermarketsefex.com website was launched in September 2023, as you may see in the WhoIs register. The fraud mostly targets the people from these nations:
The greater part of the scheme is done by boiler room agents, in a scenario similar to the FXPremium scam. You won’t hear anything but vague promises from these persuasion experts, as they snicker their way into your wallet.
It starts with a small sum at first, but their voracious appetites won’t be sated until they bleed you dry. Recovering the lost funds is possible, but only with professional help.
Paid Reviews Deceive Investors
To help with the fakery, this faux forex service utilizes the same strategy as the Bitlerz con – they pay review seller networks to post misleading content on online rating platforms.
Although the TrustPilot site is currently packed to the brim with bogus comments. The ones that are critical of the company’s service are starting to pile up as of late.
How Trading Terms Are Calculated
Unregulated brokers can allow some trading parameters to reach values that strict regulatory authorities would never allow. For instance, this trading portal allows the maximum leverage of 1:3000.
Aside from the fact that you can extremely quickly be left empty handed, you’ll also be charged with higher fees. While the industry average spreads start at less than 1 pips on EUR/USD, standard spreads on this platform are 2 pips on Forex majors.
Promotions And Cashback Programme
Although there’s currently no ongoing promotions at the time of writing this review, the company claims to occasionally offer them. Apart from that, there’s also a discount program as a part of the loyalty campaign.
All users participating can be awarded with bonus points (ALPs) that they can cash in later. Also there’s discounts and refunds for funding fees, exchange rate and swap redemption.
Attractive But Not Entirely Honest Features
As a part of their deceptive strategy, the firm offers most popular technological solutions in terms of trading software. However, that still doesn’t change the fact that the website isn’t as honest and transparent as you’d expect them to be. Especially when it comes to account types and assets available.
Best Software Combo Misused
Sadly, the most prestigious trading software today serves as just another bait for enthusiastic investors. There’s no doubt that MT4 and MT5 rule the online trading market on all levels thanks to their functionality, reliability and speed. However, in the hands of another unlicensed and therefore untrustworthy Forex dealer, their original purpose is defeated.
Alpari Mobile Variations
This particular app is another addition to the attractive software offer. There’s a trio of these mobile apps- Alpari Mobile, Alpari Invest and Alpari Fix-Contracts. Each add-on serves a particular purpose, such as quick deposits, fund- management and trading. These apps can be downloaded from Google Play but the Apple Store links are broken for whatever reason.
Missing Trading Instruments
No full disclosure of trading assets is ever given on the website. While there’s numerous mentions of Forex trading all over the site, we could barely find any information about individual instruments.
Here’s the full list of advertised instruments:
- Forex (EUR/USD, AUD/USD, EUR/JPY)
- Cryptocurrencies (BTC/USD, DASH/USD)
- Metals (Gold, Silver)
- Energies (Brent)
Any seasoned trader will tell you that investing is literally impossible without clear and precise market information. Reputable brokers will always provide complete datasheets on trading instruments, including the average spreads, commission, and other crucial data.
Poorly Marketed Accounts
The transparency problems don’t just revolve around the company’s legal background. For some reason, getting the thorough information on the available packages and their prices is made extremely difficult. The website only mentions these account types:
- Nano – $250
- PAMM – $50
Additional information is given in the legal docs section, but not even there is it clarified how much other bundles cost. Only the basic trading parameters we’ve already explained are available there and they differ from the ones posted on the site!
Dictionary As Education Material
The high-quality education advertised on the platform is anything but. Instead of the claimed expert classes, what you get is an English to Spanish dictionary!
There, we can see the terms most commonly used in financial parlance poorly explained in some shallow articles. Indeed, a wikipedia page will give you more information on the subject.
Withdrawal of Funds
As any other fraudulent trading portal we’ve reviewed before, this one also omits crucial information about payouts. What’s more, there’s no separate legal paper that provides any additional data on the processing time or fees.
The web presentation that deals in deposits only clarifies what methods are used for depositing and their fees range from 0% to 6.6%. However, we can’t tell if any of these conditions and payment channels are also available for withdrawing cash.
Support Doesn’t Care About Clients
Direct channels for contacting the EverMarketsefex support do not exist. There’s a single email and a phone number, but no one guarantees you’ll ever get a response. After all, each of these illicit entities is only pushy and available to contact until they get you to deposit.
Got Defrauded? Get Expert Help Here!
The evermarketsefex.com website purposely makes any navigation difficult in order to obfuscate much of the crucial information. We have done our diligence to reveal the truth about EverMarketsfex scam.
There’s literally no pros to dealing with this faux broker, but plenty of downsides exist. The crucial ones are the lack of regulation and EverMarketsfex withdrawal. If you’ve invested with this firm, it would be prudent to start a chargeback as soon as possible. You may contact our legal team at any time through the live chat.
What is EverMarketsefex?
It is an unscrupulous project trying to appear legitimate through false association with regulated firms.
Where Does EverMarketsefex Operate?
The firm claims to be located in Hong Kong and is most active in Spain, Germany and Bulgaria.
Can I Recover Money I Lost With a Scam Broker?
Yes! If you contact our legal experts promptly, you can get advice and information on how to get your lost investment back.