EvoCapitals Review: 5 Red Flags To Stay Away From This Blatant Trading Scam
Another company in the line that doesn’t provide any security to its clients, EvoCapitals. Some might think, based on information provided on their website, that it’s legitimate. When you dig deeper you realize that everything is fake.
|Regulated by:||No regulation|
|Scammers Websites:||Evo-capitals.vip / evocapitals.com|
|Blacklisted as a Scam by:||N/A|
|Supported Platforms:||Web-based trader|
|Minimum Deposit:||250 EUR|
|Types of Assets:||Forex, Commodities, Indices, Shares, Cryptocurrencies, ETFs|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
Even the contact information is missing. There is no phone number where you can reach them. Even the address looks fake. That’s all we will cover in this Evo Capitals review and step-by-step analysis.
EvoCapitals Is Not a Legitimate Scam Broker?
It’s well known that if you don’t have control, you can do whatever you want. Until you get caught of course. All legitimate trading companies in the first place disclose their license.
EvoCapitals broker states that they are based in Singapore. The main and most important regulator there is MAS. By checking their database we didn’t find anything.
From Evo Capitals reviews we can only jump to a conclusion that this is nothing but a scam. Of course, the address of the company is some insanely big building. Nobody would think to search there, but there is a list of companies at that address. You already guessed that Evo Capitals is not there and you were right.
There is nothing we would exceptionally say it’s reliable with EvoCapitals. Shady ownership information and lack of contact and regulations info are not giving us any hope. Roulette sounds like a better option.
Arguments For Trading With a Licensed Broker
Not every license is a secure and good one. But it’s still better than having none. We always recommend it to people looking for Tier 1 Regulations. They bring you stability during trading and security in case the company disappears.
Such regulators are FCA, BaFin and ASIC. In their registers, we couldn’t find any records of EvoCapitals as well.
Therefore, you can already realize that your funds wouldn’t be safely invested here.
Analysis of Customer Reviews Related to EvoCapitals
First, before you make any decision about anything these days you check reviews. We checked the most reliable website of a kind, Trustpilot.
While we were writing this article, we found a total number of 30 reviews. More than 40 % of those were with a negative tone. People are just complaining about the company’s unprofessional approach and losing their money.
EvoCapitals Software – How Safe Is The Platform?
These platforms which Evo Capitals trading has are not reliable. That web-based trading software is often purchased from similar companies. The end goal is to lure people into believing that they are making money.
What is good think about their software is that you can check it without purchasing a package.
There are a lot of TA tools available that are making trading life easier. Besides that, they offer social trading which is not a common praxis amongst scammers.
What Financial Instruments Does The Platform Include?
The company offers a wide spectrum of assets, divided into different classes. Those are:
- Forex USD/JPY, USD/CHF, AUD/NZD
- Indices NIFTY50, DAX30, VIX
- Commodities Gold, Palladium, Wheat
- Shares Spotify, MasterCard, General Motors
- Cryptocurrencies BTC, XRP, NEO
- ETFs LIT, KBE, SPY
Besides these commercial trading assets, they offer cannabis companies stocks. Looks like that is another ace from the sleeves.
Areas Of EvoCapitals Scam
It’s not strange that companies like these are looking for rich people. They want to find whales in the ocean. That’s exactly why they are scamming traders from:
Everyone knows what the standards of these countries are. Therefore if you come from any of these, be extremely careful.
EvoCapitals List of Account Types
The company offers a wide range of account types. You can find your spot. Of course, if you want to throw money away.
EvoCapitals broker divided services into 6 account types:
- Student 250 EUR
- Standard 5.000 EUR
- Islamic 10.000 EUR
- Investor 100.000 EUR
- Evo Capitals VIP 500.000 EUR
- Evo Capitals VIP Platinum 1.000.000 EUR
They are not even ashamed to put these insane amounts as a minimum requirement. Apparently, you get more benefits with a higher account type.
Since we all know how non-regulated companies are operating, we would give it a miss.
EvoCapitals Withdrawal Policies
The company states that you can make only one withdrawal request per day. It’s important to understand that requesting a withdrawal doesn’t mean you will get the money. The company has a right to review a request and after that to either confirm it or decline it.
Another sketchy tactic is to decline a withdrawal request if there is no activity and the company has expenses for maintaining your trading account.
Last but not least, is the bonus clause. If you accept the agreement for the bonus, it is considered that you know that you are not able to make a withdrawal. Unless you reach certain profits on your account.
Have in mind that nothing is for free in trading!
EvoCapitals Terms and Conditions
If there is one thing sure it’s that they will give you any benefit just to put in more money. Leverages are not disclosed on account types. We checked on the platform and for some FX pairs, it’s 1:200, for stocks up to 1:20 and for crypto 1:5.
For example, with licensed companies, maximum leverage is up to 1:30.
Spreads range from 1 to 3 pips for different account types. Of course, that situation is different on the platform. Those are a bit higher than the ones advertised.
EvoCapitals Broker Scammed You? – Please Tell Us Your Story
It’s not rare that people get scammed by EvoCapitals. Their cheesy advertisements are luring clients in free money. That’s why we have this honest review, that you understand what you get yourself into.
Don’t worry. Not everything is lost. You can always file a chargeback if you were scammed by this company. Get back to us for assistance on the first step now!
What Is the Chargeback Procedure?
It is simply reversed transaction. If it’s reported as a scam, the bank has the right to transfer funds back to the account used for that activity.
We always suggest you not do it just by yourself. Book a free consultation with our experts today!
FAQ About EvoCapitals Brokers
What Is EvoCapitals?
It’s a non-licensed trading company operating allegedly from Singapore.
Is EvoCapitals a Scam Broker?
Considering all the facts, yes. There is no security provided for clients.
Is EvoCapitals Available in the United States or the UK?
They only provide services to US clients, from those mentioned.
Does EvoCapitals Offer a Demo Account?
No. But what goes in their favor is free access to their web trader.