If you’ve decided to check the EmexTrade website, you will see a nicely done job. Everything seems to be transparent. Also, the broker clearly lists the minimum deposit, leverage, and everything else you get.
However, there are still a few questions to answer. Is EmexTrade regulated, and by whom and who would be the owner of this entire operation?
Read our trusted EmexTrade review to find out.
- But firstly, you can increase your trading knowledge by reading our updated TradedWell, GXCM and InstaForex unbiased reviews.
|Broker Status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Broker|
|Operating Status:||Active Forex Trading Scam|
|Blacklisted as a Scam by:||N/A|
|Broker Owner:||Sequoia Group Ltd|
|Headquarters Country:||Commonwealth of Dominica|
|Online Trading Platforms:||MT5, WebTrader|
|Minimum Deposit:||250 EUR|
|Broker No Deposit Bonus:||Applied immediately|
|Crypto Assets:||BTC, ETH, XRP|
|Available Trading Assets:||Cryptos, Forex (FX), Commodities, Indices, Shares|
|Islamic Account:||Not Available|
|Free Demo Account:||No|
|Accepts US Clients:||US traders are not accepted|
|Global Fraud Protection Experts’ Verdict:||Don’t Invest in This Scam Broker!|
Is EmexTrade Safe and Regulated? – The Importance of Regulation
EmexTrade is owned by Sequoia Group Ltd from the Commonwealth of Dominica. This, combined with the address that several other scam brands such as PrimoTrade, EuroFX, and OptiMarkets are using, made us highly suspicious about the EmexTrade broker’s legitimacy.
What’s Wrong With the EmexTrade License?
After reviewing the FSU of Dominica and several Tier 1 regulators – FCA, ASIC, BaFin, we can conclude that EmexTrade regulation doesn’t exist in any of those. Basically, it means you’re opening an account with an unregulated offshore company and risking your funds.
EmexTrade Login Problems – One Of The Signs Of A Scam
As one of the sure scam signs, you can consider login issues. According to EmexTrade reviews, clients are experiencing these types of issues once they submit a withdrawal request. Let’s say you invested enough, made a profit, and want a payout. Once you ask your account manager for it, most chances are that your trading account will be blocked and it will manifest as login issues.
Of course, your account manager will blame it on the tech support, your internet connection, your browser, etc., but they will never tell you it’s because they don’t want you to get your money back.
If you experience something similar, let us know immediately.
EmexTrade Reviews – Is EmexTrade A Scam Broker?
Besides login issues, clients are reporting other problems with the EmexTrade forex broker as well. For example, according to several EmexTrade reviews, the broker gives a bonus immediately when you make an initial deposit, but nobody tells you it comes with specific terms.
Basically, you cannot withdraw your funds until you reach a particular rollover – for a minimum deposit, rollover is 5 lots. To reach such a rollover, you will need a lot of time or to invest more money.
In conclusion, beware of the EmexTrade trading scam!
EmexTrade Platform Review – Available Trading Software
Despite the fact that the broker is unregulated, we decided to check out the EmexTrade trading platform. Moreover, we found that the company is forcing a WebTrader while they are also offering an MT5.
Unfortunately, there’s no MT5 app, only a web terminal, yet it’s certainly better than a proprietary web trader and more secure.
However, if you wish to use your mobile phone for trading, the broker provides the MT5 app for Android and iOS. Since the broker is not legit, we would advise you to avoid it and find a company that offers MT4 or MT5 for all the devices.
What Can You Trade With an EmexTrade Broker?
More so, the broker offers trading with:
- Major currency pairs
- Gold, crude oil, and natural gas
- 4 biggest company stocks
- 2 EU indices
- 3 cryptocurrencies
Hopefully, this is not all the broker has to offer. Since there’s no Demo account, we cannot determine what exactly the company offers besides the assets listed on the website. And if the offer is really limited to this, the broker is worth less than any of your time or money.
EmexTrade Account Types – Trading Accounts
Additionally, broker offers 4 different account types:
The main difference is in the amount of money, welcome bonus, account management, and a necessary rollover. EmexTrade’s minimum deposit is 250 EUR for the Standard account, while the leverage is the same for all account types and stands at 1:200.
EmexTrade Demo Account
Unfortunately, EmexTrade doesn’t offer a Demo account, so we cannot verify the offer of the assets and more.
EmexTrade Withdrawal Issues – Traders Complaints
As you can conclude, broker withdrawal issues happen since the broker has no regulation or compensation fund. Therefore, it can afford to have complaints and avoid refunds. So, if you have similar problems, report them immediately.
We need to file a dispute and start a chargeback procedure. Global Fraud Protection recently received numerous complaints about the broker and we will be more than happy to assist you with this matter.
Scammed By EmexTrade Broker? – Talk To Our Experts Today!
Finally, if you were scammed by EmexTrade or a similar bogus brokerage, let us know. Our support department will assist you in booking your free consultation with a chargeback expert. Get back what is rightfully yours before it’s too late. Don’t be another victim of the EmexTrade scam, be the winner!
Don’t Let the Scammers Go Away for Free!
What Is EmexTrade, And Should I Invest Money In It?
Basically, this is an online trading brokerage from Dominica without financial regulation.
What is the EmexTrade Minimum Deposit?
Broker requires a minimum deposit of 250 EUR for the Standard account.
What Products Does EmexTrade Offer?
Company offers trading with currency pairs, commodities, indices, shares, and cryptocurrencies.
Are My Funds Safe With EmexTrade?
Since this trading company is not regulated, your funds are not safe with this brokerage.