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EGMARKETS -

Score

1.41 /10
Danger

EGMARKETS

United Kingdom

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://www.egmarkets.trade

Influence

D

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Comparison

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Website

Score

Regulatory Index0.00

Business Index6.22

Risk Management Index0.00

Software Index4.00

License Index0.00

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Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

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40G

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Warning: Low score, please stay away!
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

EGMARKETS · Company summary

Note: EGMARKETS's official website: https://www.egmarkets.trade/ is currently inaccessible normally.

EGMARKETS Review Summary
Founded2022
Registered Country/RegionUnited Kingdom
RegulationUnregulated
Market InstrumentsForex pairs, shares, indices, and commodities
Demo Account❌
Leverage1:400
EUR/USD Spread/
Trading PlatformWeb
Min Deposit$250
Customer SupportTel: +44 0908 290 8871
Email: support@eagleglobalmarkets.com
WhatsApp: 0908 290 8871
X: https://twitter.com/egmarkets
Linkedin: https://www.linkedin.com/company/eagle-global-markets-egm-/
Facebook: https://web.facebook.com/eagleglobalmarkets/?_rdc=1&_rdr
Instagram: https://www.instagram.com/egmarkets/
YouTube: https://www.youtube.com/channel/UCygWKOVLhXCZFg8KcLtw7kg
Physical address: United Kingdom, 34 South Molton Street, Mayfair, W1K 4RG

EGMARKETS claims to be a broker established in the UK, dedicated to serving the African market, particularly Nigeria. It primarily offers forex pairs, shares, indices, and commodities, with a minimum deposit of up to $250 and a maximum leverage of 1:400. However, this broker lacks legal oversight.

EGMARKETS

Pros and Cons

Pros Cons
Various trading choicesInaccessible website
MT4 supportNo regulation
Comprehensive customer support channelsExpelled by the Financial Commission
No demo accounts
No MT4/5
High minimum deposit

Is EGMARKETS Legit?

EGMARKETS holds no legal license. It claims to be registered in the United Kingdom, however, to operate or register in the UK, brokers need to be regulated by the Financial Conduct Authority (FCA). When we search for relevant information on the FCA, we find nothing, indicating that this broker is deceiving users.

Worse still, EGMARKETS also claims to be a member of the Financial Commission, but it has been proven that Egmarkets has been expelled.

These evidences are sufficient to show that EGMARKETS is an untrustworthy and fraudulent broker.

No results from the FCA
Expelled by the Financial Commission

What Can I Trade on EGMARKETS?

Since EGMARKETS's website is unavailable, the only information we can obtain about its tradable instruments is the general trading type, which includes forex pairs, shares, indices, and commodities.

Tradable Instruments Supported
Forex ✔
Commodities✔
Indices✔
Shares✔
Cryptocurrencies❌
Bonds❌
Options❌
ETFs❌

Leverage

EGMARKETS offers a leverage ratio of 1:400, which is extremely high. While there is a chance to obtain substantial profits, the possibility of losing all invested funds is much higher. In countries like the UK, the maximum leverage limit is 1:30. Therefore, the leverage offered by Egmarkets is not only dangerous but also illegal.

Trading Platform

EGMARKETS claims to offer industry-standard MetaTrader4 and two proprietary platforms, Eagletrade and Copytrade. However, since we are unable to access its website, we cannot confirm if these platforms actually exist.

In addition, we do not believe that a trading broker that has been expelled from the Financial Commission and is not legally regulated would be granted a trading license for MT4. Therefore, it is advisable to steer clear of this broker.

Trading PlatformSupported Available Devices Suitable for
MT4✔WebBeginners
MT5❌/Experienced traders
Eagletrade ✔Web/
Copytrade✔Web/

User Reviews

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User comment

2

Comments

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FX1452121266
more than one year
I would say that EGMarkets is a pretty decent trading platform. The trading experience is smooth and hassle-free, and I haven't come across any hidden fees or charges. The customer support team is also very helpful and always available to assist with any queries. Overall, I feel confident trading on this platform and would recommend it to other traders looking for a reliable and transparent trading experience.
I would say that EGMarkets is a pretty decent trading platform. The trading experience is smooth and hassle-free, and I haven't come across any hidden fees or charges. The customer support team is also very helpful and always available to assist with any queries. Overall, I feel confident trading on this platform and would recommend it to other traders looking for a reliable and transparent trading experience.
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2023-03-28 10:33
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厨郎
more than one year
I posted about Forex on social networks, and as a result, the company EGMARKETS started to harass me with private messages and recommended me to make a deposit. How annoying! I saw that this company does not have any regulatory license and I will never trade here.
I posted about Forex on social networks, and as a result, the company EGMARKETS started to harass me with private messages and recommended me to make a deposit. How annoying! I saw that this company does not have any regulatory license and I will never trade here.
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2023-03-03 18:18
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