EG Markets

EG Markets | 2024-11-19 16:06

Extrait：EG Markets is an unregulated financial services provider. It claims to provide different types of traders with account options like STP, ECN, and Elite, each requiring varying minimum deposits and offering different trading conditions such as spreads and leverage. EG Markets reportedly supports deposits and withdrawals through cryptocurrencies like Tether and Bitcoin, along with traditional wire transfers. However, there are many problems including unregulated status, inaccessible websites and so on.

Note: EG Markets' official website: https://www.egmarketslimited.com/ is currently inaccessible normally.

EG Markets Review Summary
Founded	/
Registered Country/Region	Australia
Regulation	Unregulated
Market Instruments	/
Demo Account	❌
Leverage	Up to 1:400
Spread	From 1.6 pips (STP account)
Trading Platform	MT4 (Fake)
Min Deposit	$1,000
Customer Support	Email: info@egmarketslimited.com
Customer Support	Address: 8 Phillip Street, Sydney, New South Wales, Australia

EG Markets is an unregulated financial services provider. It claims to provide different types of traders with account options like STP, ECN, and Elite, each requiring varying minimum deposits and offering different trading conditions such as spreads and leverage. EG Markets reportedly supports deposits and withdrawals through cryptocurrencies like Tether and Bitcoin, along with traditional wire transfers. However, there are many problems including unregulated status, inaccessible websites and so on.

Pros and Cons

Pros	Cons
Multiple account types	Unlicensed, offshore CFD provider
	Limited contact channels
	Website functionality issues
	No MT4/5
	High minimum deposit
	Limited payment options

Is EG Markets Legit?

Despite its claims regarding its regulation, the Securities and Exchange Commission of Mauritius (SMC) maintains a list of licensed brokers. Therefore, EG Markets is currently unregulated. Regulated financial service providers operate according to established standards and meet specific rules designed to safeguard investors and clients.

Account Type

EG Markets offers three kinds of live accounts.

Account Type	Min Deposit
STP	$1,000
ECN	$5,000
Elite	$30,000

Their minimum deposit requirement is much higher than regulated and safe brokers (most of them require $100 or less).

Besides, there are no demo options,so you cannot access the trading platform of EG Markets Limited before submitting a wealth of personal data.

Leverage

EG Markets offers high maximum leverage of up to 1:400, which, while lucrative for experienced traders, also carries significant risk.

Spread

In terms of spreads,the STPaccount starts from 1.6 pips, which is average compared to other brokers.

The ECN account offers spreads from 0.6 pips.

The Elite account boasts the lowest spreads, starting from 0.1 pips,yet the high minimum deposit of $30,000 limits accessibility to only institutional or high-net-worth traders.

Account Type	Spread
STP	From 1.6 pips
ECN	From 0.6 pips
Elite	From 0.1 pips

Trading Platform

EG Markets Limited stated that its clients would have access to MetaTrader 4, one of the most widely-used trading platforms globally. However, this was another false claim. The download link provided by the broker did not lead to MT4 but instead to another platform, the publisher of which was unverified.