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Evotrade

United Kingdom|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://evotrade.com/

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Contact

+442045772489
support@evotrade.com
https://evotrade.com/
TechWare Limited Gateway 8, Rue de la Perle, Providence, Mahe, Seychelles

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No valid regulatory information, please be aware of the risk!

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Broker Information

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Company Name

Evotrade

Company Abbreviation

Evotrade

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-04-21
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

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Evotrade · Company Summary

Aspect Information
Registered Country/Area United Kingdom
Founded Year 2-5 years
Company Name Evotrade
Regulation No Regulation
Minimum Deposit $250
Maximum Leverage Up to 1:200
Spreads Starting at 0.6 pips
Trading Platforms MetaTrader 5, Mobile Trading, Webtrader
Tradable Assets Forex, Cryptocurrencies, Precious Metals, Energy Carriers, Stocks
Account Types Micro, Bronze, Silver, Gold, Platinum, Diamond-VIP
Demo Account Not specified
Islamic Account Not specified
Customer Support Email: support@evotrade.com, Phone: +44 (204) 577-24-89
Deposit Methods Debit/Credit Cards, Bank Wire Transfers, E-Payments
Withdrawal Methods Debit/Credit Cards, Bank Wire Transfers, E-Payments

General Information

Since its founding in 2010, Evotrade is a brokerage firm that offers trading services in a wide range of market instruments, including forex, cryptocurrencies, precious metals, energy carriers, and stocks. They provide multiple trading account types to cater to different traders' needs, along with leverage of up to 1:200. The broker offers access to the popular MetaTrader 5 platform, which offers advanced trading tools and features.

However, it's important to note that Evotrade is not regulated by any recognized financial regulatory authority. This lack of regulation raises concerns regarding the transparency, security, and fair treatment of clients' funds. Regulated brokers are subject to specific rules and guidelines designed to protect investors and maintain the integrity of the financial markets.

Additionally, Evotrade's withdrawal policy imposes fees for withdrawals and an extra charge if the trader has not completed a minimum number of trades. These factors, combined with the absence of valid regulation, should be carefully considered by potential traders.

It's crucial to conduct thorough research, evaluate the risks involved, and consider alternative brokers that are properly regulated and overseen by reputable authorities before deciding to engage in trading activities with Evotrade.

Pros and Cons

Evotrade is a brokerage firm that offers trading services in various market instruments, including forex, cryptocurrencies, precious metals, energy carriers, and stocks. While the broker provides multiple trading account types and leverage of up to 1:200, there are significant concerns regarding its legitimacy due to the lack of regulation by recognized financial authorities. The absence of valid regulation raises potential risks for traders, including the possibility of fraudulent activities and inadequate client protection. Additionally, Evotrade's withdrawal policy imposes fees on withdrawals and an extra charge if the trader has not completed a minimum number of trades. These factors, combined with the withdrawal fees and the requirement of a minimum deposit of $250, should be carefully considered before choosing to trade with Evotrade.

Pros and Cons

Pros Cons
Offers various market instruments Not regulated by recognized financial authorities
Multiple trading account types Withdrawal fees and additional charges for insufficient trading volume
Leverage of up to 1:200 Lack of transparency and potential risks due to absence of regulation
Access to the MetaTrader 5 platform Limited information on maximum leverage, minimum position sizes, supported products, and fees
Customer support services available Withdrawal policy may impact the final amount received by the trader

Is Evotrade Legit?

Evotrade is not regulated by any recognized financial regulatory authority. The broker claims to be regulated by FMRRC (Financial Market Relations Regulation Center) with the license number TSFRF RU 0395 AA V0172. However, it's important to note that FMRRC regulation may not hold the same level of credibility and oversight as regulatory bodies like the Financial Conduct Authority (FCA), the Securities and Exchange Commission (SEC), or similar reputable organizations.

The lack of valid regulation should be a significant concern for potential traders. Regulation plays a crucial role in ensuring the transparency, security, and fair treatment of clients' funds. Regulated brokers are subject to specific rules and guidelines designed to protect investors and maintain the integrity of the financial markets. Without proper regulation, there is a higher risk of fraudulent activities, mismanagement of funds, and inadequate client protection.

Given the warning and the absence of valid regulatory information, it is strongly advised to exercise caution and consider alternative brokers that are properly regulated and overseen by reputable authorities.

regulation

Market Instruments

Evotrade offers a range of market instruments for trading, including:

  • Forex: Evotrade provides access to the foreign exchange market, allowing traders to trade currency pairs and speculate on the exchange rate movements of major and minor currency pairs.

  • Cryptocurrencies: Traders can participate in the cryptocurrency market through Evotrade. Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others may be available for trading.

  • Precious Metals: Evotrade allows trading of precious metals like gold, silver, platinum, and palladium. Traders can take positions on the price movements of these valuable commodities.

  • Energy Carriers: The broker offers trading opportunities in energy carriers, which may include commodities such as oil, natural gas, and other energy-related products. Traders can speculate on the price fluctuations in these markets.

  • Stocks: Evotrade provides access to stocks, enabling traders to invest in shares of publicly listed companies. This allows traders to take positions on the price movements of individual stocks and potentially benefit from their performance.

Pros Cons
1. Access to a diverse range of markets 1. Lack of specific details about supported products
2. Opportunity to trade forex 2. Limited information on commission fees
3. Participation in the crypto market 3. Possible limitations on available cryptocurrencies
4. Trading precious metals
5. Opportunities in energy carriers
6. Access to stock trading

Account Types

Evotrade offers multiple trading account types to cater to different traders' needs. Here is an overview of the account types and their features:

  • Micro Account: The Micro account requires a minimum initial deposit of $250. It offers spreads starting at 0.6 pips. Traders can also receive a trading bonus of up to 30%.

  • Bronze Account: The Bronze account requires a minimum initial deposit of $1,000. It offers spreads starting at 0.6 pips and a trading bonus of up to 30%.

  • Silver Account: The Silver account requires a minimum initial deposit of $5,000. It provides spreads starting at 0.6 pips and a trading bonus of up to 50%.

  • Gold Account: The Gold account requires a minimum initial deposit of $10,000. It offers spreads starting at 0.6 pips and a trading bonus of up to 80%.

  • Platinum Account: The Platinum account requires a minimum initial deposit of $25,000. It provides spreads starting at 0.6 pips. Traders can receive a trading bonus of up to 80% and a deferred bonus of up to 50% per month.

  • Diamond-VIP Account: The Diamond-VIP account is the highest-tier account, requiring a minimum initial deposit of $100,000. It offers spreads starting at 0.6 pips. Traders can receive a trading bonus of up to 100% and a deferred bonus of up to 50% per 3 months.

The specific details about maximum leverage, minimum position sizes, supported products, and commission are not provided in the information provided.

Pros Cons
Offers multiple account options Lack of specific details on leverage and commissions
Allows customization based on trader needs Limited information on minimum position sizes
Provides trading bonuses Potential for higher minimum initial deposits
Offers deferred bonuses for select accounts Withdrawal restrictions based on trade volume

Leverage

Evotrade offers leverage of up to 1:200 according to their trading platform. Leverage allows traders to control larger positions in the market with a smaller amount of capital. With a leverage of 1:200, traders can potentially magnify their trading positions up to 200 times the amount of their initial investment. However, it's important to note that while leverage can amplify potential profits, it also increases the risk of losses. Traders should exercise caution and have a thorough understanding of leverage and its implications before utilizing it in their trading activities.

Deposit & Withdrawal

Evotrade's deposit and withdrawal process involves several considerations. To open an account, the minimum deposit requirement is $250. This amount serves as the initial funding for trading activities. It's important to note that Evotrade charges withdrawal fees for different methods. For wire transfers, there is a fee of $50, while credit or debit card withdrawals incur a $25 fee along with a $10 service charge. E-Payments are subject to a withdrawal fee of $25.

One aspect that traders need to be aware of is Evotrade's withdrawal policy. If a trader has not completed a minimum of 200 trades, an additional 10% charge will be imposed on their withdrawal amount. This means that if the trade volume requirement is not met, the trader will face a deduction of 10% from the requested withdrawal. These fees and charges associated with withdrawals can have an impact on the final amount received by the trader.

It's essential for potential clients to carefully consider the deposit and withdrawal terms before engaging with Evotrade. Evaluating these factors helps individuals make informed decisions about their trading activities and the associated costs.

Pros Cons
Offers multiple withdrawal methods Withdrawal fees: $50 for wire transfers, $25 (+$10 service charge) for credit/debit card withdrawals, $25 for E-Payments
Allows traders to fund their accounts and start trading Additional 10% charge on withdrawal amount if minimum trade volume of 200 trades is not met
Minimum deposit requirement of $250

Trading Platform

Evotrade offers multiple trading platforms for its clients:

  • MetaTrader 5 (MT5): Evotrade provides access to the widely used MetaTrader 5 platform. MT5 offers advanced trading tools, a user-friendly interface, and a wide range of features. It supports trading across various asset classes, including forex, cryptocurrencies, precious metals, energy carriers, and stocks.

  • Mobile Trading: Evotrade offers a mobile trading platform, allowing traders to access their accounts and trade on the go. The mobile platform is compatible with smartphones and tablets, providing convenience and flexibility for traders who prefer trading on mobile devices.

  • Webtrader: Evotrade also provides a web-based trading platform that allows traders to access their accounts and trade directly through a web browser. This platform eliminates the need for software downloads and provides access to the markets from any computer with an internet connection.

These trading platforms offer a range of tools, charts, and indicators to assist traders in conducting technical analysis and executing trades. Traders can monitor market prices, place orders, manage their positions, and access account information through these platforms.

trading-platform

Pros and Cons

Pros Cons
MetaTrader 5 (MT5) provides advanced trading tools Lack of information regarding additional platform features and capabilities
User-friendly interface Limited information on compatibility with third-party plugins and expert advisors
Wide range of features and technical indicators Limited customization options for the platform
Access to various asset classes Limited information on platform stability and uptime
Mobile trading platform for on-the-go trading Limited information on order execution speed and reliability
Web-based platform eliminates software downloads Limited information on available charting tools and technical analysis capabilities

Broker News

As Proof For The Evotrade Trading Robot Case, Luxurious Vehicles To Hundreds Of Billion Accounts

The police's Criminal Investigation Unit (Bareskrim) has started seizing the suspects' assets in the case involving fraudulent investments made using the Evotrade trading robot mode. So far, proof has ranged from a number of high-end autos to accounts holding hundreds of billions.

“One Lexus L 570 automobile, one BMW M5 car with Vehicle Ownership License (BPKB), one BMW Z4 car also with BPKB, one Mini Cooper, one Harley Davidson motorcycle, and one motorcycle are among the assets that have so far been seized in this case. flimavera vespa, ”Brigadier General Ahmad Ramadhan, Karo Penmas, Police Public Relations Division, spoke to media on March 24.

Investigators have also banned and seized the suspects' accounts in the case that has produced six suspects. These accounts have a notional value of 250 billion IDR.

Investigators also found cash in the form of rupiah and Singapore dollars. The quantity exceeds a thousand pieces.

According to Ramadhan, there were 1.150 pieces of 1000 Singapore dollar notes and 1.000 pieces of 100 000 rupiah denominations among the cash.

Not to mention, there are properties in the East Java region of Malang included in the list of confiscated assets. According to estimates, the nominal worth is in the billions.

Ramadhan said, One plot of land and a building at the Green Tombro Residence, Malang, East Java.

For information's sake, the Police Criminal Investigation Unit has identified six suspects in the Evotrade trading robot investment fraud case. The letters after their names are AD, AMA, AK, D, DES, and MS.

Conclusion:

In conclusion, Evotrade offers a range of trading instruments, multiple account types, and leverage options to cater to different traders' needs. However, there are notable disadvantages that must be considered. The lack of regulation by recognized financial authorities raises concerns about the legitimacy and security of the broker. Additionally, the withdrawal policy includes fees and an additional charge for insufficient trading volume, which can impact the amount received by traders. It is crucial for potential clients to carefully evaluate these disadvantages alongside the advantages before deciding to engage with Evotrade.

FAQs

Q: Is Evotrade regulated?

A: Evotrade is not regulated by any recognized financial regulatory authority. The broker claims to be regulated by FMRRC, but this regulation may not hold the same level of credibility as reputable regulatory bodies.

Q: What market instruments can I trade with Evotrade?

A: Evotrade offers trading opportunities in forex, cryptocurrencies, precious metals, energy carriers, and stocks.

Q: What are the account types offered by Evotrade?

A: Evotrade provides various trading account types, including Micro, Bronze, Silver, Gold, Platinum, and Diamond-VIP accounts. Each account type has different minimum deposit requirements and trading bonuses.

Q: What is the leverage offered by Evotrade?

A: Evotrade offers leverage of up to 1:200, allowing traders to control larger positions with a smaller amount of capital.

Q: What are the fees associated with deposits and withdrawals at Evotrade?

A: Evotrade charges withdrawal fees depending on the withdrawal method. Wire transfers have a $50 fee, credit or debit card withdrawals have a $25 fee plus a $10 service charge, and e-payment withdrawals have a $25 fee.

Q: What are the available trading platforms at Evotrade?

A: Evotrade offers the MetaTrader 5 (MT5) platform, a mobile trading platform, and a web-based platform (Webtrader) for traders to access the markets and execute trades.

Q: What payment methods does Evotrade accept?

A: Evotrade accepts debit and credit cards (Visa, Mastercard, Maestro, Visa Electron), bank wire transfers, and e-payment methods (Payeer, WebMoney, QIWI) for deposits and withdrawals.

Q: How can I contact Evotrade's customer support?

A: You can contact Evotrade's customer support via email at support@evotrade.com or by phone at +44 (204) 577-24-89.

News

WIKIFX REPORT: Bareskrim Delegates 5 Suspects Of Evotrade Trading Robot To The Prosecutor's Office

NewsWIKIFX REPORT: Bareskrim Delegates 5 Suspects Of Evotrade Trading Robot To The Prosecutor's Office

2022-08-23 14:49

Investigators from the Criminal Investigation Unit of the National Police have transferred the files of five suspects and evidence in the Evotrade trading robot case to the Malang City District Attorney's Office. The delegation is carried out after the case file is declared complete by the research prosecutor.

WikiFX
2022-08-23 14:49
News
WIKIFX REPORT: Bareskrim Delegates 5 Suspects Of Evotrade Trading Robot To The Prosecutor's Office
WIKIFX REPORT: The Evotrade Broker And It’s Facilities In Trading

NewsWIKIFX REPORT: The Evotrade Broker And It’s Facilities In Trading

2022-06-28 16:18

A extremely complex financial instrument is forex trading. It inolves huge lot of trading operations with multiple currencies, spreads and time frames, which can be rather tough to understand.

WikiFX
2022-06-28 16:18
News
WIKIFX REPORT: The Evotrade Broker And It’s Facilities In Trading
Malaysia's Deputy Finance Minister: Crypto Not Suitable as Means of Payment or Store of Value

NewsMalaysia's Deputy Finance Minister: Crypto Not Suitable as Means of Payment or Store of Value

2022-03-28 17:16

Malaysia’s deputy finance minister says that cryptocurrencies, such as bitcoin and ethereum, are not suitable as a means of payment or a store of value. While digital assets are not recognized as legal tender in Malaysia, the finance ministry official said that they are an asset class that can be invested in.

WikiFX
2022-03-28 17:16
News
Malaysia's Deputy Finance Minister: Crypto Not Suitable as Means of Payment or Store of Value
Leumi Bank in Israel to Start Accepting Bitcoin and Ether, In first for Israeli banking, Leumi to en

NewsLeumi Bank in Israel to Start Accepting Bitcoin and Ether, In first for Israeli banking, Leumi to en

2022-03-28 16:52

Bank Leumi (LUMI.TA) will become the first Israeli bank to enable cryptocurrency trading, its digital platform Pepper Invest said on Thursday after partnering with U.S. blockchain firm Paxos.

WikiFX
2022-03-28 16:52
News
Leumi Bank in Israel to Start Accepting Bitcoin and Ether, In first for Israeli banking, Leumi to en

User Reviews

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FX1614032701
more than one year
Their trading platform is just a hot mess, honestly. Not a single risk management tool in sight - and that's like stepping out on a high wire without a safety net! And don't even get me started on the tech glitches - they pop up more often than ads on a free app. The icing on the cake? I've never snagged a good price on any of the forex currencies I've traded. I mean, I was trying to trade EUR/USD and the price jumped without warning amid my trade execution, way away from the decent price I was eyeing.
2024-02-06 18:21
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Wong Jia Hao
more than one year
I was unwilling to open an account here, but an agent on this broker convinced me that much profits can be reached. So, I traded with this broker through a Micro account of $250. Disappointingly, trading environment was extremely terrible, with spreads on eur/usd reaching up to more than 30 pips sometimes. Don’t recommend this broker.
2023-03-20 16:59
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一条鱼
more than one year
I was a fool that I invest in Evotrade. They kept calling me to make more deposits, and then I found something wrong and refused their advice. Luckily is that I only open a Micro account here, so I only lost 250 dollars. Of course, I learned a lesson from this broker.
2023-03-08 17:45
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