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The WikiFX Score of this broker is reduced because of too many complaints!

Etrans

Australia|10-15 years|
Regulated in Australia|Market Making(MM)|Suspicious Scope of Business|New Zealand Financial Service Corporate Revoked|Suspicious Overrun|Medium potential risk|

http://www.etrans.com.au/en/

Website

Rating Index

Contact

+61 415 999 192
melbourne@etrans.com.au
http://www.etrans.com.au/en/
Level 8, 2 Queen St, Melbourne VIC 3000, Australia
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

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

Single Core

1G

40G

Open Now

Contact number

English

+61 415 999 192

English

+1 604 685 8255

Broker Information

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Company Name

E-TRANS Group Pty. Ltd.

Company Abbreviation

Etrans

Platform registered country and region

Australia

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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WikiFX Risk Alerts 4
Previous Detection : 2024-02-22
  • New ZealandFSPR (license number: 34363) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • This broker exceeds the business scope regulated by New Zealand FSPR(license number: 34363)Financial Service Providers Register Non-Forex License. Please be aware of the risk!

WikiFX Verification

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Pyramid scheme complaint
Expose
Unable to withdraw

The platform withdrawal is abnormal. Their requirements have been completed and there is also a platform statement, but the platform is still unable to withdraw funds within the statement period

I began to use the platform on 10/15 and submitted A VIP application to the platform on 10/30. After the application was approved, the platform informed that it needed 3,000 US dollars as a guarantee fee. I provides USD 3000 membership fee deposit for Etong platform on 11/04 and the platform informed that the account could not be transferred out, and it was necessary to pay 5,000 US dollars to report to the supervisory unit to apply for risk release. After paying 5,000 US dollars on 11/05, I apply for a withdrawal of 1,877 US dollars, but the platform still could not pay the withdrawal of 1877 US dollars on 11/06 and it responded that there was a problem with the company’s account and it was temporarily unable to withdraw. It replied that the account problem might needs to be withdrawn. The platform executives privately decided to let the bank lend money and directly withdraw $12,000 from the deposit account. The bank accountant denied my request of withdrawal due to uncooperative account and request $8000 margin fees. After the $8000 margin fee arrived, I withdrawn $21877 to my designated financial account within 24 hours. I completed the payment of $8000 on 11/08, but the platform informed that the withdrawal was rejected by the bank on 11/10. The bank asked the platform and myself to pay a margin fee of US$8,000 before unfreezing the platform account. On 11/11, I negotiated with the platform if the US$8,000 margin fee was paid to the platform and there is subsequent bank account problems, the platform and bank should handle it by themselves. The $29,877 that at the bank today should be refunded to my designated account within 24 hours after payment with platform statement. After the payment on 11/15, it still unable to withdraw and not even response until 11/17.

HUI80489
2021-11-18 18:23

Etrans · Company Summary

Registered Country/Region Australia
Regulation ASIC
Company Name E-TRANS Group Pty. Ltd.
Founding Time 2000
Registered Company Address Level 5, 350 Collins Street, Melbourne, VIC, Australia, Victoria
Products & Services Inernational Transfer & Foreign Exchange
Trading Platform Properietary platform
Payment Methods Internet banking, mobile banking, local bank
Customer Support Phone & Email support

General Information & Regulation

Etrans Group has been in business for more than 20 years and is a multinational company specializing in providing currency exchange and remittance services, with offices in Melbourne, Sydney, Vancouver, and services covering Australia and Canada. Etrans currency exchange is authorized and regulated by ASIC in Australia (regulation number: 439303).

Products & Services

Etrans currency exchange provides individual and corporate customers with international exchange, safe and fast remittance to various global currencies, including USD remittance, GBP remittance, HKD remittance, JPY remittance, etc. Besides, Etrans' Melbourne, Sydney, and ETX Vancouver locations worldwide are dedicated to providing individuals and corporate customers with foreign currency exchange services. ETX is one of the first financial institutions to offer RMB services, 按and can provide offshore RMB international settlement services for both individual and corporate customers.

How to open an account and become a registered customer?

You need to bring you passport or drivers license plus bankcard, as well as a proof an address (bank statement, utility bill etc) to any branch.

You will also need to fill out an open account from at this companys branch, or in advance which can be downloaded from its website. After you have successfully registered, you are entitled to a range of special offerings by E-TRANS including, but not limited to special rates, quick telegraphic transfer and low T/T fees.

E-Trans does not accept customer registrations through phone calls or emails.

Real-Time Exchange Rates

The official website of ET Exchange shows the real-time exchange rates of some popular currencies, such as AUD/CAD as low as 0.9930 (Bid) and 0.9738(Ask), AUD/RMB as low as 5.0460 (Bid) and 5.1429 (ask). AUD/EUR as low as 0.6407(Bid) and 0.6493(Ask), CAD/CNY as low as 5.2694 (Bid) and 5.3634(Ask), NZD/CNY as low as 4.6300 (Bid), as low as 4.7390 (Ask). Currency exchange rates vary from time to time, and other currency exchange rate details need to ask customer service.

Trading Platforms

eCom Exchange offers the eFX Manger trading platform, but for more information about this trading platform, investors need to register for an account.

Payment Methods

If you are only exchanging cash in your home currency or foreign currency up to a certain limit and withdrawing the equivalent in foreign currency or home currency, you can do so directly without registering as a customer; if you are exchanging cash in your home currency or foreign currency up to a certain limit or more, you will need to register as a customer before proceeding to the next step. The limit varies from country to country, so please consult the appropriate Etrans branches for details.

Customer Support

Clients who have any inquiries o trading-related issues can get in touch with E-trans through the following contact channels:

Telephone: 1 604 685 8255

Email: melbourne@etrans.com.au, vancouver@etrans.com.au

Pros & Cons of Etrans

Pros Cons
AISC-regulated with long establishment Limited service range
Real-time exchange rates Average customer support level
Proprietary platform Negative reviews
Payments via Cheques taking 3 business days

Frequently Asked Questions

Is Etrans regulated?

Etrans is regulated by the ASIC in Australia, with regulatory license number 439303

Where I can find the rate?

You can find the rate and market trends on Etrans website to help you decide the ideal time to exchange your currency.

Do I have to registered for cash transactions?

If you are exchanging less than 1000 AUD (or foreign currencies equivalent), it is not necessary for you to open an account with Etrans. However, if you want to exchange more than 1000 AUD (or foreign currencies equivalent), you will need to open an account with Etrans before doing any transactions.

What are payment methods supported by E-Trans?

You can transfer any amount to E-Trans' bank account through internet banking, mobile banking, or visiting your local bank. You can also make cheques payable to E-TRANS, and it takes 3 working days to clear.

User Reviews

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8

Comments

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FX1035714799
more than one year
etrans is a complete scam! ! He has scammed many clients out of their money, forcibly closing their accounts and not responding to their messages, as if the world had evaporated.
2022-11-22 17:42
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0
0
FX1015868943
more than one year
I have to say that Etrans’s currency exchange process is really troublesome, I transferred USD$5000 from U.S. to Australia a few days ago, and this company made a mistake due to its intermediary bank. As a result, it took over 4 days for my funds to arrive. I would not use this platform any more.
2022-11-17 12:02
Reply
0
1
FX1022619685
more than one year
A excellent currency exchange platform👍, I used its services, efficient and exchange rates are reasonable. Its international payment services is also good. Recommend!✌
2022-11-17 11:24
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0
1
DH55529
more than one year
Etrans 's proprietary platform is easy to use anyway, and I think what disappoint me is its payment via cheques needs over three working days. I don't know how to say? If any other person encounter this issue? Their customer staff would only say sorry, and it will become even worse if have something important.
2022-11-17 10:47
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0
0
不吃香菜95423
more than one year
can't withdraw
2022-11-15 15:40
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0
0
j boy
more than one year
Niagara
2022-10-06 12:14
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0
0
j boy
more than one year
nice
2022-10-06 12:05
Reply
0
0
j boy
more than one year
hi
2022-10-06 12:04
Reply
0
0
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