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/10

EssenceFX

Vanuatu|5-10 years|
Regulated in Vanuatu|Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|Vanuatu Retail Forex License Revoked|High potential risk|

https://essencefx.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
EssenceMillennium-Demo MT4
Server Location United States

Contact

+852 37072209
support@essencefx.com
https://essencefx.com/

Licenses

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

Single Core

1G

40G

Open Now

Contact number

English

+852 37072209

Broker Information

More

Company Name

Essence Markets Limited

Company Abbreviation

EssenceFX

Platform registered country and region

Vanuatu

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 3
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • VanuatuVFSC (license number: 40309) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

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EssenceFX · Company Summary

Basic Information & Regulators of EssenceFX

EssenceFX was founded in 2016 and is a Vanuatu registered online Forex and CFD broker currently regulated by the Vanuatu Financial Services Commission (Regulation No. 40309).

Safety Analysis of EssenceFX

EssenceFX is currently regulated offshore only by the Vanuatu Financial Services Commission. From our sources, traders only need to pay 24,000 Euros to become a member, which means that the regulatory effectiveness of the Vanuatu VFSC is not strong, and the safety of investors' funds cannot be protected. Additionally, the minimum deposit required for EssenceFX Elite and Premium accounts (see account types below) is too high and risky, so investors should stay away from the EssenceFX broker.

Market Instruments of EssenceFX

EssenceFX offers investors a wide range of trading assets. In addition to the popular Forex markets, investors can also trade commodities, precious metals, and indices through the EssenceFX platform.

Accounts & Leverage of EssenceFX

EssenceFX offers three different types of accounts to meet the investment needs and trading experience of different traders: Standard Accounts (minimum deposit of $100), Elite Accounts (minimum deposit of $10,000), and Premium Accounts (minimum deposit of $50,000). The maximum leverage available for EssenceFX Standard accounts is 1:500, for Elite accounts up to 1:200, and for Premium accounts up to 1:100.

Spreads & Commissions

EssenceFX platform does not provide detailed information on product spreads and trading commissions.

Trading Platform Available of EssenceFX

EssenceFX provides traders with the world's leading and widely acclaimed MT4 trading platform, which is ideal for trading the Forex market, commodities, precious metals, deposits, and index assets. MT4 can also help traders to develop appropriate trading strategies and to get ahead in the financial markets.

Deposit and Withdrawal of EssenceFX

EssenceFX welcomes traders to deposit and withdraw funds to and from their investment accounts through various convenient methods such as credit/debit cards, NETELLER, China UnionPay, wire transfers, etc. EssenceFX requires a minimum deposit of $100 and offers traders a deposit bonus of a certain amount.


News

Is EssenceFX a scam or legit broker?

NewsIs EssenceFX a scam or legit broker?

2021-12-14 20:41

No, it is not safe to trade with EssenceFX, because it is an offshore broker. The Company is wholly owned by Essence Markets Limited under registration number 40309, regulated by the Vanuatu Financial Services Commission, and incorporated in the Republic of Vanuatu.

WikiFX
2021-12-14 20:41
News
Is EssenceFX a scam or legit broker?

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Mr K55575
more than one year
The company's website is no longer open! I saw its regulatory license revoked, and wikifx has also seen victims... There is no doubt that this is a scam company.
2022-12-13 10:42
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You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
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