eMarketsTrade Review – 5 things you should know about emarketstrade.com

eMarketsTrade Review – 5 things you should know about emarketstrade.com

Beware! eMarketsTrade is an offshore broker! Your investment may be at risk.

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eMarketsTrade is a unregulated CFD broker that obviously tries to pass for a crypto exchange, as nowhere in their presentation they mention that what they actually offering are CFDs (contracts for difference, which follow the price of underlying assets) and not real crypto coins like Bitcoin, Litecoin, Ethereum and Dash, which they claim they offer. And yet, our main concern with the broker is their regulatory status, which we will discuss in the following paragraphs.

eMarketsTrade regulation & safety of funds

eMarketsTrade is said to be owned and operated by Kalessica Limited – a company supposedly based in Cyprus. However, they are not licensed by the Cyprus Securities and Exchange Commission (CySEC) or for that matter by any other official regulator in the European Union or any where else, and that means they do not have the right to offer financial services on regulated markets like Europe, the US or Australia.

Have in mind that dealing with unregulated brokers is extremely risk as they are completely unaccountable for the funds invested with their websites.

On the other hand brokers with legit licenses by CySEC or the Financial Conduct Authority (FCA) in the UK, for example, do guarantee the security of your investment and are even required to participate in client compensation schemes, which guarantee up to 50 000 GBP of your trading capital if you trade with a FCA broker, and up to 20 000 EUR if you are with a broker regulated by CySEC.

eMarketsTrade deposit/withdrawal methods and fees

In their FAQ section eMarketsTrade says 250 USD is the minimum deposit they accept. In the same time the minimum deposit requirement to open the starting Bronze account is set at 2500 USD, so we are not sure, whether you can start trading with 250 USD or not.

Also, eMarketsTrade does not tell us in their presentation what kind of payment methods do they accept. Just have in mind that most brokers accept major credit cards like VISA and MasterCard, as well as e-wallets like Skrill, which, by the way, recently adopted a new anti-scam policy according which if a broker wants to use their services, it will have to present a legit forex license.

And have in mind that if you accept a trading bonus by eMarketsTrade, in order to withdraw you will have to reach a certain minimum trade volume requirement – 40 times the bonus plus the deposit.

How does the scam work?

Scammers’ main goal is to trick you to invest as much as you can. And they use various techniques to do that. One popular scenario involves the so called robo scam web sites like Crypto Revolt and Bitcoin Evolution. There you will happen to watch a nicely cut video ad promising you fast and risk free returns with just a tiny investment. And if you get hooked and leave them your e-mail and phone, you will be transferred to the web page of a unregulated, offshore, scam broker, where you will be urged to invest your first 250 USD.

And if you really start trading with them you will be amazed by how successful your first trades will be – with just a couple of clicks your account will swell with cash. That, however, will simply be a manipulation. Remember that you are trading with a scam broker, most probably the trading platform is not a real, and the idea is that you should be more susceptible to invest a larger amount.

That is also the moment you will be bombarded with e-mails with trading signals and certainly phone calls from your so called “analyst manager” and “senior account manager”, who will plainly explain, that if you want to make some real money you will simply have to invest more – at least 10 000 USD.

And if you invest those money as well, they will try to convince you to invest even more, but if you do not comply than suddenly a trade will go wrong and the money in your account will suddenly evaporate.

And besides, if you request to withdraw anything scammers will refuse you on the grounds that you have not fulfilled some minimum trade volume requirement, probably linked to the welcoming bonus you have so carelessly accepted when you opened your account. Certainly it could be something else, but the result will be the same, you will not see a single penny back.

What to do if scammed?

The only viable way to get some of your funds back is to file for a charge back with your credit card provider and the good news here is that recently both VISA and MasterCard extended the period in which you can file for a charge back to 540 days.

Also, if for any reason you have given scammers your credit card number or online banking password, or if you have agreed to install TeamViewer (they might have suggested you install the program, so that they can help you with something), immediately block your credit card, delete TeamViewer and change the password for your online banking.

Finally, do not lose any more money by accepting the services of the so called recovery agencies – they will render you no service, but will simply collect some money in advance, leaving you even more miserable.

Rich Snippet Data
Review Date
Reviewed Broker
eMarketsTrade
Broker Rating
11stargraygraygraygray

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6 Comments

  1. After an exhausting,exciting,confusing experience with emarketstrade.com.i’m left with a feeling of being scammed.yes i placed the trades under supervision and to begin with all went well.4 out of four hits.€8700 up,over the top of gradually increased platform equity.They begin with small trades on amzn shares and you get results.Then as time passes and your bombarded with emails showing layouts of previous market moves,calls from your so called analyst manager who claims to be a 30 year trader,your then suggested to up the equity to avoid losing investment if a trade goes to a downward trend,and join a bigger group who your floor manager has been working with.this will give a lot bigger spread and more lucrative results.All along i was requesting that we stay with smaller trades and try to just use profits.seemed sensible to me.but sadly I didn’t and placed a trade on monday the 10th December, under supervision from my so called experienced floor manager.gbp/usd?why on earth would we place a trade on such a volatile market,i should have asked,but stupidly i trusted them as from previous results.it went horribly wrong,i was called and emailed to say you’d need to place €25000 to hopefully save your account.i wasn’t in a position to do that,and was truly scared to the bones.the account manager suggested he’d place €50,000 to save me if i swore to place the money once home.it would have to be a least €25,000.I didn’t do it as the bank wouldn’t allow the wire without verbal consent to up my limit.they added the €50,000 to my account (thought thats strange)why would somebody add €50,000 of their own money on a failing trade.Next morning I’m in a mess,frightened of what to do,get told i have to replace money or the account will go to its lowest margin before they put €50,000 in and account will read zero.They kept calling me demanding that i do wire or lose the lot. I went to bank and explained this story.its under investigation now and to be honest has left me ashamed,embarrassed and angry.lastly i was requested that i make the account manager an offer to save it,at that point i realised this isn’t real.please don’t make the €23,000 mistake i have,yours sincerely
    Mark

  2. eMarketstrade is a total scam. Takes all your money to trade on your behalf, never makes profit to the point where you can withdraw. Demands more and more money, logs onto your PC and applies for loans on your name to “recover your lost money”.

    Anyone interested in doing business with them – rather contact me first *******gmail.com and I will supply you with all of the facts you need to change your mind. If you have dealt with them, I have initiated legal action against them. My story can either help you or yours can strengthen my case.

    Johan

    1. I’m in to catch them!!!!!!!!!!!!!!!!!!!

  3. Disgusting company, robbing people….no shame.

  4. Johan Du Preez

    If you are considering investing in and trading with eMarketstrade there are a few things you should know. DO NOT allow them to log onto your computer, DO NOT deposit any money into their account and DO NOT sign any “Declaration of Deposit” (DOD). You WILL lose all of your money. I have been dealing with eMarketstrade for over a year and I have managed to save countless people thousands and thousands of Euro/Dollar/whichever currency. I have all the needed correspondence, telephone conversation recordings, videos of their anydesk and teamviewer actions you will need to help you with your decision. Contact me on [email protected] for more information. Regards Johan du Preez

  5. Just a pack of bloody mongrels. As stated above they gave me 10,000, I immediately tried to cash up so they could get their money back. Every kind of obstacle was put up so I couldn’t cash up. As we say in this country, a pack of dog tucker wankers. Take my and the above advice, kick the suckers into touch .

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