East-Century.com review – 5 things you should know about east-century.com

East-Century.com review – 5 things you should know about east-century.com

Beware! East-Century.com is an offshore broker! Your investment may be at risk.

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In this review, we are going to examine an obscure broker that falsely claims to be a transparent and supervised business. They offer Metals, Oil and Energy CFD trading on MetaTrader, but Forex is also possible. In fact, upon download, the default instruments on the platform are currency pairs. However, we detected way too many red flags and warning signs that we’ll share in the full East-Century.com review.

East-Century.com REGULATION AND SAFETY OF FUNDS

East Century is a truly anonymous broker. The people running this business reveal nothing about themselves except for the company’s name- EAST CENTURY GROUP LIMITED. Our research showed there is a British company bearing the same name, but East Century doesn’t mention anything about the UK. Also, the British entity doesn’t have a license to operate as a Forex broker, so East Century is an illegal enterprise and most probably a scam. Your funds are not safe if you deposit with this broker.

Avoid them and see the adequately regulated EU brokers and the British brokers we recommend by following the links provided. The European financial markets are strictly regulated and safe for traders and investors. Financial authorities in the EU and UK enforce various customer protection regulations to guarantee fair and ethical business behaviour. Most importantly, there are money protection schemes laid down to guarantee traders and investors’ money in case of bankruptcy or fraud. For example, CySEC brokers’ clients can claim up to 20 000 EUR, while the British guarantees are up to 85 000 GBP per person. 

East-Century.com TRADING SOFTWARE

East Century’s trading platform is MetaTrader5, one of the best on the market. The EUR/USD spread on the demo account is 1 pip fixed, a favourable Buy/Sell difference for traders. However, as this is a shady and potentially fraudulent scheme, we do not recommend opening an account with East Century. Furthermore, they want from the clients to provide with ID verification documents, which is a major red flag in this case. 

We urge traders and investors not to submit personal information to shady brokers like this one. These people might as well be involved in Identity Theft, which is a very dirty criminal offence. The identity thieves want to get hold of your details such as ID, credit card numbers etc. and drain up your bank account. They can also take lines of credit on your name, register companies using your details and so on. Identity Theft includes long-term risks, so beware.

Considering trading software, see the MetaTrader4 brokers and MetaTrader5 brokers we recommend. MT is the most popular Forex platform, which seasoned traders and investors highly acclaim. The software provides sophisticated tools such as Expert Advisors, Algo trading and plenty of complex indicators. MetaTrader also created a marketplace where you can find more than 10 000 apps and third-party developed trading solutions.

The maximum allowed leverage is 1:100, which is indeed risky for retail traders. Leverage is a financial tool multiplying profit potential, but it significantly increases the risks. In fact, it’s the main losses driver among traders with little or no experience, so many financial authorities stepped up to impose restrictions as customer protection measures.

As a result, the European, British and Australian brokers (to come in effect later in 2021) are limited to 1:30, while the Canadian brokers and the US brokers can’t provide higher levels than 1:50. The Swiss brokers aren’t restricted, but there is a 20 million francs capital requirement in Switzerland, which keeps shady schemes away.

East-Century.com DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit with East Century is $100, a requirement that meets the industry standards. However, the funding methods are unknown because neither East Century mentions anything on their website nor test their payment system by ourselves. Anyway, we recommend Credit/Debit cards funding only because it’s the safest deposit method, regardless of the broker. 

However, if you have a preferred payment system, see our lists with legit Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers and Bitcoin brokers. The selected companies are strictly regulated, so it’s unlikely for traders to experience fraud.

In this section, we have to raise another red flag. East Century doesn’t provide adequate legal documents to serve as a contract between the parties. As a result, traders are also left unaware of significant provisions regarding withdrawals, fees, inactive accounts, bonuses, etc. That’s yet another reason to run away from this phony broker.

Overall, East Century is a shady business creature not abiding by the laws, so stay safe and avoid.

HOW DOES THE SCAM WORK

People can see many fraudulent ads on the Internet and social media posted by scammers who want to steal as much as possible from traders and investors.

If you click on the post and submit your e-mail and contact number, they’d ring you immediately and would promise you anything to make you deposit money as quickly as possible. Most of the scammers are experienced manipulators, and before you know it, they’d ask for your bank card numbers out of the blue. Urgency is a treacherous sign, so if someone pushes you to start trading ASAP, then it’s most probably a scam.

However, the first deposit is just the beginning. Gradually they’d ask for more money from you no matter what. If you lost on the market, they’d persuade you to put more money and recover the losses. If you traded well, they’d convince you to put more money and increase the profits. The troubles start when you ask for a withdrawal. The scammers would do anything to discourage you and would even ask you to deposit even more funds if you want to withdraw. The scammers’ mantra is “give me your money”, they’d insist every day you should fund your account over and over again for no obvious reason. Legit companies do not bother you over the phone to deposit with them, so if someone pushes you to invest, it’s most probably a scam.

WHAT TO DO WHEN SCAMMED

Unfortunately, no one is immune to scam. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you necessary instructions to follow and will help you, if possible, recover your money.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!

It’s crucial not to rush blindly trying to recover your funds because many scam recovery agencies and individuals are stalking, aiming to double scam the victims. They ask for an advanced payment but do nothing to help you recover your losses and simply pocket the money you’ve sent!

Share online your experience; it’s important to protect others, as well. Be responsible!

Rich Snippet Data
Review Date
Reviewed Broker
East-Century.com
Broker Rating
11stargraygraygraygray

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41 Comments

  1. I am scammed (it is live). I don’t know where to start. I wish I had read this article before I got into this. Contact me if you are interested.

    1. Bro sent me an email and let me know what happened

      Kind regards Aldo

    2. Hi Franklin!would you please let me know what happened to you. I have currently started to trade with east century group. It seems real, to make sure I with drew $100. But I’m still a bit iffy about it so before I invest more money that what I already have,I want make sure. If you would kindly tell me your story. Thank you -Gema

    3. Hello, I think I was also scammed by Easy Century, I got tricked like a newbie… tell me your story!
      —————————-
      Bonjour, je pense être victime d’une arnaque également par Easy Century, je me suis fait avoir comme un débutant…racontez moi votre histoire !

    4. Franklin, contact me please .

  2. 100% scam, they tried with me, the phone number they contact me is +852 6544 4298

    Her uncle is a broker, he’s suggesting her how to earn money with forex….then she starts to make you trying…

    1. Luca, give more information about the person who contacted you. Because I am receiving the same offers with a similar story of a number + 852…

      1. +852 6308 4031 This is the number of the young lady who got me into trading with signals from her uncle . I was totally scammed.

    2. I am in contact with a girl from Hong Kong, same story that her uncle is a big time investor. I nearly took the bait until I read these reviews. Thanks everyone

      1. Young lady friended me on Facebook. Then said we could talk more freely on WhatsApp. Rolls Royce in her profile pictures. I asked how she made her money . Said she owned companies in Hong Kong and traded ion the forex market . She said give it a try . I’ll make you money . I get trading signals from my uncle . So I wired 5000.00 . Traded and made a little money . She said if if wanted to make a lot of money I needed to have 50k in my account . So I wired more money . Still short 20k. She said she would loan me 20k. She deposited it in my MT5 account. I traded some more. Now I have 62k in my account. Now it’s time to withdraw funds . I was told by broker I needed to pay a 10% bond tax deposit which would be refunded to my account in 7 days . In the mean time I traded with her help. Got a nasty message from broker that what I did was illegal. Now my balance is 69k. Now they want me to send 10% which I did but the money got hung up in a California bank and luckily my bank recovered my 6900.00 for me. Broker wanted me to resend money or my account would be frozen and I would loose all my money . I told this lady and the broker no way was I sending more money . He has not responded to me in two weeks and the young lady said I disappointed her and she won’t respond to me either . Not sure what to do .

        1. Was her name Sylvia? Because I think I just got scammed to.

          1. No , her name ( she says ) is Li Wenwen . Has a great Facebook page that looks normal with everyday events logged . Has all men it seems that comment on her posts from all over the world .

  3. I got scammed by East Century Group too. I met a girl from Hong Kong on Tinder, her name was Lana. We started talking on WhatsApp. She said she was a clothing designer but was into trading on MT5 trading currency. I was into trading too so she hooked me up with a account with East century group. She told me she was successful at it and had a hot shot analysis team helping her out. I wired money to a couple banks in Hong Kong. We traded, made money on MT5 platform. She kept talking me into investing more. Finally I decided to stop, I felt like something wasn’t right. Now it seems I can’t get my money back. I don’t know what to do? Does anybody have any suggestions? Look out for https://www.financial-agent.com/. They are a False too.

    1. Sounds similar to my story. The subversive thing is the scam went over 2.5 years before they set the trap. She never urged me to invest, didn’t suggest me to trade but just mentioned it in a conversation after I chatted with her for 4 months already. Then I started to trade with her and the advice of her “uncle”.
      The whole scheme is extraordinary and extremly elaborate. The scamers learned if they push and urge too much people will get suspicous. So they take a lot of time to gain your trust and to built a truly remarkable cover story. They work extremly professional and make use of psychological tricks. It’s not just some nerds in a cellar trying to deceive some idiots. It’s a large international criminal organisation with offshore companies in England, New Zealand, Hong Kong, Singapore and they manage to scam intelligent people on a daily basis.

      Now you need to be aware that they sit in China. And to run a criminal business that large in China you need colaborateurs in the party and the police, high ranked officials.
      If you manage to cause them troubles they need to pay higher and higher briberies to those people. So they could be interested to pay you back if you don’t cause them any troubles.

      I managed to lure the “girl” to visit a website I manage, that’s how I got her IP. With that I could track her down to a city in China. I then took a lawyer in my country with an office in China. Then I sent them a letter from my lawyer in Chinese stating that we know where they are, who they are and that we will cause them troubles. That’s how I got into negotiation with them.
      It’s ongoing now. I can’t tell you if it will be successful. But I can tell you it takes endurance to go this road and it only pays off if you lost a lot of money (I’m talking tens of thousands of dollars). Also, you would get only a fraction of what you lost.

      Another strategy is a bit more evil but less evil as thos people are. Start a DDOS attack on their server to take it down. It’s probably a much higher loss and much more real threat to them than charges at the police.
      You can find the IP of their MT5 server easily with Windows network monitor. Be aware that the server most likely is behind a VPN. So you might only take down the VPN server but not their trading server. Of course not everyone has a botnetwork to start a DDOS attack, me neither, but there are people who offe those kind of service on the darknet.

      And most importantly what you shoult do is to talk with your friends about scamers on social networks! Raise awareness and prevention is the best thing against those criminals. You don’t need to mention your case but make the problem of scamers on social networks a topic. Not kidding but every year, worldwide billions are lost in those kind of scams! I read of cases where people lost several hundred thousand dollars in one scam!

    2. Read my post . Sounds familiar . Did this lady send you pictures of herself on WhatsApp? Is she Asian?

      1. Yes Same thing happened to me. Asian lady from Singapore her name was Sylvia~

    3. Matthew, I contacted my bank and they are investigating every wire transfer I did . I was very lucky to get some money back . These people are very good and convincing.I should have seen the red flags but I trusted them .

  4. Same situation here.. this lady by the name Anna (probably not her real name) contacted me… Says her “teacher” taught her how to make money quick and big.. number is +852 6750 7657

    tried to ask me to put money

  5. Guys i have this same history with this number : +852 5485 5136 / She is Name : Alyssa
    Please Guys be Careful !

  6. Hello,have the same situation ,met a girl on whatsapp saying the same things
    Saying that she’s a successful business woman and going to help me make money,
    Se call herself ..First lena and then kelli. She sent me the mt5 app to register.
    I wasn’t sure about it so I didn’t, but everyday she keeps telling me to register,
    So I thought something wasn’t right ,thats the reason I started looking up.
    Sorry for what happened to you guys.
    We just need to be extra careful
    Thats the girls number +85259323962

  7. Similar story to others here.
    Met a girl on tinder going by Anne, claiming to be a clothing designer, with a rich uncle who has a financial analysis team, etc. Sounds like they re-use the same story a lot.

    We chatted daily for almost a week before they tried to rope me in to the trading app. So they were certainly patient about it.
    A few things about the situation just didn’t quite add up to me, so before going any further I started searching for more information and found this.
    Fortunately I never went as far as sending them anything important beyond my name, email, and phone number. Probably not enough that I have to worry about any serious identity fraud occurring.

  8. I have been talking to this girl for about 3 – 4 months now. Mostly talk about every day stuff. Before she contacted me (via WhatsApp saying se was trying to contact someone else). I was already educating myself about forex trading and to be honest she has taught me a lot. Once in a while I enter the market using a demo accounts with east century group. She’s not persistent on my opening a real account, but I had my reservations and my research took me here and to other similar sites. Story checks out. Her uncle advises her when to stabling Market and when to close. Convos are fun though so as long as I don’t use east century as a broker there is no issue. BTW, any suggestions on a reliable American broker?

    1. Don’t do that! I had the same idea: use the tips and trade with another broker. It doesn’t work. They won’t continue giving you tips if you don’t trade with them. They will say something like “the competition is huge between brokers” “you have to trade with us because it’s the living of my uncle” or a similar story.
      And I explain why their tipps don’t work. Their market prices are forged! Open a demo account on a relyable broker and compare it to the prices of the scamers. They will differe for about a few dollards. Maybe 2-3$ up to 10$ sometimes. The trend always looks the same so it’s not obvious. Now what they do is, when they tell you to enter the market at time x and leave it 10mins later they will let the price drop or rise at this exact time.
      Like this they can let you think you always make profit. The reality is not even the best brokers have a positivity rate of >50% profitable trades. Be aware of that!
      Professional traders lose more often than they win, but their profitable trades bring more cash than they lose in the negative trades. That’s strategy, thats statistics and mathematics, that’s extremly complex and dangerous.
      So what the scamers do is they continously forge the price and like this the continously produce a history of profitable trades. Then they send you screenshots of how successfull they are. And that makes you think “hey, maybe I can profit of this too and make a little extra on the side”. You don’t!
      I learned this the hard way. Don’t do the same mistake.

    2. This lady always has sent me pictures of all these pretty ladies having very extravagant dinners together in Hong Kong . Very expensive dinners as we all know how expensive Hong Kong is . These are not her friends as she said but, having dinner with coworkers in the investment scam business most likely celebrating their victory incomes .

  9. Same story for me, but I didn’t invest by now.

  10. Patient Observer

    Hello All, I am in the same situation right now, same story but I have not invested yet nor opened a real account using MT5. Her name is Katherine and her phone number is: +852 6705 1284, I found this review while doing my research about the broker which happens to be EastCenturyGroup and I am glad I did before going further on the investment. I even spoke to her on the phone using Whatsapp buy she has not wanted to do videocall, maybe because she does not want to be seen.

  11. They are changing the website to a new website as ecgtar.com , be careful!1

  12. Some number appear in my whatsapp contact she claims to be a successful business woman,she claims to be from Singapore, she want people to open account whit (MT5) app invest in (east century group) this company is not even licensed, She train to scam people,
    the number in her account number is
    (852 5645 8450 ) whatsapp account
    her name its (AMY) but I know that’s not her real name she’s a scammer, This peoples are train to steal personal information, and steal peoples money, if you have the same situation contact WhatsApp costumer services email at [email protected]
    and report this criminals don’t give any information away

  13. Im from Peru , the same history with this girl and her aunt , they want that I open to account in https://www.ecg-limited.com/
    girl number : +44 7863 510866
    Aunt number : +44 7898 770781

    Be careful !

  14. Yes, their website has been changed to ecgtar.com, the girl claimed she is based in Macao and her aunts in Hongkong and worked as advisor so … be careful!!!

    1. Thank you for the information. They change their name every three or so months. It’s incredible what effort they take. But in the end it’s still extremly lucrative for them.

  15. They are changing the website to a new website as ecgtar.com. I met a lady from Facebook then we communicated via WhatsApp, her name was Mingting Zhang, she told me she was running a beauty salon in Macao and her cousin was in Hongkong working at East Century Group and during our communication she showed me examples how she made money via investment at ECG using MT5 platform with the help from her cousin and the management team from ECG, then she want me to invest as well…. she made a very good story on this, luckily I did not move forward then I pointed out her issue and immediately she blocked me from WhatsApp. Her WhatsApp no. +85265225358, actually this was a number from Hongkong, she even did not realize this herself. if you come across this lady, please contact me, I have a good story to share with you. Be careful!!!.

    1. Joe, this lady I met on Facebook was always at dinners with many young pretty ladies . Very expensive dinners because she always sent me pictures . I have a feeling they all worked for the same “ head scammer” and would have victory dinners to celebrate. This woman got very romantic with me and wanted me to come to Hong Kong to live .

      1. Hi, Tim, Exactly same situation here, she sent me lots of pictures as well, and she said she lost husband in accident and had two daughters and also with another lady to work with, she said she planned to join me in Europe and planning to invest and buy house in abroad to live with me, find the way to persuade me to invest with her and even tried to open an joint account with me in ECG, absolutely this was a planned scammer, I think they have trapped many people already, luckily I did not move on….

        1. Hi Joe. We communicated every day for 6 months. She wanted me to build up my trade account so I could move to Hong Kong to be with her . She was very convincing. She told me her husband cheated and beat her which is why she divorced about 5 years ago . All these young ladies have different stories but they all have one thing in common. Get your money ! This is a international crime organization and they appear to be well trained . My only hope of retrieving money is through my bank . Fingers crossed but I’d be very lucky to see a return .

          1. Thanks Tim, good luck with that! Take care everyone!

    2. Hey Joe, I have been in the same situation and scammed unfortunately, my funds are frozen with them,can we get in touch ,thanks

      1. Hi, Yen, contact me by email at [email protected] talk soon.

  16. The same for me , a girl from Hong Kong reached out to me on Facebook, her name is Anna ,and told me that she has her uncle as an expert analyst and want to help me to in trading, I fell in the trap unfortunately. and now my money is frozen with them and they ask me to send the same amount in order to unfreeze it. it’s the perfect scam.

    you can get in touch with, if you are in the same situation, and we can try to find a way out of this, thanks

  17. What did you do guys, I am in the same situation

    1. and I took the bait unfortunately, and been scammed

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