Evest Group Ltd Review – 5 things you should know about evest.life

Beware! Evest Group Ltd is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Evest Group Ltd is nothing more than another anonymous scammer – that much becomes plain obvious even by looking at the broker’s bare, uninformative website. This is definitely not a regulated company which means that investing with them is risky. Such brokers will rob you the moment you deposit and will then disappear. Moreover, Evest Group Ltd does not even offer that good of a trading environment – opening an account with such a company is pointless and dangerous.

Evest Group Ltd Regulation and Safety of Funds

Evest Group Ltd failed to provide any proof of its legitimacy. The broker is fully anonymous and can only be contacted via chat or e-mail – they have not provided a phone number or a registered address. Another thing Evest Group Ltd has not provided is any sort of legal documentation which is a huge red flag. Legitimate brokers would always make sure to offer a full package of legal documentation – Terms and Conditions, Privacy Policy, KYC, etc. You should always make sure to read those carefully before opening an account to make sure that everything is in order.

Evest Group Ltd did not offer any sort of license information either which means that they are definitely unregulated. Working with such brokers is risky because, unlike their licensed counterparts, they do not have to meet any requirements, or report to strict authorities.

Brokers regulated in stern jurisdictions like the UK, the EU, and Australia on the other hand are generally very reliable and have to follow many laws and meet many requirements to prove their financial stability and legitimacy. Our advice is to work with such a broker instead of wasting your time on scammers.

Evest Group Ltd Trading Software

Evest Group Ltd promises access to the well-known MetaTrader 5. Downloading the platform was indeed possible but since the broker did not provide us with the necessary log-in details, we were unable to see if the terminal was actually functional. Moreover, the promise of great software is definitely not a good enough reason for opening an account with a scam broker.

Our suggestion would be to see what MT5 has to offer with one of the many regulated brokers that offer it.

Evest Group Ltd Trading instruments

Evest Group Ltd promised access to markets such as Forex, Energies, Metals, and Cryptocurrencies. This is actually a quite poor range of instruments – most legitimate brokers also offer instruments such as Stocks, Indices, Futures, ETFs, Bonds, etc.

Evest Group Ltd Spreads and cost of trading

Since we could not open an account with Evest Group Ltd, we cannot say what sort of spreads the broker offers. You should keep in mind, however, that some of the best brokers in the industry offer spreads as low as 1 pip (or even lower) so investing with these scammers is quite pointless.

Evest Group Ltd Maximum leverage

Evest Group Ltd supposedly offered maximum leverage of 1:400. For inexperienced traders, such high rates will most probably result in big fast losses. There is a reason why leverage is subject to restrictions in so many jurisdictions – authorities generally try to limit the size of the losses retail clients can suffer.

Although the promise of bigger profits through high-leverage trading is tempting, you should always make sure to be careful with your leverage settings and make sure you can handle the rates you are trading with.

Evest Group Ltd Deposit and withdrawal methods

Evest Group Ltd only accepts deposits made via wire transfer or in a few crypto coins. Many scammers favor crypto payments for a very specific reason – it is impossible to get a chargeback on such a transaction. Crypto payments are also anonymous and can easily be traced to a wallet address but not to a specific person or organization. Only use this payment method with brokers you are absolutely sure you can trust.

Evest Group Ltd Minimum deposit

Evest Group Ltd states that the amount of money you have to invest in order to start trading is “ultra-low” at $1000. In reality, that is quite a lot of money – there are plenty of brokers that would open an account for much less, even for as little as $5 sometimes.

Evest Group Ltd Withdrawal requirements

Evest Group Ltd did not provide us with Terms and Conditions and as a result, we are unable to say what sort of withdrawal requirements the broker has.

You should be extra careful on the subject of withdrawal requirements because it is often through shady clauses in that department scammers prevent you to withdraw funds. Many such brokers charge very high withdrawal fees – as high as 20% while legitimate brokers only charge a few dollars or cover transaction fees altogether. Often enough, you might also be expected to meet outrageous trading volume requirements before being allowed to withdraw.

Such clauses are definite proof that the broker is running a scam so always look through the Terms and Conditions carefully to make sure that is not the case.