Ec Markets Review – 5 things you should know about ecmarkets.net

Beware! Ec Markets 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.

Ec Markets seems to be a regulated broker but they are definitely not the most reliable option out there. This enterprise operates under a whole web of domains and seems to be targeting clients from jurisdictions it cannot legally be targeting. Moreover, the trading environment the broker offers is far from the best.

What we generally suggest in such cases is ignoring the broker and turning to trading solutions that are more reliable.

Ec Markets Regulation and Safety of Funds

Ec Markets had us perplexed when it comes to regulation. The broker claims to be regulated by the FCA (the UK), one of the strictest financial authorities in the world, as well as by the FSA of Seychelles, and the FSC of Mauritius. This branch of the broker seems to be based on Seychelles.

When we checked the registers of all of these authorities, we found that such a broker was indeed licensed – but not under the domain ecmarkets.net.

This is quite unusual for a legitimate broker. Moreover, this branch of the broker seems to be targeting US clients specifically – without a local US license. This is actually illegal and does nothing to prove that this is a reliable company you can invest your money with.

We still appreciate the fact that this broker seems to be multiregulated – and by an authority like the FCA nevertheless. However, we would still recommend that you check other licensed brokerages that are more consistent in their regulatory information. Those based in the UK, the EU, and Australia are generally your best option.

Ec Markets Trading Software

Ec Markets offered access to one of the best-known platforms in the world of trading, MetaTrader 4.

This is without a doubt one of the best platforms you could possibly trade on. It is not only intuitive and easy to navigate but also stacked with amazing tools and features. You would be able to employ Expert Advisors to track markets and trade automatically, create your own trading bots and indicators, set signals for prices going up or down, or purchase add-ons on the MT market.

MT4 is without a doubt a great option if you are looking for a decent platform but we would still recommend that you use it with a broker that is a tat more reliable.

Ec Markets Trading instruments

Ec Markets offered access to popular markets like forex, metals, oil, indices, and cryptocurrencies. The number of trading instruments was, however, on the lower side. Most legitimate brokers offer hundreds, and sometimes thousands, of instruments in various asset clauses – not only the ones mentioned above but also stocks, other commodities, futures, bonds, options, ETFs, etc.

Ec Markets Spreads and Cost of Trading

Ec Markets promised spreads starting from 1.2 pips but surprised us with much lower results on their demo account – 0.2 pips on EURUSD, and 0.4 pips on GBPUSD and USDJPY. Such a discrepancy is unexpected and might mean that the broker has done something in order to manufacture such results – we have no way of knowing what we would actually get on the broker’s real account.

Ec Markets Maximum leverage

The maximum leverage Ec Markets offers is 1:500. We would not recommend that you start trading with such high leverage as a beginner even though offshore brokers are completely free to offer higher rates. Trading with high leverage is tempting for many traders since it could result in much bigger profits. The likelihood of much bigger losses, especially for less experienced traders, is, however, not to be neglected.

Ec Markets Deposit and withdrawal methods

Ec Markets accepted payments made via international or local bank transfer, or in crypto. The problem with both payment methods is that such transactions are irreversible. Wire transfer transactions can technically be reversed but that rarely happens – mostly in cases of technical mistakes.

Most legitimate brokers accept a much wider variety of payment solutions such as credit/debit card and e-wallets like Skrill, Neteller, and PayPal.

Ec Markets Minimum deposit

Ec Markets did not specify what the minimum deposit requirements were. That is a weird slip-up since most brokers would make sure to include this information.

Trading with such shady brokers is not worth it – especially since some of the best brokers in the industry offer extremely affordable accounts, sometimes even for as little as $10.

Ec Markets Withdrawal requirements

Ec Markets did not mention any specific withdrawal requirements but we would like to point out that the broker’s Terms and Conditions were very brief and did not feature a lot of important information. Such shady companies often do have certain withdrawal requirements and you should always be on the lookout. Some such brokers ask their clients to pay outrageous withdrawal fees while others have impossible to reach trading volume requirements.

Whatever the case, that is all the more reason to trade with a more legitimate broker.