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


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


ErcBroker, or ERC Broker, is trying to convince us that it represents a new generation broker through which we can invest in the financial markets with peace of mind. But a careful inspection reveals that this website is in fact a scam with nothing innovative about it. In this review, we will show you why you should not trust your money to ErcBroker and recommend reputable forex brokers as an alternative.

ErcBroker Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

ErcBroker provides a UK contact address, but we don’t see a company name there.

The text of the Customer Agreement states that the broker is operated by a company named Erc Broker Ltd, but lists Saint Vincent and the Grenadines (SVG) as the applicable jurisdiction. While this country has a financial regulator, unlike other offshore areas, it does not regulate the activities of forex and CFD brokers. Тhe Financial Services Authority (FSA) of St. Vincent and the Grenadines has repeatedly issued warnings on this issue.

But we do not find an ErcBroker among either the licensed brokers in the UK or the companies registered in this offshore zone. In fact, we find no evidence that this legal entity actually exists. The only certainty is that whoever actually owns this website is not a duly licensed financial services provider.

Financial authorities in another jurisdiction, Russia, have blacklisted this website.

If you have decided to invest in financial instruments, and especially if you are a novice trader, you should use the services of a licensed broker based in a jurisdiction with strong regulations.

Depending on your location, it is advisable to choose a company that is regulated by an institution such as Commodity Futures Trading Commission (CFTC) in the US, Australian Securities and Investments Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK.

ErcBroker Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
ErcBroker platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

ErcBroker  implements web-based trading software. Here is how it looks like:

It should be noted that the presence of some kind of trading software is no guarantee that this is a genuine broker. Financial scammers often use rigged trading platforms to fool their victims that their money is actually being invested. However, this trading is entirely fictitious and the money goes directly into the scammers’ pockets.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

ErcBroker Trading instruments

FP MarketsYesYesYesYesYes

ErcBroker advertises trading in all major asset classes, including cryptocurrencies. This also indicates that this website cannot represent a broker operating legitimately in the UK. Financial regulations in this jurisdiction prohibit brokers from offering crypto derivatives trading to retail customers.

ErcBroker Spreads and cost of trading

ErcBrokerXMFP MarketsOcta
Spread EURUSD0,
Spread GBPUSD0,41.31.5x
Spread USDJPY0,41.31.5x

In the trading platform we see a low spread of 0.4 pips. But since the trading offered by this fake broker is undoubtedly fictitious, it doesn’t matter if the spreads look lucrative.

ErcBroker Maximum leverage

UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

ErcBroker offers leverage between 1:200 and 1:500 for different types of trading accounts. It is not possible for a UK licensed broker to offer such risky levels of leverage.

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

ErcBroker Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Crypto24 hours24 hoursFee depends on crypto

ErcBroker only allows the deposit of funds with cryptocurrencies. This is typical of financial scammers. Cryptocurrencies are their payment method of choice because on the one hand they allow the scammer a degree of anonymity, and on the other hand they do not allow the scammed to ask for a refund.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller. If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.

ErcBroker Minimum deposit

ErcBrokerXMFP MarketsOcta
Minimum deposit$500$5$100$100

ErcBroker requires a minimum deposit of 500 USD. For ten times or even a hundred times less, you could open a trading account with a leading global brand.

ErcBroker Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
ErcBrokerNot specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

ErcBroker does not specify extraordinary conditions for withdrawal. But these types of scams always surprise you with hidden fees and other tricks that prevent you from withdrawing your money back.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite

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