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Review of the illegal broker EasyMarkets - a scam with zero profitability, reviews of losses
The EasyMarkets scam, formerly known as Easy Forex, calls itself a forex dealer and has allegedly been operating since 2001. The company rebranded in 2016 in an attempt to improve its reputation after allegations of fraud due to the lack of cashouts. However, despite the name change, user reviews indicate that the old problems persist.
|Year of foundation
|Regulation and jurisdiction
CySEC, ASIC, FSA Seychelles, FSC BVI
Constant rebranding, fraud and ignoring traders’ complaints.
CT House, Office No.8F, Providence
- Low spreads
- Loyal requirements for account replenishment
- Constant rebrandings
- Fraud allegations
- No withdrawal of money
TradingView, MetaTrader 4, MetaTrader 5
|Types of accounts
Standard, Premium, VIP
Cards, Bank of Transfer, e-wallets, crypto
CFD, indices, raw materials, metals, cryptocurrencies, currencies
The offshore “daughter” of the Cypriot dealer drains deposits with a wide leverage and cancels profitable transactions
Legal registration and regulation of EasyMarkets broker
According to legend, a counterparty in financial markets is registered in several jurisdictions. The company’s main office is located in Majuro, Republic of the Marshall Islands. Addresses in Limassol, Cyprus and Sydney, Australia are also mentioned. A check of public registers showed that these addresses are only legal and are not intended for searching for company representatives. Sharaga has no real offices.
The scammers claim to operate legally in four jurisdictions:
- British Virgin Islands.
The following channels are available for communication with technical support:
- Facebook Messenger;
- Live Chat.
Customer reviews show that the support is incompetent. Technical support managers only answer questions about registration and account replenishment. Complaints about the lack of cashout are ignored by the administration.
Trading conditions and EasyMarkets platforms
Sharaga offers trading opportunities on a variety of markets, from energy commodities to major currency pairs and the world’s most popular indices. The company strives to create a convenient user experience. However, these are only superficial statements. The EasyMarkets scammers did not even detail the commercial offer.
Available trading tools:
- more than 275+ CFD markets for trading contracts for difference on various groups of financial assets;
- over 95 currency pairs, including major, minor and exotic assets;
a wide selection of cryptocurrencies, including little-known but promising altcoins;
- precious and industrial metals, including gold and copper, and access to energy and agricultural commodities;
trading of the most active world indices, such as S&P 500 and Nikkei 225;
- access to transactions with shares of the most popular issuers. Trading is carried out in CFD format.
Contract specifications have not been made public. The exact list of financial assets is also not specified. This highlights the negligent attitude towards cooperation on the part of EasyMarkets; you definitely shouldn’t open a personal account here.
The scam advertises several trading formats:
- easyTrade: is an innovative product offering limited and predetermined risk, zero spreads and no margin requirements;
- options: represent a diverse way of trading and are the basis behind an innovative product;
- forwards: the ability to fix the future price of a currency pair or other instrument today, often used as a hedging tool.
All transactions are concluded on the author’s sharaga platform. Liquidity providers are not specified; scammers independently manage quotes.
The SCAM project offers several types of accounts so that each trader can find one suitable for their trading style, investment goals and risk appetite. Fixed spreads are standard on all accounts, even during market volatility.
Regardless of the chosen market or account type, spreads remain the same and the account will never go into the red. There are also no fees for deposits, withdrawals or trading transactions.
All the talk about the absence of drawdown is a lie. Scammers manipulate the opinions of newcomers to force them to register and make a deposit. You shouldn’t follow the lead of the scammers.
Why traders are afraid to trade on the EasyMarkets platform
Disadvantages of the project and signs of fraud:
- One of the main reasons why traders are wary of trading with EasyMarkets is due to numerous complaints about delays and difficulties when attempting to cash out. This raises doubts about the reliability and transparency of the broker’s financial transactions;
- the rebranding from Easy Forex to EasyMarkets in 2016 was, according to some sources, an attempt to hide its bad reputation. Such actions may be perceived as an attempt to avoid responsibility for past problems;
- on the Internet you can find many negative reviews from former clients claiming that the company is engaged in fraudulent activities, including unfounded transactions on behalf of clients and artificial draining of deposits;
- the presence of legal addresses that are not actually used to conduct business raises suspicions. Also, the scam does not provide complete information about its bank details, which indicates the opacity of financial flows;
- By calling itself a market maker, the office faces a conflict of interest, since it makes money from the losses of its clients. This creates a risk of bias in the provision of trading advice and services;
users report difficulties with the registration and verification process, which is a sign of ineffective internal management and customer service systems;
- suspicions of gaining followers on social networks and the lack of activity on the company’s pages indicate the use of marketing manipulations to attract customers.
The above factors show the real risks of trading on the EasyMarkets platform, investments in opening an account are meaningless, since the sharaga appropriates investments from ordinary users . It is impossible to make a profit from cooperation with the company.
Clients are led by the legend of CySEC and ASIC licenses. However, these documents about Sharashka’s office are not available. The founders of the scam blatantly lie to users. This is a good reason not to contact EasyMarkets. The official website does not contain scanned copies of the disclosed documents. There is also no mention of this office in the regulators’ registers.
Отзывы о брокере EasyMarkets
Analyzing the submitted reviews, you can see a clear trend of customer dissatisfaction with EasyMarkets services. Most comments express disappointment and indicate serious problems with the broker.
Several users have reported significant financial losses. For example, IGOR7997 claims to have lost $2,000 due to advice from a manager provided by the company. This indicates possible problems with the quality of service and professionalism of the staff.
LashawndaC complains about technical problems with the trading platform: delays in order execution, glitches and freezes. They make profitable trading impossible. Zheka41 and Oleg Petrov express suspicions that the fake broker is deliberately draining client deposits and conducting unauthorized transactions.
Kostya highlights the problems with the long and difficult withdrawal process, which is a critical aspect for any trader. Cashout requests are constantly blocked without explanation. The site is designed to accept money only.
Traders complain en masse about EasyMarkets support, reviews confirm the incompetence of technical support managers. They refuse to help solve the really important problems, focusing solely on the difficulties with registering an account and making a deposit.
The company is unable to provide transparent and honest service. Scammers actively use manipulation and illegal tricks to seize the money of naive users. If you have also suffered at the hands of these scammers, write to us so that we can help you take your money from the forex kitchen.
Users complain about failure to fulfill stated promises by the EasyMarkets broker. A review of the project confirms its illegal origin. Charlatans falsified legal documentation to gain the loyalty of traders. This is an ordinary anonymous scam that is only trying to seem like a reputable broker. In reality, the project has nothing to do with financial markets and online trading.
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The company’s rating and reputation largely depend on whether its clients are satisfied. The reviews about EasyMarkets are not the most flattering, and therefore you should take a close look at them before deciding to cooperate with this platform.
To add a review of this company on the resource, you do not need to spend a lot of time. The whole procedure takes no more than 5 minutes, and this is already with registration. A letter with a link to confirm registration will be sent to your e-mail, and it will also contain detailed instructions on how to add a review to the site.
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