Epentomia – Are They Safe?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Epentomia - DO NOT TRADE WITH THIS PROVIDER
2.2/10
$100
Minimum Depositupdated 2022
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://eptfx.exchange
Founded: 2021
Regulations: None
Languages: English, All Google Translate Languages
Deposit Methods: Payeer, Perfect Money, Cryptocurrencies (Bitcoin, Litecoin, Ethereum)
Minimum Deposit: $500
Free Demo Account: No
Number of Assets: 500+
Types of Assets: Forex, Cryptocurrencies, Stocks, Indices/Commodities
Trading Accounts and Conditions
Epentomia does not offer their clients trading accounts. This broker offers their clients packages. Here is what they have to offer:
- Starter Account: The deposit range is from $500 to $2,999. The leverage is 1:300.
- Basic Account: The deposit range is from $3,000 to $9,999. The leverage is not specified.
- Bronze Account: The deposit range is from $10,000 to $99,999. The leverage is 1:500.
- Silver Account: The deposit range is from $100,000 to $999,999. The leverage is 1:500.
You make weekly 100% for 4 times: we do not know what exactly this means. Spreads are not mentioned, and neither are other trading conditions.
Epentomia – Advantages
There are no advantages to trading with Epentomia.
Epentomia – Disadvantages
Here are all the disadvantages we have discovered that tell us that Epentomia is a not a safe broker and they are scammers:
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Unregulated and Blacklisted Broker
Epentomia claims to be regulated and secure. The broker also presents us with two addresses – one in the UK and another in the United States.
The name of the parent company seems to be EpentomiaLLC; we only found out from the About Us section.
However, nowhere on their website, not even in their Terms and Conditions sections, does the broker explicitly state how and by which authority are they regulated.
Now, presenting us with addresses in the UK and the US means that this broker is trying to let us know that they operate in these two jurisdictions and they are regulated here.
To operate out of the UK, a broker needs to be regulated by the FCA, the Financial Conduct Authority. And to operate out of the US, a broker needs to be regulated by the CFTC, the Commodity Futures Trading Commission. But being regulated by the CFTC is not enough in the US. A broker, to be fully regulated, has to also be a member of the NFA, the National Futures Association.
We checked the FCA’s register first. We found out that not only was Epentomia not regulated by this authority, but that the FCA has actually blacklisted this broker for operating illegally in their country. The UK authority has marked this broker has a scammer and has warned all UK traders to stay away from Epentomia.
We did not bother checking the US authorities’ registers. A warning from the FCA is more than enough to let us know that we are dealing with a scammer here.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Issues with Trading Software
The only thing we learn about Epentomia’s trading platform is that it is very good; and this is something we got from the so-called customer feedback on their website.
The broker themselves do not specify what kind of trading software they have to offer their clients. This clearly tells us that we are dealing with a scammer. Legitimate brokers would make sure that they clearly advertised the kind of trading software they were offering. After all, this is their main product offering to traders who sign up with them.
Since we could not find any information about their trading software, we decided to open an account with them so that we could see for ourselves. We were not allowed to create an account. We were told that clients in our region could not open accounts with them. This clearly tells us that this broker picks and chooses their clientele – they target novice and untutored traders.
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Issues with Trading Conditions
Since we could not access their trading platform or even client area, we can only go by what Epentomia has advertised on their website about their trading conditions.
The minimum deposit of $500 is much too high. The market average is between $100 and $250, and there are so many legitimately regulated brokers who allow you to open accounts for less than $10.
There is some confusion about the maximum leverage. In their account types section, the broker claims that the maximum leverage is 1:500. But in another part of their website, Epentomia states that their maximum leverage is 1:1000. Either way, the leverage offered by this broker is much too high. It is not only risky but also illegal. The maximum leverage allowed in the UK is 1:30 and in the US is 1:50, to the ratios offered by this broker are illegal.
There are no spreads mentioned, which means that we do not know the real cost of trading.
This lack of clarity clearly points to a scam.
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Promises of Profits
This broker also seems to promise their clients sure profits. From what we can make out, you are promised 100% profits every week for 4 weeks if you invest in any one of their packages.
These promises are all lies, since profits are few and far between in forex trading. Even pro traders can expect to make a profit of 40% to 60% annually. So, such claims are just tactics to attract novice traders who don’t now any better.
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Payment Issues
On their website, the broker claims to offer multiple payment options – Payeer, Perfect Money, Bitcoin, Litecoin and Ethereum. However, in the same breath, the broker states that they accept payments in Bitcoin only.
This clearly tells us that Epentomia is a scammer since it is the scammers that offer only one payment option and that option is always cryptos like Bitcoin. This is because BTC payments are permanent and anonymous; once you have completed your transaction, there is no way to trace your money or get it back.
Conclusion
Epentomia is a scammer and it would be best if all traders avoided doing business with them.
Epentomia
Pros
- None
Cons
- Unregulated and Blacklisted Broker
- Issues with Trading Software
- Issues with Trading Conditions
- Promises of Profits
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.