EURMarkets – Is This a Trusted Investing Platform?

Website URL: https://eurmarkets.com

Founded: 2021

Regulations: Unregulated

Languages: English, Deutsch, Spanish

Deposit Methods: Bank transfer and Credit card

Minimum Deposit: N/A

Free Demo Account: N/A

Number of Assets: N/A

Types of Assets: Forex, CFDs, Crypto, Stock, Commodity, and Metals

Trading Accounts and Conditions

EURMarkets is as sketchy as it can get, with a total mess with uncertain information that is present with a website that is a complete mess. Unless you read through them and invested a couple of minutes of your time, you’ll have a very rough time comprehending what they are trying to say.

Signing up an account with EURMarkets is not that hard, as you are only required to provide a couple of essential information for them to complete the process. They don’t require you to undergo any verification either through e-mail or mobile number, and you can instantly login after you finish signing up.

We tried opening an account from the sign-up link that they have provided on their website, and although we have completed the process, the login area is almost impossible to get through. No matter how many times we try to login with our credentials, double-checking if something is wrongly inputted, we are still encountering an error saying that the credentials that we have entered are incorrect.

By not being able to log in on their platform, we cannot collect more data, especially when it comes to their minimum deposit amount, since there’s nothing explicitly stated on the website on this particular concern. Aside from that, EURMarkets don’t seem to have different accounts since they don’t have information available on their website. It is merely an assumption on our part, but so far, all broker websites that we have covered that provide account tiers lay down all the information on their website; some even go far by adding it on their homepage.

In contrast to other scam and unregulated brokers, EURMarkets has well-organized documentation, and here are all the sections that users can easily access.

• Terms & Conditions
• Cookie Policy
• AML Policy
• Withdrawal Policy
• Investor Compensation
• Client Categorization Policy
• Order Execution Policy
• Complaint Procedure
• Conflict Of Interest Policy
• Safety of Funds
• K.Y.C.
• Privacy Policy
• Risk Disclosure

All of these sections are functioning, aside from the Complaint Procedure, which for some reason returns a 404 error.

EURMarkets – Advantages

Because creating an account and logging in is a hassle, we don’t recommend EURMarkets as a primary or even a secondary platform for trading. Indeed, they are transparent, but we’re still not entirely sure if everything that they have inputted on their documentation is correct. There’s also the hanging issue about their regulation, which we think is very sketchy. Therefore, EURMarkets is not a broker that you should trust, and there’s no clear advantage of using their service.

EURMarkets – Disadvantages

• Unauthorized and Operating Without License

Brokers operating without a license are automatically on our blacklist, and we don’t recommend them to our readers. EURMarkets are similar to scam brokers because they provide suspicious and false claims. According to their website, the platform is operated by Gertexo Ltd., which after simple research returned nothing, no results of licenses from the Financial Conduct Authority (FCA). Not only that, they lied, but they have also claimed something so important that would make any investor believe that they are doing something legitimate.

Brokers with sketchy backgrounds like this are only here to commit fraud and outsmart people, especially those that came into investing without prior knowledge and experience.

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• Absence of Trading Platform

For an online broker to be deemed as responsible and legitimate, they must offer a competitive trading platform for all of their clients to use. It can be either MetaTrader4 or MetaTrader5 since both do spectacular jobs, even if the ones operating are beginners.

EURMarkets claims to have a MetaTrader4 implementation which is an impressive feat, to begin with. However, after we tried clicking on the link they provided, it only returned an error page. It means that even if you have gained access to one account, you’ll never get to use MetaTrader4, and most definitely, they will make their clients use web-based trading platforms that are not that good to use.

• Unusual Spreads

When looking for an online investing platform of any asset type, you should always check about the spreads and leverage that they offer for their account types. While EURMarkets doesn’t have account types that users can choose from before signing up, they have given information about their spreads. 2.2 pips are what they offer, which is a very unusual figure to have. Typical legitimate brokers only provide a 1.0 – 1.5 spread. You can use this as your benchmark or reference when looking for a better platform other than EURMarkets.

• Uncertain and Lack of Vital Information

While it is given that EURMarkets are straightforward with their documentation, they still lack in some departments, especially when it comes to account information. EURMarkets never revealed their minimum account deposit, and for us, this is an obvious red flag. Many scam websites do this, only exposing their minimum deposit amount after a user has created an account.

We can only make speculation since EURMarkets doesn’t allow us to log in on their platform. Most scam brokers set the bar pretty high, with a standard minimum account deposit of $250.

• Limited Payment Solutions

According to EURMarkets’ website, they only offer two ways for funding or withdrawing money from the account; bank transfer and credit card. While both are secure ways to move money around, it is still a lot better for brokers to use many other payment solutions such as cryptocurrency and e-wallets.

PayPal and Neteller have been around for some time, and they are online payment solutions that have many layers of protection, and not only that but transacting through them is a breeze. For users that want convenience and security more than anything else, offering them more payment solutions is the best way to go.

Conclusion

EURMarkets never showed any sign of being a legitimate broker. Their website alone is already sketchy enough because of its unreliable design. What makes us even more confident that they are only scamming people is their regulations and efforts to mask their lies. We don’t recommend EURMarkets, even for veteran investors, because they will only give you headaches rather than profits.

EURMarkets

2.5

User Experience

3.3/10

Payment Options

2.4/10

Security

2.0/10

Support

2.5/10

Reputation

2.2/10

Pros

• None

Cons

• Unauthorized and Operating Without License
• Absence of Trading Platform
• Unusual Spreads
• Uncertain and Lack of Vital Information
• Limited Payment Solutions