Esperio Review: Why You Should Avoid This Offshore Firm
If you first take a look at it, you may consider that Esperio is a legit broker. MT4 and MT5 are available on the website, which appears professional. Furthermore, you may see some legal papers promoting trading conditions.
Regardless, many things point out that this broker is a suspected scam. Keep reading this Esperio review to learn more about the subject.
|Company||OFG Cap. Ltd|
|Address||St. Vincent and the Grenadines|
Esperio Regulation and Funds Security
The corporation behind Esperio is in St. Vincent and the Grenadines. Without a doubt, this is not good at all. This country’s financial regulator largely regulates the banking sector. Keep in mind that it does not follow forex brokers.
There are no laws and constraints in the realm of forex trading. That indicates that brokers registered in St. Vincent and the Grenadines are not bound to satisfy any conditions.
There are no transaction reporting needs either, meaning that funds transferred to such offshore businesses quickly become more or less untraceable.
Not all brokers registered in St. Vincent and the Grenadines are fake. Note that some are regulated brokers that are subdivisions of significant, global brokerages. Those massive organizations often want to avoid the more rigid regulations that exist in the EU, Australia, and the US. As a result, they want to give more generous requirements.
Regardless, their offshore departments are just as steadfast as their parent organization. What if a broker is not part of a global business and is offshore by default? In that case, the possibility of them running some fraud is significant. Because of this, be extra careful with such companies.
Trading Platform Overview
Esperio firm apparently supports MT4 and MT5 platforms. Notably, these are the uncontested leaders in retail Forex trading. These are proven effective, and clients prefer them for their state-of-the-art features. Automated trading, analytical methods, indicators, and many other tools are available.
There are many other advanced tools, too. Nonetheless, you should know that a reputable platform is not enough to ensure that a broker is reliable. Indeed, serious scams are well-funded and can afford to provide advanced software and tools. That is what makes the entire experience look legit.
The offshore middle of brokerage, the absence of a license, and the Ukrainian warning are still the most critical problems. Moreover, Esperio FX broker stays a trading scam, regardless of the cultivated venues they have. So, to fully benefit from MetaTrader, it’s advised to go with licensed brokers.
Fact: Many newly registered broker scams claim they use MT4 and MT5. Never let them convince you that this is factual! Do your research first!
Funding Methods Available at Esperio
This website takes deposits via a Visa or MasterCard. There’s also Mir, FasaPay, PayTrust, PayToday, Piastrix, and HWGC. Also, make sure not to forget Bitcoin and Tether. We can say that this is a pretty wide variety of payment options. All of them are completely legit.
Nevertheless, some of them are not so famous outside of areas such as Eastern Europe, South East Asia, and Africa.
The broker states that it does not charge withdrawal fees. It nonetheless states that you need to pay $50 for every month of inactivity after the third one. This is a high inactivity fee. Most FX brokers would not charge you more than $5-$10, oftentimes even after a long time of no trading activity.
Esperio Offers Bonuses and Promotions
This broker scam offers bonuses to people who start trading with it. In the same way, they come with tricky conditions. Take a look at the bonuses:
- Extra Empower
- Double Empower
- Empower CashBack
- 2% per month – 24% per year
- Double Deal – Alibaba
You may be qualified for a welcome bonus. However, you will not be able to get a penny back. You cannot transfer bonuses, and you cannot withdraw them as well. Since you cannot discern between your cash profit and the prize, this is just a plan to prevent you from doing anything.
How the Scam Is Undertaken
Please do your research before you settle on opening an account with any broker. Even well-trained, skilled investors who use the services of reputable brokers do this.
Many rookie traders can be tricked by misleading websites posing as respected brokers. Scammers will tempt you with an assortment of bogus promises of easy profits. Do not trade with non-regulated brokers, and stay far from easy earnings.
Often, these fraudsters promise profits for a relatively small amount of money. They will urge you to invest even more money. Nevertheless, after you deposit, your cash will be wiped out. You won’t even see a single dollar from these sworn profits.
It will become impossible to reach the minimum amount. Scammers hide behind phony names and locations. So you won’t be able to trace or hold them liable.
This is just another bogus FX broker to stay away from. As you can see from this Esperio review, there are many solid reasons to stay away from this investment scam. This broker uses a misleading trading venue and a made-up location.
Everything about this phony broker is misleading, so do not invest your money here. Let us know if you have any negative interactions with this broker. We can support you in reporting this so-called broker.
FAQs About Esperio Broker
Does Esperio Offer a Demo Account?
Esperio does not offer a demo account. They only have the live trading account available.
What Is The Minimum Deposit at Esperio?
In regard to the minimum deposit amount at Esperio, it is $1. This is a bit odd for a broker scam.
What Instruments Are Available for Trading with Esperio?
With Esperio, you can trade crypto assets, commodities, stocks, metals, and much more.