EU Finance Review: Stay Away from This Fraudulent Broker
At first glance, you may be surprised by how the EU Finance web page looks sleek. However, this company fails in many critical areas. Varying from regulatory problems to risky and expensive trading conditions, this broker is a horrible place for anyone’s investments.
Certainly, the developers and designers did a fantastic job. In addition, there are lengthy parts carefully written in the legal docs of this alleged business. Keep reading this EU Finance review to find more details about this broker scam.
|Leverage||from 1:200 to 1:400|
|Headquarters||2B John Islip Street, Westminster, London, SW1P 4PX|
|Platforms||EU Finance Web Trader|
License and Regulations of EU Finance
What is the first alarming thing here? It’s by all means the broker’s regulatory status. The business has a UK address. So, anyone would expect that they have a license from the FCA (financial services regulator of the United Kingdom).
Notably, all legit brokers need to be authorized by them in order to operate in that jurisdiction. If you look through their database, you won’t find a name or address.
Thus, this is the first big and obvious indication that we are dealing with an offshore broker.
Similarly, being registered in an offshore zone such as St. Vincent and the Grenadines, for instance, suggests that a broker does not have to obey the strict rules posed by any regulatory body.
Note: It wouldn’t be wise to lose all your funds to scammers. By signing up and funding an unregulated broker, you are indirectly tossing your money away for a worthless and illegal cause. Remember this at all times.
Trading Platform Available at EU Finance
EU Finance presents trading software named EU Finance Web Trader. Nevertheless, apart from some basic assertions about how easy, sleek, and intuitive the venue is, no page or section on the website goes into further depth about what that means.
Besides, there was no opportunity to open a demo account to test the software. That is particularly strange and is usually the hallmark of a fraudster who is reluctant to help you.
Fact: Always check if the broker supports MT4 or MT5. Aside from its superior PC version, MT5 is also available as web-trading software. You can access it from any browser. There is even a mobile app for the venue, available for Android devices.
EU Finance Account Types
It’s time to discuss the trading accounts this broker has to offer. These accounts are as follows:
- Micro account – $250
- Standard account – $5,000
- Premium account – $25,000
What is the major disparity? Well, it is a minimum lot size that increases with investment. In addition, the leverage goes from 1:200 to 1:400, and the bonuses range from 25-50%.
EU Finance Welcome Bonus
There’s not much information concerning the welcome bonus. EU Finance offers various bonuses. However, keep in mind that bonuses are banned in the UK and the EU.
In addition to all of this, there’s an odd requirement for withdrawing. It’s nearly impossible to withdraw your money. This is something to remember.
Deposit and Withdrawal Methods
It’s vital to know that there’s a $50 fee for bank transfers and a $10 processing fee. This is way too much and a solid indicator that the broker is trying to rob you. Aside from that, a 10% fee is applied for deposits that have not acquired more than 200x in turnover.
There is also a 10% monthly inactivity fee. This applies to all inactive accounts that have been inactive for more than six months. These types of multiple and limiting fees point to an association that is trying to steal your money through executive tricks.
Lastly, the broker allegedly supports the following withdrawal options:
- Bank cards
- Wire transfer
Offshore Brokers Fraudulent Tactics
Scammy companies employ various tactics to scam you. You will witness withdrawal issues almost always.
Similarly, you will undergo strange fees. You must keep in mind that there are excessive fees, often exceeding 20%. Sometimes those are called withdrawal processing fees.
Also, there’s practically always a profit fee. Bogus websites want you to pay these fees in advance.
There are also irrational guaranteed returns. This is another famous deceit method that you should be aware of. Fraudsters will always promise you huge guaranteed returns. Trading leveraged instruments is a risky move. Any broker scam will try to convince you that your returns are 100% guaranteed.
Please try to work with brokers that have a license and are regulated. This is, by all means, critical.
EU Finance Summary
This broker doesn’t have any regulations, and their trading software is fake. What’s more, the address is fake as well. The payment processor has multiple flaws in regard to enormous fees and more. Also, there are many complaints and negative reviews about this broker.
You should verify the data of all the firms carefully. Do this before you complete any transaction. Last but certainly not least, we hope that our EU Finance review was advantageous.
FAQs About EU Finance Broker
Is EU Finance Regulated?
The EU Finance broker doesn't have any license. They are just another unregulated investment scam.
What is The Minimum Deposit for EU Finance?
The minimum deposit amount that the EU Finance broker shows on their web page is $250.
Is EU Finance a Trustworthy Broker?
This is not regulated or a reliable broker. Therefore you should never trust it with your money!