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Esplanade Market Solutions Review – is it scam or safe?

Esplanade Market Solutions Review  – is esplanade-ms.com scam or good forex broker?

RATING: 2 / 0 REVIEWS
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 Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Fix $100 0.01 lot 1:1000 2 pips
Standard $100 0.01 lot 1:1000 From 1.2 pips, floating
ECN $100 0.01 lot 1:1000 From 0.0 pips, floating
VIP $100 000 0.01 lot 1:100 From 0.0 pips, floating

Esplanade Market Solutions has four types of live trading accounts, plus a free demo account and a money management account – risk allocation & money management (RAMM).

 

The broker's portfolio includes around 50 forex pairs, spot metals and CFDs on indices and stocks, as well as oil.

 

 

The Company. Security of Funds

 

Company Country Regulation
Esplanade Market Solutions Ltd. SVG No

 

Esplanade Market Solutions is based in the offshore zone Saint Vincent and the Grenadines and says it is regulated by the Vanuatu Financial Services Commission (VFSC). We are still wondering what is the logic to be registered on a Caribbean island and be regulated on a Pacific island, literally oceans apart, but Esplanade Market Solutions is not the first and surely won't be the last offshore broker to do so. Either way, the Vanuatu regulation is not the most serious of regulations, despite the pledges on its site that it is overhauling the legislative framework which will enhance both the reputation of Vanuatu as an international finance center and investor confidence in the jurisdiction.

 

As always we advise that unregulated offshore brokers are avoided at all costs. They are often fraudulent, but even if they are not, the level of client fund protection is much lower than with regulated ones. Besides, the properly supervised brokers abide by strict requirements about employee qualifications and capital adequacy, among other things. Overall, the brokers regulated by UK's FCA or the Australian Securities and Investment Commission (ASIC) are among the most reliable.

 

 

Trading platform

 

Esplanade Market Solutions offers the most popular trading platform for forex trading – MetaTrader 4 (MT4). MT4 is the most frequently offered trading platform and is popular both among brokers and traders. It is stable and reliable, has many functions, offers API connectivity, supports PAMM and MAMM functionality and has a wide selection of technical analysis and charting tools. It is also user-friendly and supports Expert Advisors and automated trading.

 

 

Methods of payment

 

Esplanade Market Solutions clients can deposit funds through a bank transfer and with credit and debit cards. Other options include the electronic wallets Qiwi and Yandex Money.

 

 

Conclusion

 

Esplanade Market Solutions is yet another run-of-the-mill offshore forex brokers with dubious regulation. The only interesting thing about it is the very high leverage offered. But we have often noted that this could be very risky and could lead to significant losses for the clients and the jury is out on whether this should be considered an advantage.

 

Also, at first sight the spreads seem to be tight, but there is no information whether the broker charges additional commissions, so in the end of the day, trading with it could turn out not to be so lucrative.

Pros Cons
MT4 High leverage
  Offshore

 

 

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Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Traders` reviews for Esplanade Market Solutions

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