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ECoin Stock Review - is it scam or safe?

ECoin Stock review - Is ecoin-stock.com scam or good forex broker?

RATING: 1 / 0 REVIEWS ECoin Stock
ECoin Stock is an offshore broker. Your money is not safe.

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ECoin Stock claims to be a forex, CFD and binary options broker with a focus on the crypto market. Our research, however shows that it is just an anonymous website with rather limited credibility, so if you are thinking about investing with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Beginner Account $250 n/a n/a
Intermediate Account $1000 n/a n/a
Pro Account $10 000 n/a n/a
Expert Account $50 000 n/a n/a

 

ECoin Stock Advantages:

 

Lots of trading instruments, presumably

 

We are supposed to start our review with the advantages about the broker, but here it is really hard to think of any. Still, as ECoin Stock says to be offering over one hundred crypto CFDs, we will credit them for this. And they also say to be offering lots of forex pairs and even more CFDs on indices, precious metals and energies. In any case here you may also check our list of brokers offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Acceptable minimum deposit requirement

 

You can open a trading account at ECoin Stock with 250 USD and that is fine. 250 USD is the usual amount most brokers require with a staring account. And yet, bear in mind that with some big players like FBS and IG you do not have a minimum deposit requirement at all.

 

ECoin Stock Disadvantages:

 

A virtually anonymous web site, not regulated

 

As we noted ECoin Stock is an anonymous website. We were not able to find, which is the company behind it and there is not even a contact address on their website. And of course the website is not licensed and authorized to provide financial services.

 

Generally, trading with unregulated brokers has always been extremely risky as most often they are involved in scam. Brokers regulated by well respected financial watchdogs such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) on the other hand are completely reliable, because of the strict regulatory regimes they are subject to.

 

For example FCA regulated brokers are even required to participate in a client compensation scheme, in practice insuring your funds for up to 50 000 GBP. Besides, here you may check our list of FCA regulated brokers:

 

 >>FCA Regulated Forex Brokers<< 

 

Trading bonuses with unusual withdraw conditions

 

Be aware that if you accept a trading bonus by ECoin Stock you will have to trade at least 1 standard lot or 100 000 USD for every 5 bonus dollars you have accepted. That means for 100 USD bonus you will have to trade 2 million USD and that might prove challenging even for professional traders. And besides, precisely because trading bonuses are so controversial they has been banned by the regulators in Europe and on many other markets altogether.

 

And besides ECoin Stock says they can impose new fees and change their current fees whenever they wants. See for yourself:

 

 

Skrill not accepted as a payment method

 

ECoin Stock accepts payments with credit cards like VISA and MasterCard, and bank wire, but not e-wallets like Skrill and that is notable, because of the new anti scam policy adopted by the payment company. Since last October Skrill works only with brokers, that can prove they hold a legit license. As we noted ECoin Stock is not a licensed broker.

 

Low payout

 

We are not sure what spreads ECoin Stock offers as a forex broker, but the maximum advertised payout with their binary options is not competitive – just 81%. Bear in mind that a binary options payout is considered good only when it reaches 85% or above. In any case here you may also check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 not available

 

As we were not immediately able to open a demo account with the broker, we were not able to check their web based trading platform.

 

Actually we miss the good old MetaTrade4 – a reliable trading solution, featuring numerous market indicators, advanced charting tools, user friendly interface and in-build customizable trading bots which can help you run automated trading sessions.

 

Besides, as MetaTrader4 has become an industry standard here you may also check our list of brokers supporting it:

 

>>MT4 Brokers<<

 

Conclusion:

 

ECoin Stock is an anonymous website, which most certainly operates as a scam. As always in such cases our strong advise is to trade only with legit broker regulated by respectable institutions such as FCA in the UK, CySEC in Cyprus or ASIC in Australia.

 

Latest news about ECoin Stock
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Traders` reviews for ECoin Stock

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