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eMarketsTrade Review - is it scam or safe?

eMarketsTrade Review - Is emarketstrade.com scam or good forex broker?

RATING: 1 / 21 REVIEWS eMarketsTrade
eMarketsTrade is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit  Maximum leverage Spread
Bronze $2,500 Unspecified Around 1.5%
Silver $5,000 Unspecified Around 1.5%
Gold $10,000 Unspecified Around 1.5%
Platinum $50,000 Unspecified Around 1.5%
Diamond $100,000 Unspecified Around 1.5%
Satoshi Mogul $250,000 Unspecified Around 1.5%

 

eMarketsTrade is a broker, which offers access to cryptocurrencies via CFDs. That being said, their entire presentation is far from ideal, with a lot of missing information, as you can see from the table above.

 

eMarketsTrade Advantages

 

Charting by TradingView

The major benefit of trading with eMarketsTrade will have to be the top-tier charting in their web-based platform. TradingView is a third party service, which is also used by other brokers, exchanges and traders who simply like the website. The rest of the platform feels standard, with the news feed on the right side being a bit more interesting. Here is a preview:

 


The platform at eMarketsTrade (click to zoom)

 

While this is nice, it is still a web based trading platform and some trading veterans prefer having a desktop solution. One of the best ones on the market, which has proven itself over the course of many years is MetaTrader4. It offers a lot of additional functionality and equally as good (if not better) charting.

 

>>Find a broker, offering MT4<<

 

eMarketsTrade Disadvantages

 

Offshore company, no regulation

eMarketsTrade only provides generic terms, when describing itself. The “Terms and conditions” reveal it is a company based on the British Virgin Islands, which goes by the name of SAS Global Trading Limited. They do not mentioned being regulated by any appropriate financial watchdog. 

 

Only 12 cryptocurrency pairs

The trading platform, provided by eMarketsTrade is something which we have seen at other brokers, but this one has deliberately chosen to only offer cryptocurrencies. This is a strange choice, but the worse part is that there are only twelve trading pairs, featuring the major coins, USD and EUR.

 

Not clear on the nature of CFDs

Given a few factors (our previous experience with this trading platform and the payment methods) we believe this to be a CFD broker. However the company mentions this deep within the terms and conditions. An unsophisticated client may easily think this is a cryptocurrency exchange, where he can buy the actual coins. For a full explanation on the difference between the two check the link below

 

>>CFD trading vs Exchanges<<

 

Spread is around 1.5%

The costs of trading at eMarketsTrade are relatively high. The spread for Bitcoin trading was around $120, when the most popular cryptocurrency was trading around 8100-8200. This isn’t competitive to some of the other CFD providers, whose spreads may vary, but are generally around $30-$50 for BTC/USD.

 

 

Trading conditions not specified

eMarketsTrade does a very poor job at presenting their offer. While the instrument list is rather short, they haven’t bothered to fully display it on the website. This means one has no idea what the costs of trading would be, not which coins exactly are supported, nor the leverage ratio.

 

No demo accounts

For those of you who are new to trading, demo accounts are basically “paper money trading”. Most forex brokers provide them, as way to introduce clients to their service, without the need for an investment. This is not one of them.

 

Only traditional payment methods

eMarketsTrade only accepts Bank Transfers and Credit Cards payments. This isn’t a major issue for us (unlike some of the ones mentioned above), but seems a bit odd given how the company offers the newest hot asset class in the world.

 

Conclusion

 

eMarketsTrade is an unregulated cryptocurrency CFD broker. The company does relatively little to specify the exact nature of their offer. This may be viewed as an oversight, or a deliberately misleading strategy. Maybe they aspire to attract unsophisticated would be investors in cryptocurrencies. 

 

Still the biggest issue with this company is the fact they aren’t under any regulation for financial markets intermediaries. This simply means, they are likely to be a scam. The legitimate brokers, offering cryptocurrency CFDs are alawys under some form of oversight. This is usually done by a special government agency, like the Financial Conduct Authority (FCA) in the UK. For more information and a list of trusted crypto forex brokers, check the link below.

 

>>Regulated Bitcoin CFD providers<<

 

Here is a summary of eMarketsTrade:

 

Pros Cons
Charting by TradingView Offshore company, no regulation
  Only 12 cryptocurrency pairs
  Not clear on the nature of CFDs
  Spread is around 1.5%
  Trading conditions not specified
  No demo accounts
  Only traditional payment methods

 

 

Latest news about eMarketsTrade
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Traders` reviews for eMarketsTrade

Spread

Pros

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Slippage

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Requotes

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Price feed

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Platform

Pros

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Deposit/Withdraw

Pros

Cons

 

 

Customer service

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Summary

Pros

Cons

 

 

Can't log in

Can't log in and make a withdrawal.

Mzwakhe 03/06/2019

eMarketsTrade - Total Scam

eMarketstrade is a total scam. Takes all your money to trade on your behalf, never makes profit to the point where you can withdraw. Demands more and more money, logs onto your PC and applies for loans on your name to "recover your lost money".

Anyone interested in doing business with them - rather contact me first and I will supply you with all of the facts you need to change your mind. If you have dealt with them, I have initiated legal action against them. My story can either help you or yours can strengthen my case.

Johan

Johan Du Preez 01/20/2019

E Markets Tradeare scamming thieves

eMarketsTrade.com told me lies when I first contacted them about trading. They robbed money from my bank account and credit card and put in serious debt. Then they continued to blackmail me into giving them more money to get my investment back.

When they get all the money they can, they say "thats it", now we have taken your money we have no responsibility over how we conduct ourselves. We offer no customer support, we take no care over how our account managers operate. We provide no evidence that we have simply not deposited investors funds into our own accounts. They have not got a complaints or or appeals department. In my opinion, they are just a scam company relying on a disclaimer only sent in emails after investments have been made. They will not state to whom they answer for their trading practices.

They do not care a dam about how they treat people as long as they can steal them of their money.

John Purcell 12/12/2018

Scammed of R200000

I have been scammed of R200000 from this company. Im trying to email and contact them but no response. A man contacted me on +442037698550 on the 8/11/2018 saying he would reimburse my money as it was just idle in my account. Now when I try to contact them the email does not exist. Contact number blocked

Dolores Bezuidenhout 11/20/2018

Absolute Scam

I saw an article about the company a few months back which made it look legit. Didn't find any reviews outside of a few economy sites, but I got curious.

So I registered on their site, wanting to look at their offer. I did not immediately give them any credit card or bank account info when registering, but I made the mistake of leaving my phone number.

Oh boy was that a mistake - IMMEDIATELY after registering my phone rang (like before I could even confirm my e-mail address). A woman in very broken German (I'm German speaking) kept pressuring me for bank info. I told her I just wanted to look at the site on my own and she just would not hang up. I put my phone down and read through the scarce info on their site and got more and more suspicious. I picked the phone back up, told her I changed my mind and she kept asking me why. Would not take no for an answer and after telling her "personal finances" she wanted me to proof it to her by showing her my bank account. I laughed, told her that this is no way to treat a customer and hung up.

During the next days/weeks I kept getting calls and emails. They acted like I never said I don't want to invest every time and when I told them again and again they kept pressing me for a "legitimate reason" why I wouldn't want to get rich with their fine enterprise. Especially hilarious as the German they spoke was on the level of a child at best (pro tip - you want to scam someone, at least keep your kids from screaming in the background when calling them).

Well this went on for a few weeks and then sortof just stopped. The reason I am writing this today is because I am sick, can barely sleep and they called me again in the morning using a new number I haven't blocked yet (it was... irritating to say the least).

Please - stay away from those scammers. I am very glad they never got any payment info from me and that I never invested. You might as well burn your money.

Gerald 11/02/2018

eMarketstrade scam alert

eMarketstrade steels your money - they tell you that they trade for you and that the lost the money due to the market that went down but they do not have any proof of the trades. They also keep on demanding more money to "recover" your lost money and force you to take out loans to keep finding them or you will "lose" all your funds which you already have.

They are rude, and refuse to speak to you. Even block you so you can't contact them

Johan Du Preez 10/28/2018

eMarketsTrade - total fraud

This company is a scam to get your money. After my initial £250 registration fee ( which I was told was all I need to trade, they kept on asking me for more money ( initially £10,000, then reducing to £5,000 and finally to minimum of £2000 which they asked me to get on my credit card. My credit card advisers immediately stopped me from withdrawing any money and asked me to stop dealing with these people. Michael chase or Ford as he called himself was supposed to be my contact at eMarkets Trade who would show me how to trade ( especially bitcoin or cryptocurrency) and despite telling him that I was no longer interested , he kept on phoning me daily and emailed me also offering his companies services. I want my £250 returned and my account closed. Stay away from this company at all costs.

chandrakant thanki 10/02/2018

eMarketsTrade fraud

emarketstrade.com are on the FSMA list of fraudulent trading companies.

Anthony Fisher 09/05/2018

eMarketTrade unlicensed scam

I started with a small amount of €. Then the phone calls started "if you add this? Amount we will get you? Amount" witch I did and then they asked for more and more for ICO investment. They even asked to look in my bank account and then said you can afford to add more. Then all they gave me was bad information and lost the lot without investment in ICO. Next I get a call from recovery asking if you add? We will recover your loss. we will only place 12 percent to get your money back, so I did and the next day calls started for more money and to also look in my bank account,. This kept up for days until they believed I would put no more. They gave me advice and instead of 12 percent the lot was gone again at this time I was down high double figure thousands € and credit card max to pay. My advice to anyone thinking of investing in this company is don't and don't answer the phone as I had to threaten them with this to stop them asking for more money. I have had people email me with exactly same happened to them. Only give money to Emarketstraders unlicensed scam if you don’t want to see it again.
Anthony Fisher

Anthony Fisher 08/29/2018

E markettrader

Not sure whether it is a scam
I tried to contact them with no success
Yesterday their screen showed my account to be £3000 in credit
Today I cannot access it???????

S jones 08/24/2018

Emarketstrade don't touch them what a scam

I was asked for £2500 more after my initial
£250. I was told that it was what was needed to trade successfully.
Promised the earth. Over night and before any trade,I requested to withdraw my money as I had changed my mind.Michael Chase my contact told me I couldn't withdraw until I has made a trade...I was New to this long story short he lost me 2K and I understand that I didn't have to make a trade and should have waited my withdrawal.still awaiting salvaged balance to be refunded

Pauline Goh 08/14/2018

Emarketstrade are totaly scammers

I was scammed between june/july 2018 for £9000 pounds
do not trust this company or you will lose they build your confidence in them promising to make lot money .they just scam you..


rob steen 08/13/2018

I am an as*hole

I am an asshole for getting into this company (or whatever they are). These guys are cowboys, very reckless with other peoples money. Despite stating that I want low/medium risk long term investments eMarketsTrade invested 60% High Risk and 40% Medium Risk. Woke up one morning to find my deposits wiped out. Yet they ask for more! STAY AWAY ! ! ! ! !

Asshole 08/07/2018

Scam scam scam!!!!!

Watch out for AND STAY CLEAR of names like NICK FISCHER (apparent "account manager") and TONY COOPER (apparent "Head of Recovery Department")....!!!!

They're all the same...GAMBLERS AND STEALERS OF YOUR HARD EARNED MONEY.

Anonymous 07/25/2018

Don't be misled!!!!

Do not trust these guys. They are very cunning. They will persuade you to put in more and more money. You will lose all of it. I did. Twice. Be warned.

Anonymous 07/24/2018

I have an account with eMarketsTrade.com

my account is now block and can't do any withdrawal or event trading.
I need help a seek for advice.
Thanks.

Roslee Bni Ahmad 07/23/2018

Beware! eMarketsTrade is a scam!

After they took my £250, an agent kept calling to tutor me how to trade but would not continue and say “let me check what I can do for uou”. He asked me for €3,000 for him to carry on tutoring how to trade. I was fed up because in the first place, why disnt he tell me the minimum is €3,000 in order to work with me. He said its gonna be difficult to start with £250. I asked for a refund after a week. Someone emailed me to say I can log in and withdraw from my account but wheb I logged in, my password and username is incorrect. I tried again and my account got locked. I am sure about my password and Im sure they did something to it.

Love Celadena 06/25/2018

Pure Scam

This company is a pure SCAM. They make sure you don't make profits. And even when you do they do not accept to withdraw the money. Avoid contact with them at any cost.

Mickael Bouffaut 06/11/2018

eMarketsTrade - Scammers

I was initially called to make a deposit of $250. Then a manager called me to tell me my best tading option is $5000 because I then have a manager and dont pay any fees. Well I was aadvised when I was in profit to invest more putting me at very high risk. Bitcoin went down and so did all my money. I am an inexperienced altcoin investor and had no clue. I got not help and was then advised to put in more money so that he could get my lost funds back for me. To get some safety net so that I dont lose. I knew I had been scammed and there was no way I would part with another cent. I told him no and needless to say I have not heard from them. Do not go near these people.very suspicious. I have been burnt

Lara Lolla 05/24/2018

Withdrawal

This company it is difficult to withdraw my $250 they want lot of paper work and want me to put more money but i simply want to withdraw the money 250 i just cant

Dumisani 05/09/2018

Refunds pending

I had a horrible live experience with their arrogant and greedy brokers who act like they are professionals but not.They promised me that their assistance would make me money in no time so that I can be able to live on trading and to help me pay off my debts since I am unemployed.I regret ever joining this company with the money I borrowed and are unable to pay it off all back.Everytime you request a withdrawal it takes forever to be approved.Scammers like John Wilson,Tony Cooper and Ronald Parkers should becareful in making a deal with these men.I had a horrible experience of my life.My funds are still pending even now.Please assist New to get the little left of my investment.

Olive Keneilwe Sekano 05/02/2018
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