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EvolutionBrokers Review - is it scam or safe?

EvolutionBrokers Review - is evolutionbrokers.com scam or good forex broker?

RATING: 1 / 5 REVIEWS EvolutionBrokers
EvolutionBrokers is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit  Max. leverage  Spread
Beginner  $500 1:1000 From 3 Pips
Standard  $1 000  1:1000 From 2 Pips
Professional  $5 000 1:500 From 1.5 Pips

 

Clients of EvolutionBrokers can choose between the above account types and are provided with a wide range of trading products on the renown MetAtrader 5 platform. Besides, the broker promises a lot of perks and promotions, such as rebates, bonuses, risk –free trades, but the question is, is it safe to invest with it? Make sure you read this review before signing up with EvolutionBrokers.

 

 

EvolutionBrokers Advantages

 

Trading on MT5

As we already mentioned, EvolutionBrokers supports the MT5 platform. The charting of both MT5 and its predecessor, the MT4, are some of the best in the business, the software is light on the hardware and there are mobile and web versions also available. Besides, the MT5 also supports Expert Advisors for automated trading and custom technical indicators, which is done via the proprietary coding environment. 

 

On top of that, the MetaTrader 5 enables traders to execute trades on different financial markets (including stock markets) through a single account.

 

 

>> Looking for a better MT5 broker? <<

 

 

Solid choice of crypto CFDs, various pairings

Clients of EvolutionBrokers are able to trade in many forex pairs, as well as various CFDs. The latter group includes many asset classes – indices, commodities, stocks, and cryptocurrencies. Actually, EvolutionBrokers offers more than 40 pairs with digital assets like Bitcoin, so the crypto enthusiasts will be content.

 

Yet, the solid choice of digital assets means nothing is the broker is not reliable. As EvolutionBrokers is not properly regulated, we suggest that you select a broker from the below link.

 

 

>> Licensed brokers offering Bitcoin CFDs <<

 

 

EvolutionBrokers Disadvantages

 

Chaotic corporate info, light-touch regulation

The corporate situation of EvolutionBrokers seems a bit chaotic. The broker appears to be based in the UK, considering the contact phone numbers announced on its website. However, it is not licensed by the Financial Conduct Authority (FCA). Instead, the company behind EvolutionBrokers, Maximus Global Marketing LTD, is registered in Belize, a popular offshore zone. On the other hand, the broker’s customer support is allegedly in Hong Kong, and payment services are provided in the Czech Republic.

 

 

Brokers registered in Belize have to meet certain capital adequacy requirements (of a minimum of $500,000) and to keep clients’ funds in segregated accounts, but don’t have to report transactions, nor participate in compensation schemes. The latter means that clients of offshore brokers basically have no protection in case something goes wrong - none of these companies is obliged to arrange a compensation scheme in the event of insolvency. That is why we advise traders to avoid offshore brokers as a genera rule.

 

FinaCom warning

Another worrisome fact regarding EvolutionBrokers is that the Financial Commission (FinaCom) has added it to its warning List. FinaCom is an independent external dispute resolution (EDR) authority based in Hong Kong, whose members are forex, binary option brokers, and independent service providers (ISPs).

 

The companies on FinaCom’s alert list could be involved in Ponzi scheme, pyramid scheme, fraudulent or unlicensed offering, theft or misappropriation of funds or other fraudulent conduct

 

Wide Spreads, high initial deposit

In order to become a client of EvolutionBrokers, one has to deposit at least $500. This may not seem like that high of an entry barrier to some clients, but most brokers require less as a start, including companies which are licensed and reputable.  On top of that, the cost of trading with this broker does not seem very attractive. The spreads on the most basic accounts start out at 3 pips on EUR/USD, whicle most brokers offer spreads at least two times lower than this.

 

 

>>Compare the spreads of some top brokers in real time <<

 

 

Conclusion

 

EvolutionBrokers is an MT5 broker that offers wide range of financial intruments for trade. Nontheless, the cost of trading with this broker seems a bit high, and what is worse, it is not regulated by a reputable financial agency, so its credibility is a bit questionable. All the more so, considering the fact that FinaCom has included EvolutionBrokers in its warning list.

 

We urge traders to deal only with brokers regulated by prestigious regulatory agencies, such as the FCA in the UK or CySec in Cyprus, which require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

 

 

>> Looking for a CySEC-regulated broker? <<

 

 

To sum up the weak and strong sides of EvolutionBrokers:

 

Pros  
Supports the MT Cons
Solid choice of crypto CFDs, various pairing Chaotic corporate info, light-touch regulation
  FinaCom warning
  Wide Spreads, high initial deposit

 

Latest news about EvolutionBrokers
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Traders` reviews for EvolutionBrokers

Spread

Pros

Cons

 

 

Slippage

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Requotes

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Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Scam - Be aware

Untrustable albanian operations.

Don't trade nor do business with them. They will never pay you if you anticipate them one cent....

SCAM SCAM SCAM.

Mike 07/22/2019

I lost 38,000usd

I lost 38,000 from EvolutionBrokers
brokers was trade for me Some times me too but some wrong Disition from brokers I lost thay told me thay will recover but thay are not replying my email

Shyfur ali vaishyam veettil 04/09/2019

Just know this company means high risk

When I started trading with them I hardly gained any money. After six months of trading I tried to withdraw my investment of € 5000.00. However, my request was concelled and I was told to speak to my account manager. When I asked them who is my account manager they didn't answer. It appears the company is a big scam. They are now registered in St. Vincent and the Granadines which is worse than Belize. Just bear in mind any company that is recognized by USA authorities for trading in the USA is a fishy company. Do yourself a favour and they away from these people.

Elisangela Bentrup 04/04/2019

scam

Hi.I have been scammed by evolution broker.i have been trading with them since 5 months.i had 5000euro in my account.when i tried to withdraw money they cancelled my request and took all my money and nobody is giving me answer now.
pleae don,t open account with them

yasir sufyan 03/28/2019

Good broker for scalpers

I use a scalping EA that I have developed in MQL5. I have had accounts suspended in many brokers sighting all sorts of bs. I tried Evolution Brokers based on an advise from a friend who said they accept all EAs and to my supersize despite being unregulated their service was great. good support, huge leverage and fast withdrawal. Only problem with them is the spread is significantly wider than average

scalper hans 02/21/2019
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