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Evolve Markets Review - Is it scam or safe?

Evolve Markets Review - is evolve.markets scam or good forex broker?

RATING: 2 / 2 REVIEWS Evolve Markets
Evolve Markets is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts & Conditions

 

Trading Account  Minimum deposit Min. trade size Maximum leverage Spreads
Classic none 0.01 1:500 1.0 pips
Pro none 0.01 1:500 From 0.0 pips + 7000 BIT/lot*

 

*One bitcoin bit equals 0.000001 of a BTC, so 7000 bitcoin bit are currently around $7,70.

 

Evolve Markets offers its clients two account types: Classic and Pro. The Classic account has the commission built in the spread whereas the Pro has a tighter spread but charges commission.  Both accounts are Bitcoin denominated, offer leverage up to 1:500 and the opportunity to trade micro lots on the MetaTrader 4 platform.

 

In order to open an account with this broker, one simply has to provide a valid email address to register and a confirmed Bitcoin transaction to enable trading. Evolve Markets does not require any kind of personal information. Therefore, it also accepts US clients.

 

In fact, the variable spreads offered by this broker are above average – typical ones being around 1.6 pips on EUR/USD. In comparison, another offshore broker, FxChoice, offers average spreads of 1.2 pips on its commission-free accounts.  For further information and comparison, you may look up the real-time spreads of 15 leading brokers here.

 

As regards leverage, Evolve Markets offers levels up to 1:500 (for forex trading), which is considered as a high ratio. Nonetheless, many brokers offer leverage of 1:500 of higher. Maximum leverage levels for trading in crypto pairs is up to 1:5. Keep in mind, however, that using higher leverage levels involves greater risk of losses.

 

The Company. Security of Funds

 

Company Country Regulation
Evolve Markets Ltd. SVG N/A

 

Decentralized cryptocurrency Bitcoin revolutionized the markets since its launch in 2009. Evolve Markets saw a market niche and mixed two flourishing businesses, offering Bitcoin-based trading services in forex, CFDs and cryptocurrency pairs.

 

Evolve Markets is an offshore broker founded in 2016 that claims to utilize a pure Straight Through Processing (STP) model on the popular MT4 platform.

 

The company behind the brand is Evolve Markets Ltd., a privately owned International Business Company (IBC) in Saint Vincent and the Grenadines. SVG is a popular offshore forex destination due to the fast and inexpensive registration procedure and the liberal control over brokerage firms.

 

IBCs are not obliged to meet capital adequacy requirements, to keep client money in segregated accounts, nor to arrange a compensation scheme in the event of insolvency.  Evolve Markets say they are specialized in working with Bitcoin and use a proprietary hardware and software solution to keep their own assets and clients’ funds safe, however one cannot tell whether this is true and there is no regulatory body overseeing this broker’s activity.

 

To cut things short, trading with an offshore broker is a risky business and we generally advise traders to invest their money elsewhere. There are a number of reputable and well-regulated brokerages licensed in UK, Cyprus, or Australia for instance, where traders have certain level of protection and financial watchdogs apply strict requirements to financial providers.

 

Trading Platform

 

Evolve Markets offers its clients the most popular software in the forex industry - MetaTrader 4 (MT4), desktop, web and mobile versions available.

 

Evolve Markets’ web-based MT4. Click to enlarge.

 

The MT4 is a perfectly equipped trading terminal that allows users to trade in the financial markets. It provides the necessary tools and resources to analyze price dynamics of financial instruments, make the trade transactions, create and use automated trading programs (Expert Advisors).

 

Methods of Payment

 

Payment methods with Evolve Markets are limited to Bitcoin. Deposits are processed to your trading account once they reach 1 confirmation in the blockchain (usually within 10 Minutes). Withdrawing your Bitcoins is free – the broker covers the fees associated with the blockchain transactions.

 

The minimum withdrawal amount is 0.01 Bitcoins.

 

Conclusion

 

Evolve Markets is a young offshore broker with innovative approach. It provides Bitcoin-based online trading services in forex, CFDs and cryptocurrencies on the MT4 platform. However it is not regulated and payment methods are limited. Here are, in a nutshell, the pros and cons of Evolve Markets:

 

Pros Cons
Accepts US clients Not regulated and recently launched
MT4 available, STP execution No choice of trading platforms
Cryptocurrency pairs available for trade Payment methods limited to bitcoin
High leverage levels available     
No minimum initial deposit, no Identity verification required  

 

Latest news about Evolve Markets
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Traders` reviews for Evolve Markets

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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suddent drop in with BTCUSD pair

Hi,
this morning, I woke up and checked my trades on the mt4 platform. The price of BTCUSD went from 8072.794 to 471.116. It whipped out all my demo account. By chance, it was only a demo account! This morning, the graph shows no drop as if nothing had happened. ;( So I do not thrust them anymore.

rene 11/23/2017

Evolve Markets: Great for forex / BTC deposit

FX trading here is excellent. If you want to trade fx with BTC deposit this is the best i have used sofar. Execution has very fast and accurate . I do most of my btc trading at exchanges but BTCUSD is tradable here.

Chiss 05/23/2017
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