Thinking of getting into business with eTradingaccount? Here is what you must know about this broker. Carefully read this review to find out if etradingaccount.com is the trading platform you will want to trade with.
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About eTradingaccount Broker
eTradingaccount is an offshore brokerage company with a lot of promises for traders. The broker location cannot be found on the webpage. To begin with, this is a red flag that tells us everything we need to know about eTradingaccount broker.
There is absolute nothing to discuss as the broker has failed to provide specific information on its webpage.
To clarify, in spite the trading instruments eTradingaccount claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
etradingaccount.com: Reasons to Avoid This Broker
Firstly, etradingaccount.com is a platform with no financial authority overseeing its financial services. We can’t place this broker amongst legit brokers, therefore, we advise you trade with licensed brokers.
Secondly, we noticed etradingaccount.com has no demo account for traders. Since traders can’t test the broker on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
Further, the importance of legal documents cannot be de emphasized especially when doing due diligence. Truly, we could not assess the broker’s legal documents as we found it missing on the webpage.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, eTradingaccount leaves us with no information on what fees forex traders will be charged for any withdrawal nor processing days on each withdrawal. Truly, this broker is a scam and its fraudulent schemes are clear.
Minimum Deposit
The broker minimum deposit is not available.
As for the payment methods, there is no information. But, you should not consider making any payment with this broker because it is a risk. So beware!
eTradingaccount Platform
eTradingaccount claims to offer MT5 (Industry standard trading platform) which is quite good for forex trading. However, this offer doesn’t make the broker legit because any scam broker can do the same to lure forex traders.
As for the leverage, the broker mentions nothing. In fact, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
eTradingaccount Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is etradingaccount.com a Reliable Broker?
No, etradingaccount.com does not seem like a reliable broker for traders even though it promises offers that look good to be true. The broker has proved to us that relevant information is not a concern to them.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to find out scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.