There are many unregulated, anonymous brokers out there, and Esmart Invest is just one of them. We take pride in our work on uncovering trading scams and warning investors of such.
Therefore, make sure to read our detailed Esmart Invest review. It’s the best way to protect your money and find a solution to recover it in case of issues.
Esmart Invest cannot brag about transparency. In fact, the company is entirely anonymous, which is a red flag in itself. If you have no information about regulation, legal jurisdiction, ownership, or even Esmart Invest contact details, you know that chances of getting your money back are slim to none.
We checked if the broker is regulated by searching through major databases such as FCA, ASIC, BaFin, and CONSOB. We even tried some offshore authorities. Yet, our search yielded no results.
Practically, we resolved the major question if Esmart Invest is legit. The short answer is no. This broker operates illegally and should be avoided by all means.
There are a lot of tricks that scammers use to get money out of unsuspecting victims. However, most scams are essentially the same at the core. Fraudsters publish fake ads luring victims to click. And once you do, all the details related to your Google or social media account, such as phone and email, are transferred to a scam broker like Spear GPT.
Then, broker employees are going to constantly call and send WhatsApp messages, insisting that you ought to start trading right away. They might even promise bonuses and various promotions to get you onboard.
Before we move on, we want to advise you to avoid ads that promise quick money. If something sounds too good to be true, it usually is.
All these are EEA zone countries where ESMA sets the main rules through MiFID directives. According to one, the leverage for retail traders must be limited to 1:30 for FX pairs. At the same time, our broker here allows 1:100 to 1:400, showing us that it operates without a license.
On the main page, this brokerage company advertises “MT4 for easier trades.” Yet, their account type section only shows WebTrader as a viable option.
Once registered, we gained access to plain browser-based software. It’s no different than the TradingView chart with added indicators. So all that talk about MetaTrader 4 is just a nice lure, so you’d register. Scammers often do it in order to entice victims.
Another bad side of this company is the lack of mobile apps. Esmart Invest login is only possible through a mobile web browser. It takes time, and we all know that milliseconds are crucial when trading CFDs.
Speaking of CFDs, you can trade in the following assets:
This is a common range, and the number of assets is limited to 50 currency pairs and 45 other CFDs, which is quite basic.
You can choose from one of the four accounts, each pricier than the other:
While it’s unbelievable that an unregulated broker would dare to ask for such a high minimum deposit, we see no evidence that suggests otherwise. This company is on the hunt for your money; stay away.
Scammers are usually not keen on approving access to free things when they can pressure you for money on the spot. You can try and contact the Esmart Invest support team and request a risk-free Demo. However, we doubt you’ll get access to it.
As mentioned, the leverage goes up to 1:400, which is exceptionally risky. It’s a tool to increase your buying power and multiply your chances of losing everything. And possibly even more, considering that this brokerage is not under regulatory supervision and not obligated to offer negative balance protection.
The spread starts with 2.8 pips for the Bronze account, which is double the industry standard. Finally, the company advertises no commissions, but we’re not keen on believing them.
The Terms and Conditions are pretty vague regarding Esmart Invest withdrawals. Namely, the firm says that it maintains the right to deduct fees and taxes from your account according to regulations. Since they hold no regulations, they can take any amount voluntarily, which is dangerous.
Further, there’s no list of available payment methods, only a clause indicating that if you use your credit card, you’re limited to one card per account. This is kind of good news since all the transactions made via credit card are subject to a chargeback within up to 540 days.
Yet, we believe that getting your money back will require legal aid, especially after checking online reviews and user experience.
In conclusion, the Esmart Invest broker is unregulated, shady, and not worth your money. However, their story sounds enticing, which is why we already received a number of complaints.
Let us know if you have invested your money and cannot get a withdrawal. Global Fraud Protection has dedicated chargeback experts and CipherTrace crypto analysts who can work with you to resolve the problem. Don’t let scammers keep what’s yours. Book a free consultation today!
Esmart Invest is an unregulated online trading broker you should definitely avoid. If, however, you have already deposited the money, our chargeback experts might be able to help.
The company requires an incredible amount of 12,500 EUR to start trading.
You can trade crypto and other CFDs, but we recommend you find a regulated broker instead.
Esmart Invest is an unregulated online trading broker you should definitely avoid. If, however, you have already deposited the money, our chargeback experts might be able to help.
The company requires an incredible amount of 12,500 EUR to start trading.
You can trade crypto and other CFDs, but we recommend you find a regulated broker instead.
The post Esmart Invest Review: Be Smart, Stay Away From This Forex Broker appeared first on Global Fraud Protection.
