The first thing to mention is that at the time of writing this review, EtaLTD was just another inactive domain. If you try and visit their website, you will see that there are critical errors and won’t be able to access it. We suspect this firm is gone for good, and we’d like to assist those who have been defrauded. Read our trusted EtaLTD broker review and find all the relevant information!
But first, we want to invite you to read our Tokens Note, DaxGlobe and EUFM scam broker reviews. Without a doubt, your funds are in danger with them!
Broker Status: Unregulated Scam Broker
Regulated by: Unlicensed Trading Company / No Regulation
Scammers Websites: EtaLTD.io
Operating Status: Active Forex Trading Scam
Blacklisted as a Scam by: FCA / BaFin
Broker Owner: N/A
Headquarters Country: UK
Foundation Year: N/A
Online Trading Platforms: WebTrader
Mobile Trading: Not Available / No Mobile App
Minimum Deposit: $250
Deposit Bonus: Yes
Crypto Asset Trading: Available
CFD Trading Option: Yes, you can trade CFDs
Available Trading Instruments: Forex (FX) / Commodities / Indices / Shares / Cryptocurrencies (Cryptos)
Maximum Leverage: 1:200
Islamic Account: Not Available
Free Demo Account: No, only real trading accounts
Accepts US Clients: US traders are not accepted
Fake Broker Watch Dog’s Verdict: Don’t Invest in This Scam Broker!
EtaLTD Regulation – No Regulatory Oversight
While EtaLTD broker claims to be an FCA-regulated Eta Services Ltd brand, it turns out it’s nothing but a scheme company. Once discovered, the FCA published a warning marking EtaLTD as a clone firm, warning citizens that they are not entitled to any kind of compensation fund.
Furthermore, the Terms and Conditions suggest that the governing law is the law of Estonia. At the same time, this company is related to another scam firm – CommerceWealth Ltd from Saint Vincent and the Grenadines.
What Does it Mean for the EtaLTD Regulation? – EtaLTD License
Since the FCA published a warning on this firm, we’ve figured it’s not actually regulated. This means that anyone involved has no right to ask for a refund from the regulator nor hope for any legal assistance.
All in all, becoming a victim of the EtaLTD trading scam was quite easy.
Scam Warnings Against EtaLTD Broker
Besides the FCA, the German regulator issued a scam warning as well upon receiving numerous EtaLTD complaints.
As mentioned, the FCA (Financial Services Register) marked the broker EtaLTD as a clone firm, while BaFin gave us an insight into the link of EtaLTD Forex broker with Estonia and Saint Vincent and the Grenadines.
According to BaFin, this firm provides unauthorized banking transactions and financial services, and those involved should be very careful.
Where Is EtaLTD Trading Scam Active?
As per our research, EtaLTD scam was mainly active in:
How Does This Scam Broker Contact Victims?
Whether you have already registered with the firm or not, you can be approached via email, phone, social media, and even dating apps. If the firm has your details, they’ll start aggressive marketing via email and phone, giving all kinds of promises.
If, on the other hand, you’ve never signed up with the firm, you can be approached via Facebook, Instagram, even Tinder, or Bumble by a person telling you how EtaLTD changed their life and asking you to invest.
Real EtaLTD Broker Reviews – Avoid This Scam Broker
As suspected, the majority of EtaLTD broker reviews are pointing to the same – the broker disappeared along with the clients’ money. There’s no way to reach account managers or support, and there’s no option to log in and submit withdrawal requests.
Those defrauded are warning others not to fall for the same scam.
EtaLTD Platform Review – Available Trading Software
EtaLTD trading platform is in accordance with its reputation. The company doesn’t offer any reputable software such as MT4 or MT5. Instead, the firm provides a WebTrader that can easily be a white label since the firm is a clone and takes everything from others anyways.
When brokers don’t own a platform, your information is exposed to a third party, decreasing the level of safety.
Furthermore, the leverage is unregulated and goes up to 1:200, making this broker even less desirable.
What Products Does Broker Offer? – Trading Assets
Our review has shown that EtaLTD was offering to invest in 5 major markets, including:
- Currency Pairs (Forex)
- Cryptocurrencies (Cryptos)
EtaLTD’s minimum deposit is rather standard and goes from 250 USD/EUR. However, trading conditions were illegal, along with withdrawal terms.
For example, the firm maintains the right to charge a levy fee to anyone who submits a withdrawal request before reaching 200 in turnover. Yet, it’s not specified 200 of what. If they meant 200 lots, it would be equal to $20 million.
Besides, the EtaLTD bonus was available under the terms that the client has to reach a rollover of the deposit amount plus a bonus 25 times before being granted a payout.
What Can EtaLTD Fraud Victims Do? – Start the Money-Back Process
If you find yourself a victim of the EtaLTD scam, there’s nothing much to think about. You need to file a dispute for a chargeback and get your money back. Since the process is time-limited, you have to act fast while the evidence is still there.
Since this firm is most likely offshore, every second increases the risk of your funds vanishing for good. Contact us immediately to book a FREE consultation, and let’s get your money back now!