EvgMarkets Review evgmarkets.net Scam? – Forex Broker Reviews, Trading Platform Reviews

EvgMarkets Review: Is evgmarkets.net a Legitimate Forex Broker or a Scam?

In the world of foreign exchange trading, it is crucial to carefully evaluate the various brokers available to ensure that you are working with a reliable and trustworthy partner. With the market flooded with numerous options, it can be overwhelming to know which ones to trust. In this review, we will be taking a close look at EvgMarkets, a relatively new player in the market. Our goal is to provide an unbiased assessment of their services, trading platform, and overall legitimacy.

First and foremost, it is essential to understand that EvgMarkets is a relatively new broker, founded in 2019. With a small team of about 20 employees, the company is still in its early stages of development. While this might raise some red flags, we will dig deeper to uncover more information.

The first thing we noticed when exploring EvgMarkets’ website is that it is quite basic and unprofessional. The design is outdated, and the navigation is not user-friendly. The lack of clear and concise information about the company’s history, mission, and goals also raises concerns. When trying to access the “About Us” page, we were met with a 404 error, which further adds to the question of legitimacy.

Moving on to the trading platform, EvgMarkets offers a mix of desktop and mobile applications, as well as a web-based platform. While the layout is somewhat confusing, the range of features and tools is decent. They offer over 50 pairs of currency pairs, with a leverage of up to 1:500. The platform also includes technical analysis tools, real-time market data, and a news feed.

However, when it comes to the essential details, EvgMarkets is somewhat unclear. There is no clear information on trading fees, slippage, and commission. These are crucial components for understanding the costs involved in trading with this broker. Moreover, the lack of transparency regarding the company’s ownership and regulation status is a significant red flag.

In terms of regulation, EvgMarkets claims to be regulated by the IFSC (International Financial Services Commission). While this may sound impressive, a quick search reveals that the IFSC is not a widely recognized or reputable regulatory body. In fact, the IFSC’s credibility is often questioned by the Forex community, and several warnings have been issued regarding their legitimacy.

Another concern is the lack of security measures in place