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EverPro Trader Review
All you have to do is run a simple search on Google for an online broker and the options you will find will overwhelm you. There are thousands of these that exist and each one will obviously claim to offer you the best services. Does this mean you take their word for it? You could try that, but there is no guarantee that the one you select will actually deliver the services they claim. Moreover, scammers are very active in the trading space, which means you could end up with a fraudulent broker altogether. One way to avoid this is by going through this EverPro Trader review below.
The problem with scam brokers is that sometimes it can be very difficult to identify them as fraudulent because they present a very good and convincing front. Plus, they deliberately add such offerings that people often find hard to resist and it drives them straight into their trap. Are you willing to risk your money in this way? It is probably best to not expose yourself this way because it will only lead to losses. So, how do you avoid it? You do your homework and this means checking out this review for EverPro Trader, if you are considering using their services.
At first glance, you may find EverPro Trader to be just like other brokers and decide to sign up with them. But, when you start doing your homework, you will realize just what the problems with this broker are. Let’s check them out:
No licensing and Regulation
The first thing you need to check in a broker is their licensing and regulation because you don’t want to choose an unregulated and unlicensed platform. These are not subject to any rules and regulations, which means you will be left vulnerable to the whims of the broker. They can come up with any rules they want and cannot be held accountable by anyone.
When you check out EverPro Trader’s website, you will find that they present themselves as a licensed and regulated broker. The regulatory authorities they have mentioned on their website are very impressive because they include the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Financial Services Authority (FSA) in Seychelles and the Cayman Islands Monetary Authority (CIMA).
But, a check of the online registers of these authorities show that EverPro Trader is not regulated anywhere. Moreover, it claims to be owned and operated by the EverPro Trader Group, but another company by the name of Aerarium Limited is mentioned on their website, which is regulated in Seychelles. This belongs to the Axiance Group, which had previously been named EverFX. It appears that EverPro Trader is simply copying the information of an actual company, which means it is using the common scam tactic of a ‘clone firm’.
This has prompted the CySEC to issue a warning against EverPro Trader and they have blacklisted it. The warning mentions that it is operating as a clone firm and is not licensed or regulated.
False claims of returns
The fact that a renowned regulator has issued a warning about EverPro Trader is proof enough that this company cannot be trusted. But, if you need additional evidence, you can find plenty of it on their website. If you take a look at their account options, you will notice that the broker is offering minimum returns in every account.
This should immediately send up a red flag because the financial markets are highly volatile and unpredictable. Even the most professional and expert traders can never guarantee profits and the fact that EverPro Trader is doing so should be considered fishy. Most jurisdictions like the UK even require brokers to add a warning on their website about losses in the financial markets and no mention of profits is made like this.
Lack of trading platform
The trading platform refers to the software that a broker provides its clients for trading purposes and can vary. The problem with EverPro Trader is that they don’t appear to offer a trading platform at all. If you take a look at their offerings, you will find that they have a user dashboard that boasts charts of some other prominent brokers.
The purpose is simply to create the illusion of a trading platform because they don’t really have anything available. Most professional and authentic brokers offer the MT4 or the MT5 trading platforms that are well-known in the market for their tools and features. No genuine broker would ever be without a platform because it is crucial to their services. EverPro Trader cannot offer trading services without a trading platform, which shows that they are only interested in conning people.
No leverage available
Every broker offers some trading conditions and you need to know what they are before signing up with them. Leverage is one of the most important ones, but you will be disappointed because EverPro Trader does not offer any leverage to its clients. Of course, this makes sense because they don’t have a trading platform, which means you cannot trade at all. Therefore, no leverage would be required.
You should also note that EverPro Trader does accept several payment methods, which include bank wires, credit cards and Bitcoin and Ethereum. However, you should remember to only use your credit card when making a deposit with a broker because it gives you the option of filing for a chargeback if anything goes wrong. Bank wires and crypto payments are permanent and the latter are mostly anonymous for the most part, which means your money will be gone and you will not be able to get it back.
The fact that EverPro Trader has been blacklisted by one of the top regulatory authorities and they do not offer you a trading platform at all are reasons enough for you to avoid this broker. It can be deduced that it is not legitimate and should not be trusted with your money at all.