EFG Brokering Review: 6 Info about this broker

Thinking of getting into business with EFG Brokering? Here is what you must know about this broker. Carefully read this review to find out if efgbrokering.com is the trading platform you will want to trade with.

About EFG Brokering Broker

EFG Brokering is an offshore brokerage company with a lot of promises for traders. The broker address shows it is from United Kingdom.

Do You Know You Could Get Back Your Money If You Have Been Scammed?   Great News! Click HERE to Get Started

Address

There is no much information to discuss under this broker other than its claims to offer security, focus on client, customer support, transparency and fairness.

To clarify, regardless the trading instruments EFG Brokering claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.

efgbrokering.com: Reasons to Avoid This Broker

Firstly, efgbrokering.com is a platform with no financial authority overseeing its financial services. We discover the broker is not an approved entity in the FCA database which makes us to believe its financial services are fraudulent.

Secondly, we noticed efgbrokering.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.

These are cons for forex traders to avoid losing money with this scam broker. In fact, 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, EFG Brokering takes 3 to 5 processing working days. There is an unspecified fee on any withdrawal request. For a dormant account of 6 months, the broker charges $25 every 6 months it is inactive.

Minimum Deposit

EFG Brokering minimum deposit is not mentioned.

As for the payment methods, the broker discusses nothing. But, you should not consider making any payment with this broker because it is a risk. So beware!

EFG Brokering Platform

EFG Brokering offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.

As for the leverage, the broker offers 1:200. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

EFG Brokering 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 that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

Instead, Trade with TOP RATED BROKERS



Accounts

Free Trial

Projects

SSL

S

Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage
1:500

TOP CHOICE BY TRADERS

Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage
1:300

BEGINNER FRIENDLY

Licensed in Australia(ASIC) and Cyprus(Cysec)

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage
1:500

WordPress Pricing Table Plugin

Conclusion: Is efgbrokering.com a Reliable Broker?

No, efgbrokering.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.

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 review 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.

0 0 votes
Article Rating
GPS Forex Robot
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments