Thinking of getting into business with Emex Trade? Here is what you must know about this broker. Carefully read this review to find out if emextrade.io is the trading platform you will want to trade with.
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About Emex Trade Broker
Emex Trade is an offshore brokerage company with a lot of promises for traders. The broker says it is owned and operated by Sequoia Group LTD and an address 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica.
The broker claims to offer 24/7 traders support, transparent trading conditions, and verified security.
There are different account types Emex Trade offers. See below.
In spite the trading instruments Emex Trade claims to offer, traders must know they are dealing with an unknown broker whose regulation claim is false.
emextrade.io: Reasons to Avoid This Broker
emextrade.io is a platform with no financial authority overseeing its financial services. The regulation claim is not legit as no financial authority recognizes this broker.
Another red flag we noticed on emextrade.io is that it has no demo account for traders. Since traders can’t test Emex Trade broker on a free account, we can’t know its viability in the forex market.
Again, this broker does not offer money back guarantee which means trading on such platform is clearly a risk.
This are cons for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, Emex Trade provides us with the following information. See below.
The broker charges 10% deduction on each month for an inactive account of 6 months.
Minimum Deposit
Emex Trade provides recommended minimum deposit is $250.
As for the payment methods, we can make payment via Wire transfer. However, you should not consider making any payment with this broker because it is a risk. So beware!
Emex Trade Platform
Emex Trade offers web based trading software and MT5 (Industry standard trading platform).
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.
Emex Trade 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 claims are truly a red flag and must be avoided.
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Conclusion: Is emextrade.io a Reliable Broker?
emextrade.io does not seem like a reliable broker for traders even though it promises offers that look good to be true.
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 forex brokers and also share reasons, we do not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
