Esplanade Review
Reason to avoid: Offshore License
Listed Date: December 27, 2018
Top 3 Forex Brokers
Beware Esplanade is an Offshore-Licensed Broker. It is NOT SAFE to trade.
- Our Review
- Esplanade User Reviews
- Esplanade News
Is Esplanade Market Solutions Scam or Legit Broker?
According to our research, Esplanade Market Solutions is a total scam. The broker is not regulated and has no legal right to provide financial services to the public. Moreover, Esplanade Market Solutions has been suspected of fraud, when pretending to be another company with a better reputation.
- The fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements for the company operation.
About Esplanade
🗺️ Registered in St. Vincent and the Grenadines 🗺️ Type of License Offshore License 🛡️ Is Esplanade safe to trade No 🗺️ Recommended Licenses FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 🖥 Alternative Broker FP Markets - licensed by ASIC in Australia
What is Esplanade Market Solutions?
Esplanade Market Solutions is a leading brokerage company that provides the broadest range of services and makes every effort to create a comfortable environment for online trading. The Esplanade states its address and registrar of International Business Companies, registered by the Financial Services Authority of Saint Vincent and the Grenadines. The brokers offer consistent access to trade financial instruments and derivatives on a range of assets, through constant support and lawless settlement.
- That means, the broker is not regulated, not overseen, and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets, and more. Read more about St. Vincent and the Grenadines regulation by the link.
- In addition, the Esplanade MS received a legal warning from a Bulgarian authority FSC while the broker was detected for its active offering toward residents without legal permission to do so. The pages and official sources of the international regulators’ list alert are shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and the general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities, and more. As Esplanade got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.
Overall Esplanade Market Solutions Ranking
We found that Esplanade Market Solutions has multiple regulation and safety issues, thus we do not rank positively Esplanade Market Solutions, based on our Expert Opinion with over 10 Years of experience in Forex Trading.
- Esplanade Market Solutions Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
| Ranking | Esplande | FP Markets | Go Markets |
|---|---|---|---|
| Our Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
| Is Broker safe? | No | Yes | Yes |
| Advantages | None | Trading Conditions | Trading Instruments |
Esplanade Market Solutions Alternative Brokers
We revealed that Esplanade has a lot of issues when it comes to its safety and customer care. Thus, here are much better Alternatives to Esplanade with tight regulations and favorable trading conditions. We select Good Brokers and reliable options for your comparison below:
- Dukascopy – Excellent for Shares, Futures Trading
- AvaTrade – Good Instrument and CopyTrading
- InteractiveBrokers – Good for US Trading and Trading of Real Stocks
Deposit & Withdrawal
At Esplanade, making deposits and withdrawals is simple and quick. The broker offers multiple funding options, including Bank wire transfers, Visa and Mastercard payment cards, bitcoin, etc.
- Esplanade allows not more than 5 transactions per day
- There might be payment system restrictions if the e-wallet is not authorized.
Esplanade Market Solutions Review Conclusion
We constantly advise avoiding offshore and unregulated brokers at any cost. Funds safety always goes first, therefore protect yourself and do not engage in the highest risk trading with a non-regulated entity and better consider reputable firms from serious jurisdictions. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.
- Overall ranking and experience for Esplanade is Negative
No review found...
No news available.
Esplanade Market Solutions is a reliable brokerage that offers not only forex and currency trading, but also a number of CFDs that include commodities, metals, indices and stocks, both american and, lol, not american. I like the company for making my life easier. I don’t have to worry about spreads on each trade, because I chose fixed spreads account type. Even though I don’t have a personal manager, technical support is always available to help with MT4 settings or whatever difficulties may arise in a daily routine. Great service, reliable servers, nice support and good pricing policy. All together makes a great deal.
I prefer a fixed spread, I trade over a long distance and it’s more favorable this way. Well, plus, thanks to the fixed spread, I can not worry that due to a sharp prices jump, my deal will open at a completely different price and I will overpay. Before switching to fixed account, I asked support and they explained everything.
Let me describe pros and cons of this brokerage. Let’s start with the pitfalls.
First of all, the minimum trading account size is $250. I’d prefer it to be $100, but oh well,at least it’s not a three digit number. Secondly withdrawals cost some money. 1-5% depending on the payment system.
Among pluses and competitive advantages I can manage good executions. Esplanade’s servers are fast enough and we get minimal requotes and slippages here. Spreads are also very nice. Support is thoughtful and professional. They can even help you with MT4 setup in case you need such help.
In my opinion trading at financial markets is so risky that this good when brokers offer some backup programs to diversify the sources of income. Esplanade fits perfectly for both intraday trading and long-term investments. The number of listed instruments is impressive and a trader can work with both, traditional forex instruments and CFDs on commodities, metals, oil and stocks from different parts of the world, not only SnP500. The other huge plus is their referral program. Once you recommend a broker to someone, part of the fees that that trader pays on each transaction return to your account. This way you can get up to $5 per somebody else’s trade, not even being involved in trading yourself. Such a risk-free opportunity is a rare perl among brokerages, so I suggest paying some attention to this opportunity.
If you are looking for a reliable brokerage with fast and accurate orders execution that I would recommend having a closer look at Esplanade Market Solutions. I’ve been with them for 8 month and so far am very pleased with the service. I use MT4 and this tandem of Esplanade and Matatrader turned out to work perfectly fine. Slippages do happen but they are not huge and only happen when the market is getting violent if you know what I mean. The min deposit here is $250 and you can choose between fixed and variable spreads. I prefer variable cause it seems that the average is a bit better here. Guess it depends on the time of a day you prefer to trade at. Withdrawals are done by numerous payment methods and I\m sure your favorite payment system will definitely be on the list of methods Esplanade can use to do the transfer.