EssenceFX Review 2025
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Updated:
Reason to avoid: Offshore license
Listed Date: September 7, 2019
Top 3 Forex Brokers
Beware EssenceFX is a Non-Regulated broker. It is NOT SAFE to trade.
Advertising Disclosure
Updated:
Reason to avoid: Offshore license
Listed Date: September 7, 2019
Beware EssenceFX is a Non-Regulated broker. It is NOT SAFE to trade.
No, it is not safe to trade with EssenceFX, because it is an offshore broker. The Company is wholly owned by Essence Markets Limited under registration number 40309, regulated by the Vanuatu Financial Services Commission, and incorporated in the Republic of Vanuatu.
🗺️ Registered in | Vanuatu |
🗺️ Type of License | Offshore License |
🛡️ Is EssenceFX safe to trade | No |
🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
🖥 Alternative Broker | IC Markets - licensed by ASIC in Australia |
EssenceFX is a global broker providing online currency trading services. The company provides access to a large choice and range of financial markets to trade, including Forex markets, Indices, and Commodities, all on the MT4 platform.
As to the broker’s VFSC license, from our source, it costs €24,000 per year to become a member. However, and there is no handbook or guidelines for brokers to run their businesses. Therefore, there is zero protection for traders. We have a detailed article explaining the risk of trading with brokers from Vanuatu.
The broker provides a Hong Kong contact phone number, however, it is not located or authorized by the local Securities & Futures Commission of Hong Kong. This usually means the broker has been targeting locals, illegally offering them financial services.
We advise all investors and traders to avoid EssenceFX and other brokers from Vanuatu. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and FXTM (Read about FTXM Trader).
Recently the EssenceFX website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals.
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Anyway to get my money back?
This company is a scammers.I’ve every proof against them.The are not paying their client money.