Evolution Brokers Review
Reason to avoid: Offshore license
Listed Date: November 26, 2018
Top 3 Forex Brokers
Beware Evolution Brokers is a Non-Licensed Broker. It is NOT SAFE to trade.
- Our Review
- Evolution Brokers User Reviews
- Evolution Brokers News
Is Evolution Brokers Scam or Legit Broker?
No, it is not safe to trade with Evolution Brokers. Evolution Brokers is owned by Maximus Global Marketing LTD, which is an offshore company licensed in St. Vincent and the Grenadines.
- St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Capital TradeFX, JustForex, and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.
What is Evolution Brokers?
Evolution Brokers is a Forex and CFD trading provider that claims the lowest spreads (See the List of Low Spread Brokers) in an industry that maximizes the profit through its established ECN/ STP execution and secure accounts.
- Moreover, the Evolution Broker states its negative balance protection and implementation of the highest level risk management tools, while all client funds are kept in segregated fund accounts.
- The main concern is the states that seemed to be very professional and actually necessary for a reputable broker, are not confirmed by any of the authorities. As the Evolution Brokers are located in an offshore zone, in St. Vincent and the Grenadine, and didn’t bother to obtain a license that will ensure customer protection, all the above said is not guaranteed.
- The mission of industry authorities is to regulate numerous financial investment firms, and report every move and statement they claim along to the protection of the client’s interest in every step.
- In regards to Evolution Brokers, the offerings are quite standard, while the firm is not among the recommended brokers that may involve clients in potential fraudulent investments. In addition, there are numerous complaints revealed by the traders engaged with Evolution Brokers, as well as a warning notification from FINACOM.
“The warning list is to inform the public of companies, including Evolution Brokers, that we do not recommend to trade with, following numerous reports and complaints filed by customers regarding non-member firms concerning fraud or wrongdoing.”
About Evolution Brokers
| 🗺️ Registered in | St. Vincent and the Grenadines |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is Evolution Brokers safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | GO Markets - licensed by ASIC in Australia |
Evolution Brokers Review Conclusion
We advise all investors and traders to avoid Evolution Brokers and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and FP Markets.
Evolution Brokers Update
Our research revealed that the Evolution Brokers website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals.
Evolution Brokers is a SCAM company. I have been trading with them for 5 months and all was going okay until I got to the end of month 4, then there was no communication. Before I realised I could not do a charge back with my bank because I had gone past the claim period. I have been completely shut out of the company, blocked on Skype and no one in the company is allowed to speak to me. I have tried every avenue to get assistance and sent several Tickets marked URGENT but nothing. I have a pending withdrawal in and hold very little hope of getting any funds back. I also have a PAMM account with the company which has 2 months still to run, however, I have no access to how this is doing and hope is fading fast on any retrieval. The senior Account Manager is called Dr. Christopher Luciano, he overseas everything and everyone. I do not recommend anyone to trade in this company and if I can reach out and stop new traders joining who believe this company is good, because I have first hand knowledge they are not good... they steal by stealth! Please publish this because it is the truth and people should know what is happening.
No news available.
Evolution Brokers is a SCAM company and no funds are safe. I have been trading with them for 5 months and all was going well, until I reached month 4 and all communication ceased, before I realised what had happened I had gone past the time when I could do a charge back with my bank. I have been completely shut out of the company, blocked on Skype and no one can speak to me. Although I have a withdrawal pending it is very unlikely that any funds will be returned. They offer a PAMM account and I have funds in this account also, however, I can not get access to any information. This is theft by stealth and all that is on their website is a lie.