Table of Content
EU Finance Review – Learn More About This Scam Broker
Table of Content
EU Finance Review, you’ll see just why trusting this fraudulent broker is extremely risky. Dark blue with a circle of shiny yellow stars won’t cut it, we’re afraid. In exposing this con artist, we carefully analyzed what it has to offer in terms of trading platform and conditions as well as payment methods.
But before all that, we must address the problematic lack of transparency regarding the legal status and background of EU Finance. Thus, let’s not waste any more time and begin revealing the truth.
|Leverage||Up to 1:400|
|Regulation||Unregulated Scam Broker|
|Headquarters||2B John Islip Street, Westminster, London (allegedly)|
|Minimum Deposit||250 $|
|Broker Type||Forex, Commodities, Crypto, Indices, Stocks|
EU Finance Regulation and Fund Security
Anonymous? Check. Fake UK address? Check. Missing from the FCA database? Check. Well, well, well, it seems we got a scammer on our hands. A broker that’s so vague that violates leverage and bonus restrictions could never obtain a valid license issued by the FCA from the UK. Therefore, don’t trust this hoax.
FCA-regulated brokers have to have a minimum operating capital of 730,000 GBP, and a compensation scheme of 85,000 GBP for clients, as well as to provide them with negative balance protection and segregate their funds in a Tier 1 bank. Also, the leverage has to be limited to 1:30 for retail clients.
EU Finance, however, does not meet these demands. What the provider did manage to achieve is land on the blacklisted of the Spanish financial market regulator – CNMV. Take a look:
EU Finance Trading Platform Overview
The unscrupulous broker keeps bragging about its unique platform called EU Finance terminal. Without a demo account, we couldn’t check this so-called cutting-edge trading revolution. But, we found WebTrader, i. e. the most basic of platforms accessible via any browser. We say that because WebTrader is very limited.
Advanced features such as trend indicators, automated trading, economic calendar, analytical tools, etc. are missing from this platform. For those tools, you ought to get yourself some Meta Trader 4 or Meta Trader 5, the leading software in the trading industry. You also going to need to first try out a free demo account before investing, something that EU Finance doesn’t provide.
Of course, that can only be found with regulated and renowned brokers, thus, we suggest you ditch EU Finance altogether.
Available Account Types Offered at EU Finance
We found three different account types that EU Finance offers:
- Micro account – min. deposit 250 $, leverage up to 1:200;
- Standard account – min. deposit 5,000 $, leverage up to 1:300, 25% welcome bonus;
- Premium account – min. deposit 25,000 $, leverage up to 1:400, 50% welcome bonus.
All accounts offer static spreads, but the fraudster did not specify how wide they were. As you can see, leverage exceeds the legal limit of 1:30 by quite a margin. We don’t know anything about commissions because the broker loves being vague.
And last but not least, there are pesky bonuses. Yup, the same little fraudulent tools that all European regulators banned, and for good reason. A welcome bonus seems pretty enticing, but it has been put there to serve as a pretext for the scammer to prevent clients from withdrawing funds.
Below, you can see the controversial clauses that most scammers put in their T&C. Tough luck making withdrawals when you first have to reach an insane trading volume. All because of some stupid bonuses.
Trading Instruments at EU Finance
At this point, trading instruments are the least of our problems. When everything else is settled, then the instruments come in. Nevertheless, we provided an overview of them for the sake of the review. It’s a good list and that’s why you have to be careful not to fall for the scam.
- Forex currency pairs – EUR/USD, GBP/JPY, AUD/NZD…
- Indices – NASDAQ100, GER30, US100…
- Shares – Amazon, Google, Tesla, Bayer…
- Commodities – silver, palladium, crude oil, natural gas, coffee…
- Cryptocurrencies – BTC, ETH, XPR, USDT…
EU Finance Deposit and Withdrawal
When it comes to payment methods, EU Finance offers just the traditional ones, i. e. credit/debit cards and wire transfers. There are no cryptocurrencies and no e-wallets such as Skrill, Neteller, and PayPal. Pretty unsophisticated if you ask us.
The minimum deposit is 250 $, which is honestly too much considering all that has been said in this review. The withdrawal procedure is pretty ambiguous but do you know what isn’t? The fees! Yup, pretty hefty ones at that.
Namely, EU Finance says it charges 50 $ for wire transfers, 25 $ for card transactions plus a 10 $ processing fee, and 25 $ for e-wallet payments. All withdrawals allegedly include a 10% levy. Isn’t that great?
I Was Scammed by EU Finance – How Can I Get My Money Back?
Getting a refund for credit/debit card transactions can be done via chargeback. This action should be requested at the issuing bank within 540 days. However, it cannot work if the scammer has copies of your personal documents such as your ID card or passport.
Wire transfers can be reversed via recall. There’s a catch. It can only work if the transaction is incomplete. Thus, rush to the bank at once!
If you’ve deposited funds via e-wallets, you need to reach out to the issuing company and get familiar with the necessary steps for getting a refund.
EU Finance Summary
- EU Finance is an anonymous broker that lied about having an office in the United Kingdom.
- The broker has been blacklisted by the Spanish CNMV.
- EU Finance’s unique trading platform was unavailable because there was no demo account;
- The maximum leverage is 1:400, which is illegal.
- The minimum deposit is 250 $.
FAQs About EU Finance Broker
Is EU Finance A Good Broker?
EU Finance is nowhere near a good broker. It’s anonymous, shady and has been blacklisted by CNMV.
How Long Do EU Finance Withdrawals Take?
Allegedly, withdrawals take up to five business days. However, we believe there won’t be any withdrawals allowed.
Does EU Finance Offer a Demo Account?
No. That’s a huge red flag. Every legitimate and licensed broker must offer a free demo account.