Table of Content
EvoCapitals Review – Scam Behind Evo-Capitals.Vip Broker
Table of Content
First suspicious detail that appears about Evo Capitals is the company address. Evo Capitals LLC is said to be the owning firm, registered in the US.
Another address is given though, in Singapore. The User Agreement states that the owning company is actually LoyalTech LTD.
|Company||Capitals LLC/LoyalTech LTD|
|Address||3 Phillip St, Singapore 048693|
|Minimum Deposit||250 EUR|
As if this isn’t messy and confusing enough, the company claims to be regulated in the US. After a thorough check of the several databases, we have established this to be a lie. Keep reading to see why.
How Are You Protected at EvoCapitals?
Since EvoCapitals claims to be registered in the US, it would mean they are regulated by NFA or CFTC. Checking the registers of the mentioned regulators has shown this to be false.
With the given address of the company in Singapore, we have, just in case, checked the database of regulated brokers from Singapore. MAS, Singaporean regulator, mentions no EvoCapitals as a registered broker.
Protection is questionable with non-regulated brokers like EvoCapitals. Funds that clients invest are not kept safely in segregated bank accounts. Users cannot be guaranteed to be protected from sudden loss. Leverage restriction is not respected, therefore, risk is huge and the profit non-existent. No compensation scheme is carefully planned and clients are exposed to being defrauded.
Available Trading Software at EvoCapitals
Only trading platform offered at EvoCapitals.com is a simplified Webtrader. The left side provides a look at the trading instruments and there are several chart types.
Something that is only functional in promises is not a reliable trading platform. Unlike this trading terminal at EvoCapitals, MetaTrader is a far better software.
MT4 and MT5 have advanced and state-of-the-art features like automated analysis, strategy makers, progressive indicators, automatic updates, economic calendar and others.
EvoCapitals trading terminal cannot compare to that.
Account Types Offered by EvoCapitals
A range of accounts is offered at EvoCapitals. Users can seemingly choose the account and trading environment that perfectly matches their preferences. For that purpose the following account types are given:
- EvoCapitals VIP
- EvoCapitals VIP Platinum
With each account and bigger deposit (from 250€ to 1 000 000€) clients get more features and services available. Some of those are opening deals in real time, copying deals of the other traders, Investment protection fund.
These and other opportunities would be attractive if the required deposit wasn’t ridiculously high and actual profit with a scammer impossible.
What Market Instrument Can Be Traded at EvoCapitals?
Trading area at EvoCapitals list some major groups into which the trading assets were divided:
- Currencies (EURUSD, GBPUSD, USDJPY, USDCHF, USDCAD, AUDUSD)
- Commodities (Silver, gold, wheat, soybean, sugar, cord, rice)
- Stocks (Ferrari, Apple, Tesla, CAT, Nvidia, Intel, Coca-Cola)
- Indices (NASDAQ, SP500, CAC49, DAX30, NIKKEI)
- Crypto (BTC, ETC, ZEC, XMR, IOTA, ALGO, LTC)
Deposit and Withdrawal Process
EvoCapitals lets users recharge the balance of every account through credit/debit card. Depositing is allegedly not charged any fees and the same is confidently claimed about the withdrawal. The initial deposit amount needed to open the lowest-priced account type is 250EUR.
The withdrawal takes from 3 to 10 working days, if the user has met the conditions to be eligible for the withdrawal. EvoCapitals ensures the clients the broker does not impose fees on withdrawals but does apply certain withdrawing restrictions in case of the client accepting bonuses.
EvoCapitals Offers Bonuses and Promotions
By accepting some of the bonuses offered, clients have to accept the strings attached to them. EvoCapitals gives the possibility of using the following bonuses:
- Welcome bonus (up to 50% of the deposited sum)
- No deposit bonus
- Insurance bonus
- Standart bonus
Accepting one bonus applies to all client’s accounts. Withdrawal of it is the hard part and clients have to trade in a total volume equal to (Bonus amount divided by 100)*7 standard lots for every 100 USD of the bonus.
How Do I Get My Money Back If EvoCapitals Scams Me?
The safest way of getting help with fraudsters is contacting government agencies and entities responsible for cyber crime. These institutions can take legal action in locating, identifying and dealing with a scammer.
If, by any chance, you get offered to be represented by a so-called recovery agent, do not fall for it. These are another extension of the sophisticated scamming scheme that targets the vulnerable and the robbed.
- Not regulated by any financial authority
- Does not provide a reliable trading software
- Bonuses come with conditions
- Poor company background information
FAQs About EvoCapitals Broker
Is My Money Safe with EvoCapitals?
No, an unlicensed broker like EvoCapitals cannot guarantee the safety of a client's funds.
How Long Does it Take to Withdraw From EvoCapitals?
The User Agreement states it takes from 3 to 10 business days for the withdrawal to be processed.
What Are The Funding Methods For EvoCapitals?
The site explains that the funding methods accepted are credit and debit cards.