eCryptoService Review Is Ecryptoservice.com A Legit Broker

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eCryptoService Review: Is Ecryptoservice.com A Legit Broker?

Ecryptoservice.com Review: this is the website of a Forex broker and cryptocurrency trading platform. Is it safe to invest funds in eCryptoService? Read the following details as we place details about this broker in the spotlight.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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eCryptoService mentions that it is regulated by FMRRC but does not give us its location detail. The Financial Market Relations Regulation Center (FMRRC) is a Russian independent self-regulatory organization. It is not a government-controlled regulatory commission and as thus cannot be regarded as high as we view top European Forex authorities.

Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of eCryptoService

The company touts itself as the “No. 1 platform on the market”. They claim to provide means for clients to make solid profits in a fast and secure environment. Trading assets offered are numerous and clients can trade with confidence because of their reputation of integrity.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

eCryptoService Trading Platform

There is no mention of what type of trading platform is used by clients of eCryptoService. However, readers and traders are advised to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

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These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are CFDs, Forex, and Options on various assets. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is not also mentioned on the website. Nothing is said about what spreads are used for trading but the payout is up to 85%.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on eCryptoService

The means of making deposits and withdrawals with this broker are Ethereum, Bitcoin, Litecoin, and iTunes. We are discouraged that e-wallets are not named because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit required to trade with the broker is $200 which is within the obtainable average of $100 to $250 usually required by many other brokers. Withdrawal fees are not stated but the broker mentions that it charges some sort of commission fees.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Blacklisted in Australia and Belgium

We are concerned about the activities of this company as it has been blacklisted by the ASIC and the FSMA. These two top Forex commissions in Australia and Belgium have warned citizens to be wary of this broker.

Is eCryptoService Licensed?

No. eCryptoService is not a properly licensed and registered broker. There is no well-known Forex trading authority that lists it among regulated brokerages.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To know more about the company and get some questions answered, dial +44 752 063 7211 or send an email to [email protected]

Conclusion

eCryptoService is an unlicensed brokerage that is blacklisted for targeting citizens illegally. We are not satisfied with the few trading conditions disclosed on the page and it does not support the MetaTrader trading platform as well.

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Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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