EDR Financial LTD Review: See the Truth about this Scammer
Just when you think you learned how to see through scams, EDR Financial LTD comes, and you don’t know what you are looking at. But no worries! We are here to help.
This scammer made it extremely hard for anyone to uncover their true intentions and identity, but they could not escape us. Read our EDR Financial LTD Review and see this broker for what it truly is.
|Broker name||Reliable Broker Must Have|
|Legal name:||EDR Financial LTD||Transparently displayed in the disclaimer or legal documents|
|Regulation:||Unregulated||Within your legal jurisdiction – local regulator|
|Registered in:||Cyprus (allegedly)||Your country or the country whose license applies in your legal jurisdiction|
|Established:||N/A||The older the domain – the higher the possibility the company is trustworthy|
|Website:||edrfinancialltd.com||Domain should be from local or international zones, no .xyz, etc.|
|Financial Authorities Warnings:||CySEC||None|
|Contacts:||Email: [email protected]
|Phone, email, social media, web form|
|Is withdrawal possible:||No||Yes|
|Fees:||Hidden fees||Transparent fees – list of spread and commissions|
|If Active on Social Media:||No||Often present on social media|
|Investor Protection:||No||Compensation fund|
Is EDR Financial LTD Legit? Regulation Info
The EDR Financial LTD Website poses quite a dilemma. On the one hand, you can find all their licenses clearly listed, and they each check out, but on the other, your intuition tells you something is fishy.
We are here to tell you your intuition is right! The EDR Financial LTD does have all the licenses you found, but we are not talking about the same broker. This scammer is a suspected clone of the real EDR Financial LTD, registered in Cyprus. The devil is in the details here, and when you check the regulation, you will see that the approved domain is www.triomarkets.eu, not edrfinancialltd.com.
This is one of the most nefarious ways scammers con people because it can be extremely hard to figure out what is happening. Thankfully, CySEC, one of the most revered Forex regulators, realized the situation and issued a public warning against EDR Financial LTD.
When searching for a broker to trade with, they have to be regulated by a reputable authority. The ones we recommend include the Canadian IIROC, CySEC, German BaFin, the UK FCA, or Polish PFSA. Since EDR Financial LTD has none of those, it is highly dangerous, and we strongly suggest you avoid it!
EDR Financial LTD Profile
The reason why your intuition was running wild was probably because of everything else about EDR Financial LTD besides ‘their’ regulation.
This scammer gives us almost no information, which is beyond alarming. Apart from the EDR Financial LTD phone number and email address (which might be fake), we only know what account types the broker offers and that is it.
Right below the EDR Financial LTD Login page, the broker says you can open four types of accounts, including:
- Retail Trading – $10
- Arbitrage Trading – $5,000
- Islamic – $10
- TFSA – $10,000
The initial deposit is very low, which can be enticing to traders, but we remind you once again that you are dealing with a scammer.
We do not know what platform traders can use, the leverage, or if the broker has a bonus program. EDR Financial LTD talks about stocks and ETFs on their webpage, but we were not able to confirm if you can trade them.
|Account types:||Retail Trading – $10
Arbitrage Trading – $5,000
Islamic – $10
TFSA – $10,000
|Financial Instruments On Offer:||Stocks (Tesla, Coinbase, Amazon, etc.)
ETFs (SPDR S&P 500, Euronext Paris, etc.)
|Education or Extra tools:||N/A|
Is This Broker Safe?
No, EDR Financial LTD is not safe! This is a clone site, and you can kiss your money goodbye if you give it to this scammer.
Instead, we recommend you try your luck with Robinhood, Oanda, or CommSec. And if none of those seem appealing to you, you can contact us for free consultations where we can discuss what you want in a broker.
Trader Reviews – Sharing Experiences
You are used to us giving you a fresh perspective on good and bad brokers in our trader reviews. We believe they are an essential part of every good review, and when we do not find any, we immediately put the broker on the high-risk list. This was the case with EDR Financial LTD as well.
There were only several professional reviews online, like ours, but nothing else. Checking the Scamadviser website, we found there is little to no traffic on this website, which would explain the general radio silence concerning this broker. This is yet another red flag, and we urge you to skip this fraudster.
How Does EDR Financial LTD the Platform Reach Clients and Who Are They?
With limited information about EDR Financial LTD, we cannot tell you with certainty where this broker operates. The website’s owner hid his identity on WHOIS, so our efforts were even more stifled.
However, be careful if this broker approaches you directly. No legitimate broker engages in this type of behavior, as they do not have to reach out to individuals for partnership. They let you come to them by marketing themselves through good service and reputation.
Deposits and Withdrawal Methods
As far as the EDR Financial LTD fees are concerned, this scammer only mentioned you would have to pay them, but not the exact amount. Additionally, the minimum you can withdraw is 3,000 EUR/GBP.
Reasons To Avoid This Company
We could go on for days about why you should avoid this company, but we will keep it short. Firstly, we do not know who they are to begin with, as we are dealing with a fraudulent clone of a legitimate broker. There are also no user reviews, barely any basic information about the broker or the trading environment, and even their website does not work since clicking on buttons does not lead you anywhere. With all this being said, we give them a hard pass and hope you will too.
Our Safe Trading Experts’ Opinion of EDR Financial LTD
Reaching the end of our EDR Financial LTD Review, we can conclude this broker is extremely dangerous, and it is in our best interests to avoid it.
However, this does not have to be the end of your trading journey. Many legitimate brokers are waiting for you, and we can help you find them. Contact us today, and let’s get you started!
What is EDR Financial LTD?
EDR Financial LTD is a fraudulent clone of a legitimate broker. They are clearly into shady business, and we recommend you avoid them altogether.
How do I start crypto trading?
The first thing you can do is educate yourself on the subject. Learn about cryptocurrencies, general trends, and the most prominent brokers. Next on the list is to choose a reliable broker. You can contact us for advice if this is too much to handle alone. We provide free consultations where we can solve any problem you might have.
How can you help me choose the best forex or crypto broker?
The best thing we do for you is personalize the offer. We analyze your needs and skills and then make our suggestions based on that.