EpsilonFx Review: Everything you need to know about this broker
In this EpsilonFx review, we will tell you all you need to know about a broker whose trustworthiness is questionable. We will assess this by delving deeper into the platform offered, account types, personal reviews, and more, to provide you with a clear understanding of this broker.
|Warning||Unlicensed scam brokerage|
Suit 305, Griffith Corporate Center, Beachmont, Kingstown,
St. Vincent and the Grenadines
EpsilonFx Reliability – License and Fund Security
When talking about licenses and regulations, immediate issues arise.EpsilonFx is not among the regulated brokers.No appropriate authority supervises the brokerage and it hasn’t been approved by them either. This is usually the first sign that a broker is very likely, like in this case, not to be trusted.
Furthermore, the company’s website was just launched a few months ago in January, and although the website doesn’t mention whether or not they are a licensed brokerage, it is very unlikely that they have obtained the licenses they need to operate, in such a short period. When you come across an unregulated and unlicensed broker like this one, that should be reason enough to avoid them.
The broker is overall hard to assess since it is very mysterious. The website does not provide
any social media, or any information at all about who is behind the platform. This is common practice for scammers.
Trading Platform Overview
EpsilonFx offers a web-based trading platform, but it is inaccessible. This is common for offshore brokers and scammers, they usually have unreliable trading software although they promise otherwise.
Brokers with unreliable platforms are not to be trusted, and even if they do have reliable software such as MT5, that doesn’t necessarily mean that they are trustworthy and that you should invest in them.
So make sure that you only invest and trade on safe platforms and with regulated brokers.
EpsilonFx Trading Account
EpsilonFx offers five different types of accounts, each, of course, costing a different amount
These five types are:
- Bronze $1,000
- Silver $5,000
- Gold $25.000
- Premium $75,000
- Diamond $125,000
As commonly seen with other scam brokers, there is a ridiculous difference in prices of accounts, each one being more expensive, and fluctuating between $1,000 and a whopping $125,000.
All account types provide different commodities, such as mobile platforms, different spreads, and different leverage, but do not let this fool you, brokers try to lure you into investing by stating that they offer many different tools, etc. but in reality, they are just trying to take money from you, as is the case with EpsilonFx.
And yes, like any other fraudulent broker, EpsilonFx does not offer a demo account.
Deposits and Withdrawals
In the deposit and withdrawal policy section on the broker’s website, they state that you can deposit money through debit/credit cards, or bitcoin, but withdrawals can only be done by wire transfers, which is very odd since usually the way you deposited the money into the account is the same way you use to withdraw the funds.
Many times, this business and other illegal businesses make their customers go through extra steps to withdraw their money. This is used as a way to prolong your withdrawals, and you can bet that you will run into one of these problems: either you won’t be able to withdraw your money without prior complying with their bonus policy, or they will ask you to pay a ridiculous fee, which is absurd since there is no good reason for a broker to ask you to pay a fee to withdraw YOUR money.
Trading Instrument Offered at EpsilonFx
EpsilonFX promotes a large range of financial products available on the platform. These include shares, commodities (precious metals, energy), forex (EUR/USD), stocks (TSLA, AMZN), cryptocurrencies (Bitcoin, Ethereum, Dogecoin), indices (S&P 500), and stocks.
EpsilonFx is not very competitive in this area, although they offer similar assets as other brokers, more reputable ones offer additional asset classes like ETFs.
How is the Scam Performed?
When considering the execution of the scam, mostly all scammers use the same tactics, or at least follow the same patterns. They offer you high profits, low deposits, or any other appealing bonuses, that are almost always too good to be true.
They will try to take your money no matter what, after all, they are business and their goal is to take your money, and sadly, not help you make money, so keep in mind that you always have to check a broker before investing in them, always look for the most common sense of fraudulent brokers and do not fall into their traps.
Need not worry! If you have already been scammed there is hope. You can get your money back and you should take some action. Always report fraud or scams of this kind to the appropriate authorities to prevent these scams from harming other people and you can always reach out to your bank and request a drawback of funds, and receive your money back if you do so fast.
And lastly, to answer the question you all are probably reading this article for, Should you trust this broker? Given everything we mentioned in this article, one thing is certain, the answer is NOT! This broker is a fraud and will only try to take as much money from you as possible.
Never jump into any trading without first checking if the broker is regulated, if they have positive reviews, if the broker has the licenses it needs etc. Always do your due diligence to save yourself from getting scammed. Trading can be a lot of fun but it has to firstly be safe! So do some research and find a trusty broker who will give you a great trading experience! Safe trading!
FAQs About EpsilonFx Broker
What Kinds of Accounts Does EpsilonFx Have?
EpsilonFx provides 5 account types: Bronze, Silver, Gold, Premium, and Diamond. The cheapest one (Bronze) starts at $1,000 and the most expensive one (Diamond) costs $125,000.
How is My Security Ensured When Using EpsilonFx?
Your Security is ensured by privacy policies, but these companies and actions have a high-risk warning, and full security can never be guaranteed, especially considering the shadiness of EpsilonFx and their fraudulent tendencies.
What Funding Methods Are Accepted at EpsilonFx?
EpsilonFx accepts the following funding methods: Credit/debit cards Bitcoin