Esperio is a forex broker based in SVG (St. Vincent and the Grenadines) Owned by OFG cap. Ltd. Other than the fact that they are offshore-based, Esperio is having a convincing presentation.
Nevertheless, one should be keeping track of those small indicators that give insight into whether a broker is a legitimate one.
Upon landing on their site you are greeted with a Warren Buffet image and a not-so-convincing slogan: “Trade like Warren Buffet”. Of course, any connection with the famous businessman stops here, as the owners of this company are anonymous by definition.
|Company||OFG cap. ltd|
|Address||1 Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent, and the Grenadines|
|Phone||+4 202 340 766 95|
|Leverage||Up to 1:1000|
Esperio Regulation and Fund Security
Many international companies operate offshore and take advantage of reduced taxes. However, parts of those companies, situated in other countries, still submit themselves to regulation.
Regulation is a major factor for fund security as it dictates parameters under which trading companies must do business. Being based exclusively offshore, Esperio avoids all regulations.
More often than not, this fact is abused to avoid liability.
Ukrainian regulator (NSSMC) blacklisted Esperio. NSSMC is not a top-tier regulator, but being blacklisted raises questions about this broker’s reliability.
Overview of Esperio Trading Software
Esperio is using MetaTrader4 and MetaTrader5 trading platforms. These are well-known tools of the trade in the industry. MetaTrader5 has a stronger (64bit) encryption and is the more powerful of the two.
However, MetaTrader4 has been around longer than MetaTrader5, which has its benefits. They are the go-to forex trading platforms and both got great ratings.
So everything is fine, and there is no reason to worry after all? Not quite. Just having a trusted platform to trade through, doesn’t mean that investors can’t be scammed. It just means that real orders are placed, and real transactions are made.
Esperio Deposit and Withdrawal Methods
Withdrawal and deposit procedures are unclear. Their website is not offering facts on these. A certain level of commitment is needed to get to this information, which is always a bad indicator.
Reputable traders are known for their transparency. That transparency is precisely the reason why they get and keep their investors.
Esperio offers many payment methods. Interestingly enough, they accept Credit/Debit cards(Visa and Master), Cryptocurrencies (Tether and Bitcoin), Piastrix, FasaPay, Mir, PayTrust, PayToday, Sepa, and HWGC. Some of these are lesser known and are specifically used in parts of Asia and Eastern Europe. These payment options may suggest that these parts of the world are being targeted for investor acquisition.
Esperio Gives Bonuses and Promotions
Esperio gives out many bonuses. Pretentious by name (“Extra Empower”, “Double Empower”, “Empower Cashback”, and “2% per month – 24% per year”), they come with some strings attached. A site hosts calculations for the proceedings that incorporate these bonuses.
Without going into details, it might be more useful to look at the bigger picture here. SVG-based trading companies do not segregate their client’s accounts.
This fact may present a problem when trying to determine which funds from the account are being invested, which are accumulated from bonuses, etc. All funds are being put into one place, so when a trader objects to a bonus being given it can freeze all funds.
Do They Execute the Scam and How
They most likely are. Esperio avoids scrutiny by doing business in a non-transparent manner. When combined with the fact that they operate without regulations, who and what can stop them to commit fraud on unsuspecting victims? Certainly, Warren Buffet’s picture can’t help in this regard.
Jokes aside. Placing a picture of a prominent businessman on their landing page with no apparent ties to the famous person is only an indicator that they are only interested in creating an image of a reputable enterprise.
As if all of this wasn’t enough, their leverage can be brought up to 1:1000! Sure, it gives a great incentive to invest with a promise of a big return, but the losses can drain your account in a matter of minutes.
Financial market regulators cap leverage for a reason. That regulated cap stabilizes the market and increases the safety of the funds. Avoid getting seduced by big leverage.
Think twice before taking any risks while investing money.
If you have any negative experience with this or any other fraudulent broker, we would be grateful if you could share it with us.
Forex Brokers We Strongly Recommend
We’re keeping an eye on fraudulent forex providers. Moreover, we’re keeping track of those that are trustworthy. Feel free to help yourself with a list of those brokers we deem best in the business.
Being under the jurisdiction of the financial market regulator, they provide a certain level of safety for your funds. Ratings of those companies are listed as well, so user experiences are telling a story of their own.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$25||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus, SVG||4.7||$100||Fpmarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||Xm.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||Hfm.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||1$||Fbs.Com|
Esperio is an unregulated company. That fact is already of great concern. Lacking transparency, they keep vital information on withdrawal and deposit private. Leveraging this big, in this case, can only be of great concern instead of offering big opportunities to invest.
We recommend you not take that much of a risk with investing with this broker. Consider picking a more reputable, regulated broker for investing.
FAQs About Esperio Broker
What Is The Esperio Minimum Deposit Amount?
The minimum deposit is not publicly available on their website and is disclosed upon opening an account with them.
How Do I Deposit Funds Into My Trading Account?
In your trading account, there is a “deposit” option. Esperio offers a variety of payment methods. Credit cards, wire transfers, and various electronic payment systems.
What Account Types Does Esperio Offer?
Esperio offers 4 types of accounts: “Standard”, “Cent”, “Invest” and “MT5 ECN”. They differ in several parameters under which they operate: spread, margin call, stop out, trading platform, etc.