EuropeMarket Review – Signs of a Scam

EuropeMarket Review

Millions of people all around the globe are engaged in online trading. But, not all of them are able to enjoy the same results. Some people have succeeded in their endeavors, while others have not fared so well.

But, there are also people who do not suffer because of trading itself, but due to other factors. One of these is the existence of scam brokers in the market, who are introduced with the primary purpose of conning people.

There are a ton of them that exist, but they are quite well-disguised, so it can be a tad challenging to spot them, as this EuropeMarket review will reveal.

This is why most people end up signing up with these fraudulent platforms and have to face the consequences. Of course, no one wants to lose their money and made a fool of, but how do you accomplish this goal?

The best way to go about it is to assess a brokerage before you go ahead and open an account with them. You just need to make some effort to find out what the company really is about and it will help you make a wise decision.

If you skip this step, you might save some time, but if you choose the wrong brokerage, it would lead to wasted time as well as money in the future.

It does not matter what the broker is tell you; after all, no company is going to badmouth itself, or share its shortcomings. You have to ensure it does not have any signs of a scam before you proceed.

The same approach should be taken with EuropeMarket that looks quite friendly at first glance, given its yellow and blue color scheme.

You will also be impressed to know that it is one of the leading financial institutions in Europe that specializes in forex and CFD trading, or so it claims.

A further look will show that EuropeMarket claims to be operating from Sweden, offers leverage as high as 1:500, generous trading bonuses and a host of forex pairs, shares, indices and commodities.

This sounds like quite a package, but you have to be skeptical until you have completed your assessment.

This will reveal the signs of a scam that EuropeMarket has and that it should be avoided. What are they? Check them out here:

Warning from a regulatory authority

When you have to assess an online brokerage, the best place to begin is with its regulatory status. A legitimate broker will always be well-regulated by the authority of their respective jurisdiction.

This will tell you that you are dealing with a company that maintains high standards in terms of services and can offer you security and transparency. Moreover, it can also be held accountable if there is any problem, which also gives peace of mind to traders.

The regulation depends on where an online broker is based and as mentioned above, EuropeMarket claims to be based in Sweden. However, it is highly unlikely that it is regulated because as it turns out, the company has been blacklisted by the regulatory authority in Spain.

The National Securities Markets Commission (CNMV) has issued a warning about EuropeMarket and has actually published an article to guide people about how to avoid scammers like this one.

Just like a license from a regulatory body can boost the credibility of a broker, a warning can destroy it completely.

This means that EuropeMarket is unlikely to be a genuine and reliable brokerage, given that it has been talked about as a fraudulent company that is running a pyramid scheme, or something similar.

Attempts to steal money

The regulatory issue is the first sign of a scam that you will come across in the case of EuropeMarket, but this is just the beginning. There are a number of such indicators that you will continue to see when you continue going through its website and offerings.

The next one is the attempt of the company to steal your money. How do they try to do it? When you go through the EuropeMarket website, you will notice the benign looking icon of AnyDesk.

This is a desktop app that has been especially developed to help people in assessing and controlling their home PC computers through the internet.

While it sounds quite convenient, you should note that scammers like EuropeMarket use this app to ask for installation details. Once you have shared them, they will be able to access your PC as well, which means they will be able to steal your passwords, banking information and other details.

It is the perfect opportunity to steal money straight from your account and this should immediately make you wary.

False trading platform claim

The trading platform is an important feature and you want to have access to the best one like the MT4, or the MT5, which are known to be equipped with advanced tools and features.

The fact that the industry-standard MT4 platform, along with an advanced proprietary trading platform is promised at EuropeMarket will draw a lot of people in.

But, you will discover soon enough that this is just a false claim, which is what a scam company would usually do. The actual trading platform that EuropeMarket provides is a rudimentary web based one that has absolutely nothing special to offer and is extremely basic.

Terrible trading conditions

The scam signs at EuropeMarket continue as you dig into its offerings, with the trading conditions turning out to be terrible as well. It demands a minimum deposit of a whopping $3,500, which no genuine brokerage would do.

These days, companies are allowing their clients to open accounts for as low as $10. Even if the average is used, it should not be more than $250, but what they are demanding is just excessive.

In addition, the leverage ratios that EuropeMarket is promising go as high as 1:500, which no European brokerage would ever offer. This is confirmation that the company is not based in Sweden because it is not following the regulatory framework.

The Verdict

All of these signs of a scam show that EuropeMarket is indeed a fraudulent platform that you should not use as your brokerage.