GENERAL INFORMATION
Euphoria Markets advertizes Cryptocurrencies and Derivatives trading, a customer-oriented approach, and an advanced trading platform. In reality, however, this broker fails to distinguish itself from the myriad of offshore forex providers out there – unregulated, shady, and pretty much anonymous.
IS EUPHORIA MARKETS LEGIT？
No. Like all the other brokers registered in St Vincent and the Grenadines, Euphoria Markets operates without any license, and pretty much anonymously. Of course, this means that potential clients of the broker are open to all kinds of risks,
And of course, most brokers registered in the SVG are known to be involved in fraudulent practices – because they don‘t have to abide by any rules, nor are they overseen by the government. We have no reasons to believe that the case with Euphoria Markets is any different – especially given that they haven’t even provided the public with the name of the entity behind the operation.
So what we have here is a broker that provides financial services without any authorization and pretty much anonymously – a dangerous combination that should immediately trigger an alarm. Because clients (or victims) of such websites have absolutely no guarantees for the security of their funds. And most of them will end up losing their investment and desperately looking for ways to get their money back – which isnt an easy task because the fraudsters are more or less anonymous and almost impossible to track down.
ACCOUNT AND LEVERAGE
With minimum deposit of 0.010 BTC expected from the traders, This is significantly higher than the average in the sector, as most brokers ask for $100 – $250 for their Standard accounts, and some would allow you to trade after a deposit of just $5 or $10.
The broker provides 1:200 in leverage, which would be enough for most traders. However, trading with such relatively high ratios may easily lead to a devastating loss. But when you are willing to take the risk, youd better do that with trusted brokers – otherwise, you may lose more than you have initially deposit .
TRADING INSTRUMENTS
The tradeable instruments include; forex, commodities, indexes, stocks
TRADING PLATFORM
According to what was observed, The broker claimed to use a Web-based trading platform which is its own platform designed for their users. Yet the web based platform lacks some advanced functionalities and characteristics available on a standard MetaTrader platform and we can therefore say that it is better to use a reliable broker offering a standard trading platform with full functions and indicators.
DEPOSIT AND WITHDRAWAL METHOD
What can be seen after registration on the clients page was that, it accepts payments from all the users through one means, which is Bitcoin. And as we have said earlier that, reliable brokers doesn‘t give only Bitcoin as the payments method, instead they give several alternatives because there is not safety in using Bitcoin to make payments. Therefore this is another red flag against this broker and we don’t recommend using such.
