In today’s ETF Corp review, we have investigated an investment scam that has been warned against by several financial authorities. ETF Corp is a classic fraudulent broker falsely impersonating a legitimate brokerage firm to draw your attention, build your trust, and rip you off. In reality, it is a far cry from being a licensed and regulated business. Its services are grounded on falsehoods and deception. All in all, this con artist represents a credible threat to your financial well-being, therefore, stay away from ETF Corp.
Additionally, we strongly advise you to avoid the fraudulent brokersProfits Vision,The Liberty International, andUF Solution.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | etfcorp.com |
| Blacklisted as a Scam by: | CNMV, CONSOB, ATVP |
| Owned by: | N/A |
| Headquarters Country: | N/A |
| Foundation year: | 2016 |
| Supported Platforms: | Web Trader |
| Minimum Deposit: | 1,000 USD |
| Cryptocurrencies: | Yes (Bitcoin, Ethereum, Litecoin) |
| Types of Assets: | Forex, cryptocurrencies, commodities, shares, índices |
| Maximum Leverage: | 1:500 |
| Free Demo Account: | No |
| Accepts US clients: | No |
Is ETF Corp a Licensed Crypto Broker?
Simply put, no, it is not. On the contrary, ETF Corp is exposed by several major watchdogs. As such, it can’t hold any valid broker’s license, despite it professing the opposite. In addition to this, this phony broker is not transparent about its headquarters. So, being an anonymous and unregulated brokerage company is more than enough grounds for declaring ETF Corp an outright trading scam.
Lies About Accreditations And Licenses
Moreover, this shady brokerage firm deceives people by deliberately lying that it is authorized by the Australian ASIC, Cyprus CySEC, Belize IFSEC, Belgian FSMA, Vanuatu FSC, and Mauritius FSC. This claim can easily be refuted if you check the registers of aforesaid financial market regulators. Additionally, this dishonest scam broker posts a counterfeited certificate issued by Vanuatu Financial Services Commission on its website.
Likewise, its trading conditions are contradictory to legislation in some of those jurisdictions. For example, CySEC limits leverage to 1:20 while ETF Corp’s maximum leverage ratio is 1:500.
How Reliable Is ETF Corp Broker?
ETF Corp is a bogus brokerage firm that hides its whereabouts and lies about licenses. Besides that, several government authorities have issued a warning against this fraudster. Other than that, its trading environment is adverse and can’t enable success. Overall, steer clear of ETF Corp by all means.
Fraud Warnings From Financial Regulators
But that is not all. On top of being anonymous and unlicensed, and fabricating accreditations, ETF Corp is blacklisted by the following supervisory agencies.
- The Spanish CNMV (Comisión Nacional del Mercado de Valores or National Securities Market Commission) is the government body regulating the securities markets in this country.
- The Italian CONSOB (Commissione Nazionale per le Societa e la Borsa or Italian Companies and Exchange Commission) is the government authority controlling the foreign exchange markets in this country.
- The Slovenian ATVP (Agencija za trg vrednostnih papirjev or Securities Market Agency) is responsible for supervising forex providers in this market.
ETF Corp Offers Safe Trading Software?
Regarding trading software provided by ETF Corp, as expected, it is an insufficient trading platform, a web trader. That being said, it can’t meet the requirements for profitable trading because it lacks adequate functionality. When it is compared to modern trading programs like MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and Sirix, it lags behind. Unlike the ETF Corp trading program, the foregoing platforms ensure secure and successful trading thanks to their advanced tools such as stop loss, social trading, and expert advisors.
Mobile App for iOS and Android
Furthermore, the abovementioned programs can be accessed from any device (desktops, tablets, and smartphones). Speaking of mobile trading, for example, you can download the MT4 trading app on Google Play and Apple Store and enjoy trading on the go. In addition, the usefulness, performance, and features are the same on all devices. In contrast, the ETF Corp web trader is impractical for mobile trading as it is for trading on PCs. That means that ETF Corp trades can access this trading platform only via browsers, with no dedicated mobile trading application.
ETF Corp Range of Trading Markets
Concerning tradable assets available at ETF Corp, as any other broker scam, it gives empty promises of providing more than two hundred trading instruments, including the following.
- Currency pairs: USD/EUR, GBP/CHF, EUR/AUD;
- Commodities: metals (gold, silver, nickel), energies (natural gas, crude oil), and agricultural products (corn, wheat, sugar);
- Crypto: Bitcoin, Dogecoin, Tether;
- Stocks: Airbus Group, British American Tobacco, Chevron Corporation;
- Indices: CAC40, DAX30, NASDAQ100.
Even if you can trade on these markets, trading is rested on disadvantageous conditions. Also, since no one monitors and controls unlicensed brokerage services, ETF Corp can change its terms as it pleases.
What Do We Know About ETF Corp Account Types?
When it comes to ETF Corp trading accounts, there are three versions.
- Investor: minimum deposit 1,000 USD, 1:20 leverage;
- Trader: minimum deposit 25,000 USD, 1:50 leverage;
- Professional: minimum deposit 50,000 USD, 1:100.
Comparing these accounts, it comes to our attention that only holders of a professional account have access to the full set of trading instruments. In other words, a trader has to invest 50,000 USD to be allowed to trade with assets that every legit forex provider offers for less than 50 USD. This plain cheating is so typical of scam brokers.
ETF Corp – Countries Of Service
Despite numerous warnings, the ETF Corp broker continues to capitalize on people’s interest in forex trading. It has been around since 2016, scamming traders from
- France
- UAE
- Finland.
If you are a trader based in one of the aforementioned countries, you should know that every broker providing services in these markets must be certified by AMF (France), DFSA (UAE), and FIN-FSA (Finland). Thus, we urge traders to refrain from dealing with unauthorized brokerage firms.
Also, avoid the trading frauds Limit Markets,IndexEvolve, andGamma Capitalsat all costs! Moreover, before investing, always look into the past of internet trading firms!
What Is Known About ETF Corp’s Trading Conditions?
In relation to trading conditions at ETF Corp, they are predictably manipulated to entice traders. For example, its professional account comes with deposit insurance, 1:100 leverage, and ultra-low trading fees. First, no insurance is possible with an unlicensed business. Then, its leverage goes against the allowed ratio for retail traders, which is a huge financial risk. Finally, you have to put in a 50K minimum deposit to enjoy low trading commissions. This offer is an outrageous and apparent rip-off.
Minimum Deposit, Withdrawal Terms, and Fees
With reference to the minimum deposit here, as introduced, it is 1,000 USD. It is several times higher than what genuine brokers require. For instance, the opening balance with top-notch forex brokers is between 1 and 100 USD.
In connection to the payment methods accepted by this illegal broker, there are not many details about it. However, we assume that you can’t use safe funding methods like credit cards and bank transfers. More likely, it supports only crypto wallets, a common malicious tactic applied by fraudsters.
As for withdrawals, don’t expect that they are possible with financial swindlers. Its withdrawal terms are ambiguous, and it will find countless excuses to prevent you from drawing your funds out.
Scammed by ETF Corp Broker? – Let Us Hear Your Story
So, don’t believe ETF Corp reviews on the internet since they are fabricated to appear positive. Unlucky victims of this unscrupulous broker should act immediately. First, notify the relevant authorities and warn others about this trading scam. Then know that you can get your money back with professional help from chargeback specialists.
But What Is A Chargeback?
If you wonder what the chargeback is, briefly, it enables you to retrieve the funds. A chargeback process depends on the means of payment. It is straightforward with credit and debit cards because this form of payment is reversible. Just be aware of a 540-deadline with VISA and Mastercard.
Wire transfers are also safe; but if you confirm a transaction, it can’t be refunded. Lastly, crypto payments are considered the most challenging to charge back due to anonymity. For this reason, con artists insist on deposits through crypto wallets. Anyway, with cyber security experts, it is doable to reverse any means of payment. Apropos this, get in touch with our company for assistance.