Beware! Evom-Ltd.com is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Evom-Ltd or Evolutions Markets Ltd, from here on out referred to as Evom-Ltd.com, is what you might call your typical example of a shady broker. Que the copy-paste nature of the website, the empty promises, the unreliable trading and payment condition, etc. But, you may ask, why so much skepticism when the website seems so natural? Well, the answer is that fraudulent brokers are masters of deception, and some websites are proof of this. Evom-Ltd.com is one such website, but not for long, for we will break it into pieces and reveal what this brokerage truly is made of.
We went to the registration area, which seemed very familiar to us, and then we remembered that we had reviewed a previous scammer broker with the exact same one, and opened a micro account type. The user area was equally familiar and shady, while our inability to open a trading software was also not a first. The reason for this was because the broker would not give us a password for the available web trader, of which there is one, we confirm it.
Thus we have no choice but to take all the trading details from the website. There might be inconsistencies with these details, so please be aware of this.
The average spread is around 1 pip, while the leverage is maxed out at 1:500. We believe that the available trading assets are stocks, indices, forex currency pairs, bonds, ETFs, and cryptocurrencies, yet we cannot vouch for these. Again, take this info with a grain of salt, for we cannot prove how accurate it actually is!
English, Italian, and Dutch are the languages of the website.
EVOM-LTD.COM REGULATION AND SAFETY OF FUNDS
There is no information a license or a jurisdiction. This is always a very indicative move, as it reveals that the broker stands for nothing but its selfish goals, which mainly include the theft of users’ investments.
The broker is also blacklisted by the Spanish National Securities Market Commission (CNMV), which immediately tells us that it is most probably a scam!
The lack of any clue of a license means that the broker does not have a license- it’s as simple as that. While the CNMV warning is also pretty indicative. Therefore, this brokerage is completely UNREGULATED, and therefore a risk to all traders. All investments are at a risk, and so are all the ID documents provided!
There is no reason whatsoever to invest in an unregulated broker. You will be faced with a ton of issues and will waste your time, not to mention money. Best rely on FCA or CySEC regulated entities, although any broker regulated by a legit agency will do. The crucial thing is to always make sure if the current broker you are willing to invest in has a license. Investing in a regulated broker will not only bring you safety and security, but it may also give you an advantage. For example, both the FCA and CySEC have a financial compensation scheme, each, meaning that they will pay back users who cannot get their money back from their broker, due to the latter’s insolvency or any other monetary issue. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
EVOM-LTD.COM TRADING SOFTWARE
The resemblance between this web trader and the MT4 is uncanny, yet this one cannot even fill one shoe of the MT4, let alone two. In any case, we do praise the broker for at least including a platform, albeit a sloppy one.
From what we can see, it seems that this one has quite a bit of customizable option, but nothing more, really.
EVOM-LTD.COM DEPOSIT/WITHDRAW METHODS AND FEES
The user area gives us only one deposit option: through a bank transfer. The same is said of the withdrawal area. Aside from this, we learn nothing else from the user area, meaning that we have to rely on the website and the Deposit & Withdraw Policy.
The minimum deposit is $100 and the alleged payment methods are credit/debit cards, wire transfer, and some unknown e-wallets.
The typical withdrawal processing time is 2 to 5 days. The Deposit and Withdrawal policy explicitly reveals that there are withdrawal handling fees, which have not been revealed, as is typical of scammer brokers.
The Non-Deposited Funds clause is the epitome of the unlicensed brokers. Because of this clause the user cannot withdraw any funds made from trading. So what’s the point of investing in the broker then?
This clause once and for all staples this broker as a scam and a complete risk to all invested funds! Don’t deposit here!
How does the scam work?
The scam is simple, and it can be sub-divided into a couple of steps.
The first one is actually falling for the scam. This happens when a user clicks on an ad that promises any of the following: an unrealistic profit gain; luxurious items and houses; a carefree lifestyle; and anything and everything in-between these. It’s easy to see why so many still fall for investment scams.
Next, the client will be asked to provide an email, or a phone number, or both. These are essential for the scam, as they will be used by the fraudsters to contact you in the next step.
Which is actually to convince users to deposit. Some might throw themselves in, while others might be more skeptical. It is the job of the scammers to make up the minds of the skeptical bunch. Once a first deposit is made, the user has lost her first deposit!
The final step is simple. The pers have solicited an initial deposit; now they want as many investments as possible until the client realizes the true nature of it all. Once this happens, the broker will block all withdrawals.
What to do if scammed?
File for a chargeback if you have used a credit or debit card to pay the scammers! MasterCard and VISA have a chargeback period of 540 days.
Call your bank if the transaction happened through a wire transfer. And make sure to change your bank account user name and password ASAP!
Unfortunately, crypto deposits are lost and cannot be retrieved. That is why we urge readers to never deposit through any crypto method!
And let us not forget NOT to trust the recovery agencies or agents who are also just as fraudulent as the investment scammers, sometimes even more!
Rich Snippet Data