Alleged Links to Reputable Firms Lacking Evidence
The website of the brokerage, evermarketsefex.com, purports to be managed by Ever-long Capital Management Ltd, a firm allegedly regulated by Hong Kong’s financial authority, the SFC. This entity is claimed to be a subsidiary of Styland Holdings, also known as the Styland Group.
However, there appears to be no verifiable link between evermarketsefex.com and these established companies. Neither Ever-long Capital Management Ltd nor Styland Holdings publicly acknowledge managing this specific website. The claim of association seems to originate solely from the trading site itself.
Additionally, the website’s exclusive availability in Spanish raises further doubts about the authenticity of its claims. Given the lack of concrete evidence beyond the broker’s own assertions, it seems plausible that the site may have arbitrarily chosen the name of a legitimate entity to fabricate a sense of credibility.
Suspected Fraudulent Operations
Launched in September 2023, as indicated in the WhoIs registry, evermarketsefex.com appears to primarily target individuals in Spain, Germany, and Bulgaria. The operation closely resembles the tactics used in the Trillium Financial Broker scam, involving boiler room agents who use persuasive, yet vague promises to extract money from unsuspecting victims.
The scam usually starts with a small investment, escalating as the fraudsters aim to extract as much money as possible. Recovering lost funds often requires professional intervention.
Misleading Reviews to Manipulate Investors
Similar to the VirtualPayout scam, this fraudulent forex service reportedly employs paid networks to publish deceptive reviews on online platforms, including TrustPilot. Despite an influx of fake positive reviews, critical evaluations of the company’s services are increasingly surfacing.
Trading Terms and Risks
Operating without regulatory oversight, the broker sets trading conditions that would typically be unacceptable under strict regulatory standards. For example, it offers an unusually high maximum leverage of 1:3000. Such leverage can lead to rapid financial losses, coupled with higher than average fees. The platform’s standard spreads on major Forex pairs, like EUR/USD, are set at 2 pips, significantly higher than the industry norm of under 1 pip.
Promotional Offers and Cashback Schemes
At the time of this review, there were no active promotions. However, the company claims to offer them periodically. It also promotes a loyalty program with a discount scheme. Participants in this program can accumulate bonus points (ALPs), which can later be redeemed. The program also offers discounts and refunds on funding fees, exchange rates, and swap redemptions.
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