ELE-Trader review with feedback: regulation and license, activity analysis
Investment Assistance: ELE-Trader in Numbers
Do you want to try yourself in the financial markets with just one click? The company ELE-Trader claims that over 190 thousand traders have entrusted their funds to it for 4 years of its operation. These figures are impressive, but there is no compelling evidence of the broker’s honesty and safety. Reviews from real clients and analysis of ELE-Trader’s terms and legal documents are not available. Therefore, the situation requires correction, as this intermediary cannot be trusted.
ELE-Trader’s Official Paperwork: License and Regulation
It was previously mentioned that ELE-Trader published impressive figures about its activities. However, the domain was registered only in October 2013, which contradicts the claim of a 4-year experience in the market. There is no information about the company in the web archive, indicating that the site was likely inactive. It seems that the actual activity started with the platform update in April 2021, explaining the absence of reviews.
According to data, ELE-Trader’s headquarters is located in Uelzen, Germany, at Hinrich-Konrad-Gasse 56 40131. However, the company does not provide evidence of registration in Germany and is not licensed by the local regulator BaFin. Instead, the site mentions approval from three other supervisory authorities:
- FSCA (Mauritius) – No. 56/856/79/25,
- ASIC (Australia) – No. 583/24,
- FCA (United Kingdom) – No. 2586/42-82.
Verification of the mentioned licenses showed that none of the mentioned authorities issued permission for the company’s operations. The situation with the Central Bank of Russia is similar, where ELE-Trader is not among the licensed organizations, making its activities on the territory of the Russian Federation illegal.
ELE-Trader’s Offers: Conditions Analysis
ELE-Trader offers access to 180+ assets, including CFDs on commodities, indices, stocks, and metals. There is no demo account, so be prepared to use real funds. The company provides three types of trading accounts:
- Standard. Initial deposit – from $150, with leverage of 1:100;
- Gold. Minimum deposit – $1,000, with leverage of 1:500 and access to cryptocurrency trading;
- Platinum. Starting deposit – $10,000, with deposit protection and 24/7 support.
The company does not specify spreads and swaps on its platform, but offers high leverage, which can lead to financial risks on a manipulated platform.
Reviews about ELE-Trader
Due to the company’s recent start, there are not many reviews yet. However, users are actively searching for information online. If you have experience working with ELE-Trader, share your opinion to form a more objective picture. Post reviews below the material.
ELE-Trader’s Fraud Methods
ELE-Trader is a questionable company with a typical fraud scheme. It attracts novices with promises, access, and margin trading, only to deprive them of their funds through account blocking, deposit draining, or fake charges. The result is always the same – financial losses.
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Conclusion
Avoid collaborating with ELE-Trader to avoid losing your money. This company is engaged in illegal activities and has no intention of changing. Do not become a victim of scammers, warn others!