Reported Website: https://www.egmarkets.trade/
Egmarkets is not a reliable broker even though it states offers that look good to be true. Egmarkets claims it is a trading name of Eagle GM Limited, a company registered in Nigeria with registration number: RC1322866. However, as per the information we hold, Nigeria does not have any authorities that issue licenses for forex brokers or regulate forex activities. Besides, Egmarkets mentions two subsidies of Eagle GM Limited are registered in the Companies House of the United Kingdom (CH). We do find match results to the two subsides in CH. However, CH is the United Kingdom’s registrar of companies which has no legit rights to regulate any forex activities. Having registration does not mean having any regulation. As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK financial regulator – FCA. However, we did not find any match results to Egmarkets in FCA. That means Egmarkets is not overseen by any regulators. Investors’ funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
