evest
Pros and Cons
Pros
- 500+ trading instruments across various asset classes
- Leverage up to 1:400 available for traders
- Diverse payment methods supported for deposits and withdrawals
- 20% bonus offered for new users
- Access to MT4 and MT5 trading platforms
Cons
- No valid regulatory oversight
- Limited trading platform options (no MT4/MT5)
- Absence of demo accounts for practice
- High potential for withdrawal issues
- Insufficient information on account types and fees
Basic Information
User Reviews
evest Overview
Founded in 2020 and headquartered in Vanuatu, evest is a forex broker that operates without formal regulatory oversight. The broker does not have a license from any major financial authority, which raises concerns regarding safety and trustworthiness. Despite its unregulated status, evest claims to offer a diverse range of trading services to its clients, including access to over 500 trading instruments, although specifics about these offerings can be limited. The lack of regulation should be a significant consideration for potential traders when evaluating this broker’s credibility.
Is evest Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| VFSC | Vanuatu | No valid fund protection measures |
Is evest Regulated and How Are Client Funds Protected?
evest is not regulated by any recognized financial authority, raising concerns regarding its legitimacy as a broker. Operating under the VFSC in Vanuatu, the broker lacks valid regulatory oversight, which typically ensures investor protection and transparency. As a result, client funds are not guaranteed to be protected, and there are no investor compensation schemes in place. This lack of regulation exposes traders to higher risks, including potential fraud and mismanagement of funds. Traders should be cautious and consider these factors seriously before engaging with evest.
Trading Products and Services
What trading instruments does evest offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/NZD | 50+ |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Many |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Many |
| Stocks | Apple, Tesla, BP, Vodafone | 100+ |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Varies |
evest provides a diverse range of trading instruments, catering to various trading styles and preferences. With offerings in Forex, commodities, indices, stocks, and cryptocurrencies, traders can build a well-rounded portfolio. This variety is essential for both beginners exploring the markets and seasoned professionals seeking advanced trading strategies. The availability of multiple asset categories enhances opportunities for diversification and risk management, making evest a flexible choice for different investor profiles. Whether you are looking to trade Forex or explore the stock markets, evest aims to meet the diverse needs of its users, facilitating informed trading decisions.
Account Types and Trading Conditions
What Account Types and Fees Does evest Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low minimum deposit, user-friendly platform | Suitable for small-capital practice |
| Professional Account | Experienced traders | Higher leverage, advanced trading tools | Requires trading volume qualifications |
| Corporate Account | Businesses and institutions | Customized services, dedicated account manager | Requires corporate documentation |
| Islamic Account | Clients adhering to Islamic finance principles | Swap-free trading options | Must provide relevant documentation |
| Demo Account | All traders for practice | No risk environment, virtual funds | Not available at this time |
Account Opening Process
To open an account with evest, users must follow these steps: first, submit personal information, including name, address, and contact details. Next, provide employment and financial information to assess suitability for trading. Identity verification is crucial, requiring a government-issued ID and proof of address, such as a utility bill. Once the application is processed, users can enjoy flexibility in their accounts, including the option to upgrade to a professional account in the future as their trading experience grows.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (USD/JPY) | 1.0 | $0 (ECN: $3.5/lot) | Competitive pricing |
| CFDs (Stocks) | 1.5 | $0 (ECN: $2.0/lot) | Variable spreads based on stock |
| CFDs (Indices) | 0.5 | $0 (ECN: $3.0/lot) | Includes major indices |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market volatility |
Other Fees
In addition to trading fees, traders should be aware of other costs associated with their accounts. Deposit and withdrawal fees may apply depending on the payment method chosen. Inactivity fees can be charged if an account remains dormant for an extended period. Platform usage fees may be applicable for certain features or services. Overnight interest, also known as swap rates, may affect positions held overnight, and currency conversion fees can apply when trading assets in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does evest Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4 | Windows, macOS | 2FA, symbol lookup, multiple order types, price alerts, technical indicators | None |
| MT5 | Windows, macOS | Encryption, advanced market analysis, multiple order types, push notifications | None |
| Web Version | All browsers | Biometrics, market search, one-click trading, economic calendar | None |
| Mobile App | iOS, Android | Encryption, symbol lookup, multiple order types, push notifications | None |
The MT4 platform is ideal for traders looking for a robust interface with a focus on technical analysis, while MT5 offers advanced features suitable for more experienced traders. The web version caters to users who prefer flexibility without downloading software, and the mobile app provides convenient trading capabilities on the go. All platforms emphasize secure logins and efficient tools for market searching, order execution, and real-time alerts, enhancing the overall trading experience.
evest’s offerings support mobile trading through its dedicated app and web version, ensuring users can access their accounts from various devices. The platforms are designed to provide fast order execution and robust security measures, making trading accessible and secure for users.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1-3 business days | No platform fee, 0.2% third-party fee | Min 100, Max 50k/day | EUR |
| GrabPay | Instant | No platform fee, 1% charge | Min 50, Max 5k/day | MYR, SGD |
| SPEI | Instant | No fees | Min 100, Max 30k/day | MXN |
| Bank Transfer | 3-5 business days | No platform fee, 1.5% for international transfers | Min 200, Max 20k/day | USD, EUR |
| Cryptocurrency | Instant | No fees | Min 50, Max 10k/day | BTC, ETH |
Minimum Deposit
evest requires a minimum deposit of $100 to open a trading account. This amount may vary depending on the payment method chosen; for instance, cryptocurrency deposits can start as low as $50, while bank transfers require a minimum of $200. Additionally, account types may influence the minimum deposit requirement.
How to Withdraw
To withdraw funds from your evest account, follow these steps:
- Log into your evest trading account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred payment method from the available options.
- Enter the amount you wish to withdraw, ensuring it meets the set limits.
- Confirm your withdrawal request and review all details before submission.
- You will receive a confirmation email once your request is processed.
Customer Support
evest Customer Support Overview
Support Channels
evest offers multiple contact methods to ensure that customers receive the help they need efficiently. These include:
- Email: Customers can reach out to support@evest.com for any inquiries or assistance.
- Live Chat: For immediate support, users can utilize the live chat feature available on the website.
- Telephone: Customers can contact support through the following numbers: +966 8008-501-019 and +971 800-0311-1248.
- Social Media: evest maintains a presence on various social media platforms, providing another avenue for customer contact and support.
Service Availability
evest’s customer support services are available 24/5, ensuring that help is accessible during the trading week. While specific hours may vary, customer support representatives are ready to assist during standard market hours. Additionally, multilingual support is available, catering to a diverse clientele.
Additional Resources
To enhance user experience, evest provides various educational resources, including video tutorials, market analysis reports, and trading signals, which can be beneficial for both novice and experienced traders.
evest emphasizes strong customer service, aiming to provide prompt assistance and valuable resources to help users navigate their trading journey successfully.
Frequently Asked Questions
evest claims to implement various security measures to protect client funds, including the use of segregated accounts to separate client deposits from the company’s operational funds. However, it is important to note that evest is currently unregulated, which may pose additional risks regarding fund security.
While evest offers a range of trading instruments and leverage options, detailed information regarding account types, trading fees, and spreads is limited. Clients are encouraged to contact customer support directly for specific inquiries or to review the terms outlined in the client agreement before proceeding.
evest operates under a license from Vanuatu, but it currently lacks valid regulatory oversight from recognized financial authorities. This means clients should exercise caution and conduct thorough research before trading, as unregulated brokers may involve higher risks.
evest offers a proprietary trading app designed for user-friendly access to trading instruments. However, some clients have reported issues with customer service responsiveness and limited educational resources. It is advisable for potential users to explore the platform and seek reviews from current users to gauge overall satisfaction.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.