East foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://user.east-century.com/register/email, about the company's legal and temporary regulatory information, the company's address .
East Forex Broker
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Basic Information
China
East Forex Broker - Comprehensive Information Guide
1. Overview of the Broker
East Century Group Limited, commonly referred to as East broker, was established approximately 2 to 5 years ago. The company is headquartered in China, and it operates primarily in the financial services sector, focusing on retail forex trading. As a private entity, East broker caters to a diverse clientele, including individual retail traders and institutional clients.
The company's development history is somewhat opaque, as little information is publicly available regarding its milestones. However, it is important to note that East broker operates under the name East Century Group Limited, which raises questions about its legitimacy, given that a British company with a similar name lacks the necessary licenses to operate as a forex broker. This suggests that East broker may not be a legally compliant entity.
East broker primarily engages in retail forex trading, offering various financial instruments including currency pairs, commodities, and indices. The business model appears to focus on providing trading services through popular platforms like MetaTrader 4 and MetaTrader 5, although it is crucial to approach this broker with caution due to its questionable regulatory standing.
2. Regulation and Compliance Information
East broker currently operates without any valid regulatory oversight. According to various sources, including WikiFX, the broker lacks a recognized license from any major regulatory body, which poses significant risks to its clients. The absence of regulation raises concerns about the company's transparency and operational integrity.
- Regulatory Bodies: East broker does not have any affiliations with major regulatory authorities such as the Financial Conduct Authority (FCA) or the Securities and Exchange Commission (SEC).
- License Numbers: No valid regulatory license numbers are available for East broker.
- Validity and Scope: There is no information indicating the effective period or scope of any licenses, as the broker operates without regulation.
- Legal Entities: The broker is registered as East Century Group Limited in China, but it does not disclose further details about its legal status.
- Client Fund Segregation Policy: Specific policies regarding the segregation of client funds are not disclosed, which is a significant red flag for potential investors.
- Investor Compensation Fund Participation: East broker does not participate in any investor compensation schemes, further increasing the risk for clients.
- KYC and AML Compliance Measures: There is no information available regarding the broker's adherence to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which is essential for ensuring the legitimacy of financial transactions.
3. Trading Products and Services
East broker offers a range of trading products, primarily focusing on forex and CFDs. The following details outline the available trading instruments:
- Forex Currency Pairs: East broker provides access to a variety of currency pairs, although the exact number is not specified. Major pairs such as EUR/USD and GBP/USD are typically included.
- CFD Product Categories: The broker facilitates trading in various CFDs, including indices, commodities, and potentially cryptocurrencies, although specific details are scarce.
- Special Products: There is no information available regarding any unique or proprietary trading products offered by East broker.
- Product Update Frequency: The frequency of product updates and the introduction of new trading instruments are not disclosed.
- Retail Trading Services: East broker primarily targets retail traders, offering them a platform to engage in forex trading.
- Institutional Client Services: There is no indication that East broker provides specialized services for institutional clients.
- White Label Solutions: The broker appears to operate as a white label provider, although specific details are not available.
- Asset Management Services: Information regarding any asset management services is not provided.
4. Trading Platforms and Technology
East broker supports the widely-used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are known for their robust features and user-friendly interfaces. The following details summarize the technological aspects of East broker:
- MetaTrader Support: East broker provides access to both MT4 and MT5, allowing traders to utilize advanced charting tools and automated trading features.
- Proprietary Platform Details: There is no indication that East broker has developed its own proprietary trading platform.
- Web-Based Trading Platform: Specific details about a web-based trading platform are not available.
- Mobile Applications: The broker likely supports mobile trading applications for both iOS and Android, although specific functionalities are not detailed.
- Execution Model: The broker's execution model is not clearly defined, raising concerns about the type of order execution (e.g., ECN, STP, Market Making).
- Server Locations and Infrastructure: Information regarding the server locations and underlying technological infrastructure is not provided.
- API Access and Automated Trading Support: There are no details available on the availability of API access or support for automated trading strategies.
5. Account Types and Trading Conditions
East broker offers various account types to cater to different trading needs, although specific details are limited:
- Standard Account Conditions: The minimum deposit requirement, spreads, and commission structures are not clearly defined.
- Advanced Account Types: Information about premium or VIP account types is not available.
- Special Accounts: There is no mention of special account types, such as Islamic accounts or corporate accounts.
- Demo Account Policy: The broker may offer a demo account for practice, but details are not specified.
- Leverage Ratio Range: East broker reportedly provides leverage up to 1:100, which is relatively high compared to regulated brokers.
- Minimum Trade Size: The minimum trade size is not disclosed.
- Overnight Fees Policy: Information regarding overnight fees or swap rates is not provided.
6. Fund Management
East broker supports various deposit and withdrawal methods, although specific details are lacking:
- Supported Deposit Methods: The broker likely accepts bank transfers, credit cards, and electronic wallets, but specific payment options are not confirmed.
- Minimum Deposit Requirements: The minimum deposit requirements for different account types are not disclosed.
- Deposit Processing Times: Information regarding the time taken to process deposits is not available.
- Deposit Fees: There is no information on any fees associated with deposits.
- Withdrawal Methods and Restrictions: Details about withdrawal methods and any limitations are not provided.
- Withdrawal Processing Times: The processing time for withdrawals is unclear.
- Withdrawal Fee Structure: Information regarding any fees associated with withdrawals is not disclosed.
7. Customer Support and Educational Resources
East broker provides customer support through various channels, although specific details are limited:
- Support Channels: The broker likely offers support via phone, email, and online chat, but specific contact information is not provided.
- Service Hours and Time Zone Coverage: Information about service hours and time zone coverage is not available.
- Multilingual Support: It is unclear which languages are supported for customer assistance.
- Types of Educational Resources: East broker may provide educational resources such as webinars, tutorials, and eBooks, but specific offerings are not detailed.
- Market Analysis Services: Information regarding daily analysis, news, and research reports is not available.
- Trading Tools: The availability of trading tools such as calculators, calendars, and signal services is not specified.
8. Regional Coverage and Restrictions
East broker's regional coverage and limitations are not extensively documented:
- Primary Service Markets: The broker primarily serves clients in China, but specific markets are not detailed.
- Regional Offices Distribution: Information about the distribution of regional offices is not provided.
- Countries/Regions Not Accepted: There is no information about countries or regions from which clients are not accepted.
- Special Restrictions: Specific restrictions that may apply to certain regions are not disclosed.
In conclusion, while East broker offers a range of trading services, the lack of regulatory oversight and transparency raises significant concerns for potential clients. It is essential for traders to conduct thorough research and carefully consider their options before engaging with this broker.
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Latest Reviews
Jacky Chen99152
Taiwan
$2,000 has been required to activated the VIP account before I withdraw funds
Exposure
2021-05-08
Dr Hii
Malaysia
The price of crude oil was from 66.87 to 69.67 at 13:44 of June 2, 2021. But then the price fell to 68.16(Open price was 69.67, the highest price was 69.70 and the lowest was 68.11, closing price was 68.16). My position was liquidated just within two minutes! I sold short at 13.40 with the price of 66.92 but the liquidation price is 69.69. What a coincidence! I compared the candlestick here with other’s. However, they are totally different. 69.69 was never hit. I believed that this is a fraud broker! If you used some other brokers, you can open the MT4/5 and see the chart. But you should see the price of two hours ago, cuz the price in EastCenturyGroup mt5 is 2-hour late. I applied for withdrawal in the afternoon of the same day. The customer service said it would took24 hours to handle the first withdrawal. But they made my positions wiped out at that night! It’s just a coincidence? My heart is broker... Stay away from the low-score broker! I think there are many other victims like me!
Exposure
2021-06-02
FX2243631193
Taiwan
I deposited 30,000 but lost all of it. Stay away from it.
Exposure
2021-09-28
FX1169078433
Malaysia
after i requested for withdrawal, weirdly my position suffered a severe slippage. if you look at pictures attached below, my trading for the past few days has been going smoothly. up until i loss $13k usd on a single trade!
Exposure
2021-09-24
FX30059629787
Taiwan
Unable to withdraw. Please help.
Exposure
2021-09-17
Brad Adams
Australia
Try to withdraw and was told if I didn’t have my trading account above $50,000US I had to pay Profit tax!!! This is what they told me:- “Hello, sir, I have checked that your withdrawal amount is 39000 USD, and your withdrawal funds, I have checked that your funds have not reached the tax exemption standard of our exchange, and the tax exemption standard of our exchange is 50,000 USD. Then they wanted verification funds of 5% of the withdraw from the account the withdraw is to be deposited into.
Exposure
2021-04-16