Eiro-group Forex Broker

GENERAL INFORMATION The offshore nation of Eiro-Group is a dubious broker and is regarded as a tax shelter. It is well renowned for its inadequate financial regulation, and the local body SVGFSA doesn't even issue licenses or exercise oversight over the brokers who are legitimately present there. As a result, the island is teeming with con artists and shady investment firms looking to fleece traders and investors of as much money as they can. If you deposit money with Eiro-Group, it's not safe because it's an unlicensed offshore company. TRADING SOFTWARE We'll concentrate on the most ludicrous trading circumstances we've ever encountered in this area. The platform of the Eiro-Group, however, is web-based and offers no distinguishing features over the MetaTrader distributions. The program is actually woefully out of date in terms of capability, as well as being difficult to use, confusing, and just unattractive. You should thus click the offered links to view the top-rated MetaTrader4 and MetaTrader5 brokers. Because MetaTrader is the top retail FX platform offering advanced trading tools like Expert Advisors, Algo Trading, and several complicated indicators, we highly suggest them. Additionally, the site has a store where you may find more than 10,000 useful apps. SPREAD Amazingly, the EUR/USD spread is 240 pips, which is 240 times worse than what is expected of authorized brokers. We repeatedly refreshed in the hopes that it was a prank, but nothing changed. Since the spread is a component of trading expenses, lower rates are advantageous and greatly enhance trading conditions. The majority of authorized brokers have spreads as low as 1 pip and lower, thus a buy/sell difference of 240 pips is absurd. You won't be able to generate any revenue at all. LEVERAGES Additionally, the leverage offered is ridiculous. Eiro-Group does not even provide leveraged trading; the only level we could access was 1:1. The broker has established an odd trading atmosphere, which is suspicious and a good reason to avoid them. Given the importance of leverage in trading, we'll discuss some fundamental rules and offer further lists of brokers. MINIMUM DEPOSIT The minimum deposit amount with Eiro-Group is €500, which is about six times greater than the typical threshold of $100 for authorized brokers. According to the claims, wire transfers and credit/debit cards are the funding options. Both are commonly accepted by brokers, but bank card deposits are thought to be the safest choice because it's possible to receive a refund if something goes wrong within a reasonable amount of time. PAYMENT METHOD If you have a favorite payment method, check out these brokers who accept Skrill, Neteller, FasaPay, Sofort, and Bitcoin. You won't encounter con artists because the highly rated brokers on the listings adhere to tight regulations. MINIMUM WITHDRWAL Regarding withdrawal, fees, or request processing times, there is no information. However, you must pay a $250 penalty charge if you wish to withdraw but haven't even placed a transaction. This is very unjust. However, if you accept a bonus from the broker, things might grow worse. To be qualified for a withdrawal in such a situation, you must accomplish a minimum trading volume of 500 times the bonus, which is still another egregiously unjust demand. In reality, the trading incentives in this situation essentially lock the trading account, and the cunning broker automatically adds a bonus everytime new account is established. That is proof of deception. INACTIVITY FEE Additionally, the inactivity costs are unfair. The account goes dormant and will be charged $50 after just 90 days. It's unclear how they collect such fees—monthly, yearly, etc.—because of the confusing language they provide. ACCOUNT TYPES The six alternatives available under the Eiro Group account offer are basic, silver, gold, platinum, diamond, and millioner club. The brand ensures that even traders with less capital may register an account and begin trading in this way. The loyalty bonus, special updates, trading signals, daily market evaluations, help from account managers, and other premium services including money management, a team of analysts, and savings accounts are among the most noteworthy trading features. The account type selected will largely determine who has access to these perks. Customers that deposit more money are rewarded by Eiro Group with improved trading perks.