Emar Markets Forex Broker
Basic Information
South Africa
2-5 years Regulated in South Africa Financial Service Corporate MT5 Full License Suspicious Overrun High potential riskCompany profile
Rating Index
Pros
Multiple account type options catering to different trading preferences.
Low minimum deposit requirement of just $1, making it accessible for beginners.
Supports expert advisors (EAs), allowing for automated trading strategies.
Cons
Lack of proper regulation raises concerns about the safety of funds and overall trustworthiness.
Customer support has been reported to have long waiting times, which can be frustrating for users.
Multiple negative reviews and complaints about withdrawal issues and account management practices.
Emar Markets Forex Broker - Complete Information Guide
1. Broker Overview
Emar Markets, established in 2022, operates as a retail forex and CFD broker. The company is headquartered in Cape Town, South Africa, specifically located at First Floor, Kildare Centre, Newlands, Cape Town 7700. Emar Markets is a privately held entity that primarily serves individual retail traders and aims to provide access to various financial instruments, including currency pairs, commodities, indices, and cryptocurrencies.
Since its inception, Emar Markets has positioned itself as a competitive player in the forex trading industry, offering features such as high leverage options and multiple account types to attract a diverse clientele. The broker claims to hold a license from the Financial Sector Conduct Authority (FSCA) in South Africa, although this assertion requires further verification as the FSCA has not disclosed the website address of the licensee.
Emar Markets operates under a No Dealing Desk (NDD) model, which allows for direct market access and aims to provide a transparent trading environment. The broker promotes itself as a user-friendly platform for both new and experienced traders, emphasizing its commitment to supporting clients in their trading endeavors.
2. Regulation and Compliance Information
Emar Markets claims to be regulated by the National Futures Association (NFA) in the United States and the FSCA in South Africa. The regulatory number associated with the FSCA is 53070. However, upon verification, it has been noted that Emar Markets is not listed as a registered entity with these regulatory bodies, raising concerns about its regulatory compliance.
The broker's operational framework lacks the necessary regulatory oversight, which translates to potential risks for investors, including the absence of investor protection measures. Additionally, there are no clear indications regarding the segregation of client funds or participation in an investor compensation fund.
Emar Markets states that it adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, although specific details about these policies are not extensively documented in available resources. This absence of detailed information may lead to questions about the broker's commitment to maintaining regulatory standards.
3. Trading Products and Services
Emar Markets offers a diverse range of trading products, including:
Forex Currency Pairs: The broker provides access to approximately 35 currency pairs, encompassing major, minor, and exotic pairs. This variety allows traders to engage in comprehensive forex trading.
CFD Product Categories: Emar Markets enables trading in various CFDs, including:
Indices: Global indices such as the S&P 500 and Dow Jones.
Commodities: Precious metals like gold and silver, as well as energy products.
Stocks: A selection of popular stocks from various markets.
Cryptocurrencies: Offers trading in major cryptocurrencies, although specific details about the available cryptocurrencies are not provided.
The broker aims to keep its product offerings updated, although the frequency of new product introductions remains unspecified. Emar Markets caters primarily to retail clients, providing a platform that facilitates straightforward trading experiences. There is currently no indication of services aimed at institutional clients or white-label solutions.
4. Trading Platforms and Technology
Emar Markets supports the cTrader trading platform, which is known for its user-friendly interface and advanced features. While the broker claims to offer MetaTrader 4 (MT4), it is essential to verify the availability of this platform, as some sources indicate that it may not be supported.
Key features of the trading platforms include:
Web-Based Trading: Emar Markets provides a web-based trading platform, allowing users to trade directly from their browsers without the need for downloads.
Mobile Applications: The broker offers mobile apps for both iOS and Android devices, ensuring that traders can manage their accounts and execute trades on the go.
Execution Model: Emar Markets operates on an ECN/STP execution model, which is designed to provide direct access to market liquidity without interference from a dealing desk.
Server Locations and Infrastructure: Specific details regarding server locations and the technological infrastructure supporting the trading platforms are not extensively documented.
API Access and Automated Trading Support: Information about API access and support for automated trading strategies is limited, indicating a potential area for further development.
5. Account Types and Trading Conditions
Emar Markets offers various account types to cater to different trading needs:
Standard Account Conditions: The minimum deposit requirement starts at $1, with variable spreads and no explicit mention of commissions.
Advanced Account Types: There are indications of higher-tier accounts, but specific details regarding VIP or professional accounts are not provided.
Special Accounts: The availability of Islamic accounts or corporate accounts has not been confirmed.
Demo Account Policy: Information regarding the provision of demo accounts for practice trading is not clearly outlined in the available resources.
Leverage Ratios: Emar Markets offers leverage up to 1:3000, which is significantly higher than many regulated brokers. However, traders should be cautious as high leverage can amplify both profits and losses.
Minimum Trade Sizes: The broker allows a minimum trade size of 0.01 lots, making it accessible for traders with smaller capital.
Overnight Fees Policy: Specific details about overnight fees or swap rates are not provided, which could be a concern for traders who hold positions overnight.
6. Funds Management
Emar Markets supports various deposit methods, including:
Deposit Methods: Options include bank transfers, credit cards, e-wallets (such as Neteller and Skrill), and cryptocurrencies (like Bitcoin and Tether).
Minimum Deposit Requirements: The minimum deposit varies by account type, starting as low as $1 for standard accounts.
Deposit Processing Times: Deposits via credit card are typically processed instantly, while bank transfers may take 2-5 business days.
Deposit Fees: The fee structure for deposits is not clearly outlined, which may pose transparency issues.
Withdrawal Methods and Restrictions: Withdrawals can be made through similar methods as deposits, but specific limitations or fees associated with withdrawals are not detailed.
Withdrawal Processing Times: Withdrawal requests may take 24 hours for e-wallets and up to 5 business days for bank transfers.
Withdrawal Fee Structure: There are indications of high withdrawal fees, sometimes reaching 20%, which could deter traders from accessing their funds.
7. Customer Support and Educational Resources
Emar Markets provides multiple support channels for its clients:
Support Channels: Customers can reach support via email, social media (Facebook and Instagram), and potentially through online chat, although the responsiveness of these channels is not guaranteed.
Service Hours and Time Zone Coverage: Specific service hours are not documented, which may affect clients in different time zones.
Multilingual Support: The broker supports English, but the availability of other languages is not specified.
Educational Resources: Emar Markets offers limited educational resources, with no clear mention of webinars, tutorials, or eBooks.
Market Analysis Services: The availability of daily market analysis, news updates, or research reports is not explicitly stated.
Trading Tools: There is no detailed information on the availability of trading tools such as calculators, economic calendars, or signal services.
8. Regional Coverage and Restrictions
Emar Markets primarily targets the following markets:
Major Service Markets: The broker aims to serve clients globally, but specific regional restrictions are not clearly outlined.
Regional Office Distribution: Information regarding regional offices or local support teams is not provided.
Countries Not Accepted: The broker does not accept clients from certain jurisdictions, although specific countries are not listed.
Special Restrictions: There are no detailed descriptions of any special restrictions that may apply to specific regions or countries.
In conclusion, while Emar Markets presents itself as a competitive forex broker with a range of appealing features, potential clients should approach with caution. The lack of clear regulatory oversight, combined with numerous reports of withdrawal issues and negative user experiences, suggests that thorough research and consideration are necessary before engaging with this broker. As always, it is advisable to trade with regulated brokers to ensure the safety of your investments.
Emar Markets Similar Brokers
Latest Reviews
FX2314938480
Malaysia
My withdrawal applications were always delayed for half a month by "data review." The Malaysian customer service representative recommended that I open a "priority channel," saying, "Pay a 50,000 deposit, and the channel will be open, with data review completed in seconds and funds arriving within 2 hours." I believed them and transferred the 50,000 I was saving for my mortgage. After three days, the channel still wasn't open, and my withdrawal application was still stuck on "data review." I contacted customer service, and they said, "Your deposit data hasn't synced yet. Wait another three days." After another three days, still no response, I sent another message, only to find I'd been blocked! I couldn't reach the platform's complaint phone number, and no one responded to messages on the official website! I later learned there was no such thing as a "data-first withdrawal channel"—it was simply a scam to trick users into depositing more money.
Exposure
09-06
FX3078448851
Malaysia
When I first submitted a withdrawal request to Emar Markets, the Malaysian customer service representative said, "Your account data doesn't match your identity information very well. You can pass the verification by paying a 2,000 yuan verification fee, and the funds will be credited to your account within 12 hours." After waiting 24 hours with no response, I asked again, and they said, "Data verification is being upgraded, and you need to pay an additional 3,000 yuan advanced verification fee, otherwise your funds will be frozen!" Within two days, they added, "The system has detected traces of overseas data in your account. You must pay a 5,000 yuan cross-border verification fee, otherwise your withdrawal request will be permanently rejected!" I asked for a refund of the "verification fee," but they bluntly said, "The verification fee has been used for data verification and is non-refundable!" They also threatened, "If you cause trouble again, your account will be frozen!"
Exposure
09-06
FX1043948252
Malaysia
When I first submitted a withdrawal request, the Malaysian customer service representative said, "The system detected that your account is only linked to a bank card, and the data correlation is insufficient." They then sent me a "data correlation rule," stating that the "value of the linked assets must be ≥ 1.5 times the withdrawal amount." They also threatened me, "If you don't link within three days, your account will be marked as 'high risk' and your principal will be frozen!" I argued with them, saying I didn't have any real estate or stocks, but the representative said, "You can first transfer 100,000 yuan to the platform's 'asset custody account' as a temporary correlation, and then refund it after you withdraw the funds!" Only then did I realize it was a scam! I asked for a direct withdrawal, but they bluntly said, "The data correlation requirements are not met, and your withdrawal request is rejected!"
Exposure
09-06