evest Forex Broker
Basic Information
United Kingdom
5-10 years Regulated in South Africa Regulated in Vanuatu Forex Trading License (EP) MT5 Full License Self-developed High potential risk Offshore RegulatedCompany profile
Pros
Wide range of financial instruments available for trading, including forex, commodities, indices, shares, and cryptocurrencies.
Zero-commission trading on certain stock instruments, making it cost-effective for traders.
User-friendly account opening process and access to a demo account for practice.
Cons
Lack of strong regulatory oversight, as the broker is primarily regulated by the Vanuatu Financial Services Commission, which may not provide adequate protection.
High inactivity fees and withdrawal processing times can be a drawback for users who do not trade frequently.
Customer support has received negative feedback regarding responsiveness and professionalism, leading to potential difficulties for traders needing assistance.
Evest Forex Broker - Comprehensive Information Guide
1. Broker Overview
Evest, officially known as Atria Financial Ltd, was established in October 2020. The broker is headquartered in Vanuatu, with additional offices located in the United Kingdom and South Africa. Evest operates as a private company and primarily serves the Middle East and North Africa (MENA) regions, focusing on providing trading services to both retail and institutional clients.
Since its inception, Evest has aimed to enhance trading conditions for its clients, particularly in the MENA region. The company has achieved significant milestones, including being recognized as the fastest-growing broker in 2021 at the Forex Expo in Dubai. Evest is a market maker broker, which means it takes the other side of trades, allowing for a diverse range of trading opportunities. The broker offers clients access to over 550 financial instruments, including forex, CFDs, stocks, and cryptocurrencies.
As part of the Atria Financial Group, Evest leverages its parent company's expertise to provide a comprehensive trading experience. The business model primarily focuses on retail forex trading, but it also accommodates institutional services, enhancing its market reach and capabilities.
2. Regulatory and Compliance Information
Evest is regulated by the Vanuatu Financial Services Commission (VFSC), holding the license number 17910. Additionally, it is authorized by the Financial Sector Conduct Authority (FSCA) in South Africa under license number 36060. These regulatory bodies oversee various financial institutions, ensuring compliance with international financial standards.
The regulatory licenses held by Evest allow it to operate within specific jurisdictions, although it does not participate in any investor compensation schemes, which may pose risks for clients. Evest implements a client fund segregation policy, ensuring that client deposits are kept separate from the company's operational funds, thereby enhancing the security of client assets.
Evest adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring clients to verify their identities before trading. This process helps maintain the integrity of the financial system and protects against fraud.
3. Trading Products and Services
Evest offers a diverse array of trading products, focusing on forex and CFDs. The broker provides access to more than 45 currency pairs, including major, minor, and exotic pairs. In addition to forex, Evest offers trading in various CFD categories, including:
- Indices: Major indices from the US, Europe, and Asia.
- Commodities: Precious metals like gold and silver, as well as energy products.
- Stocks: Over 300 popular stocks available for trading with zero commissions.
- Cryptocurrencies: Including Bitcoin, Ethereum, and several altcoins.
Evest has introduced unique trading products such as the Evest Investment Baskets, which consist of pre-made asset portfolios designed for conservative investors. These baskets allow clients to trade without needing to manage individual assets actively.
The broker frequently updates its product offerings, ensuring clients have access to the latest instruments and market trends. Evest's retail trading services are complemented by educational resources, making it suitable for both novice and experienced traders.
4. Trading Platforms and Technology
Evest supports the MetaTrader 5 (MT5) trading platform, renowned for its advanced trading features and capabilities. The broker also provides a proprietary web-based trading platform, designed for ease of use and accessibility.
Key Features of Evest's Trading Platforms:
- Mobile Application: Evest offers a mobile app compatible with both iOS and Android, allowing traders to manage their accounts and execute trades on the go.
- Web-Based Platform: The web trader provides a user-friendly experience, suitable for traders who prefer not to download software.
- Execution Model: Evest operates on a Market Making execution model, which allows for quick trade execution and competitive spreads.
- Technical Infrastructure: The broker utilizes secure socket layer (SSL) technology to safeguard client transactions and data.
- API Access: Evest supports automated trading through API integration, allowing advanced traders to implement algorithmic trading strategies.
5. Account Types and Trading Conditions
Evest offers various account types tailored to meet the needs of different traders. The available accounts include:
- Silver Account: Minimum deposit of $250, with spreads starting from 3 pips.
- Gold Account: Requires a minimum deposit of $5,000, with tighter spreads starting from 2.2 pips.
- Platinum Account: A minimum deposit of $20,000 is required, offering further reduced spreads.
- Diamond Account: For deposits starting at $50,000, this account provides the best trading conditions, including fee-free withdrawals.
Evest also offers Islamic accounts, which comply with Sharia law, providing swap-free trading options. Every account type supports a minimum trade size of 0.01 lots and offers leverage that varies based on the product.
The broker imposes a $75 inactivity fee after two months of no trading activity, reducing to $50 after the third month. This policy encourages active trading and engagement with the platform.
6. Fund Management
Evest supports a variety of deposit methods, including:
- Bank Transfers
- Credit/Debit Cards
- E-Wallets: Such as Skrill and Neteller.
The minimum deposit requirement starts at $250 for the Silver account, with processing times for deposits typically being instantaneous. Evest does not charge any fees for deposits.
For withdrawals, Evest charges a $5 fee for amounts below $50,000, with a minimum withdrawal limit of $25. Withdrawal processing times can take up to seven days, depending on the method used. Evest reserves the right to decline withdrawals in specific circumstances, which clients should be aware of when trading.
7. Customer Support and Educational Resources
Evest provides customer support through various channels, including:
- Phone Support
- Email Support
- Online Ticketing System
The broker does not currently offer live chat support, which may be a limitation for clients needing immediate assistance. Evest's support services are available in multiple languages, catering to its diverse client base.
In terms of education, Evest offers a comprehensive trading academy, which includes:
- Webinars: Covering trading strategies and market analysis.
- Video Tutorials: For beginners and advanced traders.
- Market Analysis: Daily summaries and insights.
These resources are designed to help traders enhance their skills and market understanding.
8. Regional Coverage and Restrictions
Evest primarily serves clients in the MENA region, including countries such as Saudi Arabia, UAE, Egypt, and Qatar. The broker also has plans to expand its services to other regions, although it currently does not accept clients from the USA, Canada, or the European Union.
Evest has established a presence in several countries, with regional offices aimed at providing localized support. However, the broker's offshore registration in Vanuatu may raise concerns for some traders regarding regulatory oversight and fund security.
In summary, Evest broker offers a comprehensive trading experience with a range of financial instruments, competitive trading conditions, and educational resources. While it has made significant strides in the forex trading space, potential clients should consider the regulatory environment and associated risks before engaging with the platform.
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Latest Reviews
FX2986749342
Saudi Arabia
Scammers and fraudsters, may God deal with them. This is a warning about them. Here is my number for anyone who wants advice about them. Don't let the fraudulent agents persuade you to deposit because be assured your money is gone for good.
Exposure
2025-07-15
FX1806101635
Kuwait
Evest platform
Exposure
2025-03-17
FX1806101635
Kuwait
Scammers and the biggest professionals in a professional way, and in the end, you lose all your trades and your money goes away from you. Please be careful of them, it is forbidden to deposit your money with them.
Exposure
2025-03-15
FX1404407263
Kuwait
I followed all the instructions of the account manager. He always encouraged me to deposit more money. He refused to let me withdraw my funds and would say to me, "We want to take advantage of market movements." I would tell him to close the trades so that the market wouldn't go down, but he would say to me, "Don't worry, if there's anything, I'll talk to you." But in the end, I lost all my money. And of course, the account manager withdrew once he was sure that I had lost the money. I tried to contact him, but another manager contacted me and informed me that they wanted to compensate for the loss and to do so, I should deposit more money. All of this, of course, happened for one purpose, which is for them to steal the money, but in a professional way. I advise everyone to be careful with your money, do not invest with them, not even a penny. A professional method of theft, in every sense of the word.
Exposure
2025-01-22
FX2616368736
United Arab Emirates
Worst company one can encounter, led by Ali Hassan and Rola, the fraudulent Amal Diab from the portfolio management department. What kind of portfolio management is this? My portfolio hasn't reached the number where I lose, but they didn't want to continue with me. They said, "Let's lose all the money." And Ahmed, the account manager, may God not bless him, and he will be accountable until the day they are resurrected. And Omar and Sami, the liars, all of them are a Zionist group. They truly do not know the religion. The problem is that I couldn't upload more pictures of the conversations, and they kept telling me to sell my car, sell my gold so that I can get my money back. Sell your kidney. May God not forgive them, O Lord, in this world and the hereafter.
Exposure
2025-01-19
7653
Oman
This is a fraudulent company! Evest defrauded me and caused me to lose a lot of money. Can anyone help me file a formal complaint against them and get my money back? Also, how can I sue them in court? Any information or guidance would be greatly appreciated. May God bless you.
Exposure
2025-11-26