EVEST Forex Broker

Evest Forex Broker - Complete Information Guide

1. Broker Overview

　　Evest is a financial services provider that was established in October 2020. The company operates under the legal name Atria Financial Ltd and is headquartered in Vanuatu, with additional offices in the United Kingdom and Cyprus. As a private entity, Evest focuses primarily on retail forex trading and contracts for difference (CFDs), catering to a diverse clientele, particularly in the MENA (Middle East and North Africa) region.

　　Since its inception, Evest has aimed to offer competitive trading conditions and a user-friendly platform. In a short span, it has achieved notable milestones, including recognition as the "Fastest Growing Broker" at the Forex Expo Dubai in 2021. The company has expanded its service offerings to include a proprietary trading platform alongside the widely used MetaTrader 5 (MT5), enhancing its appeal to both novice and experienced traders.

　　Evest operates on a market-making model, providing access to a wide range of financial instruments, including forex, commodities, indices, stocks, and cryptocurrencies. The broker's mission is to deliver a comprehensive trading experience that combines flexibility, transparency, and educational resources to empower traders in their investment journeys.

2. Regulatory and Compliance Information

　　Evest is regulated by two primary authorities: the Vanuatu Financial Services Commission (VFSC) and the Financial Sector Conduct Authority (FSCA) in South Africa. The regulatory details include:

• VFSC License Number: 17910
• FSCA License Number: 36060

　　The VFSC provides a basic level of oversight, while the FSCA is known for its more stringent regulatory framework. However, it is important to note that the regulations from VFSC are often viewed as less robust compared to those from top-tier authorities like the FCA or ASIC.

　　Evest maintains a client fund segregation policy, ensuring that traders' funds are kept separate from the company's operational funds. However, the broker does not participate in any investor compensation schemes, which means that clients may not have additional protection in the event of financial difficulties.

　　To comply with international standards, Evest implements Know Your Customer (KYC) and Anti-Money Laundering (AML) measures. This involves verifying the identity of clients through government-issued identification and monitoring transactions for suspicious activity.

3. Trading Products and Services

　　Evest offers a diverse array of trading products, catering to various investment strategies and preferences:

• 　　Forex Trading: Evest provides access to over 45 currency pairs, including major, minor, and exotic pairs. The broker allows trading with leverage up to 1:400, making it attractive for both retail and professional traders.

• 　　CFD Products: The broker offers CFDs across various asset classes, including:

• 　　Indices: Major indices like the S&P 500 and NASDAQ.

• 　　Commodities: Trading options include gold, silver, and oil.

• 　　Stocks: Evest provides CFDs on over 300 popular stocks, allowing commission-free trading.

• 　　Cryptocurrencies: Evest supports trading in major cryptocurrencies like Bitcoin and Ethereum, as well as altcoins.

• 　　Investment Baskets: Evest has introduced investment baskets, which are pre-made portfolios designed to cater to conservative investors seeking long-term growth without the need for constant market monitoring.

　　The broker continuously updates its product offerings, aiming to meet the evolving needs of its clients and enhance their trading experience.

4. Trading Platforms and Technology

　　Evest supports the popular MetaTrader 5 (MT5) platform, which is renowned for its advanced trading capabilities and user-friendly interface. The features of the trading platforms include:

• 　　MetaTrader 5: A multi-asset platform that provides robust tools for technical and fundamental analysis, including:

• 　　80 built-in indicators and analytical objects.

• 　　21 timeframes for advanced charting.

• 　　The ability to execute trades with one-click functionality.

• 　　Proprietary Web Platform: Evest also offers a user-friendly web-based trading platform, which is designed for ease of use, allowing traders to access their accounts and execute trades without downloading software.

• 　　Mobile Trading Apps: Evest provides mobile applications compatible with both iOS and Android devices, enabling traders to manage their accounts and execute trades on the go.

• 　　Execution Model: Evest operates on a market-making execution model, which facilitates instant order execution and a seamless trading experience.

　　The broker's technological infrastructure is supported by secure socket layer (SSL) encryption, ensuring the safety and confidentiality of client data during transactions.

5. Account Types and Trading Conditions

　　Evest offers several account types to accommodate different trading preferences and capital levels:

• Silver Account: Requires a minimum deposit of $250, with spreads starting at 3 pips.
• Gold Account: Requires a minimum deposit of $5,000, offering tighter spreads from 2.2 pips.
• Platinum Account: Requires a minimum deposit of $20,000, with spreads starting from 1.8 pips.
• Diamond Account: Requires a minimum deposit of $50,000, providing the best spreads and additional benefits, such as fee-free withdrawals.

　　Evest also offers Islamic accounts, which comply with Sharia law, allowing traders to engage in trading without interest charges.

• Leverage: Evest provides leverage options that vary by account type and trading instrument, with maximum leverage reaching up to 1:400 on forex pairs.
• Minimum Trade Size: The minimum trade size is set at 0.01 lots across all account types.
• Overnight Fees: Evest applies overnight fees (swap rates) on positions carried over to the next trading day, which may vary based on the account type and trading instrument.

6. Fund Management

　　Evest supports a variety of deposit and withdrawal methods to facilitate transactions for its clients:

• 　　Deposit Methods: Accepted methods include bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller. The minimum deposit requirement is $250 for standard accounts.

• 　　Deposit Processing Time: Deposits are typically processed instantly, allowing traders to begin trading without delay.

• 　　Deposit Fees: Evest does not charge any fees for deposits; however, a processing fee may apply in certain circumstances.

• 　　Withdrawal Methods: Clients can withdraw funds through similar methods as deposits, including bank transfers and credit/debit cards. The minimum withdrawal amount is $25.

• 　　Withdrawal Processing Time: Withdrawal requests may take up to seven business days to process, depending on the method used.

• 　　Withdrawal Fees: Evest charges a withdrawal fee of $5 for accounts with deposits under $50,000. Additionally, a 2% currency conversion fee applies to withdrawals.

• 　　Inactivity Fees: Evest imposes inactivity fees of $75 after two months of no trading activity, which reduces to $50 after the third month.

  　　

7. Customer Support and Educational Resources

　　Evest provides a range of customer support channels to assist its clients:

• 　　Support Channels: Traders can reach Evest's support team via phone, email, and an online ticketing system. However, live chat support is not available.

• 　　Service Hours: Evest's customer support operates during business hours, although specific times are not disclosed.

• 　　Multilingual Support: The support team is available in multiple languages, including English, Arabic, and Spanish.

• 　　Educational Resources: Evest offers a comprehensive trading academy, which includes video tutorials, webinars, and e-books covering various trading topics and strategies.

• 　　Market Analysis Services: Clients receive daily market summaries and analysis to help inform their trading decisions.

• 　　Trading Tools: Evest provides several trading tools, including calculators for position sizing, economic calendars, and trading signals to assist traders in their strategies.

  　　

8. Regional Coverage and Restrictions

　　Evest primarily serves clients in the MENA region, with a focus on countries such as:

• 　　Key Markets: United Arab Emirates, Saudi Arabia, Egypt, and other nations in the Middle East and North Africa.

• 　　Regional Offices: Evest has established offices in Vanuatu, the United Kingdom, and Cyprus to facilitate its operations.

• 　　Restricted Countries: Evest does not accept clients from the United States, Canada, and the European Union, limiting its market reach in these regions.

• 　　Special Restrictions: Due to its regulatory status, Evest may impose additional restrictions on certain trading activities, particularly for clients in regions with stricter financial regulations.

　　In conclusion, Evest broker presents a comprehensive trading platform with a variety of products and services tailored to meet the needs of its clients, especially in the MENA region. While the broker offers competitive features, potential clients should carefully consider its regulatory standing and the associated risks before engaging in trading activities.