Evolve Markets foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://evolve.markets/, about the company's legal and temporary regulatory information, the company's address .
Evolve Markets Forex Broker
Basic Information
Saint Vincent and the Grenadines
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
Evolve Markets Forex Broker - Complete Information Guide
1. Broker Overview
Evolve Markets, established in 2016, is an international online brokerage firm specializing in cryptocurrency and forex trading. The company is headquartered in Saint Vincent and the Grenadines, operating under the jurisdiction of the International Business Company (IBC) framework. This private brokerage was founded by a group of early Bitcoin adopters and forex brokerage veterans, aiming to provide innovative trading solutions primarily focused on cryptocurrencies.
Over the years, Evolve Markets has developed a reputation for offering high leverage trading options and a diverse range of financial instruments. The broker's primary market includes retail traders and investors looking for access to global markets without the constraints often associated with traditional financial institutions. Significant milestones in its development include the launch of its proprietary trading platform and the introduction of advanced trading features.
Evolve Markets operates as a retail forex and cryptocurrency broker, allowing clients to trade various financial instruments, including forex pairs, CFDs, commodities, and cryptocurrencies. The company's business model emphasizes leveraging cryptocurrencies for deposit and trade settlement, catering to traders who prioritize speed and privacy in their transactions.
2. Regulation and Compliance Information
Evolve Markets is regulated by the Mwali International Services Authority (MISA), holding the registration number T2023208. However, it is important to note that this regulatory body is not considered a top-tier authority, leading to concerns about the overall security and reliability of the broker. The lack of comprehensive regulatory oversight raises questions about the protection of client funds and the enforcement of compliance standards.
The broker claims to adhere to certain client fund protection measures, including the segregation of client funds from operational funds. However, the absence of a robust investor compensation scheme means that traders have limited recourse in the event of financial disputes. Evolve Markets employs basic Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, but the extent of these processes is not extensively documented, leaving potential clients with uncertainties regarding the safety of their investments.
3. Trading Products and Services
Evolve Markets offers a diverse range of trading products, catering to various trading strategies and preferences. The broker provides access to over 50 forex currency pairs, including major, minor, and exotic pairs, allowing traders to capitalize on global currency fluctuations.
In addition to forex, Evolve Markets offers a variety of CFD products, including:
- Indices: Access to major global stock indices.
- Commodities: Trading in precious metals like gold and silver, as well as energy products such as oil and natural gas.
- Cryptocurrencies: A selection of popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Evolve Markets continuously updates its product offerings to align with market trends and trader demand. The broker primarily focuses on retail trading services, allowing individual traders to engage in leveraged trading across multiple asset classes. However, details regarding institutional services or white-label solutions are not prominently featured in their offerings.
4. Trading Platforms and Technology
Evolve Markets supports both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are widely recognized in the trading community for their user-friendly interfaces and advanced trading functionalities. These platforms are available for desktop, web, and mobile devices, providing traders with flexible access to their accounts.
In addition to the MetaTrader platforms, Evolve Markets has developed its own proprietary trading platform, known as Evolve Webtrader. This browser-based platform is designed for intuitive trading, featuring a range of tools and indicators to assist traders in executing their strategies effectively.
The broker operates under a Straight Through Processing (STP) model, ensuring that all client orders are routed directly to liquidity providers without any dealing desk intervention. This approach aims to enhance trade execution speeds and reduce the potential for conflicts of interest.
Evolve Markets also supports API access for automated trading, allowing traders to implement algorithmic strategies and connect to third-party trading systems seamlessly.
5. Account Types and Trading Conditions
Evolve Markets offers a single account type with competitive trading conditions. The minimum deposit requirement is $1, making it accessible for traders with varying capital levels. The broker features a commission structure that varies based on the asset class, with trading fees as follows:
- Cryptocurrencies: 0.075% of the contract amount.
- Forex, Indices, and Commodities: 0.0035% of the contract amount.
Leverage options are notably high, with up to 1:1000 available for forex trading and 1:100 for cryptocurrencies. This level of leverage can significantly amplify potential profits but also poses substantial risks, particularly for inexperienced traders.
Evolve Markets allows a minimum trade size of 0.01 lots, catering to both novice and experienced traders. However, details regarding overnight fees and other specific account conditions are not extensively detailed on their website.
6. Fund Management
Evolve Markets supports deposits exclusively in cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Tether. The broker does not impose any minimum deposit requirements, allowing traders to fund their accounts with as little as $1 worth of cryptocurrency. Deposits are processed quickly, typically credited to accounts after just one blockchain confirmation.
Withdrawals are also facilitated in cryptocurrencies, with no fees charged for withdrawal transactions. The minimum withdrawal amount varies by cryptocurrency, with Bitcoin withdrawals starting at 0.001 BTC. Processing times for withdrawals generally range from 2 to 24 hours, depending on network conditions.
Evolve Markets approach to fund management emphasizes the use of cryptocurrency, which provides traders with enhanced privacy and faster transaction speeds compared to traditional banking methods.
7. Customer Support and Educational Resources
Evolve Markets offers customer support primarily through email, with a commitment to respond within 24 hours. However, the absence of live chat or phone support may be a drawback for some traders seeking immediate assistance. The broker's website features a help center with articles addressing common inquiries related to trading platforms, account management, and technical issues.
Unfortunately, Evolve Markets does not provide extensive educational resources or training materials for traders. There are no webinars, tutorials, or comprehensive guides available, which may limit the ability of novice traders to enhance their skills and knowledge in trading.
Despite the lack of educational content, the broker does offer market analysis services through its platforms, allowing traders to stay informed about market trends and developments.
8. Regional Coverage and Restrictions
Evolve Markets primarily serves clients from various countries worldwide, but it does not accept clients from the United States and some other jurisdictions due to regulatory restrictions. The broker operates without a physical presence in multiple regions, relying on its online platforms to provide trading services.
Clients from regions where Evolve Markets is permitted can access a wide range of trading instruments and leverage options. However, prospective clients should verify their eligibility based on local laws and regulations before opening an account.
In summary, Evolve Markets presents itself as a cryptocurrency-focused trading platform offering high leverage and a variety of trading instruments. However, potential clients should carefully consider the implications of trading with an unregulated broker and the associated risks involved. The Evolve Markets broker aims to cater to traders seeking privacy and flexibility in their trading activities, but due diligence is essential when engaging with any brokerage firm.
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Latest Reviews
tlz
Egypt
Evolve Markets, this unlicensed broker is telling lies. They say they don’t charge commissions on deposit and withdrawals, but they asked me for additional exit fees when I withdrew…
37130
2023-02-23
Chiran Bawornkitiwong
United Kingdom
Evolve Market say withdrawals through cryptos charge no fee, but my withdrawals are still not processed yet. I doubt this broker is a scammer. They treated me very rudely…
37130
2023-02-16
Evolve Markets
News
News WIKIFX REPORT: Solana (SOL) accounts now available on margin trading platform Evolve Markets
Evolve Markets, a crypto-denominated margin trading platform, announced today that Solana (SOL) accounts and deposits are now available on its web trading app and MetaTrader 5.
Bad boy 777
Nigeria
Trading with Evolve Markets is a story I'd rather forget. Picture this - I was ready to test my trading skills, had my $2000 trading capital ready to go, everything was in place - except for the comfort of regulation. Evolve Markets lacks regulation, a significant dent to trader confidence. Already, safety doubts popped in my head. The not-so-good part was the trading conditions. In plain words, it was bad. Slippage was a constant worry. You see, I would set my order at one price, but it would be executed at another, usually higher. If you were buying a book priced at 10,but end up paying20, it wouldn't be nice, right? That's how I felt with each trading order. And let's not forget the spreads - they were just too high. For nitty-gritty, imagine seeing a regular 5 pips on EUR/USD. That's a giant leap, makes it hard to profit. What it does is erode your possible earnings.
37130
2023-12-04