Evolution Markets Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
Business
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NFA Exceeded 
100% satisfied. I would like to applaud Evolution Markets for being honest and transparent, as they promise. They do not charge unnecessary fees and do not go behind your back. It is said that I mention this as an advantage, but this is the reality today. There are many dishonest companies on the financial market.
Summary:
Evolution Markets has garnered a mixed reputation among traders, with numerous reports highlighting both positive experiences and significant concerns regarding its operations. Key features include the lack of regulatory oversight and a focus on cryptocurrency trading, which may appeal to some traders but raises red flags for others.
Note:
It is crucial to note that various entities operate under the name Evolution Markets, which can lead to confusion. Therefore, thorough research is essential for accuracy and fairness.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
We assess brokers based on user reviews, expert opinions, and available data to provide a comprehensive overview.
Established in 2016, Evolution Markets operates as an offshore broker primarily focused on cryptocurrency and forex trading. It offers trading through popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), catering to a diverse range of assets, including forex pairs, cryptocurrencies, commodities, and indices. However, it lacks significant regulatory oversight, which raises concerns about its trustworthiness.
Regulated Regions:
Evolution Markets is not regulated by any major financial authority, which poses a significant risk for traders. Various sources indicate that it operates under the auspices of the Mwali International Services Authority (MISA), but this does not provide the same level of protection as more recognized regulators like the FCA or ASIC.
Deposit/Withdrawal Currencies:
The broker primarily accepts deposits in cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). There is no minimum deposit requirement, which may attract new traders. However, the lack of traditional banking options for withdrawals can be a drawback.
Minimum Deposit:
There is no minimum deposit required to open an account with Evolution Markets, making it accessible for traders with varying capital levels.
Bonuses/Promotions:
Currently, there are no significant bonuses or promotional offers available, which is a departure from many brokers that typically entice new clients with such incentives.
Trading Asset Classes:
Evolution Markets offers a range of trading instruments, including over 50 forex pairs, major cryptocurrencies, commodities, and indices. This varied asset selection allows traders to diversify their portfolios.
Costs (Spreads, Fees, Commissions):
The trading costs at Evolution Markets are relatively competitive. For example, spreads can start from 0.6 pips, and trading fees are structured to be low, particularly for high-frequency traders. However, users have reported issues with slippage and execution delays, which could affect overall trading costs.
Leverage:
The broker offers high leverage options of up to 1:1000, which can amplify potential profits but also increases the risk of significant losses. This level of leverage is attractive to some traders but may not align with the risk appetite of all investors.
Allowed Trading Platforms:
Evolution Markets supports both MT4 and MT5, which are well-regarded trading platforms. However, the proprietary platform has received mixed reviews regarding its user-friendliness.
Restricted Regions:
The broker does not accept clients from the United States, which is a common restriction among many offshore brokers.
Available Customer Service Languages:
Customer support is reportedly limited, with users indicating that email is the primary mode of communication. There is no live chat or phone support, which can hinder timely assistance for traders facing issues.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
Account Conditions (4/10):
Users appreciate the lack of a minimum deposit requirement, which makes Evolution Markets accessible. However, the absence of a demo account and limited account types detracts from the overall score. Many traders expressed concerns about the broker's transparency and operational practices.
Tools and Resources (5/10):
While the availability of MT4 and MT5 offers robust trading tools, the lack of educational resources or advanced analytical tools limits the broker's appeal. Traders seeking comprehensive market analysis may find this lacking.
Customer Service and Support (3/10):
Customer service is a significant pain point for many users, with reports of slow response times and limited support options. The absence of live chat or phone support further complicates resolution of issues.
Trading Setup (4/10):
The trading experience is marred by reports of execution delays and slippage, particularly during volatile market conditions. While the platform is functional, these issues can lead to frustration among traders.
Trustworthiness (2/10):
The lack of regulation and numerous negative reviews significantly impact Evolution Markets' trustworthiness. Many users have reported difficulties with withdrawals and account closures, raising concerns about the broker's legitimacy.
User Experience (3/10):
Overall user experience is mixed, with some traders reporting satisfactory experiences while others highlighted significant issues, particularly regarding platform performance and customer support.
In conclusion, Evolution Markets presents an intriguing option for traders interested in cryptocurrency and forex, but the significant concerns regarding its regulatory status and user experiences cannot be overlooked. As always, thorough research and caution are advised before engaging with any broker, particularly those with mixed reviews like Evolution Markets.
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