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Ecbstox Review: A Cypriot Broker Scam (Ecbstox.com)

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Ecbstox Review: A Cypriot Broker Scam (Ecbstox.com)

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Ecbstox is selling itself as a Cypriot broker who is far from the truth. What we found out about Ecbstox.com is shocking, to say the least. These are scam artists who want to take advantage of the legitimacy of CySEC. Even though that’s the case, there are ways to expose the broker’s dirty tricks. After a thorough investigation, we have concrete proof that the brokerage firm is a scam. Please get to know what we found out regarding this suspicious broker.

Ecbstox Review

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Background and Review of Ecbstox

There’s not a lot to tell about this platform. Even their about us page does not give clear details as to who these brokers are. And this is one of the many red flags we must raise with the broker. Lack of transparency is one of the many pointers to a bad reputation. A broker must strive to be reputable at all times.

These are brokers who clearly have something else in mind. The end game is to make as many people deposit with them and later shut down the whole platform.

ECBstox is claiming to be located in Nicosia, Cyprus, which is not entirely true. You see, these brokers want to use the location to entice users to sign up. Cyprus is known for strict broker regulatory rules, which make it a safe place to invest. These scam artists want investors thinking that this is another Cypriot broker who is transparent.

All the evidence we have against these brokers is overwhelming. Read on to find out the scary features of this untamed broker.

Comments from victims of this scam

There are varying comments which suggest that this is clearly a scam. Mark Dubois could not withdraw even a penny after depositing over $2,000 with the broker. Attempts to talk with the broker have fallen on deaf ears. The broker is blocking all attempts from Mark to withdraw funds.

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Other victims are posting their horrific experiences with the broker on trading forums. We have not yet seen a member who has proof of making money with this platform.

Contact information on the broker

A closer look at the website reveals a platform that has no chat service or direct contact. The disclaimer at the footer of their homepage has a phone number with no email. Attempts to make contact did not go through as no one picks our calls. It could be a telephone number used to elicit members into using other channels to make deposits.

They call you from a different number once you make contact with the number on their website. Be careful with some of these telephone numbers as they could be virtual numbers.

Currency pairs and Leverage

There’s no information on the available currency pairs. We don’t know whether the broker uses exotic, major, or minor currency pairs. The lack of information on the available features is wanting. We still don’t know the trading assets available on the platform. And this is one huge problem red flag.

Investors are going on a platform with no idea of what the broker is offering. The broker claims to offer a leverage of 1:500 to help boost currency trading. It would help to know the type of currency pairs available beforehand.

Domain details ecbstox.com

Ecbstox.com is a website whose IP location is in the Netherlands. What this means is that the owners of this website are not in Cyprus. We could not see any traffic coming in or out of Cyprus. These are scam artists who are targeting naïve European investors.

They have also made 2 unique changes to their IP address over the past year. The website is a year old, and we have seen several negative comments. One thing’s clear, and this is a dangerous broker who has ill-intent.

License, Permit, and Registration of Ecbstox

Is Ecbstox Licensed or Registered (Compliance)

There’s no evidence to show that this broker is compliant with industry rules and regulations. Since they claim to be in Cyprus, it would make sense to have a CySEC license. We checked with the regulator, and there’s no broker with a license under this name. And this goes to show the lack of transparency from the broker.

A real broker will have their credentials ready for all to see. With the right credentials, it helps investors feel safe handling their investments to a broker.

We don’t have any information on the company that is behind this broker. The broker is hiding crucial information from members of the public. There’s a lack of transparency with this broker, which is a huge problem. A company registrar would help to determine the legitimacy of the people behind this platform.

We can clearly see that the broker is hiding a lot of sensitive information from users. Stay away from such brokers as there’s no safety of funds from such crooks.

Membership Tiers/ Account Types ecbstox.com

Ecbstox is furnishing investors with five account types to choose from. The accounts include Silver, Gold, Platinum, Platinum+, and Diamond. What is even more shocking is the minimum deposit set for these five accounts.

Ecbstox.com Account Types

To sign up, you must make a deposit of $5,000, $10,000, $25,000, $50,000, and $250,000 respectively. Imagine depositing such an amount to an unverified broker. There’s a possibility you lose your funds immediately after you deposit with the platform.

Payment Options

There are several funding methods available on the platform. These payment methods include MasterCard, Sepa, Skrill, Visa, and Wire Transfer. With all these payment methods, the broker ensures anyone from any part of the globe can deposit. The only problem is withdrawal as there are no withdrawal terms on the website.

A risk disclaimer shows that no warranty or guarantee is made. It means that the platform is exempt from prosecution once you deposit funds with them. That’s why they don’t bother offering investors terms and conditions. Once you deposit with them, your funds are at their mercy. It’s best to stay away from such platforms as they are a security risk.

Safety of funds with ecbstox.com

Funding Options with Ecbstox

The broker clearly lacks any valid license documents to prove their cause. It means that your deposits don’t enjoy the security cover from regulators. In case of bankruptcy or insolvency, the platform won’t compensate users.

Your money is as good as gone once you deposit with them. The smart option is to stay away and use recommended brokers who offer a safety net. That’s why using a reliable broker backed by the trading community is the best move there is.

Scam or Legit Ecbstox

Ecbstox is a scam that is clearly going to make you lose your funds. It’s a pyramid scheme that only helps those who have close ties with the owners. Please stay away from such websites as they lure unsuspecting investors to deposit funds with them.

There’s an insane minimum deposit requirement from a platform that has no license. We believe that CySEC will soon issue a warning against this platform. With victims coming out each day, the platform’s days are numbered.

Closing remarks

There’s no way you will gain any knowledge or profit from this platform. It’s a scam waiting to pounce and take your money away. No single member has come out with proof of withdrawing funds with this platform.

We are dealing with a rogue broker who will do or say anything to entice investors to sign up. Please stay away from the platform or become their next meal ticket.

Sign up with recommended and reliable brokers who have years of trading experience. Go for appropriate brokers who use transparency as the core of their services. It’s time to sign up with authentic brokers for a chance to make reasonable profit margins.

We wish all traders a safe and successful trading experience.

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