Legit Broker or Not?
According to its website, Eco Markets is an online broker that provides its service to the European market. As is usually the case, you can up to sign up directly if you would like. Alternatively, there are a plethora of auto-trading bots that rely on brokers in the background to do their monetary collections.
These bots offer a more streamlined and simplified experience when trading various asset types, such as cryptocurrency, forex, stocks, indices, CFDs, and several others. Inflated reviews would have you believe that not only is Eco Markets legitimate, but also that using it with a trading bot yields positive results.
We went ahead and did some comprehensive digging on the platform to find that it’s not at all it claims to be. Based on the information we have, there is no reason to believe that this is a legitimate application. Why is this? Well, the sections below detail all our findings and where we stand on Eco Markets. Additionally, we provide alternative recommendations which allow you to carry out your trading with a trustworthy platform.
What to do instead?
Our review shows that Eco Markets is not up to the standard that we are looking for. But that doesn’t mean you should give up on trading. There are other good platforms out there that are both safe and user-friendly. Check out our list of the best online brokers to find a place that makes trading easy for you.
Table of Contents
- What to do instead?
- What Is Eco Markets?
- What You Should Get from Eco Markets and Why You Don’t?
- Regulations and Safety of Your Funds
- Eco Markets Not Legit: The Software
- Why Use Auto-trading Websites?
- Why Work with a Legit Broker and Auto-trader Robot?
- Signing Up with Eco Markets (NOT RECOMMENDED)
- Signing Up with Other Brokers
What Is Eco Markets?
Eco Markets allegedly functions as a trading website with a dedicated broker in its direct form of operation. Of course, this would mean forming the back end for a series of auto-trading options.
Unlike alternatives that allow for a wide range of asset options, you are only going to be trading cryptocurrency and CFDs here. It claims to use top-tier technology that provides an intuitive experience to its customers. Our investigation has led us to see nothing of the sort.
What You Should Get from Eco Markets and Why You Don’t?
If you read through the admittedly engaging web page, you are promised a network of resources that help you to grow as a trader while responding to any queries, concerns, or issues you may have.
Eco Markets professes an instant and constant flow of real-time information, which is supposed to help with decision-making and reaching your goals.
This sounded exciting, so naturally, we wanted to see what the platform had to offer. Unfortunately, we quickly discovered that all the claims were nothing more than hot air. Do not expect to learn anything, and don’t hold your breath for anyone to answer any questions or concerns you may have. What you can look forward to is the sour taste of regret.
It’s no surprise that auto-trading platforms out there use Eco Markets as a back-end broker. They are not legit themselves, so wouldn’t it make sense to have an underlying scam running the whole thing? Once you add money to your account to start trading, you’d best write that cash off as a bad debt.
Regulations and Safety of Your Funds
The area of regulation is where things start to get incredibly sketchy with Eco Markets. You would think a page that has a dedicated compliance section would speak to the body to which it answers from a legal standpoint. That kind of disclosure typically makes clients feel safer and more secure.
However, the layout of and information on the page would imply that there is no authoritative body under which Eco Markets falls, which is not necessarily far off the mark. The page lists a Netherlands-based address, which does not have any record of it. For clarity, the address exists, but it has nothing to do with Eco Markets.
In fact, we were unable to tell what the true location of the platform is. You can always count this as a red flag, as legitimate brokers are never shady with their locations. You also don’t have to have a degree in rocket science just to find some basic information.
The final nail in the coffin is the mention of the parent company Oxilian Dev Works Ltd. Feel free to search for information on it, but we can guarantee that you’re not going to be having much luck. That’s because such a company does not even exist.
Eco Markets Not Legit: The Software
This is another area in which we didn’t know whether to be genuinely surprised or dumbfounded. Normally, when a con website has no legitimate platform behind it, you may find statements filled with fluff telling you how amazing it is, with no indication of what the underlying technology may be.
Legitimate brokers that are confident in what they are offering not only give detailed information, but you may even see a hyperlink present that takes you to a comprehensive explanation of what powers their platforms.
Eco Markets did a weird mix of the two. The route taken was to hype up the underlying technology while providing a link for anyone who may want more information. This would be the first indication that we may be dealing with a trustworthy platform. Well, that’s what we would say if the link led somewhere.
Instead, when you try to browse to the informational area, you are greeted with a beautiful message letting you know that the page you have requested does not exist. The worst part is even if Eco Markets was doing something legitimate, it would have been a broker, which means you would need to have the experience to handle all the trading nuances yourself.
Why Use Auto-trading Websites?
We’ve really been trying to hit home with the benefits of auto-traders in conjunction with online brokers. Both alternatives allow you to sign up directly with them, but doing so with the broker can create some challenges if you are not too seasoned in the trading world.
Standard assets are challenging enough to wrap your head around, so when you introduce alternative investments, such as CFDs, it’s enough to leave you incredibly confused. The biggest problem here is the amount of time it is going to take you to master or even gain a respectable appreciation of the industry.
As you are doing that, expect to spend more than time. Everyone who went about learning the intricacies of trading through experience ended up losing quite a lot of money. Sadly, you would suffer the same fate if you opted to go directly to a broker as a newcomer.
A better option is to take advantage of an auto-trading platform that integrates with the broker behind the scenes. You can think of it as a safer way to get in the experience base that you need.
All you’d be required to do is sign up a brief form to register, deposit your initial investment, choose your trading criteria, and allow the automation to take over. You are still going to get connected to a broker to facilitate the training, but the algorithm uses superb market analysis techniques to give you a higher chance of success.
We took some time to look at the kind of auto-traders that are using Eco Markets in the background. To no one’s surprise, we are yet to find a legitimate one.
What you do get is a couple of predetermined outcomes at the beginning, making it look like you are off to a strong start. Not only can you never withdraw those returns, but the moment you start investing more is where your money seems to be drifting off into an ever-expanding black hole.
Take your best shot at asking for a withdrawal because that is never going to happen. Remember that support that is supposed to be handling customer queries and concerns? It’s nothing more than a figment of your imagination, so should you report your losses hoping to receive some support or compensation, you are going to find that you’d stand a better chance of having an engaging conversation with a brick wall.
Why Work with a Legit Broker and Auto-trader Robot?
There are so many legitimate brokers to choose from, that it’s all up to your level of comfort in the end. Opting for trading robots, such as 1K Daily Profit in the middle provides sound market analysis for you, which improves the chances of successful trades.
Registration is a breeze, as you need only enter the basic information that’s needed, validate your registration using the email you receive, then the trading can begin.
Based on your location, an optimal broker is automatically chosen. Withdrawals are real with legitimate platforms, so expect to be able to get your money using the most well-known and secure payment methods available.
Signing Up with Eco Markets (NOT RECOMMENDED)
Even with our review out there, you may still want to experience Eco Markets for yourself, so you can form your own opinion. We would hope that you don’t choose this course of action, but we still need to remain objective with the information we provide.
Signing up requires the completion of a simple registration form that is only slightly longer than the norm. The elements that are needed include your name, email address, desired password, time zone, country, phone number, and the commodity you wish to trade.
You also need to tick off a few checkboxes indicating an understanding of the terms and conditions, verifying that your age is over 18, and stating that you are not a U.S. citizen. With all of this out of the way, your account is created.
We would like to take yet another opportunity here to say that we are strongly against registering on this platform.
Signing Up with Other Brokers
The process of signing up with a legitimate broker is easy enough, but our verdict is that automated trading robots, such as 1K Daily Profit are the way to go. Of course, the final decision is yours, but we always aim to put all the required insights out there.
Just remember that there is quite a bit of manual work involved when dealing with a broker directly. The auto-trading robot gives you a highly simplified experience.
We have absolutely no reservations in strongly stating that Eco Markets is nothing more than an elaborate scam masquerading as a broker site. There are several claims present, none of which are fulfilled.
The security is questionable, withdrawal is impossible, regulation is nonexistent, no platform runs behind it, it’s affiliated with a host of auto-trading scams, and its parent company is not even a real thing.
Save yourself time and money by looking towards a legitimate auto-trading broker platform.
Though we have covered quite a bit, we know that some direct points may require more targeted answers. For these questions, we would like to refer you to our FAQs.
Is Eco Markets a Scam?
The answer here is an emphatic yes. Eco Markets is a very elaborate scam. Fall into the trap, and you are going to be losing your hard-earned money. Even when looking for an auto-trading alternative, make sure this is not the broker it uses.
Can I Go to a Reputable Broker’s Site Directly?
Nothing would stop you from taking this course of action, but you would be compromising automation opportunities if you did.
Eco Markets Review: Scam or Legit?
This review takes an in-depth look at Eco Markets, and allows you to understand its level of legitimacy. You also get to familiarize yourself with a couple of potential alternatives.
WeInvests is a financial portal-based research agency. We do our utmost best to offer reliable and unbiased information about crypto, finance, trading and stocks. However, we do not offer financial advice and users should always carry out their own research.Read More