ELTM Trading Review: Another Suspicious Firm
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ELTM-invest.com Review
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Fund Safety
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Regulation
Summary
The contact information is limited and unreliable. Inaccurate contact details help this company protect their key personnel from public scrutiny and potential backlash. Founders and operators of fraudulent schemes prefer to stay in the shadows to avoid being blacklisted in the industry or targeted by disgruntled victims.
The first impression you get when you look at ELTM Trading is that the company is well-established in the financial markets and that it will facilitate your investments. However, you must not believe anything coming from this unregulated broker.
Their only goal is to take traders’ investments through unorthodox approaches. If you want to succeed in the forex market, ensure you are working with reliable and transparent crypto brokers.
One of the reasons for working with a broker in the forex trading business is that they offer valuable expertise and guidance. Experienced brokers can provide insights into market trends, trading strategies, and risk management. Additionally, they have educational resources, including webinars, articles, and tutorials, to help traders enhance their skills and knowledge.
About ELTM-invest.com
From their website, we gathered that the broker allows you to trade commodities, indices, crypto, stocks, and currencies. However, their trading platform doesn’t have advanced tools, auto trading, or custom indicators.
They registered their domain on 23rd May 2024, and it will expire in 2025. This means they will operate for a very brief period. Typically, questionable brokers don’t operate for too long. This is because they know their deeds will soon be discovered, and thus they want to exit the market as soon as possible.
Founders and Team
Information about the company’s executive or historical background is missing from the broker’s website. This is among the red flags that indicate this is a scam. One of the reasons scam forex brokers hide their executives’ details is to avoid accountability. By doing so, they make it hard for law enforcers to track them down.
Scam brokers often operate through a network of shell companies and offshore accounts to mask their operations. Revealing the identities of executives could potentially unravel these networks and expose the underlying fraudulent activities. By maintaining operational secrecy, these brokers can continue to operate without drawing unwanted attention.
ELTM Trading Contact Details
The contact information is limited and unreliable. Inaccurate contact details help this company protect their key personnel from public scrutiny and potential backlash. Founders and operators of fraudulent schemes prefer to stay in the shadows to avoid being blacklisted in the industry or targeted by disgruntled victims.
By providing vague or false contact details, this company discourages potential clients from conducting thorough due diligence. Some people may be swayed by the polished presentation and the allure of quick profits, overlooking the red flags.
Regulation
This is arguably the most important feature that a broker should possess. One of the requirements that financial regulators impose on brokers is that they should maintain adequate financial reserves and segregate client funds from theirs. This segregation ensures that client funds are protected even if the broker faces financial difficulties. Scam brokers don’t meet this requirement.
Regulated brokers are required to provide best execution for their clients, meaning they must execute orders at the most favorable terms available. They must also offer fair pricing and avoid unfair practices. This commitment helps to ensure that traders receive the best possible outcomes for their transactions.
One of the risks traders face when working with a broker like ELTM Trading is that the broker can easily manipulate price. This occurs mostly on the demo account to give the trader the false impression of profits.
ELTM Trading Trading Conditions
The minimum deposit is $150. Although this may not seem like much, it is a lot compared to what other brokers offer. It’s possible to open an account with as little as $5 with regulated brokers. For unregulated brokers to offer such a high amount, it shows their main focus is just to scam people.
Unsurprisingly, ELTM Trading only allows cryptocurrencies as the mode of payment. This way, once a person deposits, it’s virtually impossible to trace the money or recover it once it’s lost.
Final Verdict
ELTM Trading is a fraudulent forex broker. They are unethical and dishonest. It would be best if you stayed away from them and others who have similar practices. Instead, trade only with transparent and honest crypto brokers who will guard your resources.
