Elcurrency.com Review Is Elcurrency a Scam or Good Broker

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Elcurrency.com Review: Is Elcurrency a Scam or Good Broker?

Elcurrency Review: Scam or Legit Broker? elcurrency.com is a forex and CFD broker. It allows you to trade primarily with cryptocurrencies. It is supposedly own by Hello Technology Ltd, and is located at Marshall Islands. They could be reached via phone- +43720775153 or email –
[email protected]

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DEPOSIT AND WITHDRAWAL METHODS

They accept Visa, Master Card, Skrill.

Is Elcurrency.com LICENSED?

NO! Elcurrency broker is not licensed. No regulatory body is acting as a watchdog overseeing that they comply with best practices in the financial market.

VERDICT- SCAM !

Everything about this platform indicates that they are a scamming lot. First and formost, they claim to be a cryptocurrency exchange platform whereas it isn’t so. You can also trade stocks and commodities with it, it obviously is a broker that is using contracts for difference.This kind of trading with derivatives is always regulated and requires a licence. But Elcurrency is not regulated at all, it has no licence in the UK nor anywhere else, which makes it a broker that is not allowed to offer investment services. It also is offering bonuses on deposits, which is illegal in the EU.

CONCLUSION

Just like TradeHash and FASTFX, Elcurrency is an illegal broker, this is a source of major concern. When trading forex, cfd and cryptocurrency we always recommend you use a regulated broker that is licensed to trade financial instruments.

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Elcurrency.com Review: Is Elcurrency a Scam or Good Broker?

After doing some research, we found out that a lot of traders are reporting Elcurrency and writting bad reviews about it.
It seems like they are not happy about it and they warn others not to trade with them.

It’s always important to know what other traders are thinking about a broker before using it and we can say that they are not saying good things about Elcurrency.

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What do regulators say about Elcurrency ?

This is the most important thing you need to know about a broker before using it. Is Elcurrency regulated ? Is it an offshore company ?

Most brokers are unregulated or regulated by an offshore regulation authority which won’t help you in case of problem. Keep in mind that if a broker steal your funds, you won’t be able to complaint about it unless they are licensed by a serious regulator such as the CySEC (Cyprus Securities and Exchange Commission).

An unregulated broker is clearly not authorized to operate in any regulated country and you should definitely not put any money into it.

Elcurrency is an unregulated offshore broker owned by Hello Technology LTD and located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands.

They can be contacted by phone at this number : +43720775153 or you can send an email to [email protected]

You should definitely avoid any unregulated or offshore broker and Elcurrency is one of them.

Have you been Scammed by Elcurrency ?

Have you been victim of this company ? Did you lose money with them ? Everyone does mistakes. Don’t worry, you are not alone, and we are here to help you.

Our team of experts is available 24/7 in order to help you recovering your hard-earned money.
After asking you some questions, they will be able to build a chargeback case to fight the broker and get your money back as soon as possible.

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As we said before, the good news is that there is a solution and it’s called a Chargeback.
But what is a Chargeback ?
A Chargeback is the retroactive cancellation and refund of a charge made using your credit card.

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Elcurrency is an ILLEGAL broker – review

Read this review to understand that you should not trade anything with Elcurrency.

Elcurrency is a broker that that will let you trade primarily with cryptocurrencies. There are also some other assets, like commodities and stocks, but they are always traded in pairs with cryptocurrencies.

The minimum deposit is $500 to open a trading account. Elcurrency also offers managed accounts and bonuses on deposits.

The broker is based in Marshall Islands and also has offices in Great Britain.

Stay away

The main problem of Elcurrency is that it is an illegal broker. Here is why.

Elcurrency obviously is not a cryptocurrency exchange. Because you can trade also stocks and commodities with it, it obviously is a broker that is using contracts for difference.

This kind of trading with derivatives is always regulated and requires a licence. But Elcurrency is not regulated at all, it has no licence in the UK nor anywhere else, which makes it a broker that is not allowed to offer investment services.

The broker is obviously targeting European residents but cannot do it legally. Not only it is not regulated, but it also is offering bonuses on deposits, which is illegal in the EU.

Also, managed accounts is another regulated investment services that Elcurrency is not licensed to provide.

The only safe thing you can do in regards to this broker is to not trade with it all. This broker offers no protection at all.

Conclusion

Elcurrency is an illegal broker, not a cryptocurrency exchange. Deposits are not protected with this broker, stay away from it!

If you want to try financial trading, do it on a free demo with a regulated broker.

If you later decide to trade with real money, be sure to understand the risks.

8 thoughts on “ Elcurrency is an ILLEGAL broker – review ”

Stay well clear and DO NOT invest in them. They are scammers and will not give you your money back. I made a relatively small investment of £250 which did not make any profit then when I contacted them, miraculously my investment was in profit. Trying to get them to refund you is impossible. I was contacted by about 7 different so called account managers, all telling me different things and all tried to get me to invest more money. They were extremely rude and arrogant when I told them to close my account – a year on and I’m still waiting for that to happen. Like a previous reviewer, I am concerned that they have copies of my documents and I have no idea what they have done with my information.

Hace mas de tres meses que ando detras de cerrar la cuenta. No ponian operaciones y tengo un capital que necesito recuperar. Me han llamado varias veces y como dicen otros, tengo que esperar que me llame le gerente de cuenta. ( cosa que no hace). En vistas de que por lo que leo, no podre recuperar el dinero. Estoy pensando en quemar la cuenta, es decir, perder expresamente todo el dinero que tengo en la cuenta. Si no es mio, tampoco lo sera suyo.
ESTAFADORES EN TODA REGLA. TIMADORES Y LADRONES.

SCAMMERS, THEY WILL KEEP YOUR MONEY AND ASK YOU FOR MORE. THEY WILL SEND YOUR MONEY AND YOUR PROFIT TO A THIRD PARTY (HSBC Bank in Switzerland-Zurich) AS THEY SAY, WITHOUT YOUR CONSENT AND ASK YOU TO PAY A COMMISSION ON THE PROFIT (WHICH I NEVER DENIED paying) BUT BEFORE THEY WILL LEAVE YOU WITH NOTHING. Mind you it was ALL DONE WITH INSURANCE AND CONTRACTS, I HAVE PLENTY HERE, I COULDN’T WITHDRAW MY MONEY WITHOUT THEM AUTHORIZING IT WHICH IS AS WELL FALSE PROPAGANDA ON THEIR WEBSITE (another crime)
NOT MENTIONING THEY HAVE ALL MY DATA, PASSPORT AND SO ON THAT I DON’T KNOW WHAT THEY ARE DOING WITH IT, WHICH FALLS UNDER THE TERRORISM ATTACK LAW IN UNITED KINGDOM.
And besides, THEY HACKED COINBASE (the biggest Bitcoin Traders in the world where I have almost nothing but couldn’t get in my own account because moved Countries forgot 2-way verification etc) THEY HACKED IN FRONT OF MY EYES IN A BLINK, THEY SAID THEY WERE RELATED AND I WAS ABLE TO GET INTO MY ACC AT COINBASE.
THEY TOOK THE MONEY I WORKED REALLY HARD FOR YEARS TO BUY MY ONLY HOME, NOW I’M LITERALLY HOMELESS DESPERATE TO GET A JOB AT THIS TIME OF THE YEAR, HAVING TO LEAVE ON FAVORS FROM FRIENDS. THEY CAN ROT IN HELL AS FAR AS I’M CONCERNED.
IF YOU HAVE BEEN SCAMMED BY THEM GET IN TOUCH HERE., THE MORE THE BETTER.

JA – ist BETRUG !
Geld einzahlen – sieht man nie wieder…
YES – ist’s SCAM ! forget ist very fast !

That you can lose money in a speculation is perfectly normal. And I’m not complaining about that either. The risk was and is known to me and I consciously took it.
The problem is that ElCurrency sees your money as your money and doesn’t pay out a cent of it anymore, i.e. you can’t just sell and say “The war´s”, but the traders (monthly income 30,000 according to their own statements), tell you very cheekily and directly that only they decide on payouts.
That’s why I can only warn you at this point to transfer only one cent to this company and these traders (I had three Nicolas B, Robert H. (the worst) and Jason W.), you won’t see him again. If anyone thinks that’s just the rating of a disappointed investor:
1) at the beginning it went well for me too (the stake) doubled very quickly.
2) Since the colleagues only communicate by phone and the internal chat system, I copied every chat very quickly and recorded the phone calls. So if you don’t believe it, just let me know.
To all, who are still in there, to you, to you, to all, who are still thinking about getting in: Invest the money better in cocktails.

I invested what is probably a paltry amount to some – £250. Robert H was my contact by WhatsApp phone/message. So many calls that in the end I stopped answering.

I asked that my account be closed as it seemed to be losing money all the time. Robert H said it could take 2 days or 2 weeks. He wasn’t very polite to me. I left it for a While and when I checked my account it was 19 of whatever currency it was. Contacted Robert who was quite rude to me and advised that the account was now closed. Obviously has done this straightaway.

So out of my £250 I had absolutely zero return. Checked my bank account in the hope that he might have transferred what the balance of my account was, but zilch.

What an absolutely con. He tried very hard to get me to invest £1200 and never stopped going on about how much money you could make. Would you like to earn a million in a year he asked.

Regret the day I read the article on Bitcoin and even more elcurrency. I hadn’t expected to be contacted by them or anyone as thought it was something I did. How ignorant I was.

Yo tambiés estoy siendo estafado
De vez en cuando me hablan y me dicen que hay que esperar a cerrar las operaciones.
Pero siguen abriendo y pasando de mi.
Cada vez me contestan menos.
En fin que también lo doy por perdido.
No se sabe donde tienen sus oficinas ni nada, no?

yes, I have very bad experience with Elcurrency . If you want to deposit money you can do that directly and they are calling you from Switzerland and Austria, if you want to transfer money you have to do that to a Polish account (which my bank refused to do as they are on a blacklist) and the company itself is accoording to the website established in Scotland. I am trying to get back my money already for 3 weeks but no response or if you get a response they need to talk to the account manager first……..
Probably I will never see my 5000 dollar, which is still there, back again.

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