Esplanade-MS is an offshore forex broker that claims to be registered in the United Kingdom. However, there is no evidence to support this claim. The broker is not regulated by any financial authority, and its website is full of red flags.
Company Overview
Esplanade-MS was founded in 2014 and is headquartered in St. Vincent and the Grenadines. The broker claims to offer a wide range of trading instruments, including forex, stocks, commodities, and indices. However, there is no evidence to suggest that the broker actually has access to these markets.
Does Esplanade-MS Have Any License?
No, Esplanade-MS does not have any license. The broker claims to be regulated by the Financial Conduct Authority (FCA) in the United Kingdom. However, the FCA has confirmed that Esplanade-MS is not regulated by them.
Is Esplanade-MS Regulated By Any Authority?
No, Esplanade-MS is not regulated by any financial authority. This means that there is no one to oversee the broker’s activities or protect traders in the event of fraud or bankruptcy.
Also, the Bulgarian court confirmed to shut down this broker’s activity including other 40 brokers.
Pros and Cons
Pros:
- None
Cons:
- Not regulated by any financial authority
- Numerous red flags on the website
- Negative reviews from traders
How Does Esplanade-MS Reach To Their Prey?
Esplanade-MS reaches its prey through a variety of channels, including online advertising, social media, and cold calling. The broker often targets inexperienced traders with promises of high returns and low risk.
Technical Details
Esplanade-MS offers the MetaTrader 4 trading platform. This is a popular platform, but it is important to note that it is not affiliated with Esplanade-MS.
Minimum Deposit:
The minimum deposit at Esplanade-MS is $250. This is relatively low compared to other brokers. However, it is important to note that there is no guarantee that you will be able to withdraw your funds from the broker.
Trading Platform:
Esplanade-MS offers the MetaTrader 4 trading platform. This is a popular platform that is known for its user-friendly interface and powerful charting tools. However, there is no evidence to suggest that the broker actually uses the MetaTrader 4 platform.
Spread:
Esplanade-MS claims to offer competitive spreads from 0-3 pips.
Leverages:
Esplanade-MS offers leverage of up to 1:1000. This is a very high leverage ratio, and it is important to note that it can amplify both your profits and losses.
Packages and Products They Offer
Esplanade-MS claims to offer a wide range of trading instruments, including forex, stocks, commodities, and indices. However, there is no evidence to suggest that the broker actually has access to these markets.
The accounts they are providing now are:
Withdrawal and Deposit Method
Esplanade-MS accepts deposits and withdrawals through a variety of methods, including credit/debit cards, bank transfers, and e-wallets. However, there is no evidence to suggest that the broker actually processes withdrawals in a timely manner.
What Do Their Previous Traders Say?
Esplanade-MS has a very bad reputation among traders. Many traders have reported that the broker has stolen their money or refused to process withdrawals.
Summing Up- Why Should Not You Trust Esplanade-MS
There are many reasons why you should not trust Esplanade-MS. The broker is not regulated by any financial authority, it has a bad reputation among traders, and there is no evidence to suggest that it is actually a legitimate broker.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have been scammed by Esplanade-MS, you can try to recover your funds by filing a complaint with the financial authority in your country. You can also try to contact the broker directly and demand your money back. However, it is important to note that there is no guarantee that you will be able to recover your funds.
Our professionals can help in that case. They can provide you a tailored guidelines according to your case. Also, our recommended recovery services can surely help you.
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Final Thoughts
Esplanade-MS is a scam broker that you should avoid at all costs. The broker is not regulated by any financial authority, it has a bad reputation among traders, and there is no evidence to suggest that it is actually a legitimate broker.
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