Score
EratoFX
New Zealand|5-10 years| http://www.eratofx.com/en/
Website
Rating Index
Contact
Licenses
Licensed Institution：Erato Services Group Limited
License No.：539646
Single Core
1G
40G
1M*ADSL
- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
Basic information
New Zealand
Scam Brokers 5-10 years Suspicious Regulatory License Suspicious Scope of Business New Zealand Financial Service Corporate Revoked Suspicious Overrun High potential riskUsers who viewed EratoFX also viewed..
XM
- 10-15 years |
- Regulated in Australia |
- Market Making(MM) |
- MT4 Full License
GTCFX
- 10-15 years |
- Regulated in United Kingdom |
- Straight Through Processing(STP) |
- MT4 Full License
Vantage
- 10-15 years |
- Regulated in Australia |
- Market Making(MM) |
- MT4 Full License
FBS
- 5-10 years |
- Regulated in Australia |
- Market Making(MM) |
- MT4 Full License
Website
eratofx.com
Server Location
United States
Website Domain Name
eratofx.com
ICP registration
沪ICP备17023776号-1
Website
GRS-WHOIS.HICHINA.COM
Company
HICHINA ZHICHENG TECHNOLOGY LTD.
Domain Effective Date
0001-01-01
Server IP
23.253.102.162
Company Summary
General Information & Regulation
EratoFX is forex and CFD broker, owned and operated by Erato Services Group Limited, a New Zealand-registered company that does not fall under any regulatory agency. Traders should take extra vigilance when investing with this broker, or just stay away from this broker.
Risk Warning
EratoFX is a Ponzi Scheme. The scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own. Some red flags of a Ponzi Scheme:
High investment returns with little or no risk
Overly consistent returns.
Unregistered investments
Unlicensed sellers
Secretive or complex strategies.
Issues with paperwork.
Difficulty receiving payments
Official Website Unavailable
Since EratoFX website cannot be opened or unavailable at this stage, we can only find minimal information about this broker from some broker reviews portals.
Market Instruments
EratoFX advertises that it can offer forex currency pairs, indices, metals, as well as crypto currencies. .
Minimum Deposit
EratoFX seems to require a minimum deposit of $500. Keep in mind that most legit brokers only ask its traders to fund around $100 or even less into their accounts to start real trading.
Leverage
In terms of trading leverage, the maximum leverage level offered by EratoFX is up to 1:500, which is considered high. Although this trading leverage is generous, inexperienced traders are not advised to use too high leverage given the fact that margin trading is full of risks.
Spreads & Commissions
EratoFX only hypes that it offers low spreads, but does not specify its spreads on particular instruments. Unregulated brokers love to scam traders by hiding their real trading costs, but in fact, trading on its platforms usually costs immensely much.
Trading Platform Available
When it comes to trading platform available, EratoFX does not make this part clear. As an unregulated and scam broker, it can be risky to trade with it no matter what trading platforms it offers.
Keywords
- Scam Brokers
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- New Zealand Financial Service Corporate Revoked
- Suspicious Overrun
- High potential risk
Content you want to comment
Please enter...
TOP 
Chrome
Chrome extension
Global Forex Broker Regulatory Inquiry
Browse the forex broker websites and identify the legit and fraud brokers accurately
Install Now