Evolution Brokers Review (2023)

Is Evolution Brokers a scam or legit broker?

No, it is not safe to trade with Evolution Brokers. Evolution Brokers is owned by Maximus Global Marketing LTD, which is an offshore company licensed in St. Vincent and the Grenadine.

St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Capital TradeFX, JustForex and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

Evolution Brokers is a Forex and CFD trading provider that claims the lowest spreads (See the List of Low Spread Brokers) in an industry that maximizes the profit through its established ECN/ STP execution and secure accounts.

Moreover, the Evolution Broker states its negative balance protection and implementation of highest level risk management tools, while all client funds are kept in segregated fund accounts.

The main concern is the states that seemed to be very professional and actually necessary for a reputable broker, are not confirmed by any of the authorities. As the Evolution Brokers located in an offshore zone, in St. Vincent and the Grenadine, and didn’t bother to obtain a license that will ensure customer protection, all above said is not guaranteed.

The mission of industry authorities is to regulate numerous financial investment firms, report every move and statement they claim along to the protection of the client’s interest in every step.

In regards to Evolution Brokers, they are offering is quite standard, while the firm is not among the recommended brokers that may involve clients in potential fraudulent investment. In addition, there are numerous complaints revealed by the traders engaged with Evolution Brokers, as well as a warning notification from the FINACOM.

“The warning list is to inform the public of companies, including Evolution Brokers, that we do not recommend to trade with, following numerous reports and complaints filed by customers regarding non-member firms concerning fraud or wrongdoing.”

FINACOM. June 2018.

Conclusion

We advise all investors and traders to avoid Evolution Brokers and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and FP Markets.

You can also share your trading experience with Evolution Brokers by commenting on this review.

Evolution Brokers website is no longer active.