Egmarkets

Our investigation into Egmarkets found an operation with the classic markings of an investment scam. If you are weighing a deposit — or trying to get one back — read this first.

Who is Egmarkets?

Egmarkets markets itself as an online trading and investment service. Its public site is presented at https://www.egmarkets.trade/. As with most operations of this kind, the polished front end conceals a lack of the basic protections a real, regulated broker is required to provide.

Is Egmarkets regulated?

We could find no evidence that Egmarkets holds a valid licence from any recognised financial regulator. Trading client funds without authorisation is one of the strongest indicators of a scam — there is no regulator to complain to, and no protection for your money.

Red flags we identified

• Withdrawals reportedly blocked behind “taxes,” “fees” or account “upgrades”
• Unrealistic profit claims and pressure to deposit more
• Account dashboards that show “gains” with no real market exposure
• No verifiable licence from a recognised financial regulator
• Offshore or shell-company registration used to avoid oversight

Our analysis

Egmarkets is not a reliable broker even though it states offers that look good to be true. Egmarkets claims it is a trading name of Eagle GM Limited, a company registered in Nigeria with registration number: RC1322866. However, as per the information we hold, Nigeria does not have any authorities that issue licenses for forex brokers or regulate forex activities. Besides, Egmarkets mentions two subsidies of Eagle GM Limited are registered in the Companies House of the United Kingdom (CH). We do find match results to the two subsides in CH. However, CH is the United Kingdom's registrar of companies which has no legit rights to regulate any forex activities. Having registration does not mean having any regulation. As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK financial regulator – FCA. However, we did not find any match results to Egmarkets in FCA. That means Egmarkets is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Can you recover money lost to Egmarkets?

If you have deposited with Egmarkets, do not pay any further “fees” to withdraw — that is part of the trap. Funds sent to operations like this can sometimes be traced on-chain and pursued through the exchanges and processors that received them. Whether recovery is realistic depends on how you paid and how quickly you act.