In this East Capital Markets (ECM) review we explain why you should not trade with this broker.
East Capital Markets is a typical broker that wants you to trade currencies, stocks, commodities, cryptocurrencies and other assets with it. All trading is done via contracts for difference (CFDs), which means derivatives.
What is the minimum deposit with East Capital Markets, what is the minimum trade, how can you deposit, how can you withdraw, what are the fees – these all are questions that remain unanswered on the broker’s website.
Stay away from East Capital Markets
The first thing that should strike you with ECM is the lack of information that we just mentioned. Serious brokers always publish as much information about their trading conditions, but this broker does not do it. It is the first red flag.
When you download the PDF with terms and conditions, they say that the broker is run by MUU Group Limited from Hong Kong. But can you trust this information? We are not convinced.
This means that this broker cannot offer its services legally in most countries in the world. Certainly not in Europe, North America, Hong Kong, Australia or Japan.
It is obvious that owners of East Capital Markets try to hide as much as they can, which always is a bad sign.
East Capital Markets complaints
Last but not least, we found at least one complaint of a client of ECM who is not able to withdraw his money. Which is another reason to stay away from this broker.
East Capital Markets review conclusion
East Capital Markets is an unregulated broker with a dubious reputation. We recommend staying away from it.
In trading you should always use regulated brokers and start on a demo account to try everything risk free.
In trading with real money you have to be careful because you can have profits but also losses.