EmiDeals

EmiDeals is just like any other offshore and scammer broker. Nothing separates it from the bulk of global scammer brokers. The review gives it all away.

According to the terms and conditions, users must abide in accordance to his own local laws in order to trade with EmiDeals. This provision completely ignores the basis rule applied to all brokers- that the firm itself must be fully licensed, and not the user. EmiDeals shifts the responsibility on the broker's shoulders, without any right to do so!

The legal docs also mention Vanuatu as a place where the client-broker agreement is regulated. This must mean that the broker is licensed by the local Vanuatu Financial Services Commission. We checked with the regulator and found no results that EmiDeals is licensed.

On the main website we find that the broker claims to be a holder of multiple licenses, including CySEC, the IFSC in Belize, the DFSA in Dubai, ASIC, the Vanuatu Services Commission, the FSCA in South Africa, and the CFTC.

The Vanuatu regulation we already checked, and know for a fact that is a lie. But what about the rest? It doesn't take an expert to realize that EmiDeals has lied about all the licenses. The aforementioned regulators are some of the most notorious ones, and to allow EmiDeals in their midst will be unbecoming of them.

Overa,, EmiDeals is unregulated, and a risk to all.

Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

After an easy registration, we were redirected to a web trade that also functioned as the entire client portal. This approach is a common one for unlicensed brokers.

From the web trader, we read a 0.3 pips for the EUR/USD pair, while the available assets are cryptocurrencies, ETFs, forex currency pairs, indices, commodities, and stocks. The leverage is capped at 1:20 for currency pairs.

EMIDEALS LOGIN

Even though there is a functioning web trader, the news is still not the best. The web trader used by EmiDeals is a popular scammer one used by many unlicensed brokers around. We saw this same web trader a couple of times the last couple of weeks, which says a lot about what type of people use it.

Moreover, there aren't many things to do here. Compared to other, legit, terminals this one definitely falls way behind.

EMIDEALS MINIMUM DEPOSIT

All deposits are at a risk of being lost forever. Do not invest here!

From the client portal we saw that there is only one single way of investing, if you can call that investing. The user is encouraged to send a given amount of money to a BTC wallet. There is no telling where this wallet address leads to, and we doubt that the user will fund her account in this way. Actually, we believe that once the user has financed the wallet, her money will be lost.

There is no minimum investment6 requirement, even though the website claims it to be $25 000, whihc is a ridiculous amount. Usually on legit and high roller brokers can allow themselves to limit deposits to such a degree; not illicit and scammer brokers.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

EMIDEALS WITHDRAW TIME AND FEES

If you have made the grave mistake of investing, well we have bad news for you. Most likely  the broker will never allow you to withdraw, although there are a couple of ways to turn the tables around.

From the user area, we found no way to withdrawal. I.e, there was no sub page dedicated to withdrawals. So, EmiDeals literally has blocked all withdrawals. If you needed a final reason not to invest here, it doesn't get any worse than this.

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

EmiDeals is an utter scam! Please ignore this broker and let it dissipate into obscurity, as most scammer firms eventually do.