Evolve Markets Review
Now Includes Crypto!
EvolveMarkets is a Forex, commodities, indices and "crypto". Whilst it isn't regulated (meaning that it doesn't have to abide by the "KYC" (Know Your Customer) regulation - meaning US customers are free to join.
The company is based in St Vincent & Grenadines - registered as Evolve Markets ltd. Since it is outside the jurisdiction of both the SEC (USA) and FCA (UK), it doesn't have to apply to be regulated to either body.
As a word of warning, any "offshore" company like this is generally considered very high risk. Not only do you have to trust where the money is going, but you also need to ensure that you have a safety net in case anything should go wrong.
If you are dealing with a regulated company in the UK or US, you generally have a clear image of where they money is going, who the company is and ultimately how they're going to deal with you. Most people don't have any idea about the veracity of the offshore brokers, and thus you often hear "horror stories" about people who lost large sums of money with them.
EvolveMarkets looks legitimate, but if there is any change of ownership, or some other sort of problem, it could end up that you are without money, or service, and there will be no way to actually get it back (unless you to go to St Vincent & Grenadines).
To this end, we generally recommend staying clear of offshore companies. Whilst EvolveMarkets seems fine, it has a problem with support and several other issues. Despite these having the ability to be fixed, they don't really provide users with the most assurance.
The system has the following features:
Like all other brokers/platforms today, EvolveMarkets provides users with the ability to track their current portfolio as well as buy into new assets.
The most important thing to remember here is that the platform is typically focused on providing users with the ability to make timely investments in all sorts of different asset classes.
Again, like many other brokers / platforms, EvolveMarkets includes its own mobile interface which is actually built on top of MT4. This means that you're able to use it on Android or iOS.
This is one of the few Forex brokers in a position to actually provide users with a quality service regardless of their location, EvolveMarkets' offering of being able to access over 150+ markets (including "crypto") makes it a strong proposition...
The underpin of this is that if you're looking at getting the system to the level of having a sustainable income from it, you want to ensure that you're actually able to get the most out of it with the most appropriate safety nets.
Unfortunately, a large number of Forex brokers/platforms have issues with closing out trades and other issues. EvolveMarkets doesn't seem to have technical issues, but certainly doesn't create confidence in the way its backend company isn't registered.
This is especially important when considering their "crypto" offering is based around CFD's - which mean you're not purchasing the core asset itself, rather a "contract" with the broker... which is typically leveraged (backed by debt). If you lose on this contract, you could end up owing a lot more than you originally put down.
We give the service 4 / 5.
The main problem is that it's based in St Vincent & Grenadines. This wouldn't be a problem however due to the way in which most "offshore" systems are not regulated.
Ultimately, you have to understand that EvolveMarkets is just one of many brokers/platforms, most of which are in a much more reputable and strong position. IG - for example - is one of the highest recommended and is fully regulated in the UK.