Evest Rating - Is Evest a Scam?

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EVest company evaluation

Minimum: $250
Leverage: 1:400
Headquarters: Vanuatu
Licenses: VFSC

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If you can sum up Evest in one sentence, it's standard scam! If you search for the evaluation of EVest, you will find hundreds of sites that evaluated the broker before he even had customers, including new sites, old ones, and even some well-known newspapers, in fact, all of them are fake paid articles, in fact, we did not find a single real evaluation of the broker.

Of course, you cannot rely on paid evaluations. The broker itself or the advertising company contracted with it is the one who writes them, and even some of them have pictures of fake licenses and false information about trading conditions, such as the absence of commissions despite the high commissions in the broker and the purchase of shares directly and even the deposit methods are incorrect. You can deposit through Evest electronic banks, as the evaluation articles claim, and as the broker himself says on his website.

Therefore, we will start from the first article that was published about the broker, which is a paid news article in Finance Magnet about the broker’s first obtaining a license from the Cypriot regulatory authority, which was published on November 20, 2020 Article link Well, in the article the license number is not mentioned, and if you search for the broker on the regulator's website, all you will find when you search for evest ltd is CFGglobal company, and on its data page it was previously known as evest ltd, it is clear that it is not the right company.

So we did a deep search for the Cypriot Evest license, but through the pictures, we found one of the sites that published an evaluation article for the broker, attaching a picture of the Cypriot license for Grandis Securities and the Evest site in the company’s domains, we searched for the license number on the Cyprus regulator’s website 343/17 and found it, but as Shown in the second picture, Evest does not currently have a website. Yes, you can say that Evest is now not regulated in Cyprus.

Cypriot license to live from one of the evaluation sites
evest company evaluation - is evest company a scam?
The same Cypriot license now without Evest

It is worth noting that the Cypriot license number 343/17 was used in marketing by a company called Tradefred, a brokerage company that was closed with depositors' money only before the emergence of evest, and it was working with the same practices, frequent contacts, an account manager causing your loss to the end.

evest company evaluation - is evest company a scam?
Image showing tradefred licenses including the Cypriot license evest used and its current license in Vanuatu
evest company evaluation - is evest company a scam?
An image of a tradefred review article showing that the company that operates it is Magicpath Capital, which operates Evest.

As for the Vanuatu license, which the company now uses on its website, it tells us that the operating company of Evest is Magicpath Capital Limited, a company registered in Vanuatu, Registration No. 17910. The name in the registry is now ARTIFINANCIAL. It is marketed with the same license number as Evest’s current Vanuatu company No. 17910, so if you are asking why the broker tells us that it is a new broker and other times that it has been established since 2018, this is the reason, the broker is a recycling of companies that have been closed and defrauded customers.

evest company evaluation - is evest company a scam?

evest company evaluation - is evest company a scam?
The Vanuatu license that Evest is using now

The money that the company uses in the huge advertisements of articles, evaluations and advertisements in newspapers is not as the broker claims that it collected from investors and that only one person among them who does not want to be named invested in the broker $7 million, in fact it is the money of those who were previously defrauded but with a different name, To appear again in a new form and target a new market, and the cycle of fraud continues.

evest company evaluation - is evest company a scam?Evest depends on the use of personalities, websites, and even YouTube channels that the viewer trusts as a front, but that does not mean that a company that appeared a few months ago is reliable. Other practices that Evest relies on are fake comments, but hundreds of them are fake comments about the moderator. Sometimes, only the name of the author is changed, so you will be able to differentiate between them and the real comments.

Evest especially targets those who have not experienced trading before, not only the beginner, after dozens of calls, the customer is urging to deposit the amount of at least 250$ via a bank card with promises of big profit through a special expert who will accompany him all the way, so there is a percentage of more than 90% lose their money in The broker, but what if the customer wants to withdraw, in this case the procrastination takes place as long as possible, there are those who succeeded in withdrawing, but most were unable to withdraw anything.

Fake comments from evest

As we mentioned above, the company uses fake reviews and comments as a main focus in the marketing process, even this evaluation topic was not spared from it, 24 comments were added praising the company with different data, but the electronic identifier is one, in other words, all of them are from within the company as shown in the picture.

evest company evaluation - is evest company a scam?

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