Overview of Ever Rich Global limited
Ever Rich Global Limited is a financial company that was founded in 2022. The company, based in an unknown country. In terms of account requirements, Ever Rich Global Limited has a minimum deposit of $200. The company offers a maximum leverage of 500:1, allowing traders to amplify their positions.
The tradable assets available on Ever Rich Global Limited include forex, crude oil, and precious metals. Unfortunately, Ever Rich Global Limited does not offer a demo account for traders to practice and familiarize themselves with the platform before committing real funds.
For customer support, Ever Rich Global Limited can be reached via email at support@everrichltd.com. When it comes to education, Ever Rich Global Limited offers limited or no educational tools. It is therefore recommended for traders to seek additional educational resources and knowledge elsewhere to enhance their trading skills and strategies.
Is Ever Rich Global limited legit or a scam？
Ever Rich Global Limited claims to be regulated by the National Futures Association (NFA) under the regulatory license number 0549656. However, a diligent investigation into this claim reveals that Ever Rich Global Limited is not affiliated with or recognized as a member of the NFA.
This discovery casts doubt on the legitimacy and trustworthiness of Ever Rich Global Limited's regulatory status. The fact that the company makes a false assertion regarding its regulatory affiliation raises concerns about its adherence to industry standards and client protection measures.
Market Instruments
Ever Rich Global Limited offers a limited range of market instruments, encompassing three classes of trading instruments, namely Forex, Crude Oil, and Precious Metals. Indeed, the selection is comparatively modest
The Forex market, known as the largest and most liquid financial market globally, allows traders to engage in currency trading. With a wide range of currency pairs available, clients of Ever Rich Global Limited can participate in foreign exchange transactions, seeking to capitalize on currency rate fluctuations and potentially generate profits.
In addition to Forex, Ever Rich Global Limited provides access to the Crude Oil market, an essential and highly sought-after commodity. Crude oil, with its significant impact on the global economy, presents opportunities for traders to speculate on price movements and potentially benefit from the dynamics of this market.
Moreover, Ever Rich Global Limited offers access to Precious Metals, which includes renowned assets like gold and silver. Precious metals have traditionally been viewed as safe-haven investments, especially during times of economic uncertainty. Traders who opt for these instruments may seek to diversify their portfolios and potentially benefit from fluctuations in the prices of precious metals.
Account Types
Regrettably, Ever Rich Global Limited lacks transparency and clarity when it comes to their account types. Furthermore, it is disappointing to note that Ever Rich Global Limited does not provide a demo account. Demo accounts, commonly utilized by traders, especially beginners, serve as a valuable tool for practice and familiarization with the trading platform and market conditions, without risking real funds.
Moreover, the minimum deposit requirement of $200, as mentioned by Ever Rich Global Limited, may deter individuals, particularly those new to trading, from considering their services. With such a minimum deposit, it is evident that the company's offerings might not be welcoming or friendly to all traders, including beginners who tend to start with smaller investment amounts as they venture into the trading world.
Leverage
Ever Rich Global Limited offers its clients a leverage option that can reach up to 1:500. This level of leverage can be enticing to traders who seek to maximize their potential profits and capitalize on market movements. It affords them the opportunity to control larger positions and potentially magnify returns on their investments.
However, it is crucial for traders to exercise caution and fully comprehend the implications of high leverage. While it can enhance potential rewards, it also amplifies the risks associated with trading.
Spreads & Commissions (Trading Fees)
Ever Rich Global Limited fails to provide clear and transparent information regarding their spreads and commissions. This lack of disclosure is concerning, as it gives rise to suspicions about the existence of potentially hidden fee structures that may be disadvantageous to traders.
Furthermore, negative reviews online citing instances of slippage when trading with Ever Rich Global Limited exacerbate concerns about the fairness and integrity of their trading environment.
Non-Trading Fees
Ever Rich Global Limited does not provide explicit information regarding their non-trading fees. Non-trading fees encompass various charges that are not directly associated with placing trades, such as deposit and withdrawal fees, account maintenance fees, or inactivity fees.
Trading Platform
Ever Rich Global Limited offers the widely recognized and industry-standard MetaTrader 5 (MT5) trading platform to its clients. MT5 is a versatile and technologically advanced platform that provides traders with a wide range of features and tools to facilitate their trading activities.
In addition to its functionality, the MT5 platform offers advanced charting capabilities and a wide range of technical analysis tools. Traders can access various chart types, timeframes, and indicators, empowering them to conduct thorough market analysis and make well-informed trading decisions.
Deposit & Withdrawal
Ever Rich Global Limited offers an extremely limited range of payment methods for deposits and withdrawals. Traders are limited to using VISA, Mastercard, Bitcoin, and Alipay, which severely restricts their options and flexibility. By not providing a broader selection, Ever Rich Global Limited fails to meet the diverse needs and preferences of its clients.
Adding to the disappointment, the broker fails to provide detailed information regarding associated fees and processing times for these payment methods. By keeping clients in the dark about these crucial details, Ever Rich Global Limited demonstrates a disregard for transparency and customer satisfaction.
Customer Support
Ever Rich Global Limited offers customer support exclusively through email, with inquiries directed to support@everrichltd.com. Honestly, email communication may not always be the most efficient or timely method of resolving urgent or pressing concerns. The absence of alternative means of contact, such as phone support or live chat, limits the immediacy and responsiveness of the customer support experience.
Educational Resources
Ever Rich Global Limited, unfortunately, does not offer any substantial educational resources to assist traders in their pursuit of financial knowledge and success.
Is Ever Rich Global limited suitable for beginners？
Ever Rich Global Limited, unfortunately, is not an ideal choice for beginners for several reasons. Firstly, their minimum deposit requirements are unfriendly towards novice traders who may have limited capital to invest.
In addition to the daunting minimum deposit requirements, Ever Rich Global Limited also fails to offer demo accounts. These simulated trading environments provide beginners with a risk-free opportunity to practice their trading strategies, explore different markets, and familiarize themselves with the platform's features.
Furthermore, the lack of educational resources exacerbates the challenges faced by beginners using Ever Rich Global Limited. Novice traders require comprehensive educational materials to develop a solid foundation of knowledge and understanding in trading concepts, strategies, and risk management.
Is Ever Rich Global limited suitable for experienced traders？
Ever Rich Global Limited does not cater well to experienced traders, as it falls short in several critical aspects. Firstly, their trading platform is lacking in advanced trading tools and features that experienced traders rely on for their sophisticated strategies.
Adding to the challenges faced by experienced traders, Ever Rich Global Limited exhibits a lack of transparency concerning spreads and commissions. Experienced traders understand the significance of transparent and competitive pricing. However, the absence of clear information on spreads and commissions from Ever Rich Global Limited leaves experienced traders uncertain and wary about the true costs involved in their trading activities.
Furthermore, the limited transparency on spreads and commissions raises concerns about potential hidden fees or unfavorable pricing structures. This lack of clarity compromises the trust and confidence that experienced traders require to make informed decisions. Without transparent information on costs, experienced traders are left in a state of unease, questioning the fairness and competitiveness of the broker's pricing.
Conclusion
In conclusion, Ever Rich Global Limited does not meet the expectations of both novice and experienced traders. The high minimum deposit requirements and the absence of demo accounts present significant barriers for beginners, impeding their ability to access the platform and gain practical experience. On the other hand, experienced traders are dissatisfied with the limited trading platform that lacks advanced tools and features necessary for executing sophisticated strategies effectively. Furthermore, the lack of transparency on spreads and commissions raises doubts about the fairness and competitiveness of the broker.
FAQs
Q: Are the spreads and commissions transparent with Ever Rich Global Limited？
A: Transparency regarding spreads and commissions is a concern with Ever Rich Global Limited, leaving traders uncertain about potential hidden fees and unfavorable pricing structures.
Q: Is Ever Rich Global Limited suitable for experienced traders？
A: Experienced traders may find Ever Rich Global Limited less attractive due to its shortcomings, such as the absence of advanced tools and lack of transparent pricing.
Q: Are there alternative brokers that may be better-suited for beginners and experienced traders？
A: Yes, aspiring and seasoned traders are advised to explore alternative brokers that offer lower minimum deposit requirements, comprehensive demo accounts, robust educational resources, advanced trading tools, and transparent pricing structures to enhance their trading journey.
Q: Does Ever Rich Global Limited offer demo accounts？
A: No, Ever Rich Global Limited does not provide demo accounts, limiting the ability of traders to practice and familiarize themselves with the platform in a risk-free environment.
Q: What is the minimum deposit requirement for Ever Rich Global Limited？
A: The minimum deposit requirement for Ever Rich Global Limited is $200.
