Economy Pair Review – Swindlers Set Their Eyes On the EU

Everything on economypair.com is just empty promises and no substance. They say they operate with EEA authorization, but don’t have an actual license. The website does look good but hides all of the important information.

Read our Economy Pair Review to find out more about this dangerous unlicensed firm.

Trading In EEA With No Authorization

This company says that they operate under the name of this company within the EEA. The company does not provide any legal information, such as an address, registration number or which regulatory entity issued their license.

Reaching out to various regulatory bodies from the EEA didn’t return any license information about this firm, though. What we did find instead were multiple scam warnings issued by FSMA, and CONSOB.

Other regulators, namely FCA, NFA, FINMA, CNMV and AMF are still silent on the issue. It’s only a matter of time before this fraudulent organization catches their attention, however.

Unregulated brokers like Economy Pair, or Fantex don’t provide necessary safeties like segregated bank accounts, compensation funds or negative balance protection. They often just take their clients’ investment and disappear with the money.

Scammers’ Primary Targets

The swindlers running Economy Pair have launched their platform in late 2022. The company pretends to be a MiFID licensed broker, and targets these countries:

• Netherlands
• Belgium
• Sweden
• Canada
• Norway

The company relies on boiler room agents to get new clients to join the platform. Potential clients will see numerous comments posted by review seller networks, telling them that Economy Pair is a reliable option.

Trading on this firm platform is just a ruse, though. The company won’t let their victims withdraw no matter the amount. If you encounter such issues, contact our legal professionals.

Don’t Trust The Reviews

We can confidently say the online comments posted about Economy Pair on different sites are not to be trusted. TrustPilot, for instance, is flooded with paid reviews who sing praises about this faux broker.

The truth is quite different, though. We’d like to hear about your run-in with this company. With our expertise, you too can recover funds lost with this bogus brokerage.

Con Artists Keep Everything Hidden

Lack of financial information is a strategy that fake brokers like Economy Pair and CMMCI Securities use to prevent the clients from gauging the risk and reward.

The only piece of data readily available on economypair.com pertains to leverage. Even this is misleading, since the account selection offers leverage up to 1:50, but Terms and Conditions indicate leverage up to 1:400.

Either way, it’s higher than the 1:30 leverage cap in the EEA.

Bonus With A Catch

This company offers various deposit bonuses, and uses them to place a withdrawal restriction dependent on the trading volume. Any bonus recipient must achieve at least ¼ of the bonus amount, calculated in trading lots.

This means that somebody who received a $400 bonus must trade 100 lots, or 10 000 000 units before they can withdraw, which is borderline impossible.

Economy Pair Trading Features

Non-clients can’t access any information pertaining to trading features on Economy Pair. This informational opacity doesn’t end when you create an Economy Pair login, however.

You’ll be flying blind until their boiler room agent, or an “account manager” as they call them, approves your account.

Horrible Trading Software

For desktop users, Economy Pair offers 2 types of trading apps – Web Trader, and Desktop Trader. The Desktop Trader is just a standalone version of the same Web Trader software.

Both of these applications are subpar when compared to industry standard software like cTrader, MT4 or MT5.

Selection Of Trading Assets

Allegedly, clients of Economy Pair can trade some 100+ different financial instruments.

Here are a few examples of assets:

• Forex (EUR/USD, AUD/CAD, NZD/CAD, GBP/CHF)
• Cryptocurrencies (Bitcoin, Litecoin, Ethereum)
• Stocks (Caterpillar, Gazprom, Pfizer)
• Energies (Brent, Crude, Natural Gas)
• Futures (S&P 500, DX, GC)
• Indices (DAX, WIX, Nasdaq)
• Spot Metals (Silver, Gold)

Tiered Live Trading Accounts

With this firm, we can see tiered live trading accounts typical with investment schemes. There are no demo, or Islamic accounts available.

Here are the accounts with the required initial deposits:

• Beginner – 5 000€
• Trader – 10 000€
• Expert – 25 000€
• VIP – 50 000€
• Exclusive – 100 000€

Mobile App Is Malware

The alleged mobile app on Economy Pair is dangerous malware known as a Trojan. It can’t be found on App Store or Google Play, and may only be directly downloaded as an android .apk file.

Never trust any mobile app that doesn’t come from official sources. Trojans are made to steal data or spy on users.

Economy Pair Won’t Let You Withdraw

The fraudsters are all too happy to take your money, be it via bank cards, e-wallets or bank wire transfers. They are unwilling to let you withdraw, though, and the bonus policy is invented to create a pseudo legal backing for this.

We have already received a large number of complaints about Economy Pair blocking withdrawals. If you encounter similar problems, book a free consultation with our chargeback experts to weigh your options.

Don’t Trust Customer Support

The people who work in the support center are the same boiler room agents that hook you to the platform to begin with.

Nothing works without them on the platform, and even account creation requires the direct involvement of these boiler room agents. Their job, however, is not to help you resolve problems, but to encourage more spending.

How To Pull Funds From Economy Pair

Economy Pair might seem like a well established brand in the world of CFDs trading, but they are the exact opposite. The company operates in the EEA with no license or authorization. They are already on the black lists of 2 prominent regulatory bodies.

Don’t rely on any promises or warranties these Economy Pair crooks give you. To recover your money, consult with our chargeback experts via the live chat.

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