ECN International is a broker website suspected of fraud. Its official website, www.ecnint.com, has a domain registration date of June 21, 2024. The site claims to offer CFD trading services in forex, precious metals, commodities, indices, and other financial derivatives.
Company Background and Regulatory Status
According to publicly available information on www.ecnint.com, the broker's registered corporate entity is ECN International Limited, which claims to be a registered member of THE FINANCIAL COMMISSION.
Additionally, ECN International claims to be regulated by the Australian Securities and Investments Commission (ASIC) with license number 296805. It also states that it is regulated by the Vanuatu Financial Services Commission (VSFC) with license number 700455.
Upon investigation, the Financial Commission's official website does not list ECN International Limited as a registered member.
Furthermore, the ASIC website shows that the company with license number 296805 is DLS MARKETS (AUST) PTY LTD; the VSFC website shows that the company with license number 700455 is DLS MARKETS LIMITED. Both companies are, in fact, the registered entities of the broker "DLS MARKETS".
Therefore, ECN International Limited is essentially a fraudulent website with no corporate entity, misappropriating other brokers' regulatory information.
Trading Products
ECN International Limited claims to offer various financial derivatives trading services, including forex, precious metals, commodities, and indices.
- Forex: The forex market is the world's largest financial market, primarily used for trading different national currencies. Investors engage in currency pair trading (such as EUR/USD) to profit from price differences. The market is highly volatile, suitable for both short-term and long-term traders.
- Precious Metals: Precious metals like gold and silver are often seen as safe-haven assets, especially during times of economic instability. The precious metals market provides opportunities for hedging against inflation and currency depreciation.
- Commodities: The commodities market includes agricultural products, energy (such as crude oil and natural gas), and other bulk commodities. Prices in this market are usually influenced by supply and demand dynamics, geopolitical situations, and weather changes.
- Indices: Indices reflect the overall performance of specific markets or groups of stocks. Common indices include the S&P 500 and the Dow Jones Industrial Average (DJIA). Index trading allows investors to bet on the market's overall direction rather than individual stocks.
Account Opening Process
The account opening steps at ECN International Limited are as follows:
- Visit the official website and click the "Open Account" button to access the account application page.
- Fill in the email address and login password in the application form, receive and enter the verification code, and submit the form to successfully create an account.
- After logging into the account, users need to complete the KYC verification process before they can start trading.
Trading Account Information
The official website of ECN International Limited claims to offer two types of trading accounts: STANDARD ACCOUNT and ECN ACCOUNT.
STANDARD ACCOUNT:
- Trading platform: ECN International
- Execution speed: Instant execution
- Tradable products: Over 250 currency pairs, indices, commodities, and stock CFDs
- Leverage: Up to 500:1
- Minimum spread: From 1 pip
- Commission: No commission
- Minimum deposit: $200
ECN ACCOUNT:
- Trading platform: ECN International
- Execution speed: Instant execution
- Tradable products: Over 250 currency pairs, indices, commodities, and stock CFDs
- Leverage: Up to 500:1
- Minimum spread: From 0.0 pips
- Commission: $6 per round trip
- Minimum deposit: $200
Trading Platform and Deposit/Withdrawal
ECN International Limited claims to offer the MT4 trading platform to its clients, limited to web versions. However, a search of the MT4 trading platform reveals no information about this broker.
Additionally, the broker supports transactions via Mastercard, Visa, Neteller, Skrill, and Bank Transfer.
Conclusion
Traderknows reminds investors that ECN International Limited is essentially an illegal website with no legitimate corporate entity or regulatory oversight, misappropriating other brokers' information.
When choosing a trading platform, investors should carefully consider regulated companies with transparent information to ensure the safety of their funds and minimize investment risks.
