Unmasking the Deception: A Critical Review of Esperio as a Scam Broker

Scam brokers are a growing threat in online trading, luring investors with attractive offers and failing to deliver on their promises.

Esperio, a broker that presents itself as a legitimate trading platform, has raised numerous red flags, from inconsistent regulatory information to deceptive promotional tactics. Despite offering attractive terms like high leverage and quick withdrawals, many users report difficulties in withdrawing funds, rapidly changing conditions, and poor customer support—typical traits of scam brokers.

Practices of Esperio: A Closer Look

Esperio, founded in 2019, positions itself as a global broker offering an extensive range of financial instruments, including currency pairs and CFDs on metals, indices, stocks, and cryptocurrencies.

With trading platforms like MT5 and credit leverage up to 1:1000, the company claims to provide fast execution and clean spreads from liquidity providers. Esperio promotes its Copy Trading service, VIP client offerings, and 24/7 customer support.

Despite these claims, traders should be cautious as it operates without proper regulation, making investor protection uncertain.

_{The screenshot of Esperio's website}

Is Esperio Regulated?

Esperio claims to be owned and operated by OFG Cap. Ltd registered under St. Vincent and the Grenadines Financial Services Authority (SVG FSA) with registration number 2482 BC 2012. While this firm appears in the SVG FSA registry, it casts doubt on the broker's legitimacy and regulation as the Authority does not regulate forex activities.

Investors should exercise caution as regulatory oversight appears uncertain.

_{Esperio claims to be operated by a SVG FSA-registered company}

Clientele Feedback

The feedback on Esperio is mixed with praise and criticism. Users’ express dissatisfaction with deceptive promotions, withdrawal issues, limited leverage, and the lack of a regulatory license, raising concerns about security and trustworthiness.

_{Negative reviews}

What Makes Esperio A Scam?

Regulatory Warning from NSSMC

In August 2022, the Ukrainian regulator, the National Securities and Stock Market Commission (NSSMC), issued a warning against Esperio, cautioning investors about the broker's suspicious practices. This regulatory alert raises significant concerns about the broker's legitimacy and conduct in financial markets.

_{NSSMC warning}

Deceptive Promotions and Changing Rules

Esperio has been criticized for misleading promotions. It offers $100 promotional accounts with promises of profit withdrawals after a $20 deposit. However, users report that the terms often change, preventing the withdrawal of any profits. This bait-and-switch approach indicates dishonesty in its promotional practices.

_{Deceptive promotion}

Withdrawal Issues and Poor Customer Support

Several clients have experienced prolonged delays in withdrawing their funds, often having to resort to filing formal complaints—Esperio's lack of transparency regarding its agents and ever-changing conditions further fuel concerns.

Support services, both online and phone, have been described as unhelpful, with representatives offering useless responses rather than addressing real problems.

_{Poor customer support}

Lack of Regulatory Licensing and Company Information

Esperio's website lacks transparency, offering little information about the company or its leadership. Furthermore, the broker operates without licenses, heightening the risk for investors and making it a highly questionable option for safe trading.

Bottom Line

Esperio's deceptive practices, regulatory warnings, and poor customer service make it a highly unreliable broker. Investors are advised to avoid trading with this firm. Brokersview is crucial in exposing scam brokers like Esperio and helping traders stay informed and protected.