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Does ELV markets offer fixed spread?
Graham Alkema
Honduras
2023-07-18
ANSWER Our investigation has revealed that ELV markets is an unregulated broker, a trading platform potentially posing a huge risk to investors' funds and personal information. Therefore, we strongly suggest you proceed with extreme caution and have no further dealings with it.ELV markets claims to be the trading name of ELV markets Limited, a company registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under registration number 26248 BC 2021. Although it is true that corresponding records are included in the regulator's register, it is crucial to note that the offshore financial watchdog has explicitly stated that it neither issues licenses for forex trading or brokerage nor regulates entities involved in such activities. As such, ELV markets remains unsupervised by the relevant regulatory body.ELV markets also purports to be registered in Marshall Island. However, no corresponding data can be found in the registry of Marshall Islands Registry (IRI). Furthermore, the IRI is only a privately held registrar.More importantly, the Comisión Nacional del Mercado de Valores (CNMV) has added ELV markets to its warning list for providing investment services without authorization.In essence, ELV markets is an unregulated broker illegally providing financial services or products. Once your funds or personal data are held by this fraudulent trading platform, there are no rules in place to safeguard them. Therefore, investors are encouraged to stay away from unregulated brokers like ELV markets and instead choose a fully regulated one.
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