ANSWER ESPTrader is an unlicensed broker we advise against trading with, despite the seemingly attractive deals it offers.ESPTrader fails to provide company details and regulatory information, a significant scam indicator as legitimate brokers typically display such information prominently to instill trust and transparency. Therefore, any offering of financial services or products by this broker is illegal.Regarding your question, we suggest that you avoid dealing with ESPTrader since it is not subject to any regulations. Once your funds and personal details are controlled by this broker, there are no legal protections to safeguard them. Loss of funds and identity theft are likely to happen, which could be financially and personally devastating. As such, investors are encouraged to stay away from unlicensed brokers like ESPTrader and choose fully regulated ones instead.
See more