A new report from Traders Union (TU) experts advises investors to carefully weigh the risks before opening an account with cryptocurrency broker Evolve Markets.
The analysis gives Evolve Markets an overall score of 5.5 out of 10 based on reviews from clients and an assessment of over 100 criteria relating to services, fees, and accountability. Out of 383 brokers rated by TU, Evolve Markets ranks at 78th place.
AccordingTU expert Anton Kharitonov, Evolve Markets represents a “moderate risk” for traders. While the company offers competitive trading conditions including high leverage and a range of assets, Kharitonov notes that “not all clients are satisfied” based on user reviews. He recommends analyzing the pros and cons thoroughly before committing funds.
Gaining experience through demo trading
One way to gain trading experience with less risk is to practice strategies using a simulator. According TU, a day trading simulator is a software program that allows trading stocks, Forex, and other financial instruments without risking any real money. As an example, eToro offers a virtual portfolio feature allowing to trade markets using demo funds. This can help develop skills reading charts, testing strategies and managing risk before putting real capital at stake.
When reviewing simulators, the key factors Traders Union considers include amount of demo funds, access to real-time vs historical data, variety of trading instruments, analysis tools and more. While strong performance in a simulator environment does not guarantee profits with actual capital, it can boost confidence if used prudently over an extended timeframe. For wider information, see details on the Traders Union website.
Security measures and trading conditions at Evolve Markets
Founded in 2016 and based in the Republic of Seychelles, Evolve Markets operates under an international financial license from the Maldives’ MWALI Authority. The brokerage specializes in cryptocurrency trading, with a range of crypto coins available alongside stocks, forex, indices, and commodities.
Security is considered a top priority by the company. An Traders Union article about Evolve Markets was published by Packageslab. As mentioned suggests, “Cryptocurrency trading requires security, which Evolve Markets takes seriously. The platform protects your valuables with superior encryption and cold storage. It also allows two-factor authentication to secure your account”.
In their words, Evolve Markets confirms their dedication to providing a secure trading environment saying, “Security of client funds and data is our top priority, that is why we took rigorous steps to ensure a reliable trading experience. We specialize in working with cryptocurrency by using a battle-tested solution to keep our clients’ funds safe.” That is an indication that security is appropriately prioritized through encryption, platform protections, and insurance coverage, noted TU analysts.
Low trading fees should appeal especially to high-frequency traders seeking to maximize profits. However, TU identifies shortcomings around execution quality, price anomalies, and even accusations of manipulation from some users.
Client reviews and experiences with Evolve Markets
The user reviews on the Traders Union website range widely, some client reviews reveal major concerns about the Evolve Markets trading platform and overall integrity.
One user called the company “a scam” after subscribed signals consistently lost money, with managers encouraging risky over-leveraged trades. Unable to withdraw the remaining funds, he lost his full balance.
Another trader reported suspicious price spikes and discrepancies between Evolve Markets and other data sources. Support blamed connectivity issues, but he suspected artificial slippage was introduced deliberately by the brokerage to produce losses. After $300 of attempted trades, he also closed his account at a complete loss.
A third client highlighted execution issues on live accounts preventing openings or closures at expected market prices. He also suffered sudden price gaps that negated his trading approach entirely. “Strongly advise against using Evolve Markets,” the trader concludes based on his unsatisfactory experience.
A fourth reviewer initially funded $500 after reading positive reports, but soon faced “constant losses” they attributed to platform manipulation between demo and live accounts. Withdrawing their $47 balance proved difficult enough to dissuade further use.
Expanding on client reviews, the Traders Union report highlights the instability of the Evolve Markets platform itself as a top concern given frequent downtimes, execution errors like slippage or requotes, and price gaps.
While stopping short of declaring Evolve Markets an outright “scam,” the analysis compares trading outcomes to gambling – more dependent on luck than skill or reliable access to markets. Some brokers may offer more favorable opportunities for profit-making.
According real traders Evolve review from TU, information about criticisms should concern prospective investors enticed by strong promotional claims around security, cutting-edge technology, and integrity. With accounts nominated in volatile cryptocurrencies, the risk posed by technical issues or market distortions cannot be understated. Slow withdrawals also appear to be a recurring issue.
For investors considering passive options on Evolve Markets, TU confirms no turnkey mirrored trading or interest-bearing investment products currently exist. However, functionality allows easily copying expert signals or social feed traders for a monthly subscription.
This carries inherent crypto risks around volatility and security. However, trusting positions to seasoned traders can benefit new investors lacking experience, while costs remain lower than traditional funds. Enthusiasts can also publish trades as “signal providers” to generate income from subscribers copying their portfolios.
Furthermore, the report noted that the broker provides traditional affiliate marketing relationships, paying partners up to 20% commission on referred client losses. A portion of fees from active trading may also be redistributed to third-party signal providers integrated into Evolve’s platforms. But subscribers face monthly subscription costs for unreliable performance, with no refunds.
Conclusion
Ultimately Traders Union noted, the onus falls on investors themselves to generate profits from Evolve’s high-risk trading environment. For traders seeking access to wide-ranging crypto coins and cheap leverage unavailable at strictly regulated brokers, Evolve Markets uniquely bridges the gap between costly cold wallet storage and risky unlicensed offshore platforms. However, with leveraged positions and spread costs amplifying losses during suspicious platform outages or misleading price jumps, investors lose not just deposits but owe additional deficits from margin calls. More established brokers emphasizing stability, security, and customer support over scale may better serve traders lacking risk appetite.
About the author
The author of this article Oleg Tkachenko, is involved in expanded reviews of brokerage companies, and in monitoring the relevancy of the information provided in them.
