Esmond International Markets Pty Ltd is a forex and contract for difference (CFD) brokerage firm established in Australia in 2023, with its headquarters located in New South Wales. It primarily offers CFD trading services for forex, commodities, indices, and more. This broker does not provide services to jurisdictions where it might violate local laws or regulations, including but not limited to the United States, Afghanistan, Belarus, Myanmar, Central African Republic, Congo, Cuba, Egypt, Guinea, Iraq, Iran, Lebanon, Libya, Mauritius, North Korea, Pakistan, Somalia, Sudan, Syria, Venezuela, Yemen, Zimbabwe
Company Background:
The official website of Esmond International Markets Pty Ltd claims its establishment in New South Wales, Australia in 2019, with the company entity being Esmond International Markets Pty Ltd. However, this information provided by the company contradicts the information available on the official website of the Australian Securities and Investments Commission (ASIC). The ASIC website indicates that the company was established in September 2023, with a company registration number of 671 597 550. The company's establishment date is less than one month ago. Additionally, the company does not possess an Australian Business Number (ABN), potentially raising questions about its ability to engage in commercial activities or business transactions in Australia.
Moreover, according to Whois information, the official website domain of this brokerage was registered on September 22, 2023, making it less than one month old from the registration date.
Regulatory Information:
Esmond International Markets Pty Ltd's official website claims that it is regulated by the Australian Securities and Investments Commission (ASIC) with certificate number 001305942. Information obtained from the ASIC website confirms that this brokerage has indeed purchased an Authorized Representative (AR) license from MGF CAPITAL PTY LTD. However, it's essential to highlight that the regulation provided through the AR license may offer weaker regulatory oversight and investor protection.
What's more critical is that MGF CAPITAL PTY LTD has sold AR licenses to more than 20 similar entities, including Esmond International Markets Pty Ltd. These entities have no direct affiliation with MGF CAPITAL PTY LTD but are using AR licenses purchased from MGF CAPITAL PTY LTD for promotion, raising concerns of potential fraudulent activity.
Trading Products:
Esmond International Markets Pty Ltd offers a variety of financial instruments for trading, including:
Forex: Providing opportunities to trade various currency pairs in the forex market. Forex CFDs allow investors to speculate on price changes between one currency and another. Examples of available currency pairs include EUR/USD, GBP/USD, USD/JPY, and more.
Commodities: Commodity CFDs allow investors to potentially profit from price fluctuations in raw materials and resources. Commodities include crude oil, copper, iron ore, and more. Commodity CFDs enable investors to participate in various commodity markets without holding physical assets.
Indices: Index CFDs enable investors to trade based on the price performance of market indices without purchasing or selling the actual component stocks or assets.
These products provide investors with opportunities to access different financial markets and manage risk through various investment portfolios.
Trading Platform:
Esmond International Markets Pty Ltd provides the widely recognized MT4 platform for forex trading. The MT4 software offers a customizable interface with various technical analysis tools, customizable charts, and a range of built-in indicators such as MACD, KDJ, CCI, and more. The platform is compatible with various devices, including PC, web, and mobile platforms like iOS and Android, making it accessible to investors.
Account Registration:
The official website of Esmond International Markets Pty Ltd provides a link for account registration but does not specify whether the registration is for a demo or live account. The registration process typically involves providing personal information, such as trading name, country, phone number, email, and password, as per the website's requirements.
Account Types:
The official website of Esmond International Markets Pty Ltd does not provide information regarding different account types.
Deposits and Withdrawals:
The official website of Esmond International Markets Pty Ltd provides deposit and withdrawal methods, including bank transfers (national banks) and digital assets. Deposits incur certain fees, while withdrawals from national banks are generally free. Deposit and withdrawal times may vary based on the chosen method.
Customer Support:
Investors can contact Esmond International Markets Pty Ltd through email to access their customer service. However, this brokerage does not support real-time chat functionality, which means investors may need to wait for responses and may not receive immediate assistance, potentially impacting the user experience.
Summary:
Esmond International Markets Pty Ltd raises concerns about potential fraudulent activity. Firstly, the brokerage has provided inaccurate information about its establishment year, with the actual establishment date being less than one month ago. Additionally, the company holds a weaker form of regulation through an Authorized Representative (AR) license from MGF CAPITAL PTY LTD. Secondly, and more critically, MGF CAPITAL PTY LTD has sold AR licenses to more than 20 similar entities, including Esmond International Markets Pty Ltd. These entities are not directly affiliated with MGF CAPITAL PTY LTD but are using AR licenses purchased from MGF CAPITAL PTY LTD for promotion. As of now, this brokerage is marked as having "Suspected Fraud" on TraderKnows. Users are advised to exercise caution when considering the services provided by this company, safeguard their financial assets, and avoid falling into potential fraudulent schemes.
