Note: For some unknown reason, we cannot open EEN Markets official site (https://eenmarket.group) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.
General Information & Regulation
EEN Market is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with a variety of tradable financial instruments with leverage capped at 1:100 and high spreads from 3 pips on the web trader.
As for regulation, it has been verified that EEN Market does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.07/10. Please be aware of the risk.
Market Instruments
EEN Market advertises that it offers access to a wide range of trading instruments in financial markets, including forex currency pairs, indices, commodities and stocks.
Leverage
A leverage ratio of up to 1:100 is offered by EEN Market. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
The EUR/USD spread offered by EEN Market is as high as 3 pips, which is much higher than the industry average of 1 pip.
Trading Platform Available
The platform available for trading at EEN Market is a web trader. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
EEN Market mentions it takes credit cards and crypto assets as payment options. The minimum initial deposit requirement is said to be €250. There are withdrawal processing and handling fees that haven't been disclosed in the legal documents. Fees are known, but we don't know when and how they apply, so the broker can charge them whenever he wants. It takes between 4 to 7 days to process a withdrawal request.
Bonuses & Fees
EEN Market claims to offer some bonuses. However, the bonuses may only be withdrawn subject to execution of a minimum trading volume of 25 times the deposit amount plus the bonus issued. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
There is also a 30% inactivity fee charged after 61 days of account inactivity.
Customer Support
EEN Market‘s customer support can be reached by telephone: +442030974426, email: support@eenmarket.group. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
