Eronto Review: A Game-Changer or a SCAM?

Eronto-logo
Rating:
1.5

Today, our pen is focused on the broker Eronto. You may have even heard of it. It actually considers itself a game-changer. However, as always, we will check if these claims are unfounded. If you want to know if this project has signs of a scam, read our short review, prepared especially for you.

Eronto General Information

Website https://eronto.io/
Phone Number
  • +44 2045936659
  • +52 5588970705
  • +59 3963871152
  • +51 56655074
Email support@eronto.io
Address Trust company complex, Ajeltake road, Ajeltake island, MH96960
License
Minimum Deposit
Assets CFDs
Leverage
Trading Platform WebTrader

Registration and Client Portal Review

Eronto has created a very nice-looking official website. You will be greeted by beautiful drawings of cars and a picture of a successful trader, which are clearly chosen to impress users after their first visit. Unfortunately, everything is spoiled as soon as you pay attention to the content of the website. There is simply a minimum amount of content. Some sections are clearly unnecessary. However, those that are of interest to traders, for some reason, are not considered here. There is simply not enough information about the company. And, unfortunately, there is no data about who is leading this project. At least, there is some legal information. And by the way, the website is translated only into English and Spanish. In general, we would not say that it can be rated the highest. The broker should have tried harder.

Eronto - website

The Eronto registration process is very simple, even primitive. In fact, you only need to fill out a small form. You need to enter your contact information and create a password. Interestingly, Eronto does not even verify your email or phone number. This is a bad thing because it makes it easy for scammers to create fake accounts. Also, bots can be used to automate trades or spam other traders, considering social trading opportunities on this platform.

Eronto - registration

The Client Portal is a basic platform with limited features. It includes the essentials for account management, trading, and research, but it lacks more advanced features such as technical analysis, a wide range of tradable assets, and automated trading bots. The integration of the Client Portal with the trading terminal can be a disadvantage. It can be difficult to switch between the two platforms, customize the trading terminal, or use third-party trading tools.

Eronto - Client Portal

Eronto Trading Conditions

Of course, the company talks a lot about itself. However, we check everything in practice and now we will see how convenient it is to trade with Eronto.

Account Types Review

We were very disappointed with the broker’s lack of transparency regarding its trading conditions. Eronto did not provide any information about them, including the minimum deposit, spreads, and leverage.

The broker’s website only states that there is no demo account available. Traders must start with a real account. The account types are not specified, and there is no mention of any account features or benefits.

In addition, the broker’s website features a calculator that estimates how much money you could have made if you had started investing earlier. This is misleading, as ‌markets are unpredictable and there is no guarantee of any fixed returns.

We believe that it is important for brokers to be transparent about their trading conditions. Traders need to be able to make informed decisions about which broker to use, and they need to be able to understand the risks involved. The lack of information about Eronto’s trading conditions is a major red flag.

Trading Platform

Eronto’s trading platform is a disappointment. It is basic and lacks many of the features that traders would expect.

The platform is easy to use and intuitive, but it is limited in its capabilities. It does not offer a wide range of tradable assets, and it lacks advanced features such as technical analysis tools and automated trading bots.

Also, the company does not offer a mobile or desktop application. This is a major disadvantage for customers who want to trade on the go or who prefer to use a more traditional trading platform.

Eronto — Deposit and Withdrawal of Funds

The broker offers the ability to deposit funds using credit cards. However, this information is only available on the website. We were unable to verify this in the client portal, as we were required to complete verification before we could access the financial section. Deposits can be made in pounds, dollars, and euros. However, it does not specify any fees or minimum deposit amounts for withdrawals.

This lack of transparency is a major concern. Traders need to be able to understand the fees and charges associated with using a broker before they make a deposit. Eronto could improve its transparency by providing more information about its fees.

Verification

Eronto encourages users to undergo the verification process to enhance security and access additional features. It involves several stages.

  1. Inside your account dashboard, locate the verification section. Upload clear and valid identification documents, which may include a government-issued ID card, passport, or driver’s license.
  2. In some cases, Eronto may require proof of address. This can be accomplished by uploading utility bills, bank statements, or other documents that confirm your residential address.
  3. Depending on the platform’s requirements, you might need to provide financial information. This can include details about your income, source of funds, or employment information.
  4. After submitting the required documents, the verification team will review the information. This process may take some time, so be patient.

Additional Options

Eronto is heavily promoting social trading. It is a type of trading that allows users to connect with others and share ideas and strategies.

There you can find:

  • A leaderboard that tracks the performance of other traders.
  • A chat room where you can discuss the markets and share ideas.
  • A profile page where traders can share their strategies and track their performance.

Eronto’s social platform could be a valuable tool for clients who are looking to learn from other customers and improve their skills.

Is Eronto a Scam?

We have finally reached a point where we only need to check the broker’s legitimacy. So far, Eronto has not impressed us. Let’s delve into the last aspect and make a conclusion.

Eronto has provided a small amount of legal information about itself. In the footer, the brand name and even the registration address are indicated. It turns out that the company is registered in the Marshall Islands. This jurisdiction is not regulated by any major financial authority, which is a cause for concern.

Eronto Review: A Game-Changer or a SCAM?

The country has a reputation for being a tax haven, and it is not known for its strong financial regulations. As a result, brokers that are registered in the Marshall Islands are not subject to the same level of scrutiny as entities that are registered in other jurisdictions.

Thus, based on our research, we have concluded that Eronto is a questionable broker without any licenses.

Eronto.io Domain Info

Based on the legal information provided by the company, it was registered relatively recently, in 2023. In fact, the domain was created only in September 2023. This is a cause for concern. Without a substantial track record, it is challenging to evaluate the broker’s credibility. A short operating period may indicate financial instability or insufficient capitalization.

Eronto Review: A Game-Changer or a SCAM?

Contacts Review

The contact information provided by Eronto is generally satisfactory. Traders can contact support by phone or email. However, it is clear that Eronto does not have an office, and the address provided is likely a nominal address.

Pros and Cons

  • Offers a variety of trading instruments.
  • Social trading feature.
  • Registered in a jurisdiction that is not regulated by any major authority.
  • Has only been in operation for a short time.
  • Has been the subject of some negative reviews.
  • Does not have an office.
  • It is not transparent about its trading conditions.
2.6 TOTAL SCORE

Eronto Summary

Eronto Favicon

Eronto has positioned itself as an offshore broker with no distinctive trading conditions. The absence of clear information on minimum deposits and regulatory licenses raises concerns about transparency and client protection. In the realm of online trading, there are more reputable and transparent options available that provide a clearer regulatory framework.


Website information content 3
Client Portal 3
Trading conditions 2
Trading platform 4
Deposit and withdrawal 3
Verification 4
Extra options 4
Licenses and guarantees 2
Work duration 1
Feedback 0

Frequently Asked Questions (FAQ)

What Does Eronto Offer?

Eronto provides a platform for online trading, offering access to various financial instruments such as forex, CFDs, and cryptocurrencies.

How Much Money Should I Invest With Eronto?

The minimum investment amount with Eronto is not explicitly stated and may vary according to the trading conditions.

Is Eronto Safe?

Eronto operates as an offshore broker without a specific regulatory license. It’s important to note that trading with offshore brokers involves certain risks due to the lack of regulatory oversight.

Subhash Mishra
Forex & CFD Trader

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

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Client Reviews

  1. Robert William Peterson

    I've tried everything, but I can'tisn't get my money back.

    I lost 1700 dollars through the fault of Eronto. I tried to contact the company, but they refused to help me. I also tried to get legal help, but the case was unsuccessful. I am writing this review to warn others about the risks of trading with them. The company is unregulated, which means that there is a greater risk of fraud or other unethical practices. If you are thinking about trading here, I urge you to reconsider. It is not worth the risk of losing your money.

    Reply
  2. Kurt Green

    Do not invest money in Eronto, or you will lose your entire deposit.

    Unfortunately, no one told me this, and so I invested 500 euros with full confidence to start trading on the forex market. I thought that I would be able to make at least a couple of hundred euros a month, but the first withdrawal brought me down to earth.
    More precisely, not the withdrawal, but the impossibility of withdrawal. The funny thing is that the broker does not allow you to withdraw money. I don’t know why, but it’s simply impossible to withdraw. The application does not pass the verification.
    Their contact information is probably fake, so it is simply unrealistic to contact them. I want to warn people not to invest here, so that you do not fall for this fraudulent shop of crooks and scammers. I lost money, but I am writing reviews to help other people not to give them to scammers.

    Reply