Operating under the name EVEREST, EverestCM positions itself as a forex and CFD broker that provides access to forex, metals, oil, and indices on the MetaTrader 4 (MT4) platform. New traders may find its offerings appealing at first, but a closer look reveals plenty of warning signs that point to significant credibility problems. This EverestCM review examines the broker’s history, regulatory issues, and reasons for caution.
- EverestCM Website – https://everestcm.com/
- Is EverestCM Website Working – No
- EverestCM Address – Suite 602, 6th Floor, Hennessy Tower, Pope Hennessy Street, Port-Louis, Republic of Mauritius
- Is EverestCM Regulated – Unregulated
- Is EverestCM Blacklisted By Any Regulatory – Mauritius Financial Services Commission (Mauritius) and Comisión Nacional del Mercado de Valores (Spain)
- Is EverestCM Domain Blacklisted – It seems there is no direct mention of this domain being on a blacklist.
What is EverestCM?
EverestCM stated that it was a broker with a Mauritius registration that operated internationally. In addition to advertising a $100 minimum deposit, it provides trading services via the MT4 platform. These characteristics are common in the forex industry, but EverestCM’s regulatory status immediately raises questions.
Key Features Claimed by EverestCM:
- The minimum deposit needed to access the MT4 trading platform is $100.
- Forex, metals, oil, and indexes are among the available instruments.
- The alleged regulator is the Mauritius FSC.
Regulatory Warnings and Inconsistencies
The Mauritius Financial Services Commission (FSC), which claims to regulate the company, has categorically denied this. The Mauritius FSC formally warned EverestCM on February 28, 2023, making it clear that they do not have a license or oversight over the company.
Likewise, Spain’s financial regulator, the Comisión Nacional del Mercado de Valores, issued a public warning about EverestCM back on April 25. They identified this broker as carrying out activities without proper authorization, hence listing it among those that perform illegal investment activities.
Check CNMV Warning – https://www.cnmv.es/portal/ResultadoBusqueda?tipo=1&nombre=EVERESTCM.COM%2f
Key Regulatory Red Flags You Should Know:
- In February 2023, the Mauritius Financial Services Commission (FSC) issued a notice that EverestCM was not licensed or regulated by them, contrary to the broker’s claims.
- The CNMV in Spain warned its public about EverestCM in April 2022.
Website Accessibility Issues
EverestCM’s official website (https://my.everestcm.com/) is not working. This is a common warning sign when a broker has shut down or is trying to avoid regulatory scrutiny.
What This Means:
- Exit strategies or business closure
- No customer service and transparency
- Can’t access accounts or withdraw money
Frequently Asked Questions (FAQ)
Q. Is EverestCM regulated?
A. No, EverestCM isn’t regulated by any trusted authority. Both Spain’s CNMV and Mauritius’ FSC have blacklisted it.
Q. Can I still access EverestCM’s website?
A. No, their website (https://my.everestcm.com/) is down. That’s just another red flag if the company is operational or not.
Q. Which risks come with investing with EverestCM?
A. Some of the biggest risks are:
- No regulation, so your money is not protected.
- Poor or no customer support.
- You can’t withdraw your funds at all.
Victim of EverestCM Scam? Here’s How to Take Action Now
Withdrawal problems? Suspicious activity on a platform? LegalCertifi is here to help you. We will check out your case and start the process to recover your money. We understand what you’re going through, having been through it with unregulated brokers and fraudulent platforms. You’re not alone; contact us for a free consultation and start defending your financial interests.
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