Introduction
What was once pitched as a groundbreaking provider of AI-based trading products and forex education has now fallen into deep controversy. Eaconomy employed a very aggressive MLM framework, and it was quickly scrutinised by regulators and caught the attention of many online communities. This review will discuss the serious issues with Eaconomy, and why it is increasingly hitting people’s radar as a scam.
Website – https://eaconomy.best/
Website Working – NO
Address – (i) Aldgate Tower, 2 Leman St, Whitechapel, London, E18FA
(ii) 1980 Festival Plaza Drive Summerlin South, #300, Las Vegas, Nevada, UNITED STATES OF AMERICA, 89135
Regulated – No
Blacklisted By Any Regulatory – Financial Conduct Authority (UK) and New Zealand’s Financial Markets Authority (FMA)
Domain Blacklisted – It seems there is no direct mention of this domain being on a blacklist.
1. No Regulatory Oversight
Eaconomy is not registered with an actual financial authority. The Financial Conduct Authority (FCA) in the UK and the Financial Markets Authority (FMA) in New Zealand both have released warnings noting that Eaconomy is operating unregulated. This lack of regulation makes our investors uncomfortable.
2. Pyramid-type business model
Eaconomy encourages users to sign up users as builders and encourages recruiting over any sort of trading performance. The multi-level commission structure has several characteristics of pyramid / Ponzi scheme. Members must recruit people to earn commission, and the commission structure compensates members greater for recruiting users rather than the trading performance of the member, which is a bad sign from a business model perspective or sustainability point of view.
3. Poor Transparency, Poor Feedback
Eaconomy masks ownership with WHOIS privacy, and users have reported owners making fake profit claims, unable to make withdrawals, and poor customer service. The company also operates multiple domains and does not have verifiable trade history. It’s very hard to research company and ownership since there is no apparent corporate history.
Eaconomy Review Summary
Based on user reviews, legal warnings, and the structure of the platform, Eaconomy seems to be highly untrustworthy. Generally, we recommend that you avoid this broker entirely. From false promises to being unregulated, there are myriad reasons to avoid this broker.
FAQs
Q1: Is Eaconomy regulated?
No. Eaconomy is not regulated by any major financial regulator including the FCA and MFM.
Q2: Is Eaconomy a pyramid scheme?
It has a heavily weighted recruitment mml structure that closely resembles a pyramid scheme.
Q3: Can I get my money back from Eaconomy?
Maybe through chargebacks or legal actions. Seek the assistance of a fraud recovery specialist.
Victim of Eaconomy Scam? Here’s How to Take Action Now
If you’ve had trouble withdrawing your money or noticed anything suspicious with your account, you’re not the only one. Many traders have faced the same problems. It’s important to act quickly. If you’ve lost money to a trading platform, LegalCertifi can help. Our experienced team will look into your case and guide you on how to try to get your money back. Reach out to us for a free consultation and share your case safely and privately.
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