• Eftrades

Overview

Eftrades.com has a rating of 1.9 stars from 33 reviews, indicating that most customers are generally dissatisfied with their purchases. Eftrades.com ranks 369th among Currency Trading sites.

  • Service
    18
  • Value
    18
  • Quality
    18
Positive reviews (last 12 months): 0%
Positive
0
Neutral
0
Negative
4
See all photos
How would you rate Eftrades?
Top Positive Review

“It's possible to make a good profit here”

Eridana V.
6/1/22

I've been trading forex & stocks for the past few years and have had some great success. I started out with a small investment and within a year, I had over tripled it. I'm not saying that these kinds of gains are easy to come by, but if you do your research and choose wisely, then you can make a good profit with EFtrades.

Top Critical Review

“Scam! Absolute Scam!”

R S.
12/20/22

I invested $250 USD then I lost $73 my balance shows as $177. All of a sudden it shows $10,500 credit amount and they are saying the auto trade made profit for me. They said if I want to get redemption, I have to pay income tax and they can't use it using the find I have pn my investment account. I have to make another $1,300 USD to get the redemption. Scam! They have blocked me so I can not get logged in. Absolute Scam!

Reviews (33)

Rating

Timeframe

Other

Thumbnail of user rs785
1 review
5 helpful votes
December 20th, 2022

I invested $250 USD then I lost $73 my balance shows as $177. All of a sudden it shows $10,500 credit amount and they are saying the auto trade made profit for me. They said if I want to get redemption, I have to pay income tax and they can't use it using the find I have pn my investment account. I have to make another $1,300 USD to get the redemption. Scam! They have blocked me so I can not get logged in. Absolute Scam!

Tip for consumers:
Do not invest any ! It’s a scam !

Products used:
Online platform investment package

Service
Value
Quality
Thumbnail of user robertb7679
1 review
7 helpful votes
December 16th, 2022

They will tell you where to invest and the amount. Then you will see profits but they will push you to invest more. They will call you everyday with great well so they say opportunities. When you stop taking their calls which by the way is always a different phone number/location watch for that. They will deny access to the site. Then you have to speak to your account manager telling you cannot access your account to see all your profit and investments now negative. Afterwards your simply blocked.

Tip for consumers:
Don't get fooled it is a scam.

Products used:
Trading

Service
Value
Quality
Thumbnail of user morgand193
1 review
0 helpful votes
September 2nd, 2022

The way verification of identity and documents being done shows that they really ensure security of the trader information and I believe this is the most strict and secure ID verification by a broker. This is good because it means this broker is reliable and trustworthy. So I am putting all my trust on them for now. Yet to make make my first withdrawal so I can't give five stars

Thumbnail of user nicholasc866
1 review
7 helpful votes
November 21st, 2022

I think they choose the value of the stocks you buy and at first you win and they try to get more deposits from you so you can make more profit. When you smarten up and don't send any more money your stocks all become losers and don't even try to make a withdrawal, you'll never get it. I made 78,000 one day and they claimed a problem with the program but I could keep it if I deposited 40,000 usd more. What company would do that? A scam company, that's what.

Thumbnail of user aidenm59
1 review
2 helpful votes
June 1st, 2022

Really impressive service & super easy onboarding process! The fees are reasonable, but I always want to have from zero to no fees. Anyways, I would recommend this trading platform to anyone looking for a safe place to trade their coins.

Thumbnail of user diamondg25
1 review
5 helpful votes
March 8th, 2023

They are fraudulent traders and ready to clean you off your hard-earned money, and they won't stop asking for more deposit to free your already invested capital and profits. It was a terrible experience but with the right evidence and a reliable expert like Renanmelo3800 (outlook) com, i got total refund of money in just few weeks of working with him. Please don't lose seek help...

Tip for consumers:
Don't deal with them, get help

Service
Value
Quality
Thumbnail of user grahams229
1 review
5 helpful votes
February 8th, 2023

Hi All,

Unfortunately i have also been scammed by these scumbags, i now get a mail and call from Tom Jansen telling me i have R800K but must pay R60k in taxes to withdraw this money. I checked my account and guess what i am blocked because my trades all lost.

They are a bunch of blood suckers and we need to do something to bring them down before more people get suckered into loosing their hard earned retirement funds.

My biggest issue is that i sensed a scam but still got drawn in. I am angry with myself for falling for Benjamin Rogers smooth talking whilst i was making large profits. I knew about stop losses but he told m i was doing well and that they dont play stop losses. Whay a fool i was

People out there we need to unite and take these bastards DOWN.

Thumbnail of user ashleye657
1 review
0 helpful votes
March 19th, 2024

I can finally say the battle is over.i was scammed by these people 2 years ago of my hard earned. At first, they made me do little deposit of over $5,000 and paid another $45,000 when I wanted to withdraw I was asked to pay another 10%. That was when all my troubles started but I'm
Glad Wor/CoN/SUltd helped fight this battle

Tip for consumers:
⚠️: Please avoid this company

Thumbnail of user benoitb24
1 review
6 helpful votes
January 3rd, 2024
• Updated review

This is a pig scamming operation. This company is not registered in any country. I got sucked into this because I got a response from an online social media advertisement youtube or meta. They promised me big money if I invested with them. They called every day and got me to buy bitcoin through Binance *******@orderdeposit.com, Gigadat INC(Bitfy)

Tip for consumers:
Hopefully people will stay clear of these scam artists

Service
Value
Quality
Eftrades is a scam
November 18th, 2022
• Previous review

I lost 50k USD using Eftrades
There are a bunch of problems with this site
Who is the owner? Where are they located?
They put pressure on you to send money
They get you to purchase bitcoin to fund your account
The financial advisor did not ensure that you used stop loss on your trades

Tip for consumers:
I would recommend that a person do their research first before investing any money with this company

Service
Value
Quality
Thumbnail of user eridanav
2 reviews
20 helpful votes
June 1st, 2022

I've been trading forex & stocks for the past few years and have had some great success. I started out with a small investment and within a year, I had over tripled it. I'm not saying that these kinds of gains are easy to come by, but if you do your research and choose wisely, then you can make a good profit with EFtrades.

Thumbnail of user bobbyw268
1 review
0 helpful votes
May 10th, 2023

I've been trading with this forex broker for several months now and have been consistently impressed with their services. Their trading platform is easy to use and has all the necessary features, and their educational resources are comprehensive and helpful. Overall, a great experience

Service
Value
Quality
Thumbnail of user nicg24
1 review
9 helpful votes
December 20th, 2022
• Updated review

This is my third update. I have for 9 days now been trying to get my 29,000 back from EFTRADES and despite assurances from Benjamin Rogers, my account still open and no sign of the return of my money. They are fast talkers and bordering now on dishonest we are doing some research to commence a class action against their processes. At this stage DO NOT THINK OF TRADING with them...I will keep you updated

UNPROFESSIONAL
December 10th, 2022
• Previous review

This is an update. After three emails requesting closure of my account and payment of the funds back into my account I have had no written acknowledgment whatsoever. I have had two phone calls from two VERY pushy gents who tried to get me to keep my account open. The lastgent blamed the banking system in South Africa for the slowness of the payment BUT the account remains open with the funds reflecting and status as payment pending for 6 days...watch this space next week as to whether payment made.

Tip for consumers:
OK after a rocky and un-professional lack of communication and then senseless communication saying I would not be paid for 45 days, guess what, I was paid overnight last night and all R27,500 was paid. They kept R1450.00 in my account, not sure why. So my experience was rocky but all but a small amount was paid into my account. Sadly I would never put a large amount of money in again, but leave to you whether or not to use them. I did get all but a few rands back.

Products used:
Trading platform

Service
Value
Quality
Thumbnail of user kimmym20
1 review
0 helpful votes
November 15th, 2023

I can't even begin to describe the anguish I went through in dealings with them, as they seized my money and insisted that I transfer more. I lost nearly everything till i was directed by a legal adviser and
I felt the happiness I had long since lost when t.o.n.e ltd assisted me and helped me get my money back.

Thumbnail of user tarad306
1 review
3 helpful votes
December 21st, 2022

I invested a large amount of money and started making a profit, now when i want to withdraw my profit, they have closed all my position and all my money is gone out of the account. I am trying to get hold of Leo Goldman who was helping me, and now i cannot get hold of him, i have asked him to call me but he is now ignoring my mail... please help...i need my money

Tip for consumers:
Please don't use Eftrades as you lose all your money

Products used:
Eftrades...currency trading

Service
Value
Quality
Thumbnail of user davidb9890
1 review
0 helpful votes
April 3rd, 2023

Eftrades broker trading tools and resources are unparalleled, and I've learned so much from their educational materials

Service
Value
Quality
Thumbnail of user yanikl1
1 review
4 helpful votes
November 10th, 2022

Those guys are absolute crook guys. They dont respect thir words they speak fast and promisse you heaven and when its time to redraw you will have hell of a time to pull back your investment. Scam

Service
Value
Quality
Thumbnail of user giovand
1 review
8 helpful votes
June 29th, 2022

They will teach you everything u should know about trading and make you invest or infure money on trading platform fir a while. When they have their chance and see that ur already having a profit they will automatically shut your account down and take all your profit instantly ang you can never open it again. Taking all your money.

Thumbnail of user valeriet321
1 review
9 helpful votes
August 3rd, 2022

Big fraud. They took my money 329.17$, told me the market was bad so that I lost my money (therefore could not refund me) and then asked me for more money! Real fraud! Will not do that again!

Thumbnail of user rickyg148
1 review
14 helpful votes
September 22nd, 2022

Saw a Facebook ad which said, can help buy crypto, but when I signed up, they assigned an Account manager, Tom, who coaxed me into Forex instead. Reluctantly, i agreed to use the initial deposit required $250 to Trade Forex. He made me open Trades which resulted in me getting into Negative balance. Despite my objection he Forced me into making more trades despite initial losses. He said Eventually All the Negative trades would be profitable and I need to be patient and Not take profits from one of the trades.
One day when i checked my account, EFTrades has taken all my money and deleted all the trades that was done. When questioned, Tom had no answers, and even Refused to Refund the measly $21 left in my account after they stole the balance from my initial deposit of $250
Keep away! From this fraudulent company, save your money.

Tip for consumers:
Keep away, Do not sign up with them, fraudsters

Products used:
Forex trading platform

Service
Value
Quality
Thumbnail of user franceskal
1 review
1 helpful vote
January 31st, 2023

Hey there, I had a very bad experience with this company called EF trades. I tried to get back the money I invested (I didn't invest a lot cause I wasn't sure about them, thanks god) and looks like I will never see that money again. I got very busy at work and wasn't in my account for a month, they blocked my account and I was denied access to it.

After reaching out to them, the guy said my account will be active again in a day. Nope, instead I got a call from someone else saying I have now $25,500 US dollars in my account and that I should get it out. In order to get it out, I have to pay them an amount of about $3,000 in taxes to received the $25,000. Lol $#*!, you think I'm that stupid? I asked simply I just want to get back into my account and start trading again, he told me I have to pay fees to be able to access my account! What a $#*!ing scam this company is, that's how they make the money.

I asked the guy, how the $#*! did I make $25,500 when I wasn't even in my account in a month? I have an email from them to prove it, they're just $#*!ing $#*!s that will $#*! with you.

Mini
Canada

Thumbnail of user kristinan93
1 review
2 helpful votes
January 9th, 2023

Never believe them when they say you need to pay this amount so we can send you your profit from CFD, I was foolish to believe and paid $5312 cad as payment for tax and converting BTC to cad, after paying that, my profit was not sent and they need another 4000cad. This is a very big lesson for me.
They used bitcoin4u, gigadat, bitnomics and etransfer. Don't get fooled/scammed.

Tip for consumers:
Do not trust eftrades, I spoke with Tom Jensen, Dominic Green, and Jacob. They never do what they have promised

Products used:
Lost $5312cad

Service
Value
Quality
Thumbnail of user zibutej1
4 reviews
4 helpful votes
February 2nd, 2023

Well i had an account and in the beginning my account was doing poorly - but in the new year once i was more familiar and market was going up -- i made 10X the amount of money i invested.

Once i mentioned that i wanted to withdraw 10% of the funds is when something did not sit right. The broker immediately convinced me to make more trades -- all of which went into the negative for hundreds of thousands. If you added up my profits and took away the negative trades - i would be owing the company at least $200K.

They wanted me to withdraw all the funds because they said it was profit (do i look stupid?) and they cannot just give you partial - you withdraw all of it then you can put it back for more trading.

#1 they told me i have to pay swiss taxes to unlock my account of $63K
#2 They would not let me take out 10% and pay taxes on the 10% (all or nothing)
#3 They could not provide a legitimate proof of corporate registration in Switzerland (anyone can say they operate from anywhere)
#4 Tom Jensen was the Finance person i talked to - at one point was dealing with Dominic (both of these people written up in other negative reviews)
#5 When i told him i did not have the tax funds - for him to take it out of my account. He said my account was locked and he could not do that
#6 Then he suggested i borrow from family and friends to get back my $500K of profits -- when the trades were in the negative for $750K (did not make sense)
#7 i could not find anything online that indicated ANYONE was able to withdraw funds from EFTrades
#8 Swiss tax site says that NO TAXES are required for individual traders

I know that if i pay the supposed taxes - i will never see my funds and they will close the account.

What i don't understand is that apparently this is a legit broker -- but maybe inside this legit brokerage there are scammers. If a company cannot provide proof of registration -- do not let you speak to any management - tell you that the lawyers speak to govt - then tell you that you cannot talk to lawyers...there is something fishy!

If anyone has been successful in retrieving their funds - let me know

Tip for consumers:
STAY AWAY - not sure reaching the real EFTrades

Service
Value
Quality
Thumbnail of user vickersonm
4 reviews
1 helpful vote
May 9th, 2024

I fell into their trap after i followed a facebook ads with hope of making extra money with my savings, These company lure people in with fasle promises they will show you profit right from the initial deposit tricking you to deposit more money and you think you are doing well. Very quick and easy deposit to buy crypto but when its withdrawal there is always troubles due to maintenance or another stupid reasons. They requested fees to free my coin but after payment i was ignored again. Fortunately for me i came across the right team and with their support my case was resolved. It was a great joy for me when i got my money back from eftrades, it was a very straightforward process and i am willing to share more information about the procedure. My email is on my profile reach out to me and i can guide you in any way i can.

Service
Value
Quality
Thumbnail of user garrenw2
1 review
0 helpful votes
May 15th, 2023

I have never seen a forex broker platform with such credibility. This company is transparent and trustworthy, and I feel confident trading with them.

Service
Value
Quality
Thumbnail of user ce171
1 review
2 helpful votes
January 1st, 2023

Eftrades is a scam I invested and lost a bunch and when I decided to cash out they would not pay me out. Still have not andbit was end of December 2022.

Service
Value
Quality

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