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0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
/10

EssenceFX

Vanuatu Vanuatu | 5-10 years |
Questionable Regulatory License | Suspicious Operational Region | Vanuatu Forex Trading License (EP) Revoked | High Potential Risk

https://essencefx.com/

Website

Rating Index

Contact

+852 37072209
https://essencefx.com/

license Forex License

risk

No forex trading license found. Please be aware of the risks.

Warning: Low score, please stay away!
  • This broker lacks valid forex regulation. Please be aware of the risk!
3

Basic Information

Registered Region
Vanuatu
Operating Period
5-10 years
Company Name
Essence Markets Limited
Email
support@essencefx.com
Contact Number
+852 37072209
Company Website
Account Info
Relationship Map
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About Us
News
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Review summary

Basic Information & Regulators of EssenceFX

EssenceFX was founded in 2016 and is a Vanuatu registered online Forex and CFD broker currently regulated by the Vanuatu Financial Services Commission (Regulation No. 40309).

Safety Analysis of EssenceFX

EssenceFX is currently regulated offshore only by the Vanuatu Financial Services Commission. From our sources, traders only need to pay 24,000 Euros to become a member, which means that the regulatory effectiveness of the Vanuatu VFSC is not strong, and the safety of investors' funds cannot be protected. Additionally, the minimum deposit required for EssenceFX Elite and Premium accounts (see account types below) is too high and risky, so investors should stay away from the EssenceFX broker.

Market Instruments of EssenceFX

EssenceFX offers investors a wide range of trading assets. In addition to the popular Forex markets, investors can also trade commodities, precious metals, and indices through the EssenceFX platform.

Accounts & Leverage of EssenceFX

EssenceFX offers three different types of accounts to meet the investment needs and trading experience of different traders: Standard Accounts (minimum deposit of $100), Elite Accounts (minimum deposit of $10,000), and Premium Accounts (minimum deposit of $50,000). The maximum leverage available for EssenceFX Standard accounts is 1:500, for Elite accounts up to 1:200, and for Premium accounts up to 1:100.

Spreads & Commissions

EssenceFX platform does not provide detailed information on product spreads and trading commissions.

Trading Platform Available of EssenceFX

EssenceFX provides traders with the world's leading and widely acclaimed MT4 trading platform, which is ideal for trading the Forex market, commodities, precious metals, deposits, and index assets. MT4 can also help traders to develop appropriate trading strategies and to get ahead in the financial markets.

Deposit and Withdrawal of EssenceFX

EssenceFX welcomes traders to deposit and withdraw funds to and from their investment accounts through various convenient methods such as credit/debit cards, NETELLER, China UnionPay, wire transfers, etc. EssenceFX requires a minimum deposit of $100 and offers traders a deposit bonus of a certain amount.


Company Profile

  • 5-10 years
  • Questionable Regulatory License
  • Suspicious Operational Region
  • Vanuatu Forex Trading License (EP) Revoked
  • High Potential Risk

News

Is EssenceFX a scam or legit broker?

News Is EssenceFX a scam or legit broker?

No, it is not safe to trade with EssenceFX, because it is an offshore broker. The Company is wholly owned by Essence Markets Limited under registration number 40309, regulated by the Vanuatu Financial Services Commission, and incorporated in the Republic of Vanuatu.

Wiki Q&A

Is it risky to trade with EssenceFX?

Trading with EssenceFX is associated with a high level of risk and is not recommended. The entity, Essence Markets Limited, is an unregulated offshore broker registered in Vanuatu. It has no valid, active financial regulatory licenses; a previous VFSC license (No. 40309) is revoked, and its business scope is flagged as suspicious. The complete lack of credible oversight means trader funds lack standard protections and access to formal recourse mechanisms, a significant concern reflected in its low overall WikiFX score of 1.58.

04-02
United States

What is the license number of EssenceFX?

EssenceFX does not hold any current, valid financial regulatory licenses. Historical records show a previous license issued by the Vanuatu Financial Services Commission (VFSC) with the regulation number 40309. However, the status of this license is explicitly listed as 'Revoked'. Therefore, EssenceFX operates as an unregulated entity with no active licensing from recognized financial authorities.

04-02
United States

Where is EssenceFX registered?

EssenceFX is registered as Essence Markets Limited in Vanuatu. The broker has been operating for 5-10 years from this offshore jurisdiction, which is not known for stringent financial market oversight comparable to major regulatory hubs like the UK's FCA, Cyprus's CySEC, or Australia's ASIC. This offshore registration is a critical factor in its overall risk assessment.

04-02
United States

¿Cómo se calcula la puntuación de WikiFX?

La puntuación de WikiFX se calcula mediante un modelo multidimensional que incluye el índice regulatorio, el índice de licencias regulatorias, el índice de capacidad operativa, el índice de control de riesgos y el índice tecnológico de la plataforma. La escala oscila entre 0 y 10 puntos. Además, la puntuación se actualiza dinámicamente en función de cambios regulatorios, tratamiento de reclamaciones y rendimiento histórico.

In a week

What are the most common and reputable forex regulatory authorities?

Common forex regulatory authorities include the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC), the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in the United States, the Cyprus Securities and Exchange Commission (CySEC), and the Monetary Authority of Singapore (MAS). These regulatory authorities usually maintain relatively high regulatory standards, and brokers regulated by them generally have higher compliance levels. You can check broker ranking lists under different regulators on the WikiFX platform, such as brokers regulated by FCA, ASIC, and CySEC, so as to compare brokers under different regulatory backgrounds more clearly and make safer choices.

04-02
United States

Bagaimana cara menghitung skor WikiFX?

Skor WikiFX dihitung menggunakan model evaluasi multidimensi yang mencakup indeks regulasi, indeks lisensi regulasi, indeks kapasitas operasional, indeks manajemen risiko, serta indeks teknologi platform trading. Skala skor berkisar antara 0 hingga 10 poin dan diperbarui secara berkala berdasarkan perubahan regulasi dan data operasional terbaru.

In a week

Apa saja yang perlu diperhatikan saat memilih broker yang aman?

Saat memilih broker yang aman, investor perlu memperhatikan status regulasi, keamanan dana, dan transparansi kondisi trading. Disarankan memilih broker yang diawasi oleh regulator utama seperti FCA, SEC, atau ASIC. Selain itu, penting juga memastikan apakah dana klien disimpan secara terpisah, struktur biaya transparan, dan apakah terdapat catatan masalah penarikan dana atau keluhan pengguna. Skor WikiFX dan ulasan pengguna dapat menjadi referensi tambahan.

In a week

¿Cómo comparar diferentes brókers de forma eficaz?

Para comparar diferentes brókers, los inversores pueden evaluar factores como la situación regulatoria, la puntuación integral, el entorno de trading, las condiciones de cuenta y los comentarios de usuarios. Se recomienda priorizar la verificación del estado regulatorio y las licencias, seguida del análisis de la puntuación WikiFX y sus distintos índices. La herramienta de comparación multidimensional de WikiFX permite realizar evaluaciones más estructuradas y eficientes.

In a week
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※ WikiFX compiles data from publicly available sources and user contributions. While we endeavor to maintain its accuracy, we do not warrant the information's completeness, accuracy, or timeliness, as it may become outdated. Investors are strongly advised to verify critical details with official sources before making any decisions.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qa@wikifx.com
Cooperation:business@wikifx.com