Ebhforex.com Review: Is EBH Forex Scam broker?
EBH Forex aka European Brokerage House is running a brokerage service on the website address Ebhforex.com.
This review will address why we can’t add them to our list of trusted brokers or at least recommend them.
Ebhforex.com promises to give traders a number of attractive benefits and features which include the following:
1.Exceptional customer service.
2.MT4 and MT5 trading platforms.
3. Competitive trading conditions where spreads start at 0.1 pips.
4. Pre-installed Forex EAs
5. A wide range of markets covering Forex, Indices, Commodities and Crypto CFDs.
6. Web and Mobile Trading.
7. A demo account
8. VPS (to qualifying clients)
The broker is operating from Bulgaria and claiming to be regulated by the EU.
The company provides a simple and straight-forward website for navigation.
And they also claim to be fully transparent and competent when it comes to customer support.
Is EBH Forex legit or a scam?
EBH Forex (European Brokerage House) review
We start this review with features of their account type as they only have one account for their clients.
This account type requires a minimum deposit of $100.
In addition to this, the account type page provides a list of features to address questions that traders might be interested in.
They are listed as follows:
- Tight spreads starting 0 pips.
- Execution is NDD and Market respectively.
- 38 tradeable pairs including spot metals like Gold and Silver.
- Commission of $3.5 per notional amount of 100k
Traders can choose whether they want to open this account on an MT4 or MT5 server.
Both trading platforms are preferred because of their excellent charting capabilities, ease of EA and indicator integration, clear user interface and so on.
However, this is not the only factor to consider when choosing a broker.
In fact, this does not automatically give EBH Forex the green pass to our recommended Forex brokers page.
EBHForex is regulated by the FSC in Bulgaria.
Their website is also purporting to comply with the requirements of the EU and European Economic Area (ESMA Regulations).
European Brokerage House customer support
Their website contains a strategically placed live chat button which means their clients are encouraged to engage the broker through chat.
In addition to this, they provide email and social media pages where traders can reach them directly.
The impression of EBH Forex website is that they are serious about their work and serving their clients.
However, looks can sometimes be deceiving and unless you spend some significant time on their live account, it’s not possible to know customer response time frames and the commitment they have to their customers.
Level of transparency
EBHForex has tried to look as transparent as possible on their website.
Apart from the usual features that brokers will list on their website, EBH Forex has also provided a list of the prices they charge for roll-overs.
For starters, roll over is basically a swap fee which the broker charges when you hold your trades overnight.
Different brokers have different swap rates and if this information is published on their website in advance, it can help with decision making.
In addition to this, EBH Forex provides a special email where customers can submit feedback or reviews.
It’s not clear whether these reviews or feedback are published for the world to see or addressed internally and then deleted from their end.
EBHForex deposit and withdrawals
The broker supports Visa, MasterCards, PaysafeCard, Rapid Transfer and eWallet solutions such as Skrill and Neteller.
According to their website, EBH Forex does process withdrawals within 24 hours.
Others like the ones we recommend here can process withdrawals in record 2 hours.
Do we recommend trading with this broker?
First of all, they are not as popular as we had anticipated.
Their Alexa ranking shows that the site is ranked 6 million which means they receive about 100 visitors everyday.
This is not a good start especially for a broker who has been actively in the business since 2018.
Also, I did not find any real world reviews or feedback from customers.
I wonder why this is the case. Usually, traders only feel comfortable if they are using a broker that everyone else is using.
This is quite a setback and one of the reasons why we could hesitate recommending them until there is enough online feedback.
European Brokerage House appears to be a professional EU regulated Forex brokers.
Why there are no reviews to back their service is the big question.
I also wonder why they are not popular despite the website having embarked on this business in 2018.
Currently we are seated on the fence and any trader who will go this direction will be acting purely on blind faith.
Thanks for reading.