EIG aka Elita Invest Global Ltd is claiming to be a professional service provider of Foreign exchange services.
In other words, they are offering brokerages services to clients who want to trade Forex, Metals and CFDs.
Elita Invest Global ltd is the company behind EIG whose website can be accessed through eig-fx168.com.
This domain is very weird and even typing it on the browser is a bit cumbersome.
EIG or Elita Invest Global Ltd registered it on April 2020. So this broker is very new to this marketplace.
Apart from this, the broker is not telling us who they are, where they’re operating from and whether or not they are regulated.
In addition to this, they’ve not provided details of their account types.
It seems EIG broker only has one account standard account type for all clients.
Regardless of the case, we expected the broker to publish their trading conditions and let us know what the minimum deposit for opening an account is.
EIG website has only published general information about their service.
Spreads are fixed for metal assets and floating for Forex pairs.
They claim that a pair like EURUSD attracts a spread of 1.9 pips.
We have found that it is still very expensive to trade Forex with eig-fx168.com since professional broker are charging 1.3 pips and below for a volatile pair like EURUSD.
Is Elita Invest Global Ltd or EIG a legit broker?
The first thing we noticed with this broker’s website is that they are not transparent.
They’ve provided the same contact emails for all their “departments” which does not help with establishing who the owners are.
Furthermore, we have always discouraged traders against opening accounts with unregulated brokers.
Eig-fx168.com does not have a Forex broker’s license, yet they continue to solicit funds from traders from across the globe.
It is dangerous to trade with such brokers because they tend to scam traders or even refuse to process their withdrawal transactions.
Such a broker is not to be trusted no matter how attractive their products and services are.
Elita Invest Global Ltd is therefore a big risk to traders out there.
EIG will most likely run away with your money because the site has a lot of red flags to consider.
You cannot trust them because the website is not safe and neither are they professional.
Also, if you would like to invest in the currency market, we urge you to rely on professional tools and services that have a proven track record.