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There’s a warning from the German regulator BaFIN relating to EUSchild. Find out the reasons why you should avoid euschild.de.
EUSchild (euschild.de) is a German crypto and forex scam investment platform. The German regulator, BaFIN, has issued a warning regarding the use of EUS Child. Those signing up will end up ruing the decision. There have been complaints sent to regulators regarding this platform. Most of the complaints center on unfair trading conditions and withdrawal delays. For the past few weeks, no one has made any withdrawals. Here’s what we found out in our exclusive EUSCHILD REVIEW.
A Brief Analysis of EUSchild
Data on the platform’s background and history is unavailable. And this is the first red flag with EUSchild. A trading platform ought to share its background and history. You need to know their goals and missions beforehand.
The platform also has poor navigation since the website is not what you would expect. With information scattered all over the website, there’s no way of finding the right info. It seems the platform only wants users to sign up and fund accounts.
When it comes to account information, the platform offers no information. You have to sign up first to learn about account features. Other security issues that we found include identity issues. Your identity is at risk with the platform.
When registering an account, the platform asks for crucial documents. These include bank statements, a copy of your ID, and credit card details. We don’t see why such a platform would need these documents.
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Before deciding which platform to use, you need to do due diligence. Go for platforms that generate positive feedback from users. Avoid any platform with withdrawal complaints and anonymous information about the owners.
EUSchild fails to give information on the available account types. As earlier put, the platform designates an account depending on the client. We also suspect the platform offers accounts depending on the amount you deposit.
If you’re a newbie, the platform will ask for more funds. The excuse you will get is that a high deposit means earning higher profit margins. And this is why most newbies end up depositing large amounts.
The false information leads newbies to lose all their deposits at once. When you make your deposit, the platform will immediately block access to withdrawal. Emailing the platform is of no use as there’s no response forthcoming.
We also have a problem with the over-the-moon leverage set by the platform. There’s minimum leverage of 1:500 and a maximum of 1:1000. Not unless you’re an experienced trader, this is not for you.
There’s no information on the account features anywhere on the homepage. You have to deposit funds first to know the features. And that’s when you notice the unfair trading conditions available on the platform.
With high leverage, the platform profits from your losses. And since any trade is bound to make losses, newbies make them the most. And this is why regulators had to step in and protect investors from high leverage.
For instance, in the United States, leverage for retail traders is set at 1:50. In other jurisdictions, the leverage is 1:100. It’s to ensure there are fair trading conditions for all parties. So we can see EUS Child is not for it.
Available Web Trader
Another serious issue to note with the platform is their web trader. The platform is unstable and doesn’t offer any advanced tools. We highly recommend using proven trading platforms such as MT4, MT5, and SIRIX.
Without advanced tools, you are at a disadvantage. The interface is far from innovative, with no real-time depth charts. Furthermore, we found that the charting tools are far from easy to use. Sadly, you can’t integrate any other platform with euschild.de.
Information on who owns and runs EUS Child is not available. You can see that the platform’s owners want to hide from liability. None of the founders wants their name out there. And it’s with good reason.
The platform is a complete hoax targeting naïve German investors. It would be best to avoid it as it’s an anonymous platform. Instead, we have an attempt to fool investors into depositing funds and failing to trade.
We have seen this type of trading platform before. It doesn’t end well for investors as there’s no way of tracking the founders. Hiring recovery agents won’t do you any good. These agents lack the mandate to freeze accounts belonging to the platform’s owners.
Hundreds have lost funds with the platform. Most have turned to social media platforms to vent their anger. We can only feel sorry for them. Tom lost €5,000 with the platform. There’s no word from the platform as to why he can’t withdraw funds.
Immediately after making the deposit, he received an email with the platform acknowledging receipt. However, the balance would reflect on his trading account the following day. Then from there, he couldn’t access his account.
That’s the story most of the members share on social platforms. None of them has been able to withdraw funds for the past few weeks. And this clearly shows that the platform is a crypto and forex exit scam.
Contact and Client Support
There’s no direct way of making contact with support. The phone number rarely goes through and, when it does, you get an answering machine. You won’t get any email response from the platform.
And this goes to show that the owners want to control the communication process. It makes it easier for them to reach you and not vice versa. And this is the reason why we have to expose the platform.
Deposit and Withdrawal
There are several depository methods members use to fund accounts. These include bank and wire transfers. Unfortunately, you get a platform that fails to offer crypto deposit options which are now available on genuine trading platforms.
Withdrawing funds with EUS Child is the number one hurdle for members. But, unfortunately, no one manages to reach this state. And this is probably because the platform is a fraud. The intention is to take away as much funds from clients as possible.
EUSchild License and Registration
EUSchild is facing a warning from BaFIN, the German official regulator. With such a warning, investors should distance themselves from the platform. And this is why we must share the pain and expose the platform.
Go for platforms that have a license from credible bodies. These include ASIC, CFTC, CNMV, CONSOB, CySEC, and the FCA. Other reliable regulators include FINMA, NFA, and the SEC. These regulators ensure all parties adhere to strict regulatory rules.
The platform fails to disclose its regulatory status with investors. You should try and check whether a platform has a valid license. Try and match the details with the regulator’s licensed list. It will prove whether a platform is legit or not.
Fund Safety and Security with EUSchild
Your funds are far from safe with a platform that fails to segregate accounts. Instead, the platform uses one bank account to store funds. And this is the reason why the platform is such a scare for investors.
Please stay away from euschild.de as it fails to allow members to withdraw funds.
The best option is to use credible crypto trading bots to help accuracy. Go for proven bots that help generate real ROI.
If you have any questions, feel free to leave a comment or email us.