Econam

I signed up with Econam after comparing multiple platforms and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.

I had a dispute with Econam and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.

I trusted Econam with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.

The mobile app from Econam is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.

Do not be fooled by the professional-looking website. Behind the scenes, Econam is disorganized and incompetent. I found them through word of mouth in my investment club and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.

I found Econam from a review site like this one and the initial impression was positive. But since last summer later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.

Tried to withdraw my funds from Econam and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.

The reporting at Econam is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.

After seeing ads for Econam online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Finansinspektionen. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.

KYC with Econam is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.