ecos.am has been flagged by AMF (France) for "Unauthorised". Category: Crypto-actifs This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: ecos.am.
ecos.am changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Good mobile app|No hidden fees|Portfolio tracking tools|Easy withdrawals
Cons: Withdrawal takes 1-2 business days|No live chat on mobile
My card was charged twice by ecos.am on the same day. I had to dispute it with my bank. ecos.am then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Dividend tracking|Economic calendar|Detailed reporting
Cons: Spreads widen during volatile periods|Could offer more webinars
The spread at ecos.am is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after reading several online reviews and initially thought the platform was good - until I started trading seriously.
Pros: Dedicated account manager|Reliable uptime
Cons: Research section could be deeper|No fractional shares
Do not believe the bonus offer from ecos.am. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited when my bank disappointed me and I searched for alternatives and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Risk management tools|Multi-device support
Cons: Could offer more webinars|No fractional shares
The platform at ecos.am is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for the past six months of dealing with this, I have had enough.
Pros: Full transparency|Market news feed
Cons: Minimum deposit could be lower|Onboarding videos are outdated
ecos.am has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Helpful community forum|Reliable uptime|Regular updates
Cons: Limited cryptocurrency options
ecos.am locked my account without warning and demanded documents I had already submitted. for roughly four months later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Real-time alerts|Educational resources|High security standards|Transparent fees
Cons: Live chat only during business hours
I closed a profitable position at ecos.am and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Personal attention|Fast execution|Market news feed
Cons: Onboarding videos are outdated
After for a couple of months now with ecos.am I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Personal attention|Wide product range
Cons: Limited social trading features
If you are reading this considering ecos.am - run. I wish I had read more negative reviews through a forum discussion. I thought the positive ones were real. Maybe some are. My experience over for nearly two years has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Easy withdrawals|Market news feed|Detailed reporting|API access
Cons: Live chat only during business hours|Could offer more webinars