Elonzdex has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Elonzdex advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Social trading features|Segregated accounts|Excellent charting
Cons: Website design could be more modern|Withdrawal takes 1-2 business days
KYC with Elonzdex 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.
Pros: Smooth onboarding|Good analytical tools
Cons: Limited demo account features
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Elonzdex is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
I invested $500 with Elonzdex after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Financial Markets Authority.
Pros: Professional looking website
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
I referred a friend to Elonzdex after a family member had a good experience. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Low minimum deposit|Multi-device support|Social trading features|Clean UI
Cons: Search feature is basic
Where do I even begin with Elonzdex? for about ten months of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Detailed reporting|Competitive fees|Responsive team
Cons: Research section could be deeper|Charting tools need more indicators
The so-called education at Elonzdex is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for roughly four months thinking they would help me learn.
Pros: Intuitive for beginners|Risk management tools|Multi-currency support
Cons: Cannot customize dashboard fully|Minimum deposit could be lower
I looked into Elonzdex and found they appear in the regulatory warnings database. Financial Markets Authority has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Flagged by international regulators|Due diligence required
Several red flags with Elonzdex: (1) They promise unrealistically high returns, (2) They're not registered with Financial Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Unauthorized firm|Found in IOSCO warnings database