Ethereal Elites has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Market...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Ethereal Elites 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: Cannot withdraw funds|Not regulated|Pressure tactics
The hidden fees at Ethereal Elites are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Responsive team|Segregated accounts|Quick verification
Cons: No dark mode on mobile|Website design could be more modern
The spread at Ethereal Elites is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after doing extensive research and initially thought the platform was good - until I started trading seriously.
Pros: Educational resources|Fast support response
Cons: Research section could be deeper
What really bothers me about Ethereal Elites is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them through a financial advisor and I fell for the polished exterior. Never again.
Pros: Fast support response|Automated trading options|Transparent fees|Professional team
Cons: Nothing significant
Tried to withdraw my funds from Ethereal Elites 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.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive
Do not use Ethereal Elites for anything serious. I used them for the past year and a half for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Smooth onboarding|Economic calendar|Intuitive for beginners
Cons: Cannot customize dashboard fully
I had a dispute with Ethereal Elites 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.
Pros: Fast support response|Personal attention|Professional team
Cons: Spreads widen during volatile periods
For anyone considering Ethereal Elites, please be aware that this company has been flagged by Financial Markets Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
I was about to invest with Ethereal Elites but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Flagged by Financial Markets Authority|Cannot verify credentials