About Elical Traders
Overview
Elical Traders is a financial services firm registered in the United States, according to public records, yet its listed registered address is in Limassol, Cyprus. The company was founded in March 2022. Our records indicate that the broker does not hold any regulatory licences from recognised authorities, which places it outside the mainstream of regulated forex or CFD brokers.
Given the absence of a website that can be independently verified, the available information on Elical Traders is limited to basic registration data. This lack of transparency is a significant consideration for any trader evaluating potential counterparty risk.
Regulation and Safety
No regulatory licences are listed on file for Elical Traders. Without oversight from bodies such as the CySEC, FCA, or ASIC, clients have no recourse to compensation schemes or formal dispute resolution mechanisms. The broker’s registered address in Cyprus, combined with a US incorporation, creates jurisdictional ambiguity that further complicates legal protection.
FXCanary’s in-house risk assessment assigns a Scam Risk Score of 49 out of 100, indicating a guarded level of concern. This rating reflects the lack of regulatory oversight and the limited public documentation about the broker’s operations.
Account Types
Elical Traders offers three account tiers: LITE, STANDARD, and UNLIMITED. Minimum deposit requirements are set at EUR 999.99 for LITE, EUR 2,999.99 for STANDARD, and EUR 9,999.99 for UNLIMITED. These thresholds are notably high compared to industry averages, particularly for an unregulated entity.
No leverage figures or specific instrument lists are provided in our records. The account names imply a tiered service structure, but precise details on spreads, commissions, or available asset classes remain unknown. Prospective clients should seek clarity on these points before committing funds.
Conclusion
Elical Traders presents a high-barrier entry for retail clients due to its large minimum deposits, yet offers no confirmed regulatory protection. The combination of a US claim of registration, a Cypriot mailing address, and no verifiable trading platform or instrument list creates a profile that requires extreme caution.
Without access to the broker’s official website or independent user reviews, traders cannot fully assess execution quality, deposit security, or withdrawal reliability. Due diligence is imperative, and FXCanary recommends considering only fully regulated alternatives for forex or CFD trading.
Overview compiled by FXCanary from regulatory records and public data. full Elical Traders review