About eTRADINGACCOUNT
Company Background
eTRADINGACCOUNT is a retail forex and CFD broker registered in Montenegro, with a registered address at JUL. Ptimorski Batajon BR. 3 Budva, Montenegro. It was founded on 20 November 2020. The broker operates through its website etradingaccount.com, which presents a modern trading platform aimed at retail traders seeking access to multiple asset classes.
The broker's registration in Montenegro situates it outside major financial hubs, and according to FXCanary's records, it holds no recognised regulatory licences. This lack of oversight is a critical consideration for traders, as it means the broker is not subject to the investor protection measures typically required by regulated entities.
Regulatory Status
FXCanary's review confirms that eTRADINGACCOUNT has no active regulators on file. The broker's website claims to be 'Globally Licensed & Regulated', but no specific licence numbers or regulatory bodies are disclosed on the homepage. This discrepancy between marketing claims and verifiable facts is a red flag.
Without a reputable regulator such as the FCA, CySEC, or ASIC, clients have no recourse to compensation schemes or dispute resolution services. Traders considering this broker should weigh the risks of operating with an unregulated entity.
Trading Instruments and Platforms
Based on the website, eTRADINGACCOUNT offers trading in Forex, Cryptocurrencies, Stock Indices, and Commodities via CFDs. The platform highlights a Covesting copy-trading module, allowing less experienced traders to mimic the strategies of selected top performers. The broker also touts fast execution and 0% commission on trades.
No specific trading platform (e.g., MetaTrader 4/5, cTrader) is named, but the presence of Covesting suggests a proprietary or third-party solution. The broker claims to provide 'enhanced tools' and 'trading guides', though details are sparse. Traders would need to sign up to access further information.
Account Types and Funding
The public website does not disclose any specific account tiers, minimum deposit requirements, or funding methods. The only call-to-action is to open an account, after which details may be revealed. This lack of transparency makes it difficult for potential clients to assess costs and entry barriers before registering.
In typical retail forex brokers, account types range from micro to VIP, each with varying spreads and leverage. eTRADINGACCOUNT has not provided such information publicly, which may indicate a less mature or less transparent operation.
Target Audience
The broker appears to target retail traders, particularly those interested in copy trading via the Covesting feature. The emphasis on 'Get more freedom in the markets' and 'Let top traders do the job for you!' suggests an appeal to beginners or those seeking a passive investment approach.
However, the high-risk nature of leveraged trading is acknowledged on the website with a standard risk warning. Given the unregulated status, this broker is likely suitable only for traders who fully understand the risks and are willing to forgo regulatory protection.
Risk Considerations
eTRADINGACCOUNT carries a FXCanary Scam Risk Score of 48 out of 100, categorised as 'Guarded'. This score reflects the absence of regulatory oversight, the broker's recent establishment (2020), and the limited publicly available information. While the website appears professionally designed, the lack of verifiable regulation is a significant concern.
Traders should conduct thorough due diligence, including verifying any claimed licences independently. The use of copy trading does not mitigate the inherent risks of margin trading, and funds deposited with an unregulated broker may be at greater risk in case of insolvency or misconduct.
Overview compiled by FXCanary from regulatory records and public data. full eTRADINGACCOUNT review