About Trek Labs Europe Ltd
Broker Overview
Trek Labs Europe Ltd, trading as Backpack EU, is a Cyprus-registered cryptocurrency exchange that also offers derivative products. The entity was originally established as FTX EU Ltd and later rebranded following the acquisition by Backpack. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 273/15, a MiFID II license that allows it to provide investment services to retail and professional clients within the European Union.
The broker operates through the domain eu.backpack.exchange and uses the trade name Backpack EU. Its registered address is at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. The company registration number is HE 335683, and its CySEC license has been active since April 23, 2015.
Regulation and Safety
Backpack EU is regulated by CySEC, a well-known financial regulator in the EU. The CySEC license number 273/15 is active and can be verified on the regulator's public register. The broker is classified as a Cypriot Investment Firm (CIF) under MiFID II, which imposes requirements on capital adequacy, client money segregation, and reporting.
Despite its regulatory status, FXCanary's research indicates a guarded risk score of 34 out of 100 for Trek Labs Europe Ltd. This score reflects the broker's connection to the collapsed FTX exchange, although it has since been restructured. Traders should weigh the regulatory oversight against the historical context when considering this broker.
Products and Services
Backpack EU offers a range of products focused on digital assets. The main offerings include spot trading of cryptocurrencies and perpetual futures contracts. Perpetual futures are derivative instruments that allow traders to speculate on the price movements of cryptocurrencies with leverage, without an expiry date.
The platform also provides auto lending features, where deposited assets are automatically lent out to generate yield. This is integrated into a cross-margin system, meaning all assets can be used as collateral for trading. Fiat deposits and withdrawals are supported via SWIFT wire transfers for USD, though certain jurisdictions are restricted.
Account Types and Platforms
Based on available information, Backpack EU serves both retail and professional (wholesale) clients, as per its CySEC classification. The trading is conducted through a web-based platform accessible via backpack.exchange and a dedicated support site at eu.support.backpack.exchange.
The broker does not appear to offer a downloadable desktop or mobile app, but the web platform is designed to be compatible with mobile browsers. User accounts are tiered based on trading volume and BP token staking, which determine fee discounts and VIP status.
Target Audience
Backpack EU is aimed at both retail traders and institutional clients within the European Union and other permitted jurisdictions. The platform's auto lending and cross-margining features are particularly attractive to active traders who want to maximize capital efficiency.
The broker also markets to global users, claiming to serve over 150 countries, though certain regions (including the United States and UAE) are excluded from fiat services. The rebranding from FTX EU may appeal to traders familiar with the original FTX platform, but others may be cautious due to the prior collapse.
Customer Support and Transparency
The broker provides a comprehensive documentation site (eu.support.backpack.exchange) with FAQs, trading rules, fee schedules, and risk disclosures. Risk disclosure policies are provided in compliance with CySEC requirements.
Customer support contact details include a Cyprus phone number and an email address: info@eu.backpack.exchange. However, there is limited independent information about the quality of customer service, as the broker is relatively new under its current branding.
Overview compiled by FXCanary from regulatory records and public data. full Trek Labs Europe Ltd review