$97,000 Trapped by EVM Prime: Client Demands Deposit Return from the Broker

On May 28, investor Anil Kumar filed a complaint against EVM Prime through BrokersView, seeking the return of his $97,000 deposit from the forex broker.

According to Kumar, he deposited funds to EVM Pride via bank transfers and credit card, and executed several trades based on the advice of account managers.

A screenshot of Kumar’s trading records shows his account earned nearly $240,000 in profit from an initial deposit of $97,000. However, for unspecified reasons, his margin was later deducted, leading to restrictions on both trading and withdrawals, according to the client.

_{The screenshot of trading records provided by the investor.}

EVM Prime's account manager asked the investor to make additional deposits, which Kumar did. However, his $97,000 still could not be withdrawn.

Moreover, several salespeople and account managers who had communicated with Kumar are now unreachable. Meanwhile, his $97,000 was “transferred to Equal Money UK as per instruction in EVM Prime portal.”

BrokersView reminds you

EVM Prime is purportedly regulated by the Mohéli International Services Authority (MISA) under registration number T2023415.

However, the main financial regulators in Comoros are the Ministry of Finance of the Union of the Comoros, the Central Bank of Comoros, and the Comoros National Investment Promotion Agency (Agence Nationale de Promotion des Investissements, ANPI), instead of MISA.

It is worth noting that the Central Bank of Comoros has explicitly stated that MISA has no authorization to regulate financial service providers.

_{The Central Bank of Comoros issued a document against 'fictitious structures' in 2022.}

Before making an investment decision, you can avoid unnecessary risk by checking with BrokersView to see if the broker holds a financial services license in your country/region.