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EC Markets Exposed 2025: Withdrawal Horror, Regulatory Breaches & “VIP Tax” Scams
Introduction
EC Markets positions itself as a “multi-regulated broker” with deep credentials and global reach. But beneath that reputation lie disturbing reports: withdrawal failures, identity verification delays, redemptions from VIP accounts deemed “taxes,” and regulatory censure histories. At ScamBrokersReview.com, we dig into these claims and ask: is EC Markets hiding a scam behind its branding?
1. Regulators & a History of Breach
FMA Censure: From CTRL to EC Markets
Before operating as “EC Markets,” the company was once CTRL Investments Limited. The New Zealand FMA censured CTRL for violating its Derivatives Issuer licence, failing minimum net tangible asset (NTA) requirements over a year span. (Financial Markets Authority)
In August 2024, CTRL rebranded as EC Markets Financial Limited. (Financial Markets Authority)
This regulatory breach signals that the entity has had financial troubles and oversight issues in the past.
Licensing Claims + Reality Check
EC Markets claims multiple licenses:
- FCA (UK) — trading name “EC Markets Group Ltd,” FRN 571881 (WikiFX)
- ASIC (Australia) — via EC Markets Financial Limited (investingLive)
- Seychelles FSA — License SD009 under “EC Markets Limited” (investingLive)
- Mauritius FSC — License GB2100130 (investingLive)
- South Africa FSCA — License No. 51886 (investingLive)
But claims of licensing don’t automatically guarantee integrity. Many traders report withdrawal delays and inconsistent verification procedures on platforms like WikiBit. (Wikibit Forex)
Also, licensing under many jurisdictions is sometimes used as a cover — domain verification, operational transparency, and compliance enforcement vary greatly by regulator.
2. Complaints & Warning Signals
Withdrawal Failures & Identity Holdups
- On ForexPeaceArmy, a user reports: “I have not even traded on their account as they took a whole 5 days to verify my ID. Now my passport info must stay in their company.” (Forex Peace Army)
- Trustpilot reviews include scathing statements: “ecmarkets is scam … when profit > deposit, they claim “stream toxic flow orders.” (Trustpilot)
- On BrokersView, a user says: “They scammed me. Sent documents for days to get funds back.” (BrokersView)
“VIP Platform Tax” Scam Reports
On Reddit in /r/Report_scams:
“When I requested to withdraw I paid 20% tax, then they asked me to verify identity and I paid 30,000 USD. In the end, could not withdraw. Scam by external support service.” (Reddit)
This suggests a typical ploy: lure high-value traders into VIP plans, then demand large “taxes” or conditions before funds can be released.
3. Execution, Manipulation & Platform Issues
An academic paper “Profit and Loss Manipulations by Online Trading Brokers” outlines how brokers may manipulate their platform’s behaviour — e.g., disappearing trades, altered stops, or delayed execution — to disadvantage profitable clients. (arXiv)
With EC Markets, the combination of delayed payouts, identity holdups, and VIP tax demands gives rise to suspicion that these platform manipulations might be at play behind the scenes.
4. Scam Checklist Comparison
| Scam Red Flag | Evidence in EC Markets |
|---|---|
| Regulatory censure / license breach | FMA censured predecessor CTRL. (Financial Markets Authority) |
| Withdrawal delays & verification stalling | FPA and Trustpilot complaints. (Forex Peace Army) |
| VIP tax demands to release funds | Reddit users claim 20% tax demands. (Reddit) |
| Heavy licensing claims used defensively | Multiple license claims but operational complaints persist. (investingLive) |
| Mixed reputation, negative reports | Trustpilot, BrokersView, WikiFX contain serious complaints. (BrokersView) |
Given all of this, EC Markets ticks many boxes used to identify scam brokers.
5. Internal Links (ScamBrokersReview.com) to Embed
To strengthen SEO and context, embed these links within your published article:
- Why Withdrawal Failures Are the #1 Sign of a Scam
- How Offshore Forex Regulation Endangers Traders
- MT4/MT5 Broker Manipulation – How It Works
- Scam Broker Red Flags Every Trader Should Know
- How to Recover Money from Scam Brokers
Place them where you discuss withdrawals, regulation, platform risk, red flags, and recovery.
6. What Should Injured Traders Do
If you deposited with EC Markets and face issues:
- Stop sending more funds
- Secure all evidence — verification requests, chat logs, withdrawal attempts, screenshots
- Request a chargeback from your bank or card provider
- Submit complaints to regulators (FCA, FMA NZ, FSC Mauritius)
- Expose your case publicly — post on Trustpilot, FPA, Reddit
- Decline recovery firms that demand upfront fees
- Use our internal guide: How to Recover Money from Scam Brokers
7. Final Verdict
EC Markets may advertise credible regulation and broad operations. But its history of regulatory breach, persistent withdrawal complaints, and reports of “VIP tax” ploys make it highly suspect for 2025.
👉 Verdict: EC Markets behaves in many ways like a high-risk broker with scam-like traits. Only trade with extreme caution — test withdrawals, use small funding, prefer brokers with transparent track records and regulation by trustworthy authorities (FCA, ASIC, CySEC).
