According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $250
- Mobile Apps
- MetaTrader5
- Evest WebTrader
- VFSC
- FSCA
Our Evaluation of Evest
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Evest is a moderate-risk broker with the TU Overall Score of 5.52 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Evest clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Evest specializes in Forex, CFDs, and investment asset portfolios. It offers access through proprietary trading platforms and MT5, allowing potential clients to choose the option that best suits their strategy.
Brief Look at Evest
Evest was launched in October 2020 to provide better trading conditions for traders in the MENA region. It specializes in the Forex market and CFD instruments, including spot trading on stocks, stock indices, metals, and cryptocurrencies. Evest also offers investments in pre-made asset portfolios, provides leverage for more effective trading, and gives traders access to up-to-date analytical data on various markets. Every year, Evest receives awards in different categories at Forex Expo Dubai, including Best Forex Broker in the MENA region.
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- Licensed brokerage activities with offices worldwide;
- Over 400 CFDs and currency pairs;
- Trading with floating spreads without additional fees;
- The option to switch to a swap-free Islamic account;
- Market access through both proprietary and classic Forex platforms like MetaTrader 5;
- Free access to the Cooma copy trading service;
- Instant, fee-free deposits.
- Delayed fund withdrawals with slow processing times;
- High spreads on accounts with balances up to $20,000;
- Lack of live technical support.
TU Expert Advice
Financial expert and analyst at Traders Union
Evest is a relatively new brokerage company focused on serving traders in the Middle East and North Africa. Within a year of its founding, it developed a proprietary web platform and partnership program, created a trading academy, and added the option to trade on the classic MetaTrader 5 platforms. Thanks to a successful start and rapid development, Evest was named the fastest-growing broker in the MENA region at Forex Expo Dubai 2021.
But they didn't stop there. In 2022, Evest opened up copy trading for its clients, introduced investments in Evest Investment Basket (EIB), improved its mobile apps, and obtained its first license from the South African regulator FSCA. A year later, they received another license to provide brokerage services from the VFSC (Vanuatu), and they are currently working on acquiring new licenses in other regions.
However, there are some downsides, such as high spreads. Additionally, overnight trading, which involves carrying a position over to the next day, has certain peculiarities with this broker. Unlike other companies, all Evest swaps are negative. This means that long and short positions carried overnight will result in losses for the trader. Of course, this does not apply to Islamic accounts, where this type of fee is not charged.
Evest Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 5, Evest WebTrader, Mobile App |
|---|---|
| 📊 Accounts: | Demo, Silver, Gold, Platinum, Diamond, Islamic Trading Account (Islamic, Islamic Pro, Islamic Pro Plus), Ramadan Diamond (periodically) |
| 💰 Account currency: | USD |
| 💵 Deposit / Withdrawal: | Wire Transfer (SWIFT, IBAN), VISA, VISA Electron, Maestro, MasterCard, American Express, Skrill, Neteller |
| 🚀 Minimum deposit: | $250 |
| ⚖️ Leverage: | Up to 1:400 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 2,0-2,7 pips |
| 🔧 Instruments: | Forex, CFDs on stocks, stock indices, cryptocurrencies, commodities, EIB (Evest's ETF equivalent), index futures |
| 💹 Margin Call / Stop Out: | 100%/20% |
| 🏛 Liquidity provider: | N/A |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market Execution |
| ⭐ Trading features: | Fee-free CFD trading on stocks and currency pairs, floating spreads for all assets |
| 🎁 Contests and bonuses: | Yes |
Evest offers trading in currencies and contracts for difference (CFDs) on the MetaTrader 5 platform and its proprietary web platform. Traders can use leverage to increase their buying power. After registering a primary trading account, traders can open additional live and demo accounts. A deposit between $250 and $5,000 grants access to basic options. To trade on better terms and use advanced tools such as Trading Central, MARKET BUZZ, and the economic calendar, a balance of $20,000 or more is required.
Evest Key Parameters Evaluation
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Trading Account Opening
The user account on the Evest website is designed for its clients. Through it, traders can manage their accounts and funds, trade on the web platform, view market data, and communicate with technical support. To create a user account, follow these steps:
Click on "Get Started" in the top panel of the website.
Complete the account opening form.
After registering, log in to your account with the following features:
Additional features of Evest’s user account allow traders to:
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Upload documents for the KYC procedure;
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View real-time market data;
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Access trading tools if the account balance exceeds $20,000;
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Submit withdrawal requests;
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Monitor referral rewards and bonus funds;
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Create support tickets.
Regulation and safety
Evest has a safety score of 6.2/10, which corresponds to a Medium security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Not tier-1 regulated
Evest Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 VFSC |
Vanuatu Financial Services Commission | Vanuatu | No specific fund | Tier-3 |
 FSCA SA |
Financial Sector Conduct Authority of South Africa | South Africa | No specific fund | Tier-2 |
| MISA (Mwali) | Mwali International Services Authority | The Comoros | No specific fund | Tier-3 |
Evest Security Factors
| Foundation date | - |
| Negative balance protection | No |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker Evest have been analyzed and rated as High with a fees score of 3/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- No inactivity fee
- No deposit fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Evest with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Evest’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Evest Standard spreads
| Evest | Pepperstone | OANDA | |
| EUR/USD min, pips | 2,0 | 0,5 | 0,1 |
| EUR/USD max, pips | 2,7 | 1,5 | 0,5 |
| GPB/USD min, pips | 2,3 | 0,4 | 0,1 |
| GPB/USD max, pips | 3,2 | 1,4 | 0,5 |
Does Evest support RAW/ECN accounts?
As we discovered, Evest does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Evest. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Evest Non-Trading Fees
| Evest | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0-2 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
After filling out the registration form on the Evest website, the broker opens a live account for the new client. The account status changes depending on the amount of funds deposited.
Account Types:
In addition to live accounts, the broker offers demo accounts. These accounts provide $25,000 in virtual USD for trading in a simulator. Demo accounts are available on Evest's proprietary web platform.
Evest continuously improves its services, adding new trading instruments and features, aiming to provide clients with the best experience for trading financial assets in the OTC markets.
Deposit and withdrawal
Evest received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
Evest provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- No deposit fee
- Bank card deposits and withdrawals
- Bank wire transfers available
- Low minimum withdrawal requirement
- Minimum deposit above industry average
- Only major base currencies available
- Withdrawal fee applies
What are Evest deposit and withdrawal options?
Evest provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller.
Evest Deposit and Withdrawal Methods vs Competitors
| Evest | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | No | No | No |
What are Evest base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Evest supports the following base account currencies:
What are Evest's minimum deposit and withdrawal amounts?
The minimum deposit on Evest is $250, while the minimum withdrawal amount is $25. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Evest’s support team.
Markets and tradable assets
Evest offers a limited selection of trading assets compared to the market average. The platform supports 400 assets in total, including 43 Forex pairs.
- Crypto trading
- Copy trading platform
- 43 supported currency pairs
- Futures not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by Evest with its competitors, making it easier for you to find the perfect fit.
| Evest | Plus500 | Pepperstone | |
| Currency pairs | 43 | 60 | 90 |
| Total tradable assets | 400 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products Evest offers for beginner traders and investors who prefer not to engage in active trading.
| Evest | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Customer support
Like any broker, Evest has a support team to assist traders with any issues related to trading, finance, or technical matters.
Advantages
- Each client is assigned a personal manager
- Free calls to the broker for traders from the UAE and Saudi Arabia
Disadvantages
- No online chat on the website
- The company does not provide support via messaging apps
The main communication channels with Evest are:
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Phone;
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Ticketing system in the user account.
The contact section of the website includes a form for requesting a callback or receiving a response to an email inquiry.
Contacts
| Registration address | ATRIAFINANCIAL LTD, S.I.P. Building, P.O Box 3010, Rue Pasteur, Port Vila, Vanuatu |
|---|---|
| Regulation | VFSC, FSCA |
| Official site | https://www.evest.com/ |
| Contacts |
+971-521-733-716, +966-115-112-675
|
Education
On its website, Evest provides training through video tutorials for both beginners and advanced traders, as well as e-books. The company’s analysts also host webinars on trading basics, analysis, and strategies for registered clients.
For those new to trading, a demo account is available. It allows traders to experience real market conditions using virtual funds, meaning there is no risk of losing real money.
Comparison of Evest with other Brokers
| Evest | Eightcap | XM Group | RoboForex | Bybit | Kama Capital | |
| Trading platform |
MetaTrader5, Mobile Apps, Evest WebTrader | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MetaTrader5 | MetaTrader5 |
| Min deposit | $250 | $100 | $5 | $10 | No | No |
| Leverage |
From 1:1 to 1:400 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:400 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | 10.00% | No | No |
| Spread | From 0.5 points | From 0 points | From 0.8 points | From 0 points | From 0 points | From 0 points |
| Level of margin call / stop out |
100% / 20% | 80% / 50% | 100% / 50% | 60% / 40% | No / 50% | 20% / No |
| Order Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | Yes | No | Yes |
Detailed Review of Evest
Evest started by serving traders from the MENA region. Currently, it offers accounts tailored for residents of countries such as UAE, Saudi Arabia, Libya, Qatar, Morocco, and others. The broker has also expanded internationally. Since 2023, its website and technical support have been available in English and Spanish, in addition to Arabic. Evest uses advanced technologies, including Secure Socket Layer (SSL), to ensure the confidentiality and security of data during all financial transactions.
Evest by the numbers:
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Partner payouts have exceeded $15.3 million;
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Traders can trade more than 400 financial instruments;
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Evest has received awards at the Forex Expo Dubai for three consecutive years;
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There are 8 methods for depositing and withdrawing funds;
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The average order execution speed is 0.03 ms.
Evest is a broker for trading currencies and CFDs with leverage
Evest allows trading CFDs on over 300 stocks with zero fees, paying only the spread. Free stock trading is available on all markets, allowing traders to choose assets from any country available on the platform, quantity, or the duration of holding positions open, although the maximum leverage is 1:100. Overall, Evest offers trading on more than 400 financial instruments, including over 45 currency pairs with leverage up to 1:400.
The broker supports trading 12 cryptocurrencies 24/7 with 1:2 leverage, and more than 10 stock indices from the U.S., Asia, and Europe with leverage up to 1:100. It also offers trading on 10 commodities, including metals, oil, gas, and agricultural products with leverage up to 1:100, and index futures. Evest does not provide access to stock exchanges - trading is conducted on the OTC market via CFDs.
Useful Functions of Evest:
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Real-Time Data. Currently, the broker's website streams information only on stocks, but soon it will include currencies, commodities, indices, futures, and cryptocurrencies;
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Market Hours. The Evest website has a schedule for trading currencies, indices, ETFs, stocks, and futures, showing times for both Saudi Arabia (GMT+3) and GMT;
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Trading Calculators. These help traders calculate support and resistance points (Pivot), position sizes, and Fibonacci levels;
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Demo Account. This is intended for learning, training, testing the broker's trading conditions, and developing and improving trading strategies.
Advantages:
Wide variety of CFDs and currency pairs;
High leverage for all available assets;
News feeds for different markets;
Up-to-date analytics and free trading signals;
Ability to trade on a demo account.
Evest offers access to multiple markets and conducts webinars, podcasts, and streams to help clients develop successful trading strategies and professional trading skills.
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