Internet Culture

Deep Dive: Analyzing Why EverFX Has a Published Review in the Online Broker Space

Online Geeks | Updated On November 25, 2025

Did you get into trading and wonder why EverFX has a published review in the online broker space? EverFX was established back in 2016 in Cyprus, Cayman Islands, and it’s known for letting people trade crypto, currencies, metals, indices, stocks, and more. The group accepted clients from all across the world, with a few exceptions like the USA, North Korea, Canada, Iran, and Belgium. 

Looking up EverFX online will reveal a mix of information and opinions. But why does it have a published review in the online broker space? Here’s all you need to know. 

One of the Most Popular Brokers

Perhaps one of the biggest reasons why EverFX has a published review in the online broker space is that it is one of the most popular brokers in the scene. EverFX was named the fastest-growing CFD broker in Europe back in 2018, and it also won several awards. 

Launched in 2016, the EverFX group has 2 related companies. One of them was EverFX CY, which was located in Cyprus, and EverFX KY, which was located in the Cayman Islands. The broker was registered and monitored by the KNF, CMNV, FCA, and FI. 

Trading Central offered an objective market analysis for it. The broker offered a wide range of cryptos for trading, and even had five different account types, such as Entry, Standard, Premium, VIP, and a swap-free option for Muslim traders. 

Fraudulent Schemes and Ceased Operations 

Something that led to EverFX having published reviews in the broker space online is its closure. The broker was exposed for fraudulent operations, leading to it having to close. 

The investment platform was fake, posing as a Forex market broker but actually misappropriating client money without making real investments. In 2021, EverFX was only forbidden by the Financial Conduct Authority to stop offering its CFD clients in the UK. Apparently, the company’s misleading operations caused this, as they didn’t offer proper financial instruments, and they blocked withdrawals. Not only that, but EverFX didn’t have the right authorizations to run. 

Then, in 2022, the Spanish police arrested “Pablo A.”, who led EverFX and was thus one of the biggest participants in this scam. EverFX was part of the criminal network Milton Group, which was in charge of 152 fraudulent brands. More than 170,000 people were defrauded by the network all across the world, and many Spanish people were victims. 

“Pablo A.”, was arrested at the El Prat airport in Barcelona. He was responsible for taking care of the money of Spanish victims, who were persuaded to give their money to the fictitious broker. 

Today, EverFX is no longer active. 

Final Thoughts

The popularity of EverFX, combined with the fact that it was revealed to engage with fraudulent schemes, are the reason why there’s a published review for the brokerage online. While the broker has closed, investors can choose from many other options. It’s recommended to check reviews for each broker and do research before using one to avoid scams.