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General Information
Broker Name:Evolve
Broker Type:Crypto
Country:Saint Vincent and the Grenadines
Operating since year:2016
Address:Griffith Corporate Centre, Suite 305 Beachmont POB 1510, Kingstown Saint Vincent and the Grenadines
Broker status:Active
Customer Service
Email:[email protected]
The Trading platforms:MT4, MT5, Proprietary
Trading platform Time zone:/
Demo account:Yes
Mobile trading:Yes
Web-based trading:Yes
Other trading instruments:Yes
Minimum deposit: /
Maximal leverage:1:1000
Scalping allowed:Yes

Evolve Markets Review (2021 Update)


General Information

Evolve Markets is a cryptocurrency broker that’s been around for a while now. The firm stepped into the market in 2016, meaning it’ll soon be in business for half a decade. The brokerage primarily focuses on providing its customers with a quality crypto trading experience and offers different assets. Evolve Markets trading services include forex and commodities. The company is located at Sain Vincent and the Grenadines, more precisely Griffith Corporate Centre, Suite 305 Beachmont POB 1510, Kingstown.

Evolve Markets review

Its precise location is Griffith Corporate Centre, Suite 305 Beachmont POB 1510, Kingstown. The broker was a product when everyone was trying to cash in on the new, hot thing. At the time, the thing was cryptocurrencies, and many brokerages rose since then, making it challenging to stay competitive. The crypto brokerage world is cut-throat, requiring constant and aggressive innovation to stay on top. However, even when brokers manage to keep up with the technical requirements, other issues often sprout.

The other problem we’re talking about is safety. Ensuring online fund security was and is still a tall task. That’s especially true when dealing with crypto, which has even less protection than regular money online. Most crypto brokerages fail in both of the aspects we mentioned, sometimes right out the gate. However, in this review, we’ll focus on how well Evolve Markets’ security and conditions hold up.

In fact, we’ll give you a slight spoiler ahead of time; the brokerage isn’t horrible but leaves a lot to be desired. We won’t call it a scam as it does better than many of its competitors but doesn’t reach industry leaders. Before we elaborate further, let’s see what the broker presents as its best features:


  • Low Fees

Sadly, fees are a common thing with crypto brokerages, and it is incredibly hard to find one without them. As such, traders commonly need to settle for a brokerage that does not impose insane charges. Evolve Markets isn’t the most expensive option, but it’s also not the cheapest by a long shot. As such, we’re uncertain whether its low commissions are a good marketing point for the broker. It somewhat suggests that the broker has no other strong service areas to advertise.

  • Crypto Deposits/Withdrawals

Depositing and withdrawing by using cryptocurrency is a must for crypto brokers such as Evolve Markets. As such, it’s strange that it considers that a selling point. Furthermore, we believe that the deposit and withdrawal options are quite limited, lacking anything other than digital currency options. Even for crypto, the broker only accepts three coins, which means traders might need to go through an exchange process. At least the brokerage excluded any fees from deposits and withdrawals, unlike many of its peers.

  • A Referral Program

This one is somewhat contentious as referral programs can be considered a red flag. Many brokers include them in their service, but only shady firms market them prominently as a rule of thumb. Naturally, that isn’t enough for us to deem Evolve Markets a scam, but it invokes raised caution levels. Marketing referrals, along with some other issues, which we’ll mention later, make us think of the broker’s safety as sub-par.

Funds Trading and Security 

Security should be the primary concern for traders looking for a crypto brokerage. Many firms offer competitive conditions, but if there’s a chance of losing your money in a day, it’s simply not worth it. As such, traders are understandably touchy around things that signify that a broker might be untrustworthy. For crypto brokers, that feeling is even stronger, as fraudulent companies have already burned many.


Evolve Markets : We take security seriously

Evolve Markets’ particular case is slightly all over the place. It seems alright from the outside and hasn’t had any significant outbursts so far, but there’s nothing that stops it. The firm is unregulated and located in Saint Vincent and the Grenadines, a popular destination for shady financial businesses. That would perhaps be alright if the firm were starting, but it’s nearing its fifth anniversary. On the other hand, traders seem content with how the firm has treated them, lending it legitimacy.

It also has some decent security features. That comes in the form of 2FA protection for accounts, encryption, and cold storage.

The firm bounces back to shadiness again by structuring its website to lack info or straight-up lies. For example, the company’s address is complicated to spot, and they don’t have a phone number. That creates some doubt about the company’s validity.

Then we continue to the referral program we already mentioned in our Evolve Markets review. While the individual pieces of evidence against the broker aren’t massive, together, they create cause for concern. We don’t think Evolve Markets is currently a scam due to its positive reputation.

Trading Accounts

Evolve Markets has a pseudo-demo account option, letting you view the proprietary web trader without signing up. The feature is nice, although it doesn’t do much actually to test the functionality. There are no test funds, and clicking anything takes you directly to the sign-up page. There wasn’t a test option for any other platform besides the web trader, as far as we could tell.

Evolve Markets: referral program

As for the live account type, the broker has no minimum deposit, which is quite handy. Unfortunately, the broker only has one variation, meaning luxury traders might not get the treatment they crave. However, the single account structure is standard for crypto brokerages, so you might need to get used to it.

We can’t give the broker a hard time about its account structure, as it’s standard. However, we would’ve preferred a much more detailed demo.

Trading Conditions at Evolve Markets

The trading conditions are somewhat competitive, although not at the industry-leading level. The leverage the broker provides is quite nice, with 1:1000 on forex and most coins. Most of its other asset types cap out at a 1:500 rate. However, the broker combines fees with spreads, making executing positive trades much more challenging for traders. As we mentioned earlier in our Evolve Markets review, the costs aren’t massive but are above serious competitors’.

Besides that, the broker’s asset number is quite limited, reducing the overall trader experience quality. That puts the broker’s conditions in the medium to the sub-par range.

Additionally, we should note that the broker is unavailable if you’re a United States resident. That also regards areas where special licensing and prohibitions apply to crypto trading. As such, if you’re traveling to such places, the broker’s services might become unavailable.

Trading Platforms at Evolve Markets

Trading platforms are an area where the broker definitely invested a significant amount of effort. The company has two options in the MT5 platform and the Evolve web trader. As such, traders can go with what they find most comfortable, somewhat customizing their experience.

Evolve Markets: trading platfrms

That also partially reduces the impact of the fact that the broker doesn’t have a demo account. Since most traders are already comfortable with MT5, there’s less necessity for testing.

As for the proprietary platform, we found it somewhat underwhelming. The UI looks needlessly cluttered, while we couldn’t test the functionality without investing. It might be decent, but the first impression is a negative one.

Evolve Markets Trading Products

Evolve Markets’ trading instrument library is somewhat limited and is one of the main factors holding the broker back. For a crypto-focused brokerage, it’s unacceptable to have only twelve coin varieties to trade on. The broker makes up for it by offering different asset classes, but even those have limited internal diversity. As such, traders might find it challenging to locate an asset, they wish to trade on at times. That’s especially true if the trader prefers lesser-known trading products.

Webtrader and MetaTrader

Here’s a list of categories you can expect to see at Evolve Markets:

  • Cryptocurrencies
  • Forex
  • Indices
  • Commodities

Customer Service

Evolve Markets support lacks crucial options, as the only available method of reaching an operative is through email. That renders the structure outdated, as most traders prefer more direct contact options. The lack of a phone or live chat means you’re always uncertain about when you’ll get a response. It can also make problems much more strenuous and time-consuming to solve.

However, the email works 24 hours, five days a week, matching most brokerages.

Email[email protected]

customer support

Evolve Markets Review: Conclusion

Evolve Markets is a middle-of-the-road brokerage that does nothing to stand out from its competitors. It’s like the firm fulfilled the bare minimum and called it a day without putting any extraordinary effort in. The broker’s most commendable quality is the presence of multiple platforms. But even then, it’s likely traders will pick one and stick with it. Even that slight upside gets dragged down by the questionable security and sub-par asset count, and trading conditions.

The broker isn’t horrible, but it’s not excellent either. But when other brokers are a simple mouse click away, you need to be extraordinary to attract customers. Unfortunately, we can’t recommend using Evolve Markets, as better alternatives aren’t difficult to find.

  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 5 (73 reviews)

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