Encounter Finance Ltd Review

About Encounter Finance Ltd

Encounter Finance Ltd (domain enctops.com) is not authorised to provide investment services in Spain. The Comisión Nacional del Mercado de Valores (CNMV) has added it to its warning list, citing provision of investment services without authorisation; the warning was issued on July 17, 2023. The firm lacks any recognised regulatory licences. Its domain was registered in March 2023, despite claims by the firm of being established in 2016. These discrepancies raise significant concerns regarding its legitimacy and transparency.

No information is publicly available confirming licences from any financial regulators such as FCA, CySEC, ASIC, or similar. The broker is therefore unregulated, lacks segregated client accounts, negative balance protection, and any guarantee of fund security. It offers trading in forex, commodities, indices, cryptocurrencies, and stocks via a proprietary web platform, with leverage reportedly up to 100:1 or 500:1, spreads ranging from 2 to 3 pips, and crypto-only deposit/withdrawal options. However, these claims originate from third-party review sites rather than the broker's official sources, and remain unverified.

Pros and cons

Cons

• No regulation or licensing
• Warning issued by CNMV (Spain) for unauthorised services
• Misleading establishment claims versus domain registration date
• Lack of transparency on account types, minimum deposit, fees and company documentation
• High leverage and spreads as reported by external reviews