EverFX: What You Need to Know

January 24, 2025

Lost money through EverFX’s CFD trading?  You’re not alone.

Thousands of investors were misled and in some cases aggressively pressured into parting with their money.

Here’s what we know so far…

How EverFX targeted UK investors

EverFX targeted UK investors offering high-risk CFD (Contract for Difference) trading.

It was part of a group belonging to ICC Intercertus Capital Ltd, a firm based in Cyprus and regulated in the UK under the Temporary Permission Regime (TPR).

According to the FCA EverFX used the fact that ICC Intercertus was regulated in the UK to convey legitimacy and encourage UK consumers to transact with overseas members of the EverFX Group.

These overseas entities were not authorised to provide regulated services in the UK, leaving investors without the protections they would have had with a fully regulated firm.

This led to some consumers losing very significant sums of money.

FCA Action against EverFX

In 2021, the Financial Conduct Authority (FCA) took decisive action against ICC Intercertus Capital Ltd and the EverFX Group for non-compliant and misleading practices.

The FCA identified serious concerns, including:

  • Misleading financial promotions
  • Inadequate risk disclosure for CFDs
  • Restrictions on customer fund withdrawals

As a result, the FCA stopped ICC Intercertus from conducting any regulated or marketing activities in the UK. They also required the firm to take reasonable steps to prevent other members of the EverFX Group from doing the same. Additionally, the FCA ordered the closure of all trading positions and mandated the return of funds to affected investors.

EverFX’s Connections and Rebranding

EverFX’s sponsorship of Sevilla FC may have raised its profile, but it did not shield the company from regulatory scrutiny or protect investors.

Recent investigations claim to have linked EverFX to a larger criminal network, the Milton Group, which was the subject of international law enforcement actions.

EverFX rebranded as Axiance and is now operated by Aerarium Limited, a company regulated by the Seychelles Financial Services Authority (FSA).

Understanding CFDs and Their Risks

Contracts for Difference (CFDs) are complex financial instruments that carry significant risks. Key risks include:

  • Leverage that can multiply your losses rapidly
  • Complex pricing structures hiding the real costs
  • No ownership of underlying assets
  • High fees and spreads reducing profits
  • Market volatility leading to automatic losses

Recovering Funds from EverFX

The FCA ordered EverFX to stop offering CFD’s to UK customers, close all their trading positions, and return money to customers.

If you were an EverFX customer in the UK, you should have had your positions closed and funds returned.

If this hasn’t happened, you may need to pursue other avenues for recovering your funds.

Take Action Today

The sooner you act, the better your chances of recovering your losses. Time limits apply to financial fraud and mis-selling claims, so don’t delay in making a claim yourself or seeking expert advice about your EverFX losses.

How We Can Help You Recover Your Losses

If you’ve lost money through EverFX or any other investment, our trained team can assess your situation and determine if you may have a case with our free, no-obligation initial consultation.

It’s then up to you to decide if you want to use our service to handle your claim.

About Our Claims Process

Compensation Adviser’s claims management service can provide valuable support in navigating complex cases:

  1. Guidance Every Step of the Way: Our experienced claims team will answer your questions and offer clear guidance.
  2. Evidence Gathering: We’ll review and organise all necessary documentation.
  3. Claim Preparation and Submission: We’ll build a robust claim to present your case effectively, ensuring all relevant details are clearly documented.
  4. Negotiation with Relevant Parties: We will advocate on your behalf to seek the best outcome.
  5. Resolution and Recovery: We aim to assist in recovering funds owed to you, but outcomes depend on individual circumstances and are not guaranteed.

Our fee is 15%+VAT which you only pay if we successfully secure you an offer of compensation

No hidden fees. Cancelation fees may apply if you cancel after the 14 days cancelation notice.

You can make a claim yourself to the relevant companies free of charge.

About Compensation Adviser

Compensation Adviser is a regulated claims management company specialising in financial compensation claims.

You do not need to use a claims management company (CMC) to make your claim.

It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) whichever is applicable to your claim.