Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
10/10 · CriticalNo financial licence in any jurisdiction, a company registration presented as its credential and now cancelled, and a current regulator warning-list entry naming the company.
Identity & transparency
8/10 · CriticalA real, verifiable registered entity, but no named officer anywhere, a mass-registration offshore suite, an undisclosed Bulgarian and Seychelles sales arm, and a representative who published a complainant's real name in public.
Withdrawals & conduct
7/10 · HighA fund-integrity pattern meeting three of four tests, with account numbers and amounts, set against a documented 10,000 dollar payout and several confirmed smaller withdrawals.
Reputation
7/10 · HighA thin 76-review footprint with identical praise text reused across platforms under different names, multiple scam threads, and no positive signal from any authoritative source.
Website claims
8/10 · CriticalPromised capital standards, independent audits and protection comparable to bank deposit protection while unlicensed, though it never fabricated a licence and its stated founding year is accurate.
Operational history
5/10 · ModerateNine years of genuinely verified operation from 2015, offset by the business now being wound up with both companies cancelled and the site dead.
Who they are
A quick desk file on the company behind the brand.
- Brand: Esplanade, also written Esplanade-MS.
- Legal entity: ESPLANADE MARKETS SOLUTIONS LTD., Saint Vincent and the Grenadines company number 22514, incorporated 9 February 2015, status Cancelled. A continued vehicle, Esplanade Markets Solutions LLC, number 3011, was created on 11 April 2023 and is also Cancelled.
- Registered: Suite 305, Griffith Corporate Center, Beachmont, Kingstown VC0100, P.O. Box 1510, Saint Vincent and the Grenadines. An earlier client contract gives The Jaycees Building, Stoney Ground, Kingstown.
- Website: esplanade-ms.com, registered 15 January 2015. It serves no page today. Former addresses esplanade.market, esplanade-ms.space and esplanade2.marketsfxgroup.com no longer resolve.
- Only licence: none. It held no authorisation from any financial regulator in any jurisdiction at any point.
- Offers: MetaTrader 4 with Fix, Standard, ECN and VIP accounts, around 50 currency pairs, spot metals, and CFDs on indices, shares and oil, leverage to 1:1000, minimum deposit 250 dollars, plus a RAMM copy-trading product. Deposits by card, MIR, Bitcoin and USDT TRC20.
- Not accepted: United States residents, and CFDs were withheld from United Kingdom customers.
- Age claim: its pages carried a 2015 to 2024 copyright line, and the company register confirms February 2015. Its LinkedIn profile says 2014.
- Contact as published: a single Cyprus telephone line on +357 25 654-100 staffed 09:00 to 18:00, and a support address on a separate esplanade-ms.space domain. No named director or officer appeared anywhere on the site.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Registrar of International Business Companies, Saint Vincent and the Grenadines (Financial Services Authority)
Why we reached this verdict
How the evidence adds up.
Five findings carry the verdict, and the first is the strongest because a regulator reached it independently.
- A regulator names the company. The Bulgarian Financial Supervision Commission publishes a list of companies that are not licensed by it and have no right to act as an investment intermediary or management company in Bulgaria. Entry 25 reads Esplanade Market Solutions, with the trade name it operated under recorded as AVIAREX. The entry appears on the version current to 7 January 2026 and again on the version current to 27 July 2026, so it is not historic.
- That entry corroborates the worst client account. A Kazakh client published his 2015 contract naming three parties: himself, Esplanade Market Solutions under registration 22514 IBC 2015, and Aviarex Business LTD of the Seychelles. Aviarex phoned him, placed every trade on his account by oral instruction, and pushed his deposit from 5,000 to 55,000 dollars. On 21 April 2016 two trades under an hour apart, in American Express and Qualcomm, wiped the balance. He later found a negative balance he had not caused. The regulator recording AVIAREX as Esplanade's trading name confirms that pairing from an official source, years after he described it.
- Balances disappeared when clients asked to withdraw. One trader reported that his account was blocked and his whole trade history deleted when he asked to withdraw part of his profit, and attached before and after records. A second posted account number 46187930, a 500 dollar deposit grown to 4,062 dollars, and the account disabled before payment. A third reported withdrawals requested and nothing received after seven days. Three of the four pattern tests are met: one repeating mechanism, several independent users across more than one platform, and checkable amounts, dates and account numbers.
- It promised protections it could not have had. Its own client-security page told readers funds sat in segregated accounts, that the firm met investment-firm capital requirements, that independent auditors prepared a detailed annual report, and that deposits were protected by a system "comparable to bank deposits protection systems". None of that applies to an unlicensed Saint Vincent company, which files no public accounts and answers to no financial supervisor. The same pages carried a line saying the broker does not offer trading on the forex market, while the site sold exactly that.
- It solicited where it had no permission. The only published phone number was Cypriot, the site ran English, Russian, Azeri and Arabic versions, and it took roubles and MIR cards. An operation with no licence in any jurisdiction, selling into the European Union and the CIS, is outside any permitted scope, and Bulgaria's regulator said so.
Two things pull the score down rather than up, and we have credited them. Esplanade did not fake a licence or wear another firm's credentials, which is what most operations of this shape do, and its nine-year history is genuine and verified from the company register and the domain record rather than taken from its About page. That is why this is not recorded as a confirmed scam or as a clone.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Bulgarian Financial Supervision Commission names Esplanade Market Solutions at entry 25 of its official list of companies that are not licensed by it and have no right to act as an investment intermediary or management company in Bulgaria. The trade name recorded against it is AVIAREX. The entry appears on the version current to 7 January 2026 and again on the version current to 27 July 2026.
E2The Saint Vincent FSA company register records ESPLANADE MARKETS SOLUTIONS LTD., registration 22514, a BC-Business Company incorporated on 9 February 2015, with status Cancelled and registered agent Wilfred Services Ltd. It also records Esplanade Markets Solutions LLC, registration 3011, continued on 11 April 2023, likewise Cancelled. The register was last updated on 12 October 2026.
E3The Saint Vincent FSA states on its own site that the Authority does NOT issue licences for Forex trading or brokerage activities in this jurisdiction, and does NOT regulate or license Business Companies or Limited Liability Companies engaged in forex trading or brokerage. The notice carrying that statement concerns a different firm and says nothing about Esplanade; it is cited only for the Authority's position on forex licensing.
E4Esplanade's own client-security page told readers that customer funds were held in segregated accounts, that the firm maintained investment-firm capital adequacy, that independent auditors prepared a detailed annual report, and that deposits were protected by a system comparable to bank deposits protection systems. The company held no financial licence and published no accounts.
E5A trader reported that when he asked to withdraw part of his profit the company blocked his account and deleted every transaction from his history, and posted before and after records with the broker's own trading rules. A second trader in the same thread gave account number 46187930, a deposit of about 500 dollars grown to 4,062 dollars, and said the account was disabled before payment, noting his trades ran three to ten minutes.
E6A client published his 2015 three-party contract naming Esplanade Market Solutions under registration 22514 IBC 2015 and Aviarex Business LTD of the Seychelles, with deposits routed to a Bulgarian bank account in Esplanade's name. Aviarex placed every trade by telephone, pushed his deposit from 5,000 to 55,000 dollars, and on 21 April 2016 two trades under an hour apart in American Express and Qualcomm zeroed the account. He later reported a negative balance he had not caused and a history that would not load.
E7The company's own representative replied in that thread, confirmed the complainant was a client, said Esplanade merely executed orders placed by the third-party trading company Aviarex, and stated the client had successfully withdrawn 10,000 dollars on 31 March 2016. The client confirmed the payment. This is the clearest evidence that withdrawals did function at least in part.
E8In the same reply the representative published the complaining client's real name in public, which the forum moderator removed with a note that revealing identifying information about clients is unethical and breaches the rules of nearly all regulators.
E9Trustpilot holds 76 reviews at 4.2 stars for esplanade-ms.com, with 56 percent at five stars and only 3 percent each at one and two stars, and no reviews at all in the past twelve months. The negative band contains a detailed account of a cold call, a manager directing every trade, a bonus withdrawn so that all losing positions closed, and an ultimatum to deposit more; that review ends by promoting a paid recovery agent, so we have excluded it from the complaint weighting.
E10A praise review posted to Trustpilot in May 2020 about the ECN account, tight spreads and being able to focus on analysis and balance of mind reappears almost word for word as a June 2023 comment under a different name on a separate review site. Reused praise text across platforms is a reputation-management signal, not independent customer feedback.
E11A review site records that as of 5 February 2025 Esplanade was unregulated, that it used to cite Saint Vincent registration 22514IBC2015, that the registration had been cancelled and that the website had been disabled. A June 2023 comment on the same page reports withdrawals requested with no money received after seven days.
E12esplanade-ms.com returns a bare 404 from its host and its certificate is not trusted. The last archived copy of a working brokerage site dates from February 2024; from September 2024 to October 2025 the address served only a default server placeholder saying the host is not set up, and by February 2026 it returned 404. The support domain esplanade-ms.space and the former addresses esplanade.market and marketsfxgroup.com no longer resolve.
E13Esplanade's contact page published a single Cyprus telephone number, +357 25 654-100, staffed 09:00 to 18:00, and a support address on a separate domain, with no office and no named person. The site ran English, Russian, Azeri and Arabic versions and accepted roubles and MIR cards. An operation with no licence in any jurisdiction was therefore selling into the European Union and the CIS.
E14Esplanade's legal pages described number 22514 IBC 2015 accurately, as an incorporation by the Registrar of International Business Companies, and claimed no regulator and no licence. The same footer carried a line stating the broker does not offer trading services on the forex market, while the site sold MetaTrader 4 currency trading.
E15The IOSCO international alerts network, which aggregates the warning lists of more than 150 member regulators, returns no entry for Esplanade. The Saint Vincent FSA publishes named warning notices about individual firms and has issued none about this company.
E16The domain esplanade-ms.com was registered on 15 January 2015 through NameCheap and is paid up to January 2031, and the company was incorporated on 9 February 2015. The site's own 2015 to 2024 copyright line matches both, so the advertised history is genuine rather than overstated.
E17The company's LinkedIn page lists esplanade-ms.com as its website, Financial Services as its industry, 11 to 50 employees, a 2014 founding year and specialities in Forex, CFD, RAMM and Investments. The forex specialism contradicts the disclaimer on its own site footer.
The other side
The strongest case in this broker’s favour.
The case against Esplanade is not one-sided, and the following points are real.
- It paid people. The company's own representative stated on the record that the Kazakh complainant had successfully withdrawn 10,000 dollars on 31 March 2016, and the complainant confirmed it. Other reviewers described withdrawing 200 and 250 dollars and larger sums in euros, with money arriving inside three days. A broker that simply steals deposits does not leave that trail.
- It never claimed a licence it did not hold. Its legal pages described 22514 IBC 2015 accurately, as an incorporation by the Registrar of International Business Companies. There was no invented regulator, no tier-one badge and no borrowed licence number. One review site suggests the brand impersonated a better-known company; we looked and found nothing supporting that. The branding, the domain and the entity have been its own since 2015.
- Some voided trades had a contractual basis. Its published Rules for Trading barred scalping with stops closer than 50 pips and barred news trading inside freeze windows. Other traders reading the 2018 complaint pointed out that the complainant's positions lasted under a minute. A broker enforcing a disclosed rule is not the same as a broker stealing, and we weighed it that way. It cuts less far than it first appears, because the second complainant's trades ran three to ten minutes and his account was still disabled with a balance on it.
- It engaged with complaints. A representative answered the 2016 thread publicly, and a separate complaint about an order closed before its stop loss was marked resolved on the same forum.
- No other regulator ever warned about it. The IOSCO alerts network, which aggregates the warning lists of more than 150 regulators, returns nothing for Esplanade. The Saint Vincent FSA publishes named warning notices about specific firms and has never published one about this company.
- There was no final grab. Exit scams usually end in a spike of complaints. We found none in Esplanade's last year of trading: the newest reviews anywhere are from mid-2023, the site simply stopped being updated after February 2024, and the corporate vehicles were allowed to lapse. This reads as a wind-down rather than a last sweep of client money.
Taken together, this looks less like a pure theft operation and more like an unlicensed offshore brokerage that paid small withdrawals, enforced its rules selectively against profitable clients, and sold safety it could not provide. That is still a scam risk for anyone depositing, which is why the verdict stands, but it belongs below the confirmed band.
What would change this
What we would need to see to revise the verdict.
These would move the verdict, in either direction.
- The Bulgarian Financial Supervision Commission removing Esplanade Market Solutions from its list of companies not licensed to act as an investment intermediary. That entry is the single heaviest finding, and its removal would take the verdict down toward high risk rather than likely scam.
- Evidence that the 2018 complainants were paid in full. Payment records, or an updated post from either trader confirming the 4,062 dollar balance was released, would dissolve the fund-integrity pattern.
- A liquidator, administrator or Saint Vincent court record showing client balances were returned when the companies were cancelled.
- In the other direction, a warning notice from the Saint Vincent FSA, an enforcement action or a criminal charge naming Esplanade Market Solutions or registration 22514 would push this to a confirmed verdict.
- A fresh cluster of complaints from 2024 onward, or the brand reappearing on a new domain and taking deposits again, would change this from a closed case to an active one.
- Any registration or licence record showing Esplanade Market Solutions was authorised by a financial regulator somewhere, which would contradict the central finding.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Saint Vincent FSA company register, entity name search
Type Esplanade to see registration 22514 and its Cancelled status.
Bulgarian FSC list of companies not licensed as investment intermediaries
Esplanade Market Solutions is entry 25, trading as AVIAREX.
Bulgarian FSC consumer warnings index
Where the regulator publishes the current version of that list.
Saint Vincent FSA statement on forex licensing
The FSA confirms it issues no forex licences and regulates no BC or LLC doing forex.
IOSCO international alerts network
Aggregated regulator warnings; this search returns nothing for Esplanade.
Trustpilot reviews for esplanade-ms.com
76 reviews, none in the past year.
Frequently asked questions
Quick answers about this broker’s safety.
Is Esplanade a scam?
We assess it as very likely a scam, at 78 out of 100 on our risk scale. Esplanade Market Solutions held no financial licence anywhere, Bulgaria's regulator lists it among companies with no right to provide investment services there, and several clients described profits deleted and accounts blocked after they asked to withdraw. The company is now cancelled and its website is dead.
Is Esplanade a fraud?
No court or regulator has found fraud against Esplanade Market Solutions, so we do not state that as fact. What we can state is that Bulgaria's Financial Supervision Commission lists the company as not licensed to act as an investment intermediary there, that its own pages promised fund protection it could not provide, and that traders reported balances removed after withdrawal requests. On that record we assess the risk of fraud as high.
Was Esplanade regulated?
No. It never held a licence from any financial regulator in any country. The only number it published, 22514 IBC 2015, is a Saint Vincent company registration number. The Saint Vincent FSA states on its own site that it issues no licences for forex trading or brokerage and does not regulate companies engaged in it.
What does registration number 22514 IBC 2015 actually mean?
It means a company was incorporated in Saint Vincent and the Grenadines in 2015. It is the same kind of record any shop or holding company gets, and it carries no supervision, no capital requirement and no protection for your money. The register now shows that registration as Cancelled.
Can I still withdraw money from Esplanade?
No. The website has served no page since 2024, both Saint Vincent companies are recorded as Cancelled, and the support domain no longer exists. There is no live counterparty to pay you. Your realistic routes are a card chargeback through your bank and a report to your national regulator and the police.
Was my money safe with Esplanade?
It was not. The site claimed segregated accounts, capital standards and protection comparable to bank deposit protection. An unlicensed Saint Vincent company is subject to none of those rules, publishes no accounts, and is covered by no compensation scheme. Nothing stood between your balance and the company.
Who owned Esplanade?
No owner or director was ever named on the website. A complainant publicly identified a chief executive by name and the company's representative did not dispute it, but we could not confirm that from any registry, so we do not repeat it as established. The registered agent on the Saint Vincent record is Wilfred Services Ltd.
How old was Esplanade?
About nine years of real trading. The domain was registered on 15 January 2015 and the company was incorporated on 9 February 2015, so its age is verified from primary records rather than taken from its own marketing. The site stopped being updated in February 2024.
Is Esplanade a clone of another broker?
No. We found no evidence of impersonation. It used its own name, its own domain since 2015 and its own company registration, and it never claimed a licence belonging to another firm. One review site suggests otherwise, but nothing we examined supports it.
What is Aviarex and why does it matter?
Aviarex Business LTD was a Seychelles company that phoned clients and placed trades on their Esplanade accounts. It matters because Bulgaria's regulator records AVIAREX as the trade name Esplanade Market Solutions operated under, which confirms from an official source the sales structure a client described in his 2015 contract.
Why does a Bulgarian regulator list a Saint Vincent company?
Because the selling happened in Europe. Regulators publish lists of firms soliciting their residents without permission, whatever country the paperwork sits in. The Bulgarian entry sits alongside a cluster of Sofia-based operations, and one client's deposits went to a Bulgarian bank account in Esplanade's name.
What should I check before depositing with any broker?
Search the regulator's own register for the exact licence number the broker publishes, and confirm the entity name and website on that entry match the site you are on. Check whether the licence permits dealing rather than advice only. A company registration number, a membership badge or an offshore incorporation is not a trading licence.
What we recommend
The practical takeaway from everything above.
Esplanade is no longer taking clients, so the practical advice is about money already exposed and about anyone approached in its name.
- Do not send money to anything using this name. The company is cancelled and the site is dead. Any live Esplanade-branded platform, app or account manager contacting you now is not the original business.
- If you paid by card, ask your bank about a chargeback. Time limits are strict and often run from the date you discovered the problem rather than the payment, so ask even if the deposit is old. Card and MIR payments were accepted, so some deposits may be reachable.
- Keep everything. Statements, trade history exports, the deposit confirmations, chat logs and the name your account manager used. Esplanade's own site is gone, so your records may be the only copy.
- Report it where you live, and in Bulgaria. The Bulgarian Financial Supervision Commission already lists this company, so a complaint there joins an existing file. Also report to your national financial regulator and to the police where you deposited from.
- Refuse any offer to recover your funds for a fee. One of the complaints about this broker ends with contact details for a paid recovery agent, which is the standard way victims are approached a second time. Nobody legitimate asks for payment upfront to get your money back.
- Treat crypto deposits as unrecoverable. Bitcoin and USDT TRC20 payments have no chargeback route.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 15, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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