ePlanet Broker Case File
ePlanet entered the Iranian forex market with a high-volume advertising campaign across Instagram, Telegram, and YouTube. BrokerAlarm's review identified eight layers of concern that traders should understand before depositing any capital with this broker.
| Detail | Finding |
|---|---|
| Brand Name | ePlanet |
| Stated Regulation | Comoros (MISA) — offshore |
| Domain Ownership | Hidden (Whois private) |
| Licence Status | Found to be expired |
| Risk Level | High |
1. Abnormally High Advertising Volume — First Red Flag
ePlanet ran an unusually large advertising campaign relative to its size and track record. In BrokerAlarm's experience, disproportionate advertising spend is a recognised warning sign — it often indicates a business model that depends on rapid, high-volume client acquisition rather than sustainable, service-quality-driven growth.
Credible, well-regulated brokers build reputation through performance and transparency. Brokers that rely on advertising spectacle often have weaker fundamentals underneath.
2. Comoros Regulation: A Licence That Provides No Real Protection
ePlanet's stated regulation is through the Mwali International Services Authority (MISA) in the Comoros Islands. This type of offshore licence has the following characteristics:
- No investor compensation fund exists
- No formal international complaint mechanism is available to Iranian users
- The licence is typically obtained simply by registering a company offshore and paying a fee — with no meaningful operational oversight of day-to-day activities
This is not equivalent to FCA, ASIC, or CySEC regulation. It provides no meaningful investor protection for Iranian traders and should not be treated as a credible regulatory endorsement.
3. Suspicious Brand Ambassador Usage
ePlanet's marketing materials featured the likeness or name of a well-known public figure ("Abi") to suggest a brand partnership. BrokerAlarm's review of the individual's verified social media accounts found no public post, story, or acknowledgment of any collaboration with ePlanet.
Using the image or name of a celebrity without their public confirmation is a recognised method for creating false credibility. Credible brokers do not need to borrow unverified association with famous individuals.
4. Unknown Ownership — Hidden Whois
The domain registration for ePlanet is set to private, meaning the registrant's identity is hidden. While domain privacy is not inherently suspicious, when combined with a broker that fails to disclose its beneficial owners through any official channel, it constitutes a meaningful opacity risk.
5. Licence Document Review: Incomplete Address, Individual Named "SEMIH SALTIK"
BrokerAlarm examined ePlanet's published regulatory documentation and found:
- An incomplete registered address on the licence document
- An individual named "SEMIH SALTIK" listed, whose connection to the ePlanet brand is not publicly explained
- Inconsistency between the entity named on the licence and the trading brand
6. Expired Licence — Continued Operations Without Disclosure
BrokerAlarm found evidence that ePlanet's offshore licence had lapsed. The broker continued operating and accepting deposits without publicly informing users of this change in status. Operating after a licence expires — without disclosure — is a serious breach of transparency standards.
7. Real User Experiences: Slow Registrations, Delayed Deposits
User accounts collected by BrokerAlarm include reports of:
"Registered and made a deposit. The account wasn't activated for four days and support was slow to respond. When I asked about the delay, no clear explanation was given."
"Deposit showed as received but wasn't reflected in my trading account for 48 hours. Support said 'it's processing.' This doesn't happen with credible brokers."
High-Risk Broker — Serious Caution Required
ePlanet combines abnormally high advertising spend, offshore-only regulation that has been found to be expired, hidden ownership, suspicious use of celebrity branding, and reports of slow operational processes. The cumulative weight of these factors indicates a broker that should be approached with serious caution — or avoided entirely.
Frequently Asked Questions
ePlanet's stated regulation is through Comoros (MISA) — an offshore licence that provides no meaningful investor protection. BrokerAlarm also found evidence that this licence had expired during our investigation period.
BrokerAlarm reviewed the verified social media of the individual in question and found no public confirmation of any partnership with ePlanet. This suggests the association may be unverified or fabricated.
WM Markets is BrokerAlarm's recommended broker after real-world testing. Full details at /en/broker/.