Emarlado Review: What Traders Need to Know

Our Emarlado review introduces you to a Forex/CFD broker that claims to operate under a MISA licence. The company offers an ever-expanding range of trading instruments (160+ assets), a wide variety of market analysis tools, and quality 24/7 customer support. It all sounds appealing, but is it really? Should you trust their claims of regulation, transparency, and safety, or are we looking at yet another fraudulent project? You’ll find the answers in our investigation below.

Emarlado Snapshot

Legitimacy Check

In the website footer and in the Terms & Conditions, it is stated that Emarlado is owned and operated by StarLight Wave Ltd. The company is registered as an IBC (International Business Company) in Saint Lucia. We’ll start verifying the broker’s official data with this fact. Information about IBCs can be found in the Saint Lucia International Financial Center registry.

As we can see, the registration details for StarLight Wave Ltd are confirmed. The company has been operating since October 2023 and paid a renewal fee in 2025.

The firm also claims to operate as a broker under authorisation from one of the regulators of the Comoros Union, specifically the Mwali International Services Authority (MISA). The website even provides the licence number issued in 2023 — T2023397. Verifying its presence is also easy. It’s enough to visit the list of authorised brokers on the MISA website.

According to the registry, StarLight Wave Ltd received a licence from this regulator in October 2023 and has evidently renewed it (status — active). The link in the table even confirmed that the website under our review belongs to this company.

However, this licence does not inspire confidence:

1. On the Banque Centrale des Comores website, you can find several public statements declaring that MISA has no legal authority to issue financial licences or regulate financial institutions in the Comoros Union. Central banks and regulatory authorities in other countries, such as New Zealand’s FMA, have issued similar warnings.
2. MISA’s requirements for broker operations are extremely lenient. For example, the regulator has no restrictions on maximum leverage or mandatory participation in compensation funds.
3. Many dishonest brokers and scam projects use MISA documents to create a false impression of legitimacy. You can check the list of licences that are no longer valid on the regulator’s website to see for yourself.

Emarlado.com Content Quality

At first glance, we were disappointed with Emarlado’s official website. The design seemed dull, the thematic images didn’t match the sections they were supposed to illustrate, and the font styles were low in contrast. The only plus is the fast page loading speed, although this is most likely a feature of the chosen template.

Content quality also leaves much to be desired. For example:

• The “Markets” section. Its pages contain only a few trivial phrases about each available market. Most of the space is taken up by infoboxes describing the advantages of trading these assets with the company. Their informational value is close to zero, which suggests that their purpose is merely to artificially increase the website’s volume. The only thing justifying the presence of these pages are the tables listing assets and some trading characteristics. It’s unclear, however, why all this is duplicated on another page — “CFD List”. Apparently, the firm decided that there can never be too much useful information, even if it’s repeated multiple times.
• Description of the mobile application (page: Trading App). We didn’t download this app to our mobile device for one reason — the source does not inspire trust. It’s unclear why the broker hasn’t published it in the official App Store or Google Play Market. Although we can assume that the software does not meet the requirements of the stores, or that the company’s reputation prevents it from cooperating with them.
• Educational materials. We are used to licensed brokers offering educational content in open access, which helps attract new clients. Therefore, Emarlado’s decision to restrict visibility and grant access only to registered users surprised us. What could be so valuable and secret that the company shares only in webinars or publishes in books? We couldn’t find the answer — we didn’t find these materials in the client area either.

Secondly, the user is asked to provide an extensive package of personal data, including even a taxpayer identification number. A reasonable question arises: why does a broker, which is not a tax agent, need this information? We didn’t find an answer. And that’s not all. Then comes a questionnaire with a dozen questions, where the company tries to learn everything about your finances and trading experience. The meaning behind such detailed data collection also remains a mystery to us. After all, the regulator that Emarlado allegedly cooperates with does not require such details in any of its policies and does not even divide traders into retail and professional categories.

Although the list of payment methods looks quite impressive, in practice, only bank card transfers and cryptocurrency wallets work consistently. This raises a serious question: how does accepting crypto payments align with AML policy? To our knowledge, there have been no radical changes in blockchain technology that would allow wallet owners to be identified.

Key Trading Features

Publishing detailed trading conditions is a rare merit of Emarlado, which sets it apart from many other brokers. Key deal parameters, such as maximum leverage for different asset groups, spread sizes, Margin Call and Stop Out levels, minimum trade volume, etc., can be found on the account types page.

The same information can be found on the pages in the “Markets” section. Additionally, a separate page provides swap values for each available trading instrument. In short, the company tried to offer traders complete information.

However, not everyone will dare to trade with Emarlado:

• Minimum deposits for different account types are not specified. It is entirely possible that the amount for the account of most interest to the client will be unaffordable.
• The maximum leverage is quite high — 1:400 for currency pairs. We will repeat the obvious: the risk levels when trading with such leverage significantly exceed acceptable norms. Moreover, it is available to all clients (the company simply does not distinguish between retail and professional clients because the regulator does not require it). We’d like to see how long a beginner’s deposit would last. Another interesting observation — for exchange-traded commodities, which are significantly more volatile than stocks, the leverage is set 40 times higher (1:200 vs. 1:5). What logic guided the platform’s owners?
• Spreads are very large. For example, with most top brokers, spreads for the EUR/USD pair start from 0.6–0.8 pips for all clients. Here, on the most basic account, they are 2–4 times higher, and only VIP account holders receive an acceptable level.

Emarlado Track Record Insight

Of course, we really wanted to learn more about the broker’s history. Unfortunately, our wishes didn’t align with the company’s intentions — it didn’t feel like disclosing its founding date, stages of development, or future plans.

However, we did manage to gather some information earlier. For instance, we know it was registered in 2023. We also found out when the platform appeared online.

Domain registration data indicates that the broker has been operating online since 2023. According to the WHOIS service, the working emarlado.com domain was registered on October 17, 2023. 10 days later, the MISA licence was received, which we have already mentioned, so there are no discrepancies in the legend.

For a trustworthy broker, the time that had passed by the moment we wrote this review is clearly insufficient to build a reputation in the trading community. Nevertheless, we can confidently state only one thing — it operates under a licence, albeit offshore, and therefore at least maintains an appearance of legality.

Customer Service Overview

All contact information for Emarlado is placed on a separate page. There, the user can find:

• A contact form.
• The company’s address in Saint Lucia.
• A support email address.
• A phone number to reach company representatives — for some reason, it has a UK mobile code.

Our Verdict

In this Emarlado review, we presented another regulated broker with a licence that cannot even be taken seriously. At the same time, the trading conditions leave much to be desired, and the educational materials are treated as a special secret shared only with clients. We can’t say for sure that the company is a scam, but we wouldn’t recommend funding any accounts here.

About the author

Alex Banks

Financial Analyst

Alex Banks is a seasoned financial analyst with over 15 years of experience in the trading industry. He has worked with several top-tier investment firms, specializing in long-term investment strategies and market analysis. Alex is now known for his in-depth research and ability to identify stable and reliable brokers that offer consistent performance over extended periods.