Etrans Review: Both ASIC and FSPR Licences Revoked , Is Your Money Safe?

Etrans is an Australia-based provider of international transfers and forex, founded in 2000. Two decades of operation might seem reassuring , but WikiFX assigns it a score of just 1.67 out of 10. Both of its regulatory licences have been revoked, and multiple users report being unable to withdraw funds.

Contents

01

Basic Information

02

Licence Status: Both Revoked

03

User Complaints: Withdrawal Denial and Escalating Fees

04

Final Thoughts

Basic Information

Etrans operates under E-TRANS Group Pty. Ltd., registered in Australia with offices in Melbourne, Sydney, and Burnaby, Canada. Its website at etrans.com.au offers international money transfers and forex trading, with support by phone, email, and WeChat.

Licence Status: Both Revoked

The licences WikiFX has on file for Etrans have all been revoked. The Australian Securities and Investment Commission had issued Market Making licence 439303; New Zealand's Financial Service Providers Register had issued licence 34363 for forex execution. According to WikiFX data, neither remains active.

A revoked licence means no regulator monitors client fund handling, no compensation scheme applies, and no formal complaint channel exists. For Etrans, no active regulatory protection remains.

User Complaints: Withdrawal Denial and Escalating Fees

WikiFX has received multiple complaints about Etrans, all from users in Taiwan, describing a consistent pattern: deposits accepted, withdrawals blocked behind escalating fees.

One complaint from November 2021 details a sequence over roughly a month. According to the user, after depositing US$3,000 for VIP access, they were told the account couldn't transfer and US$5,000 more was needed for a “risk release.” Each payment led to another demand: US$8,000 in confirmation fees, then another US$8,000 after an alleged bank rejection. After paying repeatedly, the platform went silent and no withdrawal was completed.

Screenshot submitted by the user with the complaint (2021-11)

Another complaint, from December 2021, describes being approached by someone posing as a securities analyst. According to the user, small profits were shown initially, but when withdrawal was attempted, customer service gave an excuse and then stopped responding.

Screenshot submitted by the user with the complaint (2021-12)

The remaining complaints follow the same arc: withdrawals approved, then blocked behind demands for confirmation deposits, guarantee fees, or risk-release charges , followed by silence.

Final Thoughts

Etrans fails the checks any trader should perform before depositing. Its WikiFX score is 1.67, both licences are revoked, and user complaints all point the same way: deposits go in, withdrawals never come out.

Before funding any broker, verify its current regulatory status on WikiFX , licences can change. Even with an apparently legitimate broker, a small test withdrawal early on can reveal whether the process actually works. The WikiFX App gives you real-time licence records, complaints, and scores so you can check a broker's standing before committing funds.