Uncertain about Imarkets.in platform? Read Imarkets review to know about this forex broker and why it lacks credibility.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
Imarkets is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
What’s more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
What We Discovered about Imarkets.in Broker
Imarkets presents a registered address in the Republic of Seychelles. But this company cannot be found in the Seychelles Financial Services Authority records. We have no evidence that this legal entity actually exists.
Additionally, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These drawbacks are for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Imarkets Trading Software
Imarkets claims to offer industry platforms – MT4, MT5 and cTrader. After registration, we couldn’t even find a Webtrader of a sort or a chart, which shows that Imarkets.in cannot provide trading services.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Imarkets Account Types
Imarkets offers variety of trading account for clients. The broker also provides a leverage capped 1:500.
Imarkets deposit is indicated $200 according to the account type. In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the broker funding methods, the broker allows deposit through cryptocurrencies. There are a few reasons why scam brokers prefer to receive payments in crypto. One, transactions are irreversible and untraceable.
Another important thing, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Imarkets Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Imarkets.in is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Imarkets appears like a genuine trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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Last Updated on May 3, 2023 by Danny