Do you want to trade with ITGMarket FX? Is ITGMarket.net genuine or scam? Let’s read complete ITGMarket FX review to know about the platform.
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.
What is ITGMarket FX?
ITGMarket FX also known as ITGMarket.net is an offshore brokerage owned by Dev Global LLC with a lot of promises for forex traders. Here, Dev Global LLC claimed to be registered in St. Vincent and the Grenadines.
Also, the broker offered various account type such as CLASSIC, GOLD, PLATINUM AND VIP.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
See other sections
Deposit and Withdrawal
ITGMarket FX Minimum Deposit:
ITGMarket deposit is indicated $5000 according to the account type. In comparison, a licensed FX broker clearly spells out the minimum deposit to traders, and clients can start trading as low as $100 with no fear of their investment.
As for the payment methods, the broker displayed different cryptocurrencies as funding options.
Just so you know, 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!
ITGMarket withdrawal FX leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
ITGMarket FX Platform:
ITGMarket platform is not clearly specified, however, we assume the broker offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms). Many scammers have trading software to fool their victims that their money is being invested.
Why use advanced trader such as 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.
As for ITGMarket FX leverage, it can get up 1:500. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why You Should Avoid ITGMarket.net Forex Broker
First and foremost, ITGMarket.net has no financial authority overseeing its financial services. As far as we’re concerned, we discovered the broker is not worth your money because Financial Services Authority SVG does not monitor or regulate forex brokers claiming registered address with the jurisdiction.
This is a big warning for traders to avoid losing money with this broker. See excerpt from SVG
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
ITGMarket FX Licensing and Regulation
It is not far from believing that this broker 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
ITGMarket FX located at ITGMarket.net claims to be a trustworthy trading broker, however, that cannot be ascertained. From indications, the brokerage is absolute risk and we would advise clients to steer clear from this company as it 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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