Is iToroStocks a scam or a legit broker? Read iToroStocks Review
The iToroStocks broker is simply one of several rogue brokers that operate covertly and unchecked. This broker can be found on a variety of websites, including itoro-capital.com, itoro-capital.co, and itoro-capital.net. It claims to be a reliable brokerage firm and claims to be based at 14 New Street, London EC2M 4LX. It also makes misleading claims concerning licenses, trading systems, and conditions of exchange.
We thoroughly searched this broker to determine its license status and credentials, but we were unable to find any broker by the names of iToroCapital, iToroStocks Ltd., or iToroStocks.
The Financial Services and Markets Authority (Belgium), Financial Conduct Authority (United Kingdom), and the Central Bank of the Russian Federation placed the broker on a blacklist for providing financial services without a license. It is just alone an obvious sign that we may be dealing with fraud.
Additionally, by pretending to follow the Markets in Financial Instruments Directive, it deceives individuals. Aiming to develop and enhance openness in financial sectors within the EU, MiFID is a piece of EU legislation. The company iToroStocks is far from being honest and trustworthy.
iToroStocks is not permitted to offer services anywhere, although its deceptive claims to be licensed and regulated. Be extremely cautious if you encounter this trading fraud, and stay away from any brokers who operate illegally. Never invest money you’ve worked hard for unless you are certain it is secure.
Possible scam activities of iToroStocks
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this iToroStocks review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative iToroStocks Reviews and Complaints
iToroStocks has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
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iToroStocks Review: Conclusion
To begin with, iToroStocks is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
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Note: Report Scam Community has conducted many researches before flagging iToroStocks as a possible scam in this iToroStocks Review. Are you planning to trade with iToroStocks and invest your money? Report Scam suggests you to read this iToroStocks Review first.
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