Is iTraders24 a scam or legit broker? Read iTraders24 Review

About iTraders24

 Website – http://itraders24.com/

 Address – 150 Minories, London EC3N 1LS, United Kingdom

 Warned By – Comisión Nacional del Mercado de Valores (Spain)

Domain Age Information of iTraders24

The main reson why iTraders24 is a possible scam broker is that the broker has got many Complaints and negative iTraders24 reviews and other possible scam features can also be the reason. Your funds may not be safe if you are trading with this broker.

Despite iTraders24 attempts to look legit and trustworthy, we can’t disregard the alerts that iTraders24 giving us. There are many brokers like it, and we can quickly recognize the kind of specialist we were dealing with by stepping into the site. We also reviewed comparative-looking broker sites in our scam brokers 2023 list, the vast majority of them are unlicensed and obscure. Find more about the scam broker in our review list.

Understanding the Importance of Regulation in Brokerage Services 

It is crucial to comprehend the significance of regulation in the world of brokerage services. A reputable broker is required to possess a license from a regulatory entity, which includes a compensation fund for the reimbursement of clients in case of any issues. Membership to entities such as ESMA or MiFID ensures that your broker keeps your funds in segregated bank accounts and refrains from using them for day-to-day expenses.

Unfortunately, iTraders24 claims to be associated with iTraders Ltd from the UK, yet it lacks an FCA license. Additionally, the company owner is AntariLLA Management Ltd from Seychelles, indicating that it is another fraudulent offshore firm. In light of this, it is evident that you should avoid investing with this company.

Unregulated and non-UK based, it’s unsurprising that there are frequent issues with withdrawals from this company. Although deposits are accepted with open arms, the same cannot be said for payouts. Companies like iTrader24 have a single objective in mind: to acquire as much money as they can before vanishing without a trace.

Possible scam activities of iTraders24

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 iTraders24 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 iTraders24 Reviews and Complaints

iTraders24 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.

Example of Negative iTraders24 Review

After Searching internet you will find many negative iTraders24 Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and iTraders24 reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.