Is iTraders24 a scam or legit broker? Read iTraders24 Review
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
|Date Registered||June 07, 2021|
|Domain Age||1 year, 9 months, 30 days, 22 hours, 54 minutes, 34 seconds|
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.
Scammed by iTraders24? How to get your lost money back from iTraders24?
The best solution recommended for getting your lost money back from iTraders24 is Report Scam Community
It is one of the few legit recovery assistance organizations which are actually concerned with a victim’s recovery from losses. They are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free Consultation and anyone can register by filling a very short complaint form.
iTraders24 Review: Conclusion
To begin with, iTraders24 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.
Read about a similar scam broker – Ftxwallets.xyz review
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Note: Report Scam Community has conducted many researches before flagging Traders24 as a possible scam in this iTraders24 Review.Are you planning to trade with iTraders24 and invest your money? Report Scam suggests you to read this iTraders24 Review first.Report Scam! as we have experience!