Thinking of getting into business with IBTrademarkets? Here is what you must know about this broker. Carefully read this review to find out if ibtrademarkets.com is the trading platform you will want to trade with.
Table of Contents
About IBTrademarkets Broker
IBTrademarkets is an offshore brokerage company with a lot of promises for traders. The broker’s contact shows it is from Essex, United Kingdom.
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There are different account types IBTrademarkets offers, namely Micro, Standard, Trader, VIP and PRO.
In spite the trading instruments IBTrademarkets claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
ibtrademarkets.com: Reasons to Avoid This Broker
Firstly, ibtrademarkets.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because Financial Conduct Authority, FCA, UK does not recognize this broker.
Secondly, we noticed ibtrademarkets.com has a free account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker.
More so, 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 cons for forex traders to avoid losing money with a scam broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, IBTrademarkets presents little information on the fees forex traders will be charged for any withdrawal.
Minimum Deposit
IBTrademarkets minimum deposit is said to be $100 according to the account type.
As for the payment methods, we can make payment via Credit/ Debit card, Bank Wire Transfer and more. But, you should not consider making any payment with this broker because it is a risk. So beware!
IBTrademarkets Platform
IBTrademarkets offers MT5 (Industry standard trading platform). The presence of MT5 doesn’t make this broker legit because any scam broker can do the same to lure forex traders.
As for the leverage, it can get up to 1:1000. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
IBTrademarkets 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 that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Conclusion: Is ibtrademarkets.com a Reliable Broker?
No, ibtrademarkets.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
