Rate this post

iTraders24 Review – Is the broker a scam or legit?

iTraders 24 claims to be a dependable platform that offers leveraged trading on various digital assets, including Bitcoin, Ethereum, Litecoin, and Ripple, as well as trading for forex, stocks, commodities, and indices. However, upon visiting their website, it’s clear that something is amiss. Their location information is inconsistent, they only allow Bitcoin deposits and withdrawals, and they offer exorbitant leverage for such a volatile asset class as cryptocurrency.

While iTraders 24 provides a UK address to make it appear as a trustworthy broker, they are not listed on the FCA register. The FCA is known to be one of the most stringent financial regulators in the world. Also, iTraders 24 is not present on the FSA of Seychelles register, indicating that they have failed to comply with even basic requirements and are operating without regulation or transparency.

iTraders 24 provides a web-based platform that surprisingly exceeded our expectations. In comparison to other fraudulent offerings, their software boasts of excellent charting tools and two pending order types.

iTraders 24 requires a minimum deposit of $250 to initiate a trading account. This amount is considered a higher limit compared to most reputable brokers in the current market.

Website: http://itraders24.com/

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

Warning: Comisión Nacional del Mercado de Valores (Spain)

Regulated? Unregulated

iTraders24 Review – How safe is to invest here?

Scam Helpers Team which has done a lot of work in researching for iTraders24 Review, advises investors not to invest in iTraders24, as it is suspected to be a potential scam broker. It is advised to first look at what other people are saying about the company you wish to invest in to prevent being conned by an investment scam plan.

After conducting some research on investing forums and social media platforms, we learned that many people had negative experiences with iTraders24 and left conflicting opinions about it. You should examine it before making an investment because it appears that iTraders24 is an unreliable investment company. Read a complete iTraders24 review, and you’ll see that not all things are as good as they appear. 

Risk is an integral part of every type of trading. A genuine investment provides the broker with an excellent opportunity to earn a profit if they make the right decisions. We have done profound exploration, looked at various brokers and trading conditions, and prepared a comprehensive list of scam brokers 2023 to aid your decision-making.

We include the name of iTraders24 here because it is not a legit broker. For fledgling brokers or clueless clients, iTraders24 will appear as a genuine investment opportunity for unsuspecting users and novice traders. 

We are here to expose this broker by providing this iTraders24 review and share with you the reason for presenting this iTraders24 review.

Proofs that iTraders24 is a scam

Investment scams such as Forex trading scams, Binary scams, Crypto scams, and others are hard to spot. But still there are many signs why iTraders24 is suspected as a scam broker. Let us read them, After taking a look at their website, we found numerous warnings that should be enough for you not to invest in them. Some of the reasons why we include iTraders24 as an unsafe broker.

Regulation And Safety Of Funds

Being an unregulated firm is the worst thing, and it makes you an exploitative cheat. iTraders24 is a scam, and your money is at risk.

By investing your money in an unregulated and unlicensed broker, you are indirectly putting your funds in danger. For that reason, we ask our readers to invest with brokers who have licenses from authorities like FCA, ASIC, FMA, etc. Authorized brokers are covered by many prerequisites, and a large number of them apply anti-fraud practices. As such, they are the specific inverse of what these brokers and others like them represent.

Deposit And Withdrawal Methods And Fees

There is a reason why these fraudsters, as well as many other scammers, would frequently advise you to deposit in cryptocurrency. You cannot get a chargeback on such transactions because they are entirely irreversible and all of them are recorded in a ledger that cannot be modified later. Depositing money with scam brokers is therefore, rarely a good idea. If you have already invested your money with iTraders24, you should immediately ask for a withdrawal as your money is not safe with an unregulated broker.

With iTraders24, if you ask for a withdrawal, they will postpone the process by giving some reasons for a long time so you can find no alternative to file a complaint. 

Customer iTraders24 Reviews

Scam Helpers found that iTraders24 got negative customer reviews and ratings on all other sites, and also got low trust scores among users. With this review and after reading all the negative and positive iTraders24 reviews, we found that this broker is not regulated and might be a potential scam broker. To avoid these scams, we provide a list of scam brokers 2023 on our website.  

Example – One of the negative review is  “This company is a scam. Their agents/brokers make false promises that you can earn lots of money within a short period of time. This is not true at all. I had invested a fairly big amount of money in this company four years ago and am still waiting to get my money back, not to mention the profit.”

Commitments of Ensured Benefits

Any moneymaking promises in the financial market come with a risk. Some brokers will attempt to let you know that their financier can assist you with turning ensured benefits when you utilize their platform.

If you get attracted by such brokers, there’s a chance of getting scammed by them.

How does iTraders24 Scam Work?

Scammers use many tricks in order to give you the idea that you are earning money easily and rapidly, fraudsters frequently send you some returns first. They can acquire your trust in this way. To extract as much money as they can from you, they frequently ask you to make more investments or to recruit family members and friends to do the same.

They will suspend or close your account when they believe you are unable to invest any more money in the fraud, and you won’t likely hear from them again. In order to appear trustworthy in the eyes of potential customers, many scam companies falsely state that they are headquartered in a regulated jurisdiction by using fictitious locations and regulation licenses.

How to keep yourself safe from scam brokers?

  • Do good research about the broker. Go through reviews and pick a broker with positive reviews. A conventional web search can give experiences into whether negative remarks could simply be a disappointed broker or something more serious.
  • Ensure the reviews do not contain anything negative about the broker’s withdrawal process.
  • If you are happy with your examination on a specific broker, then trade for a while first, and afterward attempt to make a withdrawal.
  • If you face some issues, discuss them with your broker. If it doesn’t go well, file a complaint and share your experience online with everyone.

Is iTraders24 broker Legit or a scam: Conclusion

It is clear from iTraders24 review that this broker is not right for trading. We unequivocally encourage all traders and investors to keep away from iTraders24 and similar brokers. If you really want to trade online, find a broker who is regulated and has trusted and positive reviews.

Scammed by iTraders24? Scam Helpers can help

If you are a victim of iTraders24 scam, or other scams like forex scam, cryptocurrency scam, binary scam, etc., file a complaint here to get your funds back. Scam Helpers can process your complaint and help you in fund recovery. We should begin and determine the matter before the harm is considerably greater. Your one step can save you and other people from being cheated by such brokers.

Also, read Fx Cycle Trader Ltd review to know about similar scams.

More about Scams

Forex Trading Scams

Facebook Scams

Investment Scams

Visit our Facebook Page

Visit our Twitter account

Read the comprehensive list of Scam brokers here