Table of Content
InetMarkets Review – All About InetMarkets.Com Broker
Table of Content
InetMarkets Review, everything looks clean and professional with this broker. Very deeply in T&Cs is hidden their official owner Orora Tech Limited. Yet, this company doesn’t reveal its country’s origins. However, they state that the website is under Saint Vincent and Grenadines’ jurisdiction.
This country is known as a hub for scammers. We will present you with all the crucial information in this InetMarkets review. So that you can make an informed decision if you should invest here or not.
|Headquarters||St. Vincent and Grenadines (allegedly)|
|Review Rating||2.8 average on Trustpilot|
|Platforms||Web-based trading platform|
|Spread||From 2 pips|
Is InetMarkets Broker Safe for Your Money? Regulation
As mentioned, SVG doesn’t regulate trading companies. Therefore, the InetMarkets broker should opt for other licenses. Primarily in the countries where they operate. Since offshore regulations are often loose, we don’t rely on those. Because we have seen so many brokers scamming traders even with those regulations.
However, if they have a Tier 1 license from FCA, BaFin, or ASIC that is a different story. But don’t raise your hope, because in their register there are no traces of InetMarkets scam broker. If we disregard regulation, they still don’t have any fund protection measures. Starting with guaranteed stop loss and compensation funds to negative balance protection.
To get even worse, there are multiple warnings issued against this broker. Primarily from the Financial Conduct Authority (FCA- UK) and Financial Services and Markets Authority (FSMA-Belgium).
What Trading Platforms Are Available?
Another key point of the InetMarkets broker scam is their trading platform. It’s the core of this investment scam. Primarily, because it’s a proprietary web trader. It consists only of basic trading tools and indicators. Not to mention only a few charting options. But the main downside comes from the fact that the broker can manipulate information.
The broker uses information on the platform to falsely put pressure on clients. For example, they will show you extremely big profits for short time. Based on that, they pitch you for more money. Same works on the opposite side. Once you start losing, they pitch you for more money not to lose everything.
This is what professional traders realize at first glance. Therefore, you should look for a trusted platform like Meta Trader and cTrader. Of course, with a licensed broker. Because that way your funds are protected and you can get the profits out. On the contrary, some brokers have MT4 for instance, but no license. Consequently, traders realize that the platform doesn’t guarantee legitimacy.
What Account Types are Offered at InetMarkets?
Another suspicious thing about this scam broker is their minimum deposit. There is none actually. The broker doesn’t have any standardized offer for traders. The main reason behind it is to remain mysterious. They lure their traders through false advertisements about getting rich schemes. Once customers leave their phone numbers, the journey begins.
They are often persuaded straightforwardly to deposit as much as possible. If not in the first contact then very shortly afterward. Since they don’t have live accounts, we can’t expect them to provide a demo account either. Not to mention the Islamic account.
Based on InetMarkets broker reviews we can see that trading accounts are not relevant. This broker tends to steal as much as possible.
Trading Instruments Overview
If the broker is not reliable there is not even a point to have 1000 assets. Yet, offshore scam brokers try to make traders believe in their legitimacy this way. Nevertheless, their trading portfolio spreads across 5 fields. Those are:
- Forex – CAD/USD, AUD/NZD, EUR/HKD
- Commodities – natural gas, crude oil, palladium
- Indices – DAX 30, CAC 40, FTSE 100
- Shares – American Airlines, Johnson & Johnson, Master Card
- Cryptocurrencies – BTC, BNB, LTC
Trading conditions are not so attractive. Leveraging above the allowed limit is a concerning fact. They allow 1:100, while the maximum regulated is 1:30. On the other hand, spreads from 2.5 pips are way above the average.
Generally speaking, everything is mysterious about this broker. Especially costs of service. Where the broker doesn’t even reveal any trading or non-trading fees.
Funding Method at InetMarkets
Depositing and withdrawing methods are the same. And according to the AML policy, you can only request a withdrawal through the method that you did use for a deposit.
From funding options, InterMarkets scam broker accepts:
- Debit/credit cards
- Bank/Wire transfers
- Cryptocurrency transfers
The safest option is always a debit/credit card. Those transactions are reversible and you can get a chargeback. On the contrary, cryptocurrencies are the most dangerous ones. They are very hardly traceable and encrypted.
Since the broker doesn’t have a clear withdrawal/deposit policy we don’t know if they have any fees. Instead of risking everything with this scam broker, you better look for a licensed one on time.
How Do I Get My Money Back if I’ve Been Scammed by InetMarkets?
Don’t be ashamed if these guys did trick you. It could happen to anyone. But you can share your experience with them here. But before they vanish, it’s better to take your future into your hands. You can start your chargeback process already today.
But even if you were sending cryptos, there is a solution. Our specialized fund recovery team can trace cryptos through CipherTrace software. Don’t let these swindlers get away with your money. That’s your hard-earned money.
Our team can advise you on the first steps of the chargeback process already today. Book your free consultation now!
- Unregulated offshore broker.
- Non-transparent trading conditions.
- Untrusted trading platform.
- Numerous negative reviews.
FAQs About InetMarkets Broker
Is InetMarkets a Scam Broker and Why?
Yes. They are not licensed, hiding crucial information and reviews confirm that it’s a scam.
What Is the Minimum Deposit for InetMarkets Broker?
The minimum deposit requirement is unknown here. They don’t provide information about account types.
How Long Do InetMarkets Withdrawals Take?
They haven’t disclosed withdrawal policies. Based on reviews we can say that withdrawals never happen.