For any investor, choosing the right broker is crucial to their success in trading. Unfortunately, not all brokers are trustworthy and legitimate. Idealkind Market Ltd is one such broker that has raised suspicions among traders and reviewers in the forex industry. In this article, we will analyze the red flags for this broker.
Company Overview
| Broker Name | Idealkind Market Ltd |
| Website | https://idealkind.com/ |
| Location | United Kingdom |
| Regulation | Not regulated |
| Warnings | Multiple |
Team
At the time of writing, Idealkind Market Ltd does not provide information about its team members on its website. We tried to find their team member details from different directory websites, but no result was found.
Services and Products
Idealkind Market Ltd claims to offer forex and CFDs trading services to investors. Their website also claims to provide clients with trading materials such as eBooks and video tutorials to improve their trading skills. However, the quality of these materials is questionable, and there is no evidence of any client benefiting from them.
Trading Platform
Idealkind Market Ltd offers a user-friendly trading platform that appears to be suitable for novice traders. However, this does not mean that the platform is secure or reliable. There have been reports of traders losing their funds on Idealkind Market Ltd’s platform due to technical glitches or manipulation of prices.
License and Regulation
License Status
As previously mentioned, Idealkind Market Ltd claims to be registered in the USA and supervised by Supervisory Commission (SFC). But, there is no such regulator named Supervisory Commission. This means, their claim is false.
Regulation Status
Idealkind Market Ltd is not regulated by any reputable regulatory authority. We found regulation confirmation from any of the regulators.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.Idealkind Market Ltd
Why Should Not You Trust An Unlicensed Broker?
There are numerous reasons why you should not trust an unlicensed broker. Unlicensed brokers do not abide by the industry’s standards and regulations, which makes them prone to fraudulent activities such as price manipulation, trading against clients, and withdrawal denial. Unlicensed brokers also lack oversight, which means that clients have no recourse in the event of disputes. Additionally, unlicensed brokers may not have the necessary funds to protect their clients’ investments adequately.
Legal Warnings Against Idealkind Market Ltd
Several financial regulators have warned against Idealkind Market Ltd. The Italian financial regulator, CONSOB, has blacklisted Idealkind Market Ltd for providing unauthorized trading services in Italy. The Austrian financial regulator, FMA, has also issued a warning against the company for operating without a license in the country.
Client Feedback About Idealkind Market Ltd
About Their Trading
Traders have reported challenges with withdrawing their profits and executing trades on the platform. Moreover, many traders have reported losing their funds due to margin calls and inconsistent trading signals.
About Their Customer Service
Numerous traders have also complained about the company’s customer service. The company’s unresponsiveness to inquiries and complaints indicates that they do not prioritize their client’s satisfaction.
How Can Reviewsadvice Help You If You Get Scammed?
Reviewsadvice is a reputable forex news and analysis platform that provides information on forex and CFD brokers. You can submit your case to us. We will provide you with a free consultation and service recommendations to help you in recovering the lost fund.
Final Thought
Based on the information presented in this article, Idealkind Market Ltd is a potential scam broker. Investors should avoid trading with the company to protect their investments and avoid losing their funds. Choosing the right broker is essential for successful trading, and traders should prioritize finding reliable and trustworthy brokers that abide by the industry’s regulations.
