iModTrade Review 2024: Is it scam? Is it legit?

Is iModTrade Legit or Scam?

iModTrade is a blacklisted investment scheme, not a legitimate broker. Our investigation reveals numerous red flags, including:

• Unregulated: Operating without licenses from reputable financial authorities like FINMA or MAS.
• Disingenuous reviews: Employing fake reviews on platforms like TrustPilot.
• Deceptive marketing: Using fake awards, social media profiles, and employee profiles to appear legitimate.
• Discrepant domain age: Claiming awards predating the domain registration.
• Non-existent platform: No actual trading platform available for users.
• Unrealistic promises: Guaranteeing high daily returns with no proof of functionality.
• Unexplained costs: No information on trading fees or withdrawal terms.
• Affiliate scheme: Offering bonuses for recruiting new victims.
• One-way deposits: Only accepting deposits through ERC20 and PerfectMoney (known for facilitating scams).
• These red flags clearly indicate iModTrade is a scam designed to steal your money.

Company Overview

Services or Products

While they advertise a wide range of financial services like banking, asset management, and tokenization, there’s no evidence these services exist. They primarily focus on:

• Cryptocurrency trading: They offer limited options, including BTC, ETH, USDT, PM, LTC, and BCH.

If you have lost money to companies like Capitalix, or Fred Trading; please report it to us on our Report a Scam form.

Trading Platform & Leverages

No trading platform is available on their website. This raises serious concerns about the actual existence of any trading activity. Leverage information is also absent.

Spreads and Cost of Trading

There is no transparency regarding spreads or trading costs. This lack of information is another red flag.

License and Regulations

iModTrade is not regulated by any reputable financial authority. This absence of regulatory oversight exposes investors to significant risks.

Legal Warning Against iModTrade

Financial authorities like FINMA (Switzerland), MAS (Singapore), CONSOB (Italy), IOSCO (International Organization of Securities Commissions), and FI (Financial Intelligence Unit) have warned against iModTrade, labeling it a scam.

Deposit and Withdrawal Methods

The website mentions accepting deposits through various methods, but concrete details, including minimum deposit requirements, are missing. They offer ERC20 crypto wallet and PerfectMoney e-wallet services for withdrawals, but there are no established withdrawal policies or guarantees.

iModTrade Pros and Cons

Why Dealing With An Unlicensed Broker Is Risky

Unlicensed brokers like iModTrade operate outside the legal framework, putting your funds at significant risk. They are not subject to any regulatory oversight, meaning they can manipulate the market, steal your money, and disappear without consequence.

Client Feedback

Client reviews on their website are suspected to be fake. Cross-referencing with independent platforms reveals a lack of genuine positive feedback.

How Can “Reviewsadvice” Help You If You Get Scammed?

While “Reviewsadvice” cannot guarantee recovering lost funds, they recommend reporting the scam to authorities and seeking legal support. They also offer to connect you with professionals who specialize in chargeback and fund recovery, although the effectiveness of such services is not guaranteed.

 You Can report to us today by the below form.