Inftrade is a forex broker that has been the subject of many complaints and accusations of being a scam. The company is unlicensed and unregulated, which means that there is no financial authority to protect investors who lose money trading with them.
Company Overview
Inftrade claims to be a leading forex broker with over 10 years of experience. However, the company’s website does not provide any information about its founders or management team. There is also no way to contact the company through its website, except for a live chat feature that is not always available.
Services and Products
The services and products offered by Inftrade are also not clearly explained on its website. The company claims to offer forex trading, CFD trading, and cryptocurrency trading. However, there is no information about the trading platforms or the spreads and commissions charged.
License and Regulations
Inftrade is not licensed by any financial authority. The company claims to be regulated by the Financial Conduct Authority (FCA) in the UK. However, the FCA does not list Inftrade as a regulated firm.
This lack of regulation is a major red flag. Unlicensed brokers are not subject to any oversight or regulation, which means that they can operate with impunity. They can engage in fraudulent practices, such as refusing to pay out withdrawals or manipulating prices.
Why Dealing With An Unlicensed Broker Is Risky
There are many reasons why it is risky to deal with an unlicensed broker. Here are a few of the most important ones:
- No protection from financial authorities: If you lose money trading with an unlicensed broker, you will have no recourse to financial authorities such as the FCA or the Securities and Exchange Commission (SEC).
- Increased risk of fraud: Unlicensed brokers are more likely to engage in fraudulent practices, such as refusing to pay out withdrawals or manipulating prices.
- Lack of transparency: Unlicensed brokers are not required to disclose information about their trading practices or financial condition. This makes it difficult for investors to assess the risks involved in trading with them.
Legal Warning Against Inftrade
The Financial Conduct Authority (FCA) in the UK has issued a warning against Inftrade, stating that the company is not authorized to provide financial services in the UK. The FCA has also warned investors that they should not trade with Inftrade, as there is a high risk of losing money.
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.
Client Feedback
There are many complaints about Inftrade online. Some investors have reported that the company refused to pay out their withdrawals, while others have said that they were unable to withdraw their funds at all. There have also been reports of the company’s customer service being unresponsive or unhelpful.
Feedback About Their Trading
The trading platform offered by Inftrade is not well-regulated. There have been reports of the platform crashing or freezing, which can lead to losses for traders. The spreads and commissions charged by Inftrade are also high, which can eat into profits.
Feedback About Their Customer Service
The customer service offered by Inftrade is poor. There have been reports of the company’s customer service representatives being rude or unhelpful. Investors have also reported having difficulty contacting the company’s customer service team.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Inftrade or another unlicensed broker, there are a few things you can do:
- Report the scam to the relevant authorities: This includes the FCA in the UK and the SEC in the US.
- Seek legal advice: A lawyer can help you to recover your losses and hold the scammers accountable.
- Share your story with others: This can help to warn other potential victims and prevent them from being scammed.
Reviews Advice can help you by providing professional guidance and recovery service recommendations to help you recover the lost funds.
Final Thought
Inftrade is a scam broker that should be avoided. The company is unlicensed and unregulated, which means that there is no financial authority to protect investors who lose money trading with them. There have been many complaints about Inftrade online, and the company’s trading platform and customer service are both poor. If you are considering trading with Inftrade, we advise you to reconsider. You are much more likely to lose money than to make money.
