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Why is Imarkets a scam?

Started by Admin, May 17, 2023, 02:29 PM

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Topic keywords [SEO] scamImarkets

Admin

This article contains the following information:
    .
    • What is known about Imarkets;
    • Undeniable arguments that Imarkets is a scam;
    • Less significant indications that Imarkets is a scam;

Comparing Imarkets to a decent firm

In this part of the material there is some information:
    .
    • What an adequate brokerage firm's platform should look like;
    • What about the Imarkets platform;
    • Comparison of a good brokerage platform with what Imarkets has;

    A good trading platform must have a user friendly interface. A well designed, intuitive user interface is a must for a brokerage site. This makes it possible for clients to easily navigate the platform, manage personal portfolios and complete trades without problems. There is nothing like that on Imarkets. By the way, we have seen a lot of different platforms and this is something we are familiar with, but at Imarkets it is difficult to navigate, in spite of the huge expiry rate.
    A good trading platform should have a wide range of investment options. A good trading floor must give a sufficient range of trading products, including stocks, bonds, ETFs, mutual funds, options, futures and other securities. This enables investors to diversify their portfolios and gain access to different categories of instruments. There are quite a huge number of currencies on the Imarkets platform, but the catch is that Imarkets scam and working with these instruments is not real, it's all virtual, like a game. Buying silver through the platform Imarkets you really do not acquire anything for the reason that Imarkets has no license and therefore is not allowed to cooperate with the world markets and therefore you essentially do not buy anything through a broker in the international market. Incidentally, the Imarkets platform not only has a terrible usability, but the platform is also quite unpleasant from an aesthetic point of view.

    Entrusting your money to Imarkets is a decision you will surely regret, as I did after all this. I have faced the sad reality that this is the worst thing that could have happened to me as a trader, and I am sure that my experience will serve others who, are considering the decision to give their personal money to this unfortunate investment firm."

    Next let's move on to a comparison of what Imarkets and the white average company gives. How should a good brokerage platform work? A good brokerage platform is an important tool for investors to access global markets and make informed investment decisions. A good platform should have both a cent and a demo account in addition to the standard one.

    Worst of all, it had a meaningful impact on me on an emotional level. Not only have I lost a significant amount due to the ineptitude of Imarkets, but the whole incident has left me feeling betrayed and deeply distrustful of the field of trading. I can't get rid of the painful thoughts of the many hours used to solve problems and compensate for financial losses caused by the fraudulent nature of this company.

    When it came to the main aspect of supporting traders, I was really pissed off. Their managers were either unresponsive or unable to address my concerns with any semblance of seriousness. I thought I was talking to a robot and my requests for help were ignored. When I needed help urgently at a time of strong market movement, I was stranded, which ultimately resulted in me losing a huge amount of money.

The most important fact that confirms that Imarkets is a scam

Of course we are referring to the lack of regulation. The regulator has a number of tasks, especially checking offices of brokers, inspecting employees, examining financials, investors and checking the solvency of the broker. But the most important task of the regulator is to prevent money laundering. Financial fraud can take many forms, such as writing off an investor's money without their permission, or misusing a trader's money in transactions they have not authorised. Shortly before the 2008-2009 crisis, major US banks did this on a massive scale. The trader can, for example, get the money back through the regulator. The regulator has its own parameters according to which they confirm the competence of the managing financial institutions, including brokerage companies. This, in turn, guarantees that real professionals are working with their investors. Imarkets has no trading authorisation, not even a licence from some fake brokerage firm.



Consequences of the cooperation with Imarkets

What happens in a situation where you or someone else ignores all the information given in this article and decides to try and collaborate with Imarkets? Let's get to the bottom of this. Let's take a review of Imarkets from the Trustpilot website:
"I am leaving this review to share my unpleasant experience with Imarkets and to warn future clients before they even consider entrusting their personal hard-earned money to this office. In my years of trading experience I have never come across a more negative brokerage company and it has left me with a bad taste in my mouth and a big drop in confidence in the industry as a whole.

What other signs and evidence are there that Imarkets are scammers?

As said above, Imarkets and its employees are no strangers to aggressive selling, insults, being remarkably clueless, using marketing tricks like promises of gigantic profits, and inflated opinions. There are no documents on the Imarkets website, not even a public offer agreement, but there should be legal papers confirming the company's license, registration documents and, optionally, some regalia. The situation in the search results is almost the same as with the opinions, they are all formulaic. The fact that Imarkets does not refund money is a common indication of fraud. Imarkets managers also like to dump bad signals, which not only make no profit, but on the contrary, all the money is lost. The criminals often dump these signals in order to earn more commission, although this is more relevant to representatives of real brokerage companies that engage in such fraudulent activities. But the very frequent crashes of the Imarkets platform are also a typical sign of a scam.

What is known about Imarkets

In brief, almost nothing. The company was registered last year. Where exactly it is registered is unknown. There is no positive information for a little more than half a year of the broker's activity. There is only negative information about the company, but first things first. We decided to try to find the information about the country where the office of the company is located but in the end we didn't find anything. Every respectable company tries to be as open and transparent as possible, to inform its clients, so that they know whom they would entrust their money to, but it is clear that the owners of Imarkets do not think so.

imperceptions of Imarkets

What do the reviews on Imarkets say? Mostly about fraud and the total incompetence of Imarkets managers. The ratio of positive to critical reviews is, of course, in favour of the critical ones. It's not all that simple with positive reviews on Imarkets either. The problem is that all of them are too artificial and have been made not so long ago and almost at the same time. All of which suggests that these favourable reviews are fake. Here's one of those reviews:
"Imarkets is a great firm! The firm has a brokerage permit. I earn 250-300% of my total capital per month and I allocate ten minutes a day for trading. I recommend Imarkets to everyone!"

A really great firm! One that can make an ordinary person a multi-millionaire in a couple of years, because an investor can get one hundred and fifty to two hundred percent a month. We think it's pretty obvious that this is a fake review.
Here's another review on Imarkets left on Reddit:
"Imarkets is the coolest broker on the market. I can't understand why the broker is not #1 in EU and States yet! The customer service is very profitable, the managers at Imarkets are very smart. I have been working with the company for almost two and a half years and everything is great".
And we are also wondering why this broker is not the best... among swindlers until now.
Note, those people, who corrected the reviews do not even understand Imarkets exists for about six months, but certainly not for several years, which allegedly this person does business with Imarkets. No evidence has been presented to prove that the Imarkets staff is "quite competent".

As we have seen, the person not only lost money and nerve cells, but also did not get any good trading experience, only disappointment in trading. If you look at the rest of the reviews, there is about the same content. The most common reasoning is that Imarkets does not withdraw money. Investors also write about the extreme incompetence of Imarkets employees. Looking at the reviews of Imarkets, we have repeatedly read evidence that in the dialog with traders the Imarkets staff uses obvious manipulations and allows themselves to be insulted. Opinions on an adequate brokerage firm should indicate otherwise, or at least things cannot be that bad. The opinions on Imarkets also clearly show that Imarkets is an outright scam.

Personal experience with the firm

The above is enough to make a correct conclusion about the real essence of Imarkets. We decided to see everything in person to be 100% sure.
We left our contact details, an Imarkets employee called us back and almost immediately began to induce us to make a very large amount of money. During the conversation, the employee of Imarkets launches a strategy of aggressive selling, some ridiculous flattery, we funded our account with the minimum amount of 25$ and decided to use the signals provided by this broker. What happened next? We lost ninety percent of the money in a couple of transactions and tried to withdraw the money, but they didn't give it to me. Once again Imarkets manager called and tried to talk me out of withdrawing money and even to transfer money to my account once again and make transactions and according to him if we did that I would get my losses back. It is unclear why the staff did not immediately refuse to reimburse the money without me still having to send the manager personal money again. It is not difficult to understand that if I had done so, the managers would still not have refunded the money, not a cent.

Also a very important feature of a normal brokerage site is good security features. Ensuring the protection of individual client information and financial resources is of paramount importance. A good investment platform must have sufficient security measures in place, such as two-step authentication, encryption and secure socket layer technology (SSL). All of these and other things are designed to give your clients strong protection against scams, account theft, or hacking into the brokerage platform with a big data leak. None of this is even close to being on Imarkets.

What else does a decent broker's platform have to have? Research tools! A brokerage platform must provide clients with access to research tools and resources. These can be financial news, analyst reports, corporate financials, technical analysis tools and more. These resources allow investors to make reasoned investment decisions and not just do whatever they want. And how can one make adequate investment decisions if all Imarkets has is a calendar? White brokers make sure that their investors have everything they need to make wise decisions, because it directly affects the overall perspective of cooperation between them.

A smart brokerage platform should be available in both mobile and desktop versions. In today's lightning-quick world, traders need to be able to access their brokerage platform on the go. This will give you the option to watch the situation change instantly and instantly sell or buy an asset if there is a good reason to do so. A good platform must have an adaptive mobile app as well as a full desktop version to meet all user desires and needs.

Initially it was obvious that the degree of skill and competence at Imarkets was clearly close to zero. Their platform was always problematic, with constant technical glitches and a user interface that could be described purely as ludicrous and illogical. This alone made the execution of operations unpleasant, but the trouble didn't end there.

Closure

You've seen it all for yourself. Imarkets is different even among scammers. The company is horrible to the point that there is no place to put a stigma on it. Reviews on Imarkets that don't resemble fake ones are filled with negativity. Users tend to write that investments are not compensated, employees are insulting, the platform is uncomfortable, glitches constantly, and there are only bad memories from interaction with the firm. If you do not want to have the same thing happen to you as to other traders, under no circumstances leave even personal information on the Imarkets website, or if you have already left it, just blacklist the phone numbers of investors and do not pay attention to them. If you do talk to the representatives of the office, there is a risk that scammers with their talents and experience of deception will be able to wrap you around their fingers and steal your hard-earned money. After all, scammers do not only offer some kind of investment, they can gain the trust of their victims by befriending them, luring them in with the promise of very high returns.