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Why is Imarkets a scam?

Started by Admin, Jun 04, 2023, 12:57 PM

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Topic keywords [SEO] scamImarkets

Admin

This article contains the following information:
  • What is known about Imarkets;
  • Irrefutable evidence that Imarkets is a scam;
  • Further indications that Imarkets is a scam.

What is known about Imarkets

In brief, practically nothing. The company was registered last year. Where exactly it is located is unknown. There is no positive information for just over six months of the company's operation. There is only black information on the office, but first things first. Our editorial board tried to find information on the internet about the country where the company's headquarters are located, but they did not find anything. Every decent company wants to be as open and transparent as possible and inform its traders, so they know to whom they want to give their money, but it is clear that those who own Imarkets do not think so.

Entrusting your own investments to Imarkets is a decision you will surely regret, as I do at the moment. I have faced the unpleasant reality that this is the worst thing that could have happened to me as a trader, and I am sure that personal experience will serve to forum users who, are considering giving their personal funds to this disgusting brokerage company."

Even worse, it had a meaningful impact on me on an emotional level. Not only have I lost a large sum due to Imarkets' fecklessness, but the whole incident has left me with a sense of betrayal and a lasting distrust of the field of trading. I can't get rid of the bad memories of the many hours spent dealing with problems and recovering financial losses caused by this office's fecklessness.

As we have seen, the investor not only lost money and nerves but also did not get any positive trading experience, only disappointment in the investment. If you look at other reviews they have about the same content. The most common thing they write about is that Imarkets does not withdraw funds. People also write about the extreme incompetence of Imarkets managers. Reading the opinions on Imarkets, we have repeatedly read information about the fact that the company's employees use outright tricks and insults in the dialogue with traders. The reviews on an adequate brokerage company should say the opposite, or at least it cannot be that bad. In short, the reviews on Imarkets also clearly show that Imarkets is a common scam.

What else signs and proofs are there that Imarkets is a scam?

As said before, Imarkets and its representatives are no strangers to aggressive selling, insults, rampant incompetence, marketing gimmicks like guaranteed huge profits and falsified reviews. Imarkets has no legal data on its web site, not even an agreement of public offer. One should have scans of documents confirming the existence of a brokerage firm permit for brokerage activities, registration papers and, perhaps, some regalia. In search the situation is similar, as with the reviews, they are all similar to each other. The fact that Imarkets does not return investments is a common feature of a scam. Representatives of Imarkets still like to dump signals that do not work, on which not only you cannot make money, but on the contrary, all the money evaporates. Swindlers often dump these signals in order to make more profit and higher commissions and fees, although it is more relevant to representatives of real brokerage firms that use them for scam purposes. But Imarkets' excessively frequent failures are also a clear sign of a scam.

Reviews on Imarkets

What do the reviews on Imarkets say? Exclusively about the scam and general incompetence of Imarkets analysts. The ratio of favourable to unfavourable opinions is naturally in favour of the bad. It's not all that simple with positive reviews on Imarkets either. The problem is that all of the reviews are somewhat too formulaic and have been written recently and essentially at the same time. All this indicates that these good opinions are fake. Read one of these reviews:
"Imarkets is a great company! The firm has a brokerage license. I earn 50-100% of my total capital per month and I dedicate 15 minutes a day to trading. I recommend Imarkets to anyone!
A really great company! One such company that is able to make a simple trader a millionaire in a couple of years, because he will be able to earn one hundred and fifty to two hundred percent a month. We think it is already obvious that this is not a real review.
Here's another review on Imarkets taken from Reddit:
"Imarkets is the coolest broker in the world. I can't understand why the broker is not #1 in Europe and America yet! The customer service is top notch, the analysts at Imarkets are the most qualified. I have been working with the company for about four years and I am doing great."
And we also can't understand why the broker in question isn't already number one... among scammers.
Note that those people who have been peddling opinion scams aren't even aware of Imarkets themselves "working" for about six months, but certainly not the several years that this trader has been doing business with Imarkets. No facts which confirm that Imarkets staff is "quite clever" are given.

The most important fact which confirms that Imarkets is a scam

Of course we are talking about the lack of regulation. The regulator has many tasks, including inspection of brokerage offices, inspection of specialists, control of financial statements, clients and control of the company's solvency. But the most important task of the regulator is to prevent financial manipulation. Money manipulation can be different, one of the variants being the writing off of an investor's money without his authorisation, or the misuse of a client's money in transactions for which he has not given authorisation. In the couple of months before the crisis of two thousand eighth and ninth, the biggest banks in the US did this on a massive scale. Through the regulator, the trader can, for example, recover the funds. Regulators have their own rules by which they check the qualification of managers of financial structures, including brokerage companies. This, in turn, ensures that real professionals will be working with their investors. Imarkets has no regulation whatsoever, not even a brokerage permit from some fictitious government agency.

Now let's compare what Imarkets provides with a normal normal firm. How should a good brokerage platform function? A not bad trading platform is the main tool for investors to access the financial markets and make sound investment decisions. A quality platform should have both a cent and a virtual one apart from the basic one.

What should also be on the platform of a normal broker? Research tools! A brokerage platform should give clients access to research tools and resources. These can be financial news, analyst articles, broker financials, technical analysis tools and more. These tools allow investors to make informed investment decisions rather than doing the wrong thing. And how can one make adequate investment decisions if all that is present on the Imarkets platform is a calendar? White brokers make sure that their clients can make informed decisions, as this has a direct impact on the overall partnership prospects between them.
A good trading platform must have a user-friendly interface. A well-designed, subconsciously understandable user interface is essential for a brokerage platform. This makes it possible for clients to easily navigate the platform, manage their personal accounts and conduct transactions without difficulty. There is nothing like that on Imarkets' platform. Although we have seen a lot of different platforms and it is an understandable thing to us, it is difficult to navigate in spite of the great expirience on the platform.
A good trading platform should have different possibilities for investments. A good trading platform should offer a wide range of investment products, including stocks, bonds, ETFs, mutual funds, options, futures and other securities. This allows people to diversify their personal accounts and gain access to different asset categories. There are a very large number of instruments on the Imarkets platform, however the problem is that Imarkets is a scam and transactions in these assets are not really existing, it is all artificial, like a game. Buying silver through the platform Imarkets you are not really acquiring anything because Imarkets is unregulated and therefore not allowed to deal with the international markets and therefore you are not really buying anything through a brokerage company in the international market. By the way the Imarkets platform not only has a useless usability but the platform is also quite ugly from an aesthetic point of view.

Comparing Imarkets to a decent company

In this snippet of the article there is this information:
  • What a normal brokerage firm's platform should look like;
  • What about the Imarkets site;
  • A comparison of a normal investor platform with what Imarkets has;

Initially it was clear that the level of professionalism and competence at Imarkets was clearly close to zero. Their platform was constantly unreliable, with regular technical problems and a user interface that can be labelled purely as clueless and incomprehensible. This alone made the execution of operations frustrating, but the problems did not end there.

Personal experience with the firm

The facts stated before are enough to make the only true conclusion about the essence of Imarkets. We decided to double-check everything to be 100% sure.
We registered, Imarkets representative called us back and immediately started offering to deposit a large amount to the account. During the dialog, the manager of Imarkets started to use the strategy of aggressive selling, some ridiculous flattery, we funded our account for the minimum amount of 25$ and tried to use the tips posted by this broker. What happened next? We lost almost all amount of money in few trades and decided to return the money, but it was not transferred to us. A representative of Imarkets called again and tried to talk us out of withdrawing the money and vice versa to transfer the money back to the account and open trades and according to him if I had done so I would have been refunded. It is unclear why they did not immediately refuse to refund the money without me additionally giving the broker my personal money. It is clear that had I done so, the managers would not have withdrawn the money anyway, not a cent.

In addition, an extremely important parameter of a good trading platform is good security features. Ensuring the security of personal information and client funds is crucial. A reliable brokerage platform must have robust security methods, such as two-step authentication, encryption and secure socket layer (SSL) methodology. All of these and other things are designed to strongly protect customers from scams, stolen investments from their accounts, or the hacking of the brokerage site itself with a large information leak. None of this is even close to happening on the Imarkets platform.

Consequences of partnering with Imarkets

What happens if you or anyone else spits on all the information in this article and decides to try to partner with Imarkets? Let's find out. Let's take a review of Imarkets from the Trustpilot website:
"I am leaving this review to share my painful experience with Imarkets and to warn possible clients before they even consider entrusting their hard-earned cash to this company. In my years as a trader I have never dealt with a worse brokerage firm and it has given me a nasty taste in my mouth and a big reduction in confidence in the industry as a whole.

A quality brokerage platform should be available in both mobile and desktop versions. In today's lightning-changing world, traders need to be able to access their brokerage platform on the go. By the way, you can follow the rapidly changing situation and quickly sell or buy an instrument for good reason. A normal site is bound to have an adaptive mobile app, as well as a fully functional desktop version, to cater for all customer wants and needs.

When it came to the basic aspect of supporting investors, I got very angry. Their staff were either unresponsive or unable to address my difficulties with any semblance of professionalism. I thought I was dealing with a robot and my requests for help went ignored. At the time I urgently needed support at a time of a sharp market movement, I found myself in a difficult position, and this eventually resulted in me losing a significant amount of money.

Total

You've seen it all. Imarkets stands out even among the scams. The company is toxic to the point that there is nowhere to put a stigma on it. Reviews on Imarkets that don't appear to be fake are brimming with negativity. The victims are usually shouting about the fact that the money is not refunded, the representatives are rude, the platform is uncomfortable, constantly hangs up, trading with the company leaves only negative memories. If you do not want you to suffer the same fate as the other traders, under no circumstances leave even personal data on the Imarkets website, or if you have already left it, you should immediately block the numbers of employees and do not react to them. If you do discuss anything with the managers, there is a risk that scammers with their skills and experience of trickery will be able to wrap you around their fingers and steal your hard-earned money. Because they don't just offer investment solutions, they can gain the trust of their victims by befriending them and enticing them with the promise of higher profits.