Score

1.49 /10
Danger

iPromarkets

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

C

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Comparison

Quantity 5

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index6.87

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
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Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

ES CNMV
2024-08-05

Broker Information

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Company Name

Paxton Trade Limited

Company Abbreviation

iPromarkets

Platform registered country and region

Cyprus

Company website

Company summary

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 2
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 5 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

Pyramid scheme complaint
Expose
iPromarkets · Company summary
basic-info

General Information

Established in 2020, iPromarkets is an online forex broker registered in Cyprus, offering trading services on a series of trading instruments, such as Stocks, Commodities, Indices, Bonds. With the iPromarkets platform, three trading accounts are available, as well as a demo account.

iPromarkets claims that it is a registered brand of Trinity Capital LLC, and is licensed by Finnancial Services Authorities of St Vincent and the Grenadines with authorization number 450 LLC 2022.

Is iPromarkets safe to trade with?

When it comes to regulation, iPromarkets obviously disappoints us. It has been verified that this broker is not authorized or regulated by any regulatory authorities, and thats why its regulatory status is marked as “No License” and it got a very low score of 1.36/10 on the WikiFX website.

Trading with an unregulated forex broker is a surefire way to lose your money. Before you decide which forex broker to use, come to check out its regulatory information on WikiFX.

wikifx

Negative Reviews

Some traders shared their terrible trading experience with iPromarkets, and complaint that iPromarkets is totally a cam, eating their deposited funds, rejecting their withdrawal requests.

So, checking out reviews left by real traders is a good idea for traders to judge a forex broker from a fuller picture.

For more detailed customer reviews, please come to WikiFX.

negative-reviews

Market Instruments

With theiPromarkets platform, four classes of trading assets are available: Indices, Stocks, Bonds and Cryptocurrencies.

Instruments

Account Types

Aside from demo accounts, three live trading accounts are available on the iPromarkets platform, namely Standard, VIP, Platinum accounts.

The minimum initial deposit required by each account seems quite high compared to its peers requirements. To open a Standard account, the most basic one, you need to fund at least $3000, too much for regular traders to afford.

The VIP and Platinum accounts asks for more, from $10,000, and $25,000 respectively.

account-types

Leverage

No trading leverage information is mentioned. Since leverage can magnify gains as well as losses, it is important for traders to choose the proper amount that they feel most at ease.

Spreads & Commissions

Weirdly, iPromarkets does not disclose its spreads and commissions charged.

Trading Platform

When it comes to trading platform, iPromarkets provides its clients access to the leading MT4 trading platform that can be accessed on Web, Desktop and Mobile devices.

MT4 is among the most popular trading platform around the world, featuring powerful charting tools, multiple technical indicators, and more.

Some features and functionalities of the MT4 trading platform include:

  • Easy Access

  • Intuitive interface

  • Technical Analysis

  • Fully Configurable

  • EA supported

Deposit & Withdrawal

The homepage of IPromarkets official website displays logos of some payment processors, including VISA, MasterCard, Airtel Monet, MTN, Tigo Pesa. We have no idea if these payment options can be truly worked.

deposit- withdrawal

Customer Support

Traders with any inquiries or trading-related issues can reach out to this broker through telephone and email. Here are contact details:

Telephone:+357 25 262652 (English), +61 870 783 607 (English), +420 704 917 479 (Vietnamese)

Email: support@ipromarkets.com

Whatsapp: 420 704 917 479

Risk Warning

Forex and CFD are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when forex and CFD trading with this provider. You should consider whether you can afford to take the high risk of losing your money.

Please note that the information presented in this article is intended solely for reference.

User Reviews

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User comment

3

Comments

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空。格
more than one year
Their demo account experience was quite good. The trading platform was easy to use, and I had a good feel for the market while using it. I was able to execute trades without any issues and had no problems with the platform's stability. As a result, I am considering opening a live account with them. However, I cannot speak to the quality of their live trading environment and execution of trades. I will share it later.
Their demo account experience was quite good. The trading platform was easy to use, and I had a good feel for the market while using it. I was able to execute trades without any issues and had no problems with the platform's stability. As a result, I am considering opening a live account with them. However, I cannot speak to the quality of their live trading environment and execution of trades. I will share it later.
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2023-03-22 12:04
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FX1297282991
more than one year
Don't listen to all these people that say that this company is a scam. Their customer services are super helpful and they will chat windows and everything seems to work great. There are just too many haters drinking iPromarkets.
Don't listen to all these people that say that this company is a scam. Their customer services are super helpful and they will chat windows and everything seems to work great. There are just too many haters drinking iPromarkets.
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2023-03-03 14:03
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5