iPromarkets-Overview of Minimum Deposit, Leverage, Spreads
Abstract：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.
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.
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.
Market Instruments
With theiPromarkets platform, four classes of trading assets are available: Indices, Stocks, Bonds and Cryptocurrencies.
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.
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.
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.
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