ItalianTrades – Will It Take Your Money?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
ItalianTrades - DO NOT TRADE WITH THIS PROVIDER
2.6/10
$100
Minimum Depositupdated 2021
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://www.italiantrades.com
Founded: 2021
Regulations: N/A
Languages: English, Italian
Deposit Methods: Wire Transfer, Debit/Credit Cards, Paytechno
Minimum Deposit: N/A
Free Demo Account: Yes
Number of Assets: 5
Types of Assets: Forex, Futures, Commodities, Indices, Stocks CFD
Italiantrades is a well-established broker with a strong focus on education and client service. It gives traders with long-term trading happiness by utilizing cutting-edge technology and platform improvements.
Italiantrades is dedicated to empowering and educating its ever-growing customer base via the use of cutting-edge technology. Their goal is to help clients make quick, accurate, and secure trading decisions. They provide a variety of services to help its traders improve their skills.
Continue reading this review if you can trust ItalianTrades or if it’s just another money sucking company that provides no benefits.
Trading Accounts and Conditions
Because an unregulated and virtually anonymous website does not fit into the definition of being legitimate, ItalianTrades does not bother to disclose what is the minimum deposit requirement on their platform. Mini, Standard, Gold, and VIP appear to be the four account types.
The platform reveals that the Italiantrades’ trading costs are high—a three-pip spread for EUR/USD, which is three times higher than the industry standard of around one pip. As for leverage, it’s 1:200 fixed, and clients can’t change it even if they want to do so. This means that Italiantrades puts traders into a dangerous environment as 1:200 is too risky for retail traders.
ItalianTrades – Advantages
ItalianTrades is clearly not legit and thus renders no advantages of using it. There are so many legitimate brokers out there. You really shouldn’t waste your time with this sham of a broker.
ItalianTrades – Disadvantages
Depost and Withdrawal Can’t Be Trusted
Clients may load their accounts with as much or as little money as they wish using credit/debit cards and wire transfers, and there is no minimum deposit requirement. However, when we attempted the deposit method, we discovered that Italiantrades employs Paytechno’s services in Estonia.
According to the page, the money will be collected by a firm called Lucky Winner Limited, which we have no knowledge of. In reality, entities with the same name may be located all over the world, so we still don’t know what will happen to your money.
Withdrawals and transaction fees aren’t disclosed in any way that makes sense. However, if consumers accept incentives, the situation will deteriorate significantly: following the bonus, clients must trade each dollar 20 000 times in order to be eligible for withdrawals.
We’ve previously established that Italiantrades is expensive, and the broker backs up our claim. Inactivity costs are disadvantageous; an account goes inactive after just 30 days of inactivity, and a monthly fee of $36 is levied. Too expensive, given that most licensed brokers charge $5 to $10 and wait at least 6 months before charging the fee.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
The Broker Does Not Ensure Safety of Money
Italiantrades is an offshore broker based in the Marshall Islands, a murky state regarded as a tax haven with no financial authority, let alone a regulated Forex market, according to circumstantial evidence. However, the broker in question refuses to admit it, implying that he is attempting to conceal vital information from the public—a red flag!
Anyway, our study revealed that the broker under consideration has no licensed firms affiliated with it, thus it is unlicensed, putting your cash at danger if you deposit.
Because there is no regulation, they are not held accountable by financial or other authorities for their conduct. As a result, they can immediately abuse or misappropriate your deposit—in most cases, your cash will be moved overseas, making it hard to follow them down. Furthermore, because there is no regulation, it is impossible to know who is behind the offshore broker, so if you are defrauded, the criminals will get away with it.
It’s Clearly a Scam
The fact that ItalianTrades is completely anonymous is the clearest indication that they are a fraud. There is no mention of the firm name during the presentation, and there is no corporate background whatsoever, except from an obscure New York postal address.
Not to mention the lack of a legitimate forex license, which effectively implies that ItalianTrades does not have the legal authority to provide forex services in Europe, the United Kingdom, or Australia, or on any other tightly regulated market.
Conclusion
You can’t be serious about generating money with an unregulated website like ItalianTrades, which is also practically anonymous and appears to be a fraud. ItalianTrades claims that their platform is all about profit, and that they are committed to assisting you in generating the most money possible.
Your gains from trading the markets with highly leveraged instruments such as those offered by ItalianTrades are far from assured, and any broker who attempts to persuade you that you will start making money right away is clearly trying to deceive you.
Not to add that if you use an unregulated website like ItalianTrades, you’ll have a hard time withdrawing even a single dollar since you haven’t satisfied some arbitrary minimum trade volume criteria connected to your trading bonus.
This is the situation in this scenario. According to ItalianTrades’ Terms and Conditions, “in order to withdraw your bonus + original investment, you must execute a minimum trading volume of 20 000 USD for each bonus dollar.”
ItalianTrades claims to take VISA and MasterCard payments, but they only do so through paytechno.com, a mysterious third-party payment provider. You’re obviously dealing with a con artist.
Furthermore, it was via attempting to make a payment that we discovered the website’s possible owner is a business named Lucky Winner Limited, about which we have no additional information. However, you should agree that the company’s name properly encapsulates the fraudsters’ only goal — to steal your money.
ItalianTrades
Pros
- None
Cons
- Deposit and Withdrawal Can’t Be Trusted
- The Broker Does Not Ensure Safety of Money
- It’s Clearly a Scam
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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