IziTrades – Is it a Safe Service?

Website URL: izitrades.com

Founded: 2020

Regulations: Unregulated

Languages: English, Vietnamese, Espanol, French, German, Turkish

Deposit Methods: Bank Transfer

Minimum Deposit: $1000

Free Demo Account: Yes

Number of Assets: N/A

Types of Assets: Forex, Stocks, Commodities

Trading Accounts and Conditions

Founded in 2020, IziTrades.com isn’t that impressive, and the website look it provides is pretty standard and unoptimized. Still, it was able to quickly display details and account information, which is the essential part of a service like this. They offer three account types, Classic, Diamond, and Limited.

Classic has its account tiers which are very strange because the remaining two don’t have anything. It has Standard, Ruby, and VIP. The Standard account type has a minimum deposit amount of $1,000, offers a leverage of up to 1:1000, has a minimum spread of 2.5, and has a standard support service. The Ruby account type has a minimum deposit of $5,000, offers leverage of up to 1:500, has a minimum spread of 2.0, and has an exceptional support service. The VIP account, on the other hand, has a minimum deposit amount of $10,000, offers leverage of up to 1:500, has a minimum spread of 1.5, and gives clients a private assistant for customer support.

The Diamond account type doesn’t offer its account tiers, but it’s mostly just the same as the Classic accounts; the numbers and services slightly differ. The Diamond account has a minimum deposit of $20,000, offers leverage of up to 1:500, has a minimum spread of 1.0, and gives users access to support services trading central. The last account type, Limited, isn’t that special, but it truly is an account type designed for those who want to invest more than an average person. The Limited account has a minimum deposit of $30,000, offers leverage of up to 1:500, has a minimum spread of 0, and gives users access to support services trading central.

IziTrades is transparent regarding their account types; however, this doesn’t matter because, according to our research, they easily qualify as a scam broker. Join us further to find out more about why this is the case.

IziTrades – Advantages

There is no clear advantage to using IziTrades because it is guaranteed that you can’t withdraw money at all. Most unlicensed and unregulated brokers like this are often doing their best to keep their clients from taking money from them, which truly means that you’ll not just waste money but also time.

IziTrades – Disadvantages

• False Regulation and License Claims

IziTrades claims that they are a broker that originates from the UK, and they backed it up by providing an address and a phone number on their website to make it even believable. However, upon a bit of research, it turns out that IziTradesisn’t a broker company from the UK. Still, it is owned by a company named IZI Trades Solution Limited, located in Vanuatu. Generally, you shouldn’t associate yourself with any offshore brokers out there since most of them are fraudulent and are just there for scamming, however. There are, however, some legitimate bunch that has managed to get requirements, but verifying them takes a lot of time, and it is a lot better to go for a broker that either resides from the EU or the US. IziTrades could have easily avoided being labeled as a scam if they could get a license to operate from the Financial Conduct Authority. That said, IziTrades faked most of the legal information on their website, which furthers our point and claims that they are a massive scam.

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• Lies About Brand Partnership

Everyone knows Lamborghini, a worldwide car manufacturer phenomenon known for their fast and stylish supercars that most people want to own. IziTrades claims on their website that they have an ongoing partnership with Lamborghini. This claim isn’t valid in any way since Lamborghini’s chances of partnering with a broker are very low; more than that, IziTrades is virtually nothing, so that they wouldn’t benefit that much from this business relationship.

IziTrades did this to attract more people and have them deposit money on their service. The Lamborghini brand is famous, and it adds credibility; however, in this case, it’s all lies, so it doesn’t matter.

• Predatory Withdrawal Conditions

It is usual for offshore brokers to offer bonuses and sign-up rewards. It is how they could convince someone to deposit on their website by giving them initiative and a head start. Little do people know that these promotions are usually very shady. Often, brokers aren’t publishing all the information about them and only provide the most basic information to encourage clients to invest more. Aside from that, they are also coupled with extreme withdrawal conditions, making these broker websites scams because they do their best to prevent their clients from getting any money from them.

IziTrades are also fully in control of the withdrawal limit, as stated on their terms and conditions. It is an upfront strategy that prevents clients from withdrawing money, even if they have performed well on their platform. Aside from that, another ridiculous thing can be found in their T&C, which states that withdrawal requests can take as much longer as the company wants, which may vary, and it could be under the company’s control or not.

• High Minimum Deposit Amount

The Standard account type, which is the most basic one from the bunch that this website offers, has a minimum deposit amount of $1000. An amount like this can already be considered a maximum deposit amount on some brokers, as legitimate ones will only ask you $5-$10. That said,IziTrades only cares about getting people into putting a lot of money into their service.

Conclusion

In summary, IziTrades is an offshore broker scam that only cares about getting as much money on their clients. They even went as far as claiming that they have a partnership with Lamborghini, which is ridiculous because a famous supercar manufacturer wouldn’t even bother partnering with a very small broker like this. Save yourself from all the hassle and look for an even better website than this because IziTrades is unregulated and unlicensed.

IziTrades

2.5

User Experience

3.3/10

Payment Options

2.4/10

Security

2.3/10

Support

2.5/10

Reputation

2.2/10

Pros

• None

Cons

• False Regulation and License Claims
• Lies About Brand Partnership
• Predatory Withdrawal Conditions
• High Minimum Deposit Amount