The offshore-based FX broker INFINITRADE provides seven accounts. The leverage provided is up to 1:400. INFINITRADE works on a web-based trading terminal. Unfortunately, the INFINITRADE is unregulated and unlicensed. If traders want to secure their investments please follow this scam broker review.
The offerings of INFINITRADE are humongous. It provides plenty of FX pairs that are exotic and rare. These include over forty currency pairs viz USD/NOK, USD/SGD, USD/SEK, USD/DKK, USD/ZAR, USD/TRY, USD/HKD, USD/CZK, USD/RUB and USD/MXN. It also provides CFDs on cryptos, mining extracts, crops, shares, and ten prime indexes. The leverage available with INFINITRADE is generous and is at 1:400. The traders can generate high profit while trading with this leverage but it can also face unrepairable loss. Therefore, many regulated trading markets have fixed average leverage at 1:100. These controlled trading markets are the US, UK, Japan and many more. The spreads available at INFINITRADE is 3 pips fixed on USD/EUR pair. This is also high.
The INFINITRADE is not licensed and unregulated to participate in above mention regulated markets. The owner of INFINITRADE is A&E Products LTD situated in the Marshall Islands. The client’s payment is processed by another firm with the same name A&E Products LTD addressed in Bulgaria. Both the above-mentioned companies are not under the supervision of Financial regulation authority. These authorities are FCA, UK, and CySEC, Cyprus and there is an absence of any mention of INFINITRADE in their registry. Such unlicensed brokers are less trustworthy and lack credibility. No trader can recover its investments if they face any fraud or scam. INFINITRADE gives its clients many signup bonuses. But such bonuses are bound to many terms and conditions. To withdraw given bonus traders must achieve forty times higher trading volume. It is unlawful to provide such bonuses in controlled trading markets.
The basic account of INFINITRADE called Bronze account needs a minimum deposit of $2500. The average market minimum deposit for a basic account is around $250. So, it is evident that the required minimum deposit of INFINITRADE is ten times higher than expected. Some brokers in these controlled trading markets offer a basic account with a minimum deposit of $100. The payment and withdrawal are processed through a variety of options like credit cards, wire transfer, and e-wallets. Surprisingly, the leading payment provider brand Skrill is absent. Skrill now has adopted anti-scam policy and this might be the reason behind it. The INFINITRADE provides a web-based trading terminal. The absence of MetaTrader will make it unwanted by many traders.
Is INFINITRADE scam or legit?
INFINITRADE provides trading in unaccepted conditions. The minimum deposit, leverage, and spreads are high. Furthermore, the broker is unlicensed and not regulated by any authorities. All the above reasons are enough to mark this broker red-flagged and a potential scam broker.
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