Whenever you want to invest, the logical step is to research the broker, and we did so with Imperial Markets. The company is offshore, soliciting investors without any regulations.If you want to learn more or figure out how to recover money trapped with this broker, let’s get started with our detailed Imperial Markets review. We did a thorough evaluation of their business.
Imperial Markets surely has an attractive website, promising various bonuses and trading assistance. However, they also display lots of false information that we aim to expose.
For instance, the brand is allegedly owned by Imperial Solutions Ltd, registered in Seychelles, but licensed in the British Virgin Islands. This was an immediate red flag, but we checked the info anyways. There’s no Imperial Markets regulation with the FSA of Seychelles or the FSC of the BVI. In fact, the company is not registered with any relevant authorities, including DFSA of Dubai, where they claim to have an office, FCA, ASIC, etc.
On top, the leverage for retail traders ranges from 1:100 to 1:400. The EU and UK have a strict limit of 1:30 imposed by the EU watchdog, ESMA. In the US, the limit is 1:50, still lower than the bar set by our scammer.
All in all, your best bet is to avoid the firm. And if you were scammed, we are here to hear your story.
According to our traffic analysis of the broker’s domain, imperialmarkets.com, the majority of their victims come from the following countries:
• US,
• India,
• Canada,
• Pakistan,
• Romania.
The company purchased the domain on the 10th of August 2022 and has been soliciting investors ever since. Since we’re talking about an unregulated offshore broker similar to ThorFX, it’s best to steer clear.
Surprisingly, Imperial Markets trading platform is quite satisfying. The company offers the latest distribution of MetaTrader, MT5. It’s a software released in 2010, that has gained immense popularity ever since.
With both MT4 and MT5, you can test a number of features, including social trading and EAs. In addition, you can apply various indicators that are not available with other platforms. With over 16 million users, it’s clear why this software is the best of the best.
However, it means nothing in the hands of scammers. You can make a profit and see it in the system, but if you cannot withdraw it, you won’t succeed as a trader. This is why it’s important to work with licensed companies.
The company offers trading in four asset classes through CFDs:
• Currency pairs – EUR/USD, GBP/AUD, NOK/SEK
• Shares – Amazon, Tesla, Netflix
• Indices – AU200, BE20, FTSE100
• Commodities – gold, silver, crude oil.
It’s unclear whether crypto trading is available or it’s just a viable payment option.
The spread ranges from 2 pips on the Islamic account to 0.1 pip on the Premium one. Allegedly, none of the accounts has any trading commissions, except for the Premium account, where you have to per $10 per lot. However, this is rather odd since brokers earn from fees. If you pay none, it means they’re planning on stealing your entire deposit.
Let’s review Imperial Markets trading accounts and their benefits:
• Standard – $200
• Classic – $1,000
• Premium – 10,000
In addition, customers can open a swap-free account suitable for Sharia law followers with a minimum deposit of $1,000.
The spread lowers with each account type, while the leverage ranges from 1:100 to 1:400. As mentioned, only the Premium account has commission, while there are no other visible differences that would justify adding more money.
You can test an Imperial Markets Demo account through the MT5 terminal. It’s a great perk, especially for trading beginners. It enables you to get to know the system before investing any money.
However, scammers have their reasons for offering such an account. To access it, you have to register and provide your contact information. And once you enter the broker system, they won’t let go of you until you deposit the money.
The company gives a 50-100% deposit bonus, depending on the amount you invest. However, there’s a clause stating that you can never withdraw the bonus, and you cannot withdraw even your deposited amount while the bonus period lasts, which is 30 days.
There’s another type of bonus, called Trade Bonus 20%. It’s credited to your account every time you make a deposit. However, this amount is valid for 60 days, during which you cannot withdraw your funds.
Finally, there’s a referral bonus of $25 per each customer you bring that deposits a minimum of $200. If it resembles a Ponzi scheme, it’s because that’s exactly it. The regulators prohibited incentives to prevent scam brokers from trapping customers’ funds. Yet, Imperial Markets believes it’s above such trivial things such as regulatory obligations.
As you saw, there are many clauses preventing Imperial Markets withdrawals. If, somehow, you manage to work through all the bonuses, you can submit a payout request for one of the following methods:
• Debit/credit card,
• Wire transfer,
• Neteller,
• Crypto.
Note that you should always be vigilant when it comes to crypto transactions. They’re virtually anonymous and not subject to a chargeback. Simply said, reversing money lost in crypto scams is a bit more challenging than the money you invested via credit card.
Online trading carries lots of risks, especially the ones related to fraud. Not all brokers out there are genuine or licensed to conduct the business.
If you have any issues with your Imperial Markets account or withdrawals, contact us immediately. Global Fraud Protection chargeback experts and CipherTrace crypto analysts are at your disposal, waiting to assist.It’s not all lost. Get in touch, book a free consultation, and allow us to evaluate your case. Then, we’ll be able to navigate you through a refund process.
Imperial Markets is not a legitimate broker, but an offshore fraud. If you have already invested your money, we can help you to recover it.
Yes, Imperial Markets offers its customers a risk-free Demo account.
Since the company is unregulated and allegedly based offshore, your money is not safe with Imperial Markets.
Imperial Markets is not a legitimate broker, but an offshore fraud. If you have already invested your money, we can help you to recover it.
Yes, Imperial Markets offers its customers a risk-free Demo account.
Since the company is unregulated and allegedly based offshore, your money is not safe with Imperial Markets.
The post Imperial Markets Review: The Real Story of Imperialmarkets.com Broker appeared first on Global Fraud Protection.
