Today, we’ll delve into the INNO Trade review, showing you why trading with offshore brokers is not recommended. Especially not those residing in Saint Vincent and the Grenadines.
Since we believe you came to trade because you want to profit and not be ripped off, our info might be valuable to you. Therefore, read carefully.
Therefore, we explored databases of the FCA, ASIC, BaFin, CONSOB, and other major authorities, but without results. Simply put, this broker has no authorization to offer Forex and CFD trading, and yet it does so.
Another proof of our claims is their leverage. According to the EU watchdog, ESMA, the leverage cannot exceed 1:30 for retail traders. The same limit applies in the UK and Australia. At the same time, INNO Trade offers up to 1:500 while shamelessly onboarding EU customers.
Don’t hesitate to reach out if you have any other proof of their illicit activities.
There are several ways to check where the broker is active. For instance, you can check where it advertises or where most reviews come from. Upon researching all this, we concluded that the majority of INNO Trade scam victims come from:
Since Spain has already issued a warning, we’re waiting for other respective regulators to do the same.
Knowing they’re stealing customers’ funds, this shouldn’t be shocking. Clients simply explained what they were going through, warning others not to fall for the same cheap tricks.
Like many other scammers, such as Trustpac, this broker disappoints when it comes to software. INNO Trade trading platform is a basic WebTrader without any special features.
While the broker advertises it as multi-asset software with advanced tools, the truth is a bit different. Besides the fact that it doesn’t require any installations, this browser-based solution has no other perks. Especially not when compared to third-party terminals, such as MT4, MT5, or cTrader.
Each of these has a large number of users due to a significant number of functionalities, including add-ons such as social trading and EAs. You can customize the software and enjoy the benefits of safe trading with a suitable level of encryption.
The offer of tradable instruments is actually quite solid. The company allows investing in the following:
Yet, all the profit you make is in danger. As an unregulated broker, INNO Trade can vanish at any time, leaving you without money.
You can get spread from 0.0 to 0.22 pips depending on the account. What’s odd, the broker claims not to charge any commissions on a raw spread account, meaning they have no profit whatsoever from your trades. If you’re wondering whether it’s logical, the answer is no. We believe this broker is preparing to steal your entire deposit and vanish.
You can choose one of the six INNO Trade account types:
The minimum deposit is relatively standard, the same sum that most scammers require. Accounts differ in spread and leverage, while no other visible perks exist.
You cannot use an INNO Trade Demo account as there isn’t one. This broker requires you to register and pay the money first, then access their WebTrader.
While this is not an uncommon practice for fraudulent brokers, it’s quite dangerous. You’re investing money blindly without knowing what to expect. That’s why we always recommend legitimate brokers with Micro accounts starting at as low as $10 and a trial account on offer.
If you check the website, you will find several payment options, including:
Assumingly, these are viable for INNO Trade withdrawal as well. However, the company doesn’t specify the minimum amount, terms, clauses, or anything of value.
According to reviews, getting a payout is nearly impossible. In fact, many had to contact the legal counselor and chargeback experts to recover their funds. Since the brokerage is not regulated, things get complicated, but not impossible.
If you’re one of the victims of the INNO Trade scam, don’t hesitate to report it. Global Fraud Protection is here to assist with this matter, as we have done with many others.
Getting your money back is a real option. You just need to react in a timely manner and submit all the relevant documents. Let us evaluate your case during a free consultation, and we’ll find a way to help. It’s not all lost!
INNO Trade is not a legitimate trading brokerage. In case you invested your money and cannot get it back, we might be able to assist you with this matter.
No, INNO Trade doesn’t have a mobile app, only a browser-based trading platform.
The minimum deposit with INNO Trade broker is $250.
INNO Trade is not a legitimate trading brokerage. In case you invested your money and cannot get it back, we might be able to assist you with this matter.
No, INNO Trade doesn’t have a mobile app, only a browser-based trading platform.
The minimum deposit with INNO Trade broker is $250.
The post INNO Trade Review – Unregulated Offshore Fraud appeared first on Global Fraud Protection.
