Does this broker’s website look suspicious and vague to you? It sure does to us, hence why we decided to cover this trading platform in the ITGSolution Review.
We have analyzed this dubious broker’s legal background, platform, conditions, areas of activity and funding methods. Let’s start with the most important facts – the trading license or lack thereof.
Based on the available info on the website, ITGSolution is an offshore broker that couldn’t decide in which domain the business is based.
The company behind ITGSolution is Dev Globle LLC, registered with the Mwali International Services Authority (MISA) from the Comoro Islands. The website also says that this company is registered in SVG with the Financial Services Authority (FSA).
However, the latter isn’t true, we checked the FSA’s website. Even if it were true, the FSA doesn’t regulate Forex trading and this obscure MISA regulator isn’t reliable either.
ITGSolution’s regulation is terrible. Both domains in which the unscrupulous broker claims to operate are offshore. This trading scam is similar to SVG’s INNO Trade.
Our advice is that you find a reliable broker that’s regulated by a Tier 1 financial market authority such as the European Securities and Markets Authority (ESMA), the FCA, ASIC, CFTC, CNMV, etc.
ITGSolution is an offshore trading scam based in Saint Vincent and the Grenadines. This broker has been active since January 2023 and has mainly targeted traders from Spain, Norway, and Finland.
The warning was issued on April 10, 2023. ITGSolution tried to slip past regulatory rules and provide illicit services to unsuspecting traders.
By now, you ought to have figured out where ITGSolution trespassed. Here’s a list of three countries where this broker left its fraudulent traces:
The regulators of all three countries abide by ESMA’s regulatory rules, the ones with which ITGSolution is not compliant. The Spanish CNMV is the only authority to issue a warning against the broker.
According to ITGSolution’s website, the trading platform that this broker offers is essentially a browser-based trading terminal or simply WebTrader.
WebTrader is usually an oversimplified and ineffective trading platform. It lacks advanced features such as automated trading.
To make matters worse, the broker is unregulated. ITGSolution doesn’t support proper third-party software such as MT4, MT5, or cTrader.
When it comes to different trading instruments, ITGSolution offers currency pairs and CFDs on popular assets:
ITGSolution outlined the spreads and trading costs pretty clearly. For FX pairs, the spread starts as low as 0.8 pips for EUR/USD.
The same ratio applies for all crypto assets – 0.8%. All in all, the trading costs seem favorable, provided there aren’t any hidden fees. But that still doesn’t compensate for the lack of a trading license.
Here’s an overview of ITGSolution’s different trading account types:
ITGSolution basically requires you to pay 5,000 EUR just to start trading but cannot provide a valid trading license. That’s absurd.
The Gold and Platinum account types offer a 15% price discount while the VIP account offers leverage up to 1:500. This broker, just like Costa Markets, offers high leverage for crypto trading – up to 1:10, which is extremely risky in such a volatile market.
No, because there is none. Unlike legit brokers, ITGSolution doesn’t offer a free demo account. The financial swindler wouldn’t let us see the trading platform unless we registered a live account.
Of course, we didn’t plan on doing it since the broker is an unlicensed scammer. And you shouldn’t either.
It seems that ITGSolution’s withdrawal policy is missing. We didn’t find any info about deposit and withdrawal methods and fees in the Terms and Conditions.
In the FAQ section, ITGSolution simply listed credit/debit cards as the only available payment method. Visa and MasterCard are options.
Shady but at least this payment method allows for a chargeback to be requested at the issuing bank within 540 days.
If ITGSolution violated any terms and conditions and you have the necessary evidence, please share it with us. We will gladly report the scammer to the authorities for you.
As for your lost money, Global Fraud Protection can assist you with the chargeback process. As mentioned, a chargeback has to be requested at the issuing bank within 540 days.
If this broker steals your money, start the chargeback process. Unsure what to do? Book a free consultation with our team and find out!
No. ITGSolution is an unregulated offshore scam broker. This entity has been blacklisted by the Spanish CNMV. Do not invest!
No. ITGSolution isn’t a legitimate broker and doesn’t offer a free demo account for practice.
No. ITGSolution’s trading platform is web-based so it doesn’t require a mobile trading app.
No. ITGSolution’s trading platform is a rudimental WebTrader without any advanced features and tools. Plus, the broker is unregulated.
No. ITGSolution is an unregulated offshore scam broker. This entity has been blacklisted by the Spanish CNMV. Do not invest!
No. ITGSolution isn’t a legitimate broker and doesn’t offer a free demo account for practice.
No. ITGSolution’s trading platform is web-based so it doesn’t require a mobile trading app.
No. ITGSolution’s trading platform is a rudimental WebTrader without any advanced features and tools. Plus, the broker is unregulated.
The post ITGSolution Review – Exposing This Fraud In Our ITGSolution Review appeared first on Global Fraud Protection.
