Our Interactive Stocks review gets to the bottom of the regulation issues these firms carry. We will also answer your questions about the safety of investing here.
Ever since SVGFSA has wholly stopped licensing and supervising SVG brokers, it became a universal rule to treat any firm from there with caution. At best, they should all be avoided. Interactive Stocks is, without a doubt, also another SVG broker without a valid license.
Since they couldn’t have been authorized by SVGFSA, we ran a scan of some other databases. Surely, if the broker was providing their services in EEA, UK, US or Canada they’d be licensed by at least one Tier 1 regulator. So we went on investigating the Interactive Stocks regulation. To no one’s surprise, Interactive Stocks didn’t appear in the registers run by CySEC, BaFin, FCA, NFA and ASIC.
Not being licensed by any of the world’s leading bodies means Interactive Stocks is breaking some of the crucial laws of Forex trading. For one, this broker doesn’t provide segregation of clients’ deposits, which means no separate bank accounts. Interactive Stocks can manipulate and misuse their clients’ funds as they please.
Furthermore, this site presents their own trading conditions which do not abide by the rules of leverage limitation and negative balance insurance. That further implies your exposure to risk of loss is drastically increased.
Investing with Interactive Stocks is like throwing your money away as you don’t know who you’re dealing with and under what conditions. We have nothing else to tell you except not to choose this broker under any circumstances and whatever they may offer.
The single place on the entire website where regulation is even remotely mentioned are Terms and Conditions doc. Here, Interactive Stocks claims their operations are heavily dependent on the MiFID II set of regulatory rules.
ESMA is an independent EEA regulator that enforces MiFID to better the safety, transparency and AML methods. However, nothing Interactive Stocks practices proves their conduct indeed is in accordance with this framework. Wherever the broker is offering their services, they should have the jurisdictional regulators permit. Interactive Stocks doesn’t own a single license.
Interactive Stocks covers a pretty wide area of service. It seems they do not filter their next potential victims by any criteria. They’re just trying to reach as many traders as possible. From the gathered intel we can confidently claim Interactive Stocks picks victims from the following countries:
Described as intuitive and highly comprehensive, the trading platform at Interactive Stocks should be every trader’s dream come true. We were suspicious of these claims so we made a fair attempt at checking their truthfulness.
After making an account, though, the web trader kept failing to load. The introducing screen kept loading forever. In the end, we didn’t even get to see, let alone test this alleged miracle of a trader. At that point we were sure Interactive Stocks didn’t even provide a functional platform to start with.
Making their victims believe the fake claims is easier when Interactive Stocks has a bunch of friendly agents working on that. Stalking the social networks like Facebook, Twitter and others is their perpetual activity. Dating apps are also included. That’s how they acquire new targets they later delude into investing. Beginners are especially vulnerable without enough knowledge on the trading moves and platforms.
The vicious circle doesn’t go on forever. Sooner or later the victim will realize their investments were for naught. It usually happens when they request a withdrawal, several months later. The illusion falls apart and all the investor is left with is a bunch of useless tokens, accumulated fees and unpayable charges. The initial deposit is gone, along with any of the virtual profit made.
Even if you were to believe Interactive Stocks’ credibility and attempt trading, you wouldn’t be amazed by their offer of trading instruments. Only the basic groups of tradable assets are allowed and we couldn’t even figure out the basic conditions. These are the products:
Web trader being inaccessible, we couldn’t verify if the website does provide the promised spreads. The beginning spreads on EUR/USD at Interactive Stocks are 2.6 pips. This is pricier than the industry standard. The cost of trading is how the brokers earn. Some may provide tighter spreads and higher deposit requirements and vice versa. Interactive Stocks is unlicensed, they may say one thing and then demand another.
While Interactive Stocks promises a different set of perks and specifics per account, they do not disclose them. Neither do they let traders know what the deposit requirements are per package. The initial account types at Interactive Stocks are:
The client area suggests the lowest deposit accepted is $250, which we assume is the price of the Bronze account. INNO Trade is one of the fake brokers that asks for this same deposit by default.
Account type you initially create with Interactive Stocks is the live trading account. There’s no option to open a Demo account with a free margain you can use for test-trading. Even if this option was available, it wouldn’t be a display of realistic trading conditions. The environment is purely artificial. In truth, it serves as another bait for investments.
Interactive Stocks withdrawal is as messed up as all their other services. Because we found no legal policy detailing this process, we referred to the Terms and Conditions. Here we found the processing time to be limited to 5 business days. All the client supposedly has to do is submit the request on the website.
However, the frightening circumstance to every withdrawal are the conditions Interactive Stocks imposes. The client has to go through a verification process and provide the necessary documents (colorized photo of their ID, passport, driving license, and whatnot). If they do not, the firm reserves the right to deny the request.
Interactive Stocks will always find a reason to prevent payouts and your money will be stuck with them for good. There’s also a trading volume requirement for withdrawal of bonuses. It says that you have to execute 1 traded Lot per5$ out of the bonus. This is just crazy!
Recovering your stolen money on your own is a difficult endeavor, if not fruitless. That’s why our team diligently works on helping the defrauded and scammed. You can contact us anytime by our Online Chat and ask for free advice.
Suspicious companies have eyes everywhere. If you happen to recognize one, report them to the authorities. React as soon as possible, as it is a matter of fast action that could save your entire investment. Besides, you could give your own contribution to fighting Forex trading scams. Share with us your own experience, information or advice and we will use it to detect new schemes and bring them down easier!
Interactive Stocks is an anonymous brokerage service from SVG owned by a company known for running scam broker domains. They have no authorization to offer their services and products, therefore, they’re not safe for investing in.
Demo account is not available for opening. The only account type accepted is the live trading account and there’s several sorts of them.
No, the broker doesn’t have a proprietary trading app developed for trading on mobile devices.
Interactive Stocks is an anonymous brokerage service from SVG owned by a company known for running scam broker domains. They have no authorization to offer their services and products, therefore, they’re not safe for investing in.
Demo account is not available for opening. The only account type accepted is the live trading account and there’s several sorts of them.
No, the broker doesn’t have a proprietary trading app developed for trading on mobile devices.
The post Who Is Behind Interactivestocks.Com? A Detailed Review appeared first on Global Fraud Protection.
