In the fast-paced world of online trading, it is imperative to partner with reliable and reputable brokers to avoid falling prey to scam sites. One such site that has raised a lot of concerns in the trading community is Inetmarkets.com. In this review, we will examine this platform and determine whether it is a scam or legit.
Overview:
Inetmarkets.com is a forex and CFD (Contract for Difference) trading platform that claims to offer a variety of trading services ranging from currency pairs, commodities, and indices. The platform was created in 2016, and since then, it has attracted users from different parts of the world.
Is Inetmarkets.com Regulated?
One of the significant red flags regarding the platform is that it is not regulated. Typically, reputable brokers should be regulated by either CySEC or FCA, among others. The lack of regulation means that the platform is not accountable to any financial authority, and traders are not protected.
Warnings from Financial Regulators:
The fact that the platform is not regulated has prompted several financial regulators to warn investors about the risks of using Inetmarkets.com. The Securities and Exchange Commission of Belize (IFSC) has issued a warning to investors against using Inetmarkets.com, stating that it is not licensed or authorized to offer trading services.
What Currency Pairs Do They Offer?
Inetmarkets.com claims to offer a wide range of currency pairs for traders to choose from. However, upon examination, it is evident that their offerings are limited, and they do not offer some of the major currency pairs such as USD/EUR. This limitation means that traders may not have access to all the necessary trading instruments they need to maintain a diversified portfolio.
Customer Support:
One of the hallmarks of a reputable broker is the quality of customer support they offer. Unfortunately, Inetmarkets.com’s customer service is not up to par. Their contact details are limited to email and phone, and their response time is below average. In some instances, traders have reported waiting for days to get a response from customer support.
Trading Platform:
Inetmarkets.com offers a web-based trading platform that has limited functionalities and features. Their platform is outdated and lacks some of the essential trading tools such as charting and technical analysis. The platform also has several glitches and freezes, which disrupt the trading experience.
What Do Traders Think About Inetmarkets.com?
Several traders who have invested in Inetmarkets.com have expressed dissatisfaction with the platform. Most of the negative reviews are due to the lack of regulation, poor customer service, and hidden fees, among others. Some traders have claimed that they were not able to withdraw their funds from the platform, which is a red flag for any broker.
What To Do If You Get Scammed?
If you fall prey to Inetmarkets.com or any other scam platform, it is vital to take action immediately. The first step is to document all your interactions with the platform, including emails, account statements, and any other evidence that can support your claim.
Then you can submit the report to us. We will evaluate your case and provide you with a free consultation and service recommendations to help you in recovering the lost fund.
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Final Thoughts:
Based on the evidence presented in this review, it is evident that Inetmarkets.com is a scam platform. The lack of regulation, poor customer service, limited trading instruments, and negative reviews from traders are some of the red flags that indicate that the platform is not reliable.
As a trader, it is imperative to do your due diligence and ensure that you partner with reputable brokers who are regulated and offer quality services. Remember, trading carries a significant risk, and choosing the wrong broker can result in significant financial losses.
