In the world of online trading, there are numerous scams that prey on unsuspecting traders. One such scam broker is inetmarkets.com. The broker claims to have a user-friendly interface, low spreads, and excellent trading conditions, making it a popular choice for traders. However, in this review, we delve deeper into the broker to expose the truth about its operations.
Overview
inetmarkets.com is an online trading platform that offers its clients easy access to the financial markets. It offers trading on a range of financial instruments, including cryptocurrencies, forex, indices, and commodities. The broker’s website looks professional, with a user-friendly interface, and claims to offer competitive trading conditions.
Is Inetmarkets.com A Regulated Company?
One of the most critical factors to consider when choosing an online broker is regulation. Sadly, inetmarkets.com is not a regulated company. Therefore, there is a high risk of scamming or fraudulent activities by the broker. We did not find any information about their license. We also tried to find this information from regulatory websites and other platforms. But, we found nothing.
Warnings From Financial Regulators
The broker has attracted several warnings from reputable financial regulators across the globe. For instance, the Australian Securities and Investment Commission (ASIC) has a warning on its website, advising traders to avoid the broker. The warning arises from the broker’s unauthorized trading activities and soliciting Australian citizens to trade with them, which is against the ASIC operating guidelines.
Furthermore, the Financial Conduct Authority (FCA) in the UK, has blacklisted inetmarkets.com for offering financial services without proper authorization. Traders should avoid such unregulated brokers, as they pose a high risk of scammers taking their hard-earned money.
What Kind of Currency Pairs Do They Offer?
Inetmarkets.com offers a wide range of currency pairs for trading, including major, minor, and exotic pairs. However, the spreads for the currency pairs are high, ranging from around 3.0 pips for the most popular pairs. The high spreads can significantly reduce a trader’s potential profits, making the broker less appealing for experienced traders.
Customer Support
Their customer support is very poor. They did not reply any chat or email unless this is for investment.
Trading Method
Inetmarkets.com’s trading platform is an intuitive web-based platform. However, the platform is relatively simple and lacks many of the advanced features and tools found on other trading platforms, such as MetaTrader 4 or 5. This makes it less appealing for experienced traders who rely on technical analysis to make trading decisions.
What Do Traders Think About Inetmarkets.com?
The broker has received numerous negative reviews from traders who have fallen victim to inetmarkets.com’s fraudulent activities. The most common complaints include delayed or failed withdrawals, unauthorized trading activities, and high-pressure sales tactics. Traders should always do their research before choosing a broker to avoid falling victim to such scams.
What To Do If You Get Scammed
If you are a victim of a financial scam, you should take immediate action by reporting the incident to the appropriate authorities. You can report the scam to the regulatory authority that oversees the scam broker’s operations. It is also advisable to seek legal representation to help you recover your lost funds. Also, you should contact us to get a free consultation and service recommendations.
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Conclusion
In summary, inetmarkets.com is an unregulated online broker that poses a high risk of scamming traders. This is evident from the numerous warnings issued by financial regulators across the globe. The broker offers a limited range of financial instruments, and its trading platform lacks advanced features and tools found on other trading platforms. Therefore, traders should avoid this broker and opt for more reputable and regulated brokers, as it is the only way to safeguard their hard-earned money.
