IFI Trading

At times we come across certain peculiar offshore brokers that know how to create a good-looking website, meaning that they are either naturally gifted or have gained experience over the years forging scammer sources. IFI Trading is such a “broker” and it matter snot whether the people behind its interface are experts or just got lucky. What we have here is a site that is pure scam, and nothing more. Read the review to find out more.

First of all, we have a blatant lie telling us that the broker holds an address in Spain, one of Europe's most active FX trading nations. The local CNMV is in charge of overseeing all brokers, and as such should, by default, be regulating IFI Trading. Well it isn't, and we never expected it to. The broker isn't even registered in Spain; it's first major lie.

The second lie we encounter is that the company is allegedly working in accordance to Vanuatu law, which is not possible. Even though Vanuatu is an offshore zone, in the FX lingo, it still has a prominent and serious regulator that oversees all local brokers. The Vanuatu Financial Services Commission has gained momentum in the past couple of years, and now many see it as one of the best offshore regulators. It would never ruin its poise by legitimizing a scam such as IFI Trading.

Not only is IFI Trading a scam, but it is also unregulated, but the former incorporates the latter.

Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

We went to create an account, and were faced with a very common registration form which has been widely used as a template for years now by unlicensed brokers. After a quick filling of the empty spaces, we were straightly redirected to a familiar web trader.

On this web trader, we could have traded forex currency pairs, cryptocurrencies, commodities, stocks, and indices. The EUR/USD cost of trade was 0.2 pips, which is in fact a value too good to be true. The company does mention the possibility of certain commissions, but we are never given any full details on them. We just know that such a low spread is never as it seem! The leverage given has been capped at 1:200.

IFI TRADING LOGIN

The trading software might seem good, but it actually ha a lot to do other unregulated broker previously reviewed by us. By this we mean that we have encountered this exact same web trader only with illegitimate companies.

The strong side are its visuals; apart from them this terminal is definitely on the limited side. Users daring to use it will find it boring after an hour or so of using it. In essence, we don't a find a reason to interact with it.

IFI TRADING MINIMUM DEPOSIT

According to the client portal, clients can deposit by means of PolyMaster, CoiniPop, and WoltBit.

The minimum deposit requirement is $100.

Even if you find these conditions favorable, we do not recommend investing here. You would be risking all of your money!

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

IFI TRADING WITHDRAW TIME AND FEES

As we might have guesses, there are no withdrawal details from the user area. There is a way to request a withdrawal, but there is no guarantee, written or otherwise, that users will ever be getting their money.

From the website we learn a couple of details, but there is nothing to support them as truthful.

The site claims that there are some applicable fees, but what theyr are has not been revealed.

Moreover, we get he following clause stating that withdrawal requests via credit cards (a payment method only mentioned here, one that isn't user for depositing) takes up to 12 weeks which is ridiculous.

Add to this the claim that the payment method for withdrawing is chosen discretely by the broker, and what you have is a very uncertain withdrawal environment.

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

Only frustration and loss of investments awaits you here. Do not waste your time with IFI Trading.