IDealTrade Review – An Austrian Broker – Is It Legit Or a Scam?
This is just one more broker that is completely anonymous. They claim that they are providing their services from Austria. However, there is no registration number or license number available. IDealTrade broker is hiding ownership information. Most probably due to the potential consequences of their acts.
If you would like to contact them, you don’t have any phone number that you can reach. Only question forms and e-mail are available options. We would never trust this broker. But after you read all details about this broker in our IDealTrade review, you probably you won’t trust them either.
|Unlicensed Scam Brokerage
|Blacklisted as a Scam by:
|Yes – BTC, ADA, XRP
|Types of Assets:
|Forex, Crypto, Indices, Shares, Commodities
|Free Demo Account:
|Accepts US clients:
IDealTrade Is a Scam Broker That Is Not Regulated?
First, we checked their domestic regulatory register – FMA. Of course, we couldn’t find any lead to IDealTrade trading company. Second, we tried to look in the database of other Tier 1 regulators like ASIC, CONSOB and FCA but it wasn’t successful either.
This is already a bad sign, but we check everything before a conclusion.
IDealTrade is not even officially registered in Austria, as they say. Besides that, it’s a completely anonymous company without ownership information. The lack of regulations is just a last straw.
Arguments For Trading With a Licensed Broker
Brokers like IDealTrade can offer you any terms and conditions that they want. That doesn’t go hand in hand with ESMA rules used in the EEA zone. That’s why regulation is very important.
You don’t want to lose money and then start thinking about what happened. You can prevent that with just a simple understanding of security in the financial market.
Red Flags and Warnings from Financial Regulators
We are happy that we could find at least one warning against these bogus scammers. It was issued by Poland’s financial regulator KNF. You can check yourself.
However, we hope that by sharing your story and coming up together we can alert more people about this scam.
IDealTrade Software – How Safe Is The Platform?
As we mentioned, non-regulated brokers can make up any trading conditions they want. Since they don’t provide any trusted trading platform, but only web-trader there is something suspicious already. These web traders are often controlled by a broker to lure you into a scam. That way you would believe that you are making money without any effort.
The Mobile And Tablet Apps
To get access to the platform you have first to register. After that, you have the option to download the platform for Android or iOS devices. Which is a good option. However, it can’t come anywhere close to the options that MT4 and MT5 have.
What Financial Instruments Does IDealTrade Include?
This broker offers all major trading classes:
- Forex – USD/JPY, EUR/NZD, EUR/SGD
- Commodities – oil, cotton, gold
- Indices – FTSE100, DAX30, BE20
- Shares – Alphabet, Starbucks, NVidia
- Cryptos – BTC, XRP, ETH
Even though, the availability of the assets is satisfying we wouldn’t invest here. You can have all these assets and many more with a licensed company. Not to mention trading conditions, which we will cover later.
IDealTrade’s Fraudulent Activities – What Are The Countries Involved?
According to IDealTrade reviews and warnings, they are scamming traders from:
- Czech Republic
Poland already issued warnings and it’s just a matter of time before the UK does that. After that, we believe that it’s game over for this broker. Anyway, you shouldn’t trust any of your hard-earned money to this broker.
What Are The Different IDealTrade Account Types?
IDealTrade broker offers 7 different account types that differ in minimum deposit requirements and trading conditions. Those are:
- Minimal 5.000$
- Standard 10.000$
- Moderate 20.000$
- Bronze 50.000$
- Silver 100.000$
- Gold 250.000$
- VIP 500.000$
These are bizarre trading conditions considering that this is not a regulated company. However, we found that the minimum deposit is 250$. I mean, you don’t invest even in a bank of 100.000$ if you don’t know the conditions. Therefore, the company will show you how everything works but after that expect a pitch for more.
IDealTrade Free Demo Account
Another downside, besides these irrational account types, is that the company doesn’t offer a demo account. Even if there is a micro account would be acceptable. But nothing mentioned is available with this broker. We wouldn’t spend a penny here, since they don’t provide any transparency.
IDealTrade Deposit and Withdrawal Policies
For depositing and withdrawing options you have a bank transfer or a debit/credit card. There is a minimum requirement of 250$ dollars for deposits and bank transfer withdrawal limit of 500$ and a card withdrawal limit of 100$.
In another IDealTrade review, we found that they are as well doing a withdrawal fee scam. They will tell you before they confirm your withdrawal that you have to pay additional fees. That way they get the maximum out of you and vanish afterward. Be careful of that.
IDealTrade Terms and Conditions
T&Cs are nothing but nonsense. The leverage that goes up to 1:1000 is insanely high. That leads you directly into their scamming net. It’s very risky, therefore they have more control over your account.
Spreads are as well another irrational thing. The range is from 1 up to 15 points. Even if it’s a pip as a measuring unit it is high. Points are something different and they could be anything. As we said they can make up any T&Cs.
Scammed by an IDealTrade Broker? – We Want To Hear Your Story.
Don’t be ashamed if you were scammed by this broker. Share your opinion on trading with them. In a meantime, we can help you with a chargeback procedure. Book a free consultation with our experts already today!
What Is the Chargeback Procedure?
This is a money reversal transaction if you are using a debit/credit card. If you were using other methods than cards, there is still a solution. Don’t waste any more time. Contact us now to start your chargeback process!
What Is IDealTrade?
This is a non-regulated scamming broker that presents itself from Austria.
Is IDealTrade a Scam Broker?
Yes. They don’t have any regulations from FMA, BaFin or any other Tier 1 regulator. Besides that, they are not officially registered in Austria.
Is IDealTrade Available in the United States or the UK?
This broker offers services to UK clients, but not US.
Does IDealTrade Offer a Demo Account?
No. Unfortunately, only live trading accounts are available with a 5.000$ minimum requirement.