Interactive Markets Review – Don’t Interact With These Schemers

Trading with ease is something every trader hopes for when signing up for a brokerage platform. Unfortunately, a wide range of questionable online trading portals only sell an illusion of a safe and lucrative trading environment.

Such is the case with the broker that is the subject of today’s Interactive Markets review. In order to stay safe and increase your chances of earning, you should pick a better investment opportunity. 

Unknown Scam Machinery

It is quite common to see numerous untrustworthy websites that try to appeal to their potential victims by posting all sorts of false corporate data. For instance, the Interactive Markets scam claims to operate out of the UK and Switzerland. There are even some alleged company addresses found on the site.

However, the London address is not precise and points to an attractive location for big businesses. There are several companies registered at this address with the UK Companies House, but none has anything to do with the broker we’re reviewing.

Furthermore, the Swiss business register also doesn’t have a company registered under this name. Finally, legal documents on the site mention the firm operates under the laws of the Marshall Islands, which is most likely their true location.

Offshore Broker With a Warning

The regulatory body that oversees the activities of brokerage houses in the Marshall Islands is GLOFSA. However, this is a loose authority that doesn’t require firms to respect advanced security measures and enable fund protection.

In addition, we’ve also found an FCA warning against this entity, which confirms our doubts about their illicit activities. This offshore online trading scheme is most likely aiming to steal your funds and simply disappear.

Focus on Certain Regions

In order to be better at persuasion, con artists prefer working in a limited number of regions. This is a strategy Anders Trading ruse exploits as well, as do many others.

Here is where the Interactive Markets platform has been most active:

• Australia
• Canada
• Italy
• United Kingdom
• United Arab Emirates

Interactive-markets.com is a relatively new fraud, with the site being launched in May 2024.

Features Below Any Criteria

Various fraudulent entities like Fargo Consulting, for instance, often greatly exaggerate the quality of their software. The same is true with the Interactive Markets app, which is a basic Web Trader.

This web-oriented app runs from a browser, which is the only advantage it has over industry leaders like MT5 or cTrader.  The app does not include any demo bar or a barely interactive preview function. It does offer access to a fair amount of trading instruments, however, including indices, stocks, currencies, crypto assets and commodities.

No account types are ever mentioned on the site, and this is intentional. This allows the swindlers to gauge each individual victim’s willingness to pay and adapt accordingly.

Convoluted Info on Costs

As evident from the trading room area, the starting leverage is 1:10 on all instruments and pairs. This is somewhat within the regulatory limits. No further information is available when it comes to this trading parameter or any other trading parameter, like spreads and fees.

Legal documents are extremely vague about the actual costs of services. Some parts of the text mention several types of fees, yet fail to clarify the exact rates. The only number mentioned is the minimum charge from the credit card is $3.00.

In addition, there’s also a dormancy fee of $300, which is charged after 12 months of no trading activity.

Appalling Payout Conditions

Client dashboard includes a hefty and intrusive dialog box containing all of the information the charlatans need to gain access to your credit card. Additional KYC documentation requirements ensure they get all they need to access your bank accounts.

Although the people behind the plot mention bank cards with processing time of up to 14 days, wire transfers, and SWIFT withdrawals, none of these options are available. Dashboard only allows for Interactive Markets crypto wallet transfers.

The Terms and Conditions and Withdrawal Policy are set up in such a way as to deny any withdrawal attempt. Hefty bonuses are thrown around, and to get any sort of payout, you’d have to make a profit 50 times greater than the sum of your deposit and bonus.

Support Is Unreachable

After looking into the quasi-legal documentation presented on the site, it becomes clear that these guys don’t play nice. 

In short, the client holds all liability, and the company is free to change its trading and payment conditions on a whim.

Of course, this is all completely unlawful. The lack of legality, however, won’t stop the help desk from stonewalling their clients, citing one clause or another. It’s not like contacting support is an easy ordeal, with the only options being email and an online form.

Got Scammed? We Can Help!

Taking a more in-depth look at this so-called broker website quickly revealed that we were dealing with professional swindlers. Unfortunately, there aren’t any Interactive Markets reviews that would warn potential victims about this setup. 

This is yet another red flag that you should always watch out for. Reputable companies have a lot of positive ratings and customers don’t shy away from sharing their experiences with the brand.

If you’ve invested any funds with these cybercriminals, don’t hesitate to contact our expert team. We are available 24/7 for your convenience via the live chat, and our first consultation is free of charge.

FAQ

Is Interactive Markets a Reliable Company?

This business is actually a blacklisted entity, which FCA has labeled as fraudulent and untrustworthy!

How Can I Get My Money Back?

Although it may seem impossible at a certain point, fund recovery is very much possible. To find out more about how our chargeback experts can help you, please consult our online chat agents.