Once we discovered that Istrade belongs to an already notorious offshore firm, Dulcet Group LLC, we figured there’s nothing much to say. It’s a scheme. Don’t take our word for it; read this review, and you will understand everything.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Dulcet Group LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Types of Assets:||FX, commodities, futures, indices. Shares, bonds|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
What About Istrade Regulation?
Istrade is owned by Dulcet Group LLC, based in Saint Vincent and the Grenadines. This firm has two other brands: Concord Invest and North Profit. Due to fraudulent activities, the firm is under investigation by German police and their regulator, BaFin. This, along with the fact that SVG has no financial regulator for Forex firms, assured us that Istrade is a scheme firm like other brands.
Why Must a Broker Have a License?
There are quite a lot of reasons why investing with a legitimate, regulated firm is important. For you, the crucial difference is a compensation fund. Tier1 regulators such as FCA, ASIC, and BaFin obligate Forex firms to have a compensation fund of over 700,000 EUR, which is used to reimburse potential victims. With offshore firms, you have no guarantees, and you can easily be defrauded.
Traders Reviews About Istrade Scam
Let’s say that Istrade won’t be awarded the broker of the year. The firm is offshore and unregulated, thus causing many problems with withdrawals. Many clients filed a complaint stating that they have tried to submit a withdrawal request just to find out that their access to the trading account has been blocked. It’s nothing new with scam firms, but it’s definitely something you must report right away.
Supported Trading Platforms – Available Trading Software
Istrade offers a solid proprietary WebTrader that allows you to overview your trade and market prices, invest in more funds, and see your margin level and trading history. The platform is available as a desktop and mobile app and in the web version.
However, compared to MT4 or MT5, this software looks cheap. We recommend a regulated firm with proper investment tools if you want to start trading.
Everything About Istrade Accounts
If you are still interested in Istrade and want to consider their account offer, here’s a brief oversight.
- Trader – $250
- Standard – $1,000
- Classic – $5,000
- VIP – $10,000
- Pro – $100,000
Accounts differ in access to assets, lot size, leverage, etc. This firm offers unregulated leverage. However, it doesn’t specify the limits. All we know is that with each account type, you’re getting more extended leverage. When you’re not aware of the risks, you cannot be safe on the market.
Istrade Range of Trading Instruments & Markets
Istrade offers access to the following markets, depending on the account type:
- Currency pairs
Allegedly, there are over 700 assets, but there is no Demo account, so we cannot confirm this information.
Also, remember the names of the trading frauds AnalystQue, Fin Venture and EUFinance trading scams and avoid them at all costs! Furthermore, before investing, always check the background of internet trading organizations!
Istrade Leverage and Other Scam Terms and Conditions
Istrade doesn’t specify leverage, making this firm risky. Since leverage increases buying power and potential profit, it’s also increasing potential losses. And not knowing what you risk is the worst form of investing.
Furthermore, the company has malicious Terms and Policies. For example, you cannot submit a withdrawal request before repaying the bonus plus the deposit amount 25 times if you accept any bonus. Besides, a clause states, “In accordance with the working regulations, your trading account might be charged an inactivity fee.” Yet, this fee is not specified, leaving the broker to take as much as possible. And that’s not something you want or can afford when investing your funds.
Istrade Deposit and Withdrawal Methods
Istrade accepts the following payment methods:
- Wire transfer
- Debit/credit card
- Crypto wallet
Withdrawals must be performed through the same method as deposits, while the minimum amount is not specified. Apparently, withdrawals take 4-7 business days after the request is processed, but there are numerous terms to fulfill before being granted a payout. The company will ask you to print, sign, and scan the request, send your personal documents for account confirmation, and give them time to ensure you’re using the same payment method and the account is really yours. In the end, they stated, “we are not committed to any time frame,” meaning you can just stay with no money, which usually happens.
Scammed by Istrade Broker? – Let Us Hear Your Story
If you find yourself in our story, it’s time to file a dispute for a chargeback. Our recovery specialists will provide the best solution for your case and help you get a refund.
But What Is A Chargeback?
This is a way for your funds to be reversed to your account if you can prove that you have been scammed. Contact us via online chat, and let’s get your money back before it’s too late!
What Is Istrade?
Istrade is an online trading brokerage without a license. The firm is offshore and conducts scams.
Is Istrade a Scam Broker?
Istrade is owned by a scam firm under investigation by German police. Therefore, you cannot trust the brand.
Is Istrade Available in the United States or the UK?
Istrade provides its unregulated services in both the UK and the US.
Does Istrade Offer a Demo Account?
No, Istrade doesn’t offer a Demo account, only Live accounts starting from $250.