ITGSolution Net Review: Why This Shady Platform Cannot Be Trusted
ITGSolution net is an offshore brokerage based in the Comoros Islands. That being said, the broker’s regulation is disputable and instantly questions the platform’s credibility and reliability.
Our ITGSolution net Review is here to expose the scammer and prevent more traders from falling into this cyber trap. Learn why you should avoid this dubious platform.�
| Regulated by: | MISA |
| Is This Company Safe? | No |
| Known Websites: | itgsolution.net� |
| Have Warnings from: | CNMV |
| Registered in: | Comoros Islands |
| Operating since: | 2023-01-10 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | 5,000 EUR |
| Deposit Bonus: | N/A |
| Trading Assets: | Forex, Commodities, Stocks, Crypto |
| Free Demo Account: | No, only live trading accounts |
| How to� Withdraw from This Company? | Since this company is unlikely to return your money – contact your bank, Financial Regulator, or simply Reach out to us for professional assistance in recovering your funds. |
Is ITGSolution net a Regulated Broker?
ITGSolution claims on its website that this brokerage is run by Dev Global LLC. This company is registered with the Mwali International Services Authority (MISA), the regulator of the Comoro Islands.�
Moreover, the website also mentions that this company is registered in Saint Vincent and the Grenadines (SVG), which is not true. We checked the database of the Financial Services Authority (FSA) but did not find the company there.
Nevertheless, it’s still an offshore company with a shady regulation that’s simply not credible enough based on established trading standards. ITGSolution’s regulation is substandard. Trusting offshore brokers usually ends up in wallet draining. We exposed one such fraudster recently – orbitgtm.��
Our advice is that you find a reputable broker that operates under the jurisdiction of Tier 1 financial market authorities such as the FCA (UK), CFTC (US), ASIC (Australia), CNMV (Spain), etc. Speaking of the cnmv, the Spanish watchdog issued a warning against the ITGSolution net scam on April 10, 2023.�
What Do Traders Say About ITGSolution net?
Traders also seem to think that ITGSolution net is a scammer. We checked the broker’s trustpilot.com page and immediately found a complaint against the broker. At the time of this writing, the broker had a total of 70 reviews with an average score of 3.2 (average).
�ITGsolution. net has not refunded my money up to this day. About 4 months have gone by, I invested 180 Euros. I am not able to log on my account on their website to see my profit. They do not reply my messages. I was informed by email by an anonymous person that my investment with Itgsolution.net has grown and that I have a 7,934 USD in my name on their software…
- Trustpilot user, June 13, 2023.
The common theme that the complaints feature is poor communication between the company and the clients. Withdrawal issues are seemingly inevitable with ITGSolution net. Please contact us if you need help getting your money back.
ITGSolution net Fees
The ITGSolution net fees for cryptocurrency trading are the same for all tokens – 0.8%, per the website. As for fiat currency pairs, the trading costs, i.e. spreads & commissions vary for each currency pair.
For instance, the spread for the EUR/USD benchmark currency pair is 0.8 pips, if the website is to be trusted. We will give the broker the benefit of the doubt here; 0.8 pips is pretty decent and competitive considering that the industry’s standard is 1.5 pips.
ITGSolution says that all other fees for deposits, withdrawals, inactivity, and copy trader feature are zero. Whether this is true or not, it does not matter. The financial swindler is unregulated and blacklisted, which means that tempting fees and costs should be disregarded.
What Types of Accounts Are Available at ITGSolution net?
Let’s make an overview of ITGSolution’s trading account types:
- Classic – 5,000 EUR;
- Gold – 25,000 EUR;
- Platinum – 100,000 EUR;
- VIP – 250,000 EUR.
ITGSolution demands that traders pay 5,000 EUR just to create the most basic live account tier. There are many legitimate brokers that will charge you just 10 $ for a Micro account.
The Gold and Platinum account types offer a 15% price discount while the VIP account offers leverage up to 1:500. Such high leverage is risky and may lead to huge losses, hence why the regulators set the cap at 1:30 (Europe, Australia) or 1:50 (North America).
ITGSolution net does not offer a risk-free demo account. If you are a beginner, it would be a disaster to invest 5,000 EUR into a live account without first testing out the platform. Please avoid offshore brokers that do not offer demo accounts such as ITGSolution net and exteom.�
The ITGSolution net Trading Platform
According to ITGSolution’s website, the trading platform that this broker features is a browser-based trading terminal, commonly called WebTrader. This platform is an oversimplified and ineffective trading tool because it does not offer advanced options such as automated trading, live market reports, or branch optimization.�
It may be suitable for absolute novices but even they ought to outgrow it quickly. The main issue here is that the broker is unregulated, meaning the platform may be manipulated.�
ITGSolution doesn’t support proper third-party software such as MT4, MT5, or cTrader. If this platform was used to trap your funds, please inform us about it.
Where Does This Broker Operate?
According to godaddy.com/whois, the ITGSolution net website domain was created on January 10, 2023, which is relatively recent. Since then, the con artist has mainly been targeting traders from the following countries:
- Sweden;
- Norway;
- Finland;
- Spain;
- United Kingdom.
The data from similarweb.com shows that the ITGSolution.net website recorded 11k visits last month, which is a decline compared to March’s 19k visits. This is good news but the problem is that the website is still active and needs to be taken down.�
To reiterate, the Spanish CNMV issued a warning against ITGSolution net in April this year. Since the other domains on this list feature identical or at least similar regulations, it means that ITGSolution cannot operate in any of them.
ITGSolution net Payment Methods
ITGSolution’s deposit & withdrawal policy is missing from the Terms and Conditions document. In the FAQ section, the phony broker simply listed credit/debit cards as the only available payment method. Acceptable cards are those issued by Visa and MasterCard.
That does not work to the broker’s advantage but at least this payment method allows for a chargeback to be requested at the issuing bank within 540 days. The minimum deposit is 5,000 EUR and all the fees are allegedly zero.
Our Verdict on ITGsolution
To sum up, ITGSolution is a fraudulent offshore broker with no credible trading license. This scammer has been active since April 2023, targeting mainly traders from the UK, Spain, Sweden, Norway, and Finland.
This brokerage is dangerous, please stay away from ITGSolution.net at all costs. If you are a victim of this scam, contact us for help. We will guide you through the chargeback process but you must make haste!
Book your free consultation with our team today and learn how you can get your money back!
FAQ Section
What is ITGSolution net?
ITGSolution net is an offshore brokerage based on the Comoros Islands that offers FX, CFD and crypto trading.
Is ITGSolution Legit?
No. ITGSolution appears on the blacklists of two reputable European financial market authorities – the Spanish CNMV and Italian CONSOB.
What Should I Do If I Have Been Cheated By ITGSolution net?
If you are a victim of this scam, you can request a chargeback at your bank. Call us and we will explain how it works.
