IvyTrust review – 5 things you should know about ivytrusts.com

IvyTrust review – 5 things you should know about ivytrusts.com

Beware! IvyTrust is an offshore broker! Your investment may be at risk.

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There is something appealing about IvyTrust, the name. It pulses calm, and lets our guard down. Not only that, but the name is very good for a forex broker. Too bad that it was given to this one, which as we shall see is not so trustworthy as the nomenclature suggest. We will say it now, IvyTrust is a shady offshore firm that comes with all the elements that one has come to expect from such entities. Read the review to see what we found out about this one.

The registration process was looking quite professional, to be honest, but it still lacked many of the required fields that most brokers apply. Once we opened an account, it turned out that there is no client area. The trading web based trading software functioned as a user dashboard. Speaking of the terminal, the EUR/USD spread is 3 pips, a value lucrative only and only for the broker. The retail leverage is 1:100, while the VIP spread reaches 1:400. A user can trade with forex pairs, commodities, crypto, stocks, and indices.

The website is available in English and Italian.

IVYTRUST REGULATION AND SAFETY OF FUNDS

The claim that IvyTrust is working under the laws of St. Vincent and the Grenadines is cause for concern, because the small island nation does regulate Forex brokers. It does not matter if IvyTrust  is registered, there… what’s at stake here is that the broker lack a regulation, making it UNLICENSED, and therefore a risk to all!

Traders should be trading with risk-free brokers, that hold licensed from renowned and austere agencies, like the FCA  or CySec , which have made a name for themselves as some of the top regulators. Readers should be aware that both agencies have adapted very strict rules of conduct, and their licensing framework guarantees safety and security for all clientele. A good example of this is the segregation of accounts which assures that client money and broker money are kept in separate accounts. Furthermore, FCA/CySEC brokers participate in a financial reimbursement scheme that cover traders losses in case the broker becomes insolvent. The FCA provides up to 85 000 pounds per person, while CySEC guarantees up to 20 000 euros.

And not to mention that the safety of users’ data is unstable to say the least. The broker has the right to share it with business partners, in the event of a merger, bankruptcy, and other. What concerns us mostly is that no specific names have been disclosed.

Here’s a another provision, which explicitly states that the company may be in direct conflict of interest with the user. No legitimate broker would every claim this.

IVYTRUST TRADING SOFTWARE

The trading platform revealed is a simplistic and limited browser trader that does posses certain visual appeal, but users will quickly lose interest, especially if they are used to, or have tackled with, the MT4 or MT5.

Here are some of the most distinguishing features of this terminal: chart customisation. That’s it. Truly an underwhelming experience.

There is mention that there are commission and spreads:

But, alas, the broker does not disclose their real vlaues.

IVYTRUST DEPOSIT/WITHDRAW METHODS AND FEES

According to the payment area, the way to deposit is to contact the account manager. This goes hand in hand with the Scam section of the review.

Thus we cannot give you honest info on deposits. The website claims that the minimum deposit is $250. There is no info on payment methods. In the T/C the company states that it has the right to change the minimum deposit at any time.

All deposit are non-refundable, which basically that you cannot withdrawal your deposit. At least that is what we are led to belive by the following clause.   

According, to the Withdrawal, Refund & Cancellation Policy, the withdrawal methods are Credit Card, Wire Transfer, and through a bitcoin address; perhaps the depositing ones are the same?
The minimum withdrawal amount via bitcoin is $250, and $100 for all other methods. The time it takes to process a withdrawal is up to 10 days. The withdrawal fee is 1%, with a minimum amount of $30, basically meaning that every withdrawal will be charged at lest $30.

Dormant accounts are charged with $99. A dormant account is one that has not executed any transactions in 30 days of more. This is a very heavy fee.There are also fee for something labelled an Event of Default, which we see as another excuse to charge you.

Before withdrawing a bonus, a user must complete the following trading requirement: she must complete a total trading volume of 60 000 times the the bonus (50k for the VIP bonus package). This is absolutely unheard of, and completely ludicrous.

Furthermore, the following clause is very unclear on weather it applies to after a user has met this crazy turnover requirement, or not. What ever it is, when the client requests a withdrawal over 20% of the deposit, the bonus will be revoked. If the request is to withdraw under 20% of the deposit, then the withdrawal will proceed.

Last of the bonus provisions concerns itself with a limitation of liability. The broker will not be responsible fro any losses, or similar, regarding the usage of a bonus. The maximum IvyTrust will reimburse a user is $50.

Here is a generalised provision that states there are multiple fees applied to a user, including third party fees, most of which are not explained in full detail.

Furthermore, the user cannot file for a chargeback, as per the legal docs. This means that a user cannot go after lost funds. What’s more, the user must reimburse the company for making chargebacks!

The broker will use a client’s private data in order to protect its own interest, i.e take precautions against liabilities arising from allegations.

In a similar tone, we present to you the classic indemnification clause:

How does the scam work?

The usual scam operates on a multi-level, though very basic model. The users will be tempted to click on an Internet ad promising quick and easy profits. If they do, it will take them to a website that will ask for their personal details, including email address and phone number. Once they submit this information, an avalanche of emails and phone calls will be unleashed. Scammers will promise the world to these potential traders in order to induce them to make an initial deposit between $200 and $300.

These “brokers” will get a fat commission from the deposited sums and will transfer the unsuspecting users to “senior” scammers. The latter are smooth talkers who will try to persuade users to invest more funds, using phrases like “now is the right time” and “the moment is perfect for making hefty profits”. Of course, these are empty words, and traders will soon have doubts whether they have not been played.

When they try to withdraw their money, these doubts will be confirmed: the con-artists will do anything to deny or at least delay their withdrawals. From trying to convince the traders that they are making a big mistake to withdraw funds now because they will lose big profits, to asking for additional documents or citing clauses in the accepted agreements, to transferring you to another department, there is a single objective to delay the users from filing for a chargeback with their financial institution and lose any chances of recovering their money.

What to do when scammed?

Anyone can fall prey to such a scam. In the unfortunate event this happens to you, there are a few things you can do. If you deposited using a credit card you should immediately file for a chargeback. In an effort to combat online fraud VISA and MasterCard have extended the period in which one can file a chargeback to a year and a half, so there is a big chance that you may be able to recover your funds. If however, you used a bank wire or bitcoin to deposit, chances to get your money back are almost none.

We should also warn against “recovery agencies” who prey on victimized traders by claiming they can recover their funds. These scammers will ask you to pay a fee for this service, but will only take your money and do nothing.

Rich Snippet Data
Review Date
Reviewed Broker
IvyTrust
Broker Rating
11stargraygraygraygray

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13 Comments

  1. Yes, I agree totally with your review. I never got my deposit back.

  2. Tony DeRossi

    Senior Vice President

    the guy below and numbers associated with Ivy Trust is definitely a scammer. I know someone who did not get their money back.
    +61280743414

    +441205540216

    [email protected]

  3. I’m just overwhelmed!

    After all I have done for you, this is how you behave.

    You need to understand that I’m not dealing with people who are not account holders so your case will go to our legal department!

    I just can not believe I spent the last two weeks thinking I was dealing with someone who understands a bit of interest but it turns out I was wrong.

    For the past two weeks, I have worked so hard to bring your account to a profitable account. I shared with you information from senior departments from you and everything so that you can enjoy a chance for big profits and indeed enjoy it.

    You saw that only when you listened to me and acted quickly did you gain from it.

    I’m just shocked by you that this is the case!

    Tony DeRossi

    the above tripe is from this guy after trader tried to get their money back. Total scammer.You are 100% correct in your write up. Well done.

  4. I also agree with your excellent review – theforexreview.com. I have lost all my savings of well over US $100,000 dollars. IVY TRUSTS is a fraudulent company. If you deal with this company you will be scammed out of all your money as I was. They do not allow you to withdraw your funds as promised.
    Take no notice of Tony DeRossi as he is all part of the scam. He is an evil man and is not to be trusted. I have reported the illegal activity promoted by IVY TRUSTS to the Australian Securities and Investment Commission, the Australian CyberSecurity Centre, the Australian Government Scamwatch and the Australian Federal Police. I have also reported the fraudulent behaviour of IVY TRUSTS and Tony DeRossi to the UK Police.
    If I had not been scammed by the fraudulent activities of IVY TRUSTS and lost my entire life savings then I would not have proceeded down this pathway.
    I am sure that In his reply Tony DeRossi will blame me for my financial ruin and suggest that I have always had the opportunity to withdraw my funds – this is not true. IVY TRUSTS is a scam.
    I note the comments by Stephen above.
    Please learn from my experiences – do not trade with IVY TRUSTS.

  5. I have also had a bad experience with Ivy Trusts.
    Can only say it was my own fault, I was seduced by the idea of easy money and failed to do my due diligence. I have paid the price and write in the hope that others will not give any support to these people. Operations such as Ivy Trusts need to be rejected as they are exploitative of vulnerable people and need to be totally rejected.

  6. Please Don’t invest in this fraudulent company. I have been enticed into their web of deceit. I have lost a large amount of mone. Tony De Rossi was nice to begin with who gained my trust however when i wanted to withdraw my money he lost all my savings. Their recovery department recovers nothing except to try and invest more money to recovery their lost. I am devastated that a human being can do this to another. I am still fighting to get my money back however I know I am at a lost. So heart breaking.

  7. I too lost alot of money back in June 2020 and wish I had come across these types of reviews before then. But unfortunately I also trusted “Trust Pilot” who are just as fraudulent. Do not believe the brief positive reviews you read on “Trust Pilot”. I was scammed by Ross Feldman at Ivy Trusts. And Trust Pilot will not allow my truth to be told as they keep removing my honest review and blocking me. I have reported Ivy Trusts to numerous authorities and hope we can close their disgusting operation down as soon as possible.

  8. I too have been scammed by IVY TRUSTS resulting in the loss of a considerable amount of money. I responded to an advertisement on google supposedly endorsed by prominent Australians. Soon after I was contacted by IVY TRUSTS. I invested a small amount of money and the service was good. They appeared genuine and professional in their approach. I was soon asked to deposit more and more funds. They worked with me on a trading platform and the profits appeared too good to be true. The amount of money deposited was substantial and I became worried when they kept asking for more and more money to maximise my profits.
    After a little more research into IVY TRUSTS, I soon began to realise that I was being scammed. I checked the initial advertisement and found that it was in fact not endorsed by the prominent Australians as indicated. I also reviewed other sites who indicated that IVY TRUSTS was a fraudulent organization – an offshore unregulated company. I wish now that I had reviewed this website prior to investing all my money with IVY TRUSTS.
    I attempted to withdraw my money from the IVY TRUSTS, but this was blocked. I was told that I had to close other accounts to which I had no knowledge. With this first additional trade, I lost half my deposited funds and with the the next trade I lost the rest. I was scammed and I feel embarrassed that I allowed myself to be treated with such disrespect.
    I have no hope of ever seeing my money again. I have reported IVY TRUSTS to the regulatory authorities in Australia and the UK, but have been told that I have been scammed and that I will never see my money again.
    Please do not trade with IVY TRUSTS – it is a scam! You will lose all your money. Do your due diligence and check multiple review sites regarding this fraudulent organization. Please be aware that the Trustpilot review site, allows cash for comment and that all non favourable reviews regarding IVY TRUSTS are blocked and then deleted. I believe that IVY TRUSTS and Trustpilot are part of the same scam.
    My sadness at losing my life savings to IVY TRUSTS has left me feeling worthless and angry!
    Please do not make the same mistake as me!

  9. I,too, have “LOST” my money by Ivytrusts.
    Fortunately it was only the bare minimum required,$250.00 USD (Approx) $360 AUD (Australian Dollars).

    Stay CLEAR of Ivytrusts!!

  10. Well what a good scam my wife and myself have just been throuygh with IVYTRUSTS.
    Everything what has been said in the above scamed people with their hard earned cash is faultlsly true. Robertre (Robert Reed) was our scamer.
    Do not beleive when you are told to enter the VIP level with $100000US then you get the VIP trades fron the VIP analysis department and your profits will earn you $20000 $30000 $40000 US a month
    These false statements only lure you into putting more of your hard earned cash to the level of $100000US VIP department. Once reaching the VIP level we were told you only put in what you can loose, that rang bells. You gessed it that next night we lost $10000 and $60000 in consective trades below the VIP. With more false statements we injected more funds to reach the VIP department, with more bonuces which you will never be yours, the scam will make sure of that.
    With bad advice again you guessed it again we have nothing left of our hard earned savings.
    DO NOT DO NOT DO NOT DO NOT LOOSE YOUR HARD EARNED CASH IN IVYTRUSTS.
    DO NOT BELEIVE THE TRUST PILOT FORUM RHEY DU NOT ACCEPT THE TRUTH.

  11. We were scamed by IVYTRUSTS the scam is that good you doen’t see it comming.
    We lost all our money
    Everything you have read about IVYTRUTS or other sites is true and more.
    DO NOT INVEST YOUR HARD EARNED CASH IN IVYTRUSTS SCAM.

    1. Hi Craig
      I too had dealings with Robert Reed. After losing my funds Robert was supposedly from their legal department. He told me it was all my fault as I was the person I control of my platform and I didn’t have to follow their orders. They speak over the top of you when you are trying to get answers. They are a terrible group of people who are soulless. I feel feel your pain!

  12. IvyTrusts are a fraudulent company , do not go near them please folks.

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