TradeIFX review – 5 things you should know about tradeifx.com

TradeIFX review – 5 things you should know about tradeifx.com

Rating: 1

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

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TradeIFX is a pure scam, and we are going to show you why. To sum up, it has no license, no platform, and actually offers no Forex accounts, but fishy investment plans only. In the following review, we are going to discuss critical details about this scam, so you’d better read it before you’ve ended up being defrauded by TradeIFX.

TradeIFX REGULATION AND SAFETY OF FUNDS

We could tell it’s a scam simply by taking a look at the address provided- London, England. Those scammers certainly don’t want to reveal their actual location, and the information seen in the screenshot above is 99% likely to be fraudulent. Nevertheless, we researched for a British license but found none, so your funds will be at risk as TradeIFX is unregulated. In fact, it’s a scam, and we are going to prove it in the following sections.

Avoid TradeIFX and see the high-rated EU brokers and British brokers on both lists instead. The regulated European companies are trustworthy enough, but most importantly, they are covered by deposit insurance funds protecting traders’ money in case of bankruptcy or fraud (depending on the jurisdiction). For example, with a CySEC broker, you can claim up to 20 000 EUR in case of bankruptcy, while the British guarantees are even up to 85 000 GBP per person. The deposit insurance funds provide an extra layer of protection, making participating companies a preferred choice for seasoned traders and investors.

TradeIFX TRADING SOFTWARE

TradeIFX has no software whatsoever. It pretends to deliver MetaTrader, but the downloaded file installed the generic MT4, allowing virtual money accounts only. Anyone can get precisely the same distribution from the MetaQuotes’ website, so TradeIFX is merely taking advantage of MetaTrader’s spotless reputation. Then, upon registration, we ended up with an informative chart, which is also useless for real trading. Eventually, TradeIFX isn’t a broker at all but a fishy investment provider, and we’ll discuss their so-called opportunities in the following section.

Speaking of software, we’d like to offer the high-rated MetaTrader4 brokers and MetaTrader5 brokers on both lists. We do so because the MTs are market leaders packed with advanced features such as Expert advisors, many indicators, and excellent charting tools. The terminals also include a marketplace with more than 10 000 apps and third-party developed solutions, which is an unrivalled advantage. Interestingly, MT5 surpassed MT4 for the first time in terms of brokers delivering the platform, but its volumes are still weaker.

So, as there is no software, we can’t go through spreads and leverage levels. However, TradeIFX pretends to offer up to 1:400 leverage, and the offer itself exposes it as unregulated because British brokers can’t offer such a spread.

In fact, leverage is dangerous, and many financial authorities launched a product intervention restricting its usage. Namely, due to regulations, licensed EU, British and Australian brokers have to limit retail clients to 1:30 for FX majors, while Canadian brokers and US brokers to 1:50, respectively. On the other hand, Swiss brokers are trustworthy but not leverage restricted, so experienced and risk-tolerant traders eligible to open an account in Switzerland can safely go for it. The rest of the high-leverage brokers are either poorly regulated or not at all, so you should be careful with those entities.

TradeIFX DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit is $200, but you don’t open a Forex trading account. Instead, you’ll subscribe to some fraudulent Investment package offering a minimum monthly return of 100%. Well, such profitability is impossible when it comes to fixed-income products. In fact, even the most reputable funds are struggling to deliver more than 10% fixed per year, let alone 100% per month. TradeIFX is a scam!

As for funding, the broker claims to offer cryptocurrencies and wires, but we can’t validate this information. In fact, we tried to deposit, and the only available option was the Indian Razorpay, but we didn’t go any further as TradeIFX is a scam we already exposed.

Anyway, while talking about deposits, see our lists with Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have a trusted payment system. The high-rated companies are competently regulated, and you won’t face scammers, so you can safely open accounts.

As for withdrawals and transaction fees, there is nothing because TradeIFX has no Terms and Conditions, User Agreement or other document disclosing the broker’s services. Well, as we already showed, TradeIFX isn’t a broker at all, so even if the information was available, it would be strictly fraudulent. Nevertheless, the absence of legal documentation strongly indicates a scam, and that’s yet another red flag we will raise as the broker intentionally hides something.

Overall, TradeIFX is a scam we exposed in this review, so make sure to avoid it no matter what.

HOW DOES THE SCAM WORK

The scam usually starts with the deceitful ad, the cold call or the fraudulent social media profile, and once you get enticed, you’ll be constantly manipulated by the con artists. In most cases, the scammers will claim to manage your account and will show you winning trades at the beginning to make you believe it’s worth dealing with them. By doing so, they aim to gain your confidence and trust, which helps them in the following stages.

From there on, scammers won’t let you withdraw profits but will constantly urge you to invest, again and again, asking for much greater sums. Make no mistake about it; those criminals will try to squeeze as much as possible from you, so they’ll advise you to put all of your savings in the scheme.

You’ll probably understand what’s going on as soon as you try to get your money back. At this point, scammers will try to persuade you not to do so and will even shamelessly say that you can’t withdraw unless you deposit once more. If you are persistent and refuse to follow their instructions, they will simply cut the communication and close your account. Then, whenever fraud becomes publicly exposed, scammers will abandon the website and create new ones, carrying on with their criminal activities.

WHAT TO DO WHEN SCAMMED

Unfortunately, no one is immune to scams. If you get scammed, the first thing you need to do is to consider the secondary risks. Deactivate your credit card and contact your bank and ask for advice.

Then, report what happened to you, file a complaint, contact the authorities, call the police if you feel necessary. Seek help actively!

Remember, it’s crucial not to rush blindly to recover funds because fraudulent chargeback agencies and individuals are stalking, trying to double scam the victims. They ask for upfront payment, take the money but won’t do anything to help you!

Share online your experience; it’s important to protect others, too. Be responsible

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5 Comments

  1. Hello sir.
    tradeifx.com is big scam and fake forex brokerage company.
    I invested 666 dollars in this tradeifx company on 07/07/2021. My MT5 id is 462894718150.
    The tradeifx.com company also gave 666 dollars trading bonus to my account. The total equity I had was 1332 dollars. I also made a profit of 494 dollars by trading. After a month, I asked for a withdrawal of $ 200 from the company. The company also gave me 200 dollars withdrawal in my bank account after two days. But minus 200 dollars from my investment and also 200 dollars from the bonus given to me. In this way a total of 400 dollars were minus from my account. After that I again requested for withdrawal of 200 dollars on August 06.
    After that Gradually the calls from my account manager also stopped coming. For the last one week, the calls have stopped completely. even they stopped giving trades to me.
    Even today 960 dollars are present in my account. And till date I haven’t received 200 dollars withdrawal from tradeifx.com.
    They have also stopped taking my calls. And neither is responding to my emails.
    That’s why I want you to write a detailed review about http://www.tradeifx.com. So that other people can avoid investing in this fake company

  2. Problem solved
    Thanks for tradeifx

    1. Hi Sudhir

      I want to know the company background..

      It’s scam or how

      Please advise

      Regards
      Jitendra

      1. Janani Vasu Raghav

        Hi Jitendra

        I Think Tradeifx is Scam only. Because I invested 200 Usd on 06.07.2021. They promised to earn 250 to 400 USD per month. But not happend. Now my Balance is 1413 USD and Totall Loss running around 970 USD and the Equity is 440 USD. I am requesting by mail to My accounts manage and TradeIFX Support to cantact me to get withdraw atleast 200 USD of my investment from 10th of September 2021 still no response and nobody is contact me but my account is still live now with above equity and loss . I dont know why?

        I am disappointed much with those people. If anyone wants to trade please trade any trust-able platform, In your dream also don’t think about this much of cheating company.

        1. Janani Vasu Raghav

          Dear Jitendra,

          I Hope Tradeifx is not a Scam, Just now got call from my accounts manager and get positive answer and waiting for my withdraw amount. Once I get withdraw I will update the same. Hope to get my money soon.

          Regards

          Janani Vasu Raghav

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