Beware! ImperialFunding.org.uk is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
ImperialFunding.org.uk is a scam, so we had to name it after its domain in order to avoid confusion. Several legit financial companies are bearing the same name, so we don’t want to associate the sham enterprise we are reviewing with the others. Read the full review to see why we labelled ImperialFunding.org.uk a scam.
ImperialFunding.org.uk REGULATION AND SAFETY OF FUNDS
ImperialFunding.org.uk purports to be headquartered both in Germany and the United Kingdom, meaning that it needs licenses to operate in both countries. Well, it has none, so it shouldn’t display both addresses, as you can see in the screenshot above. ImperialFunding.org.uk is not legit.
However, while assessing the Terms document, we saw the broker claiming to be a brand of A&E Products Ltd– a Bulgarian company, which also happens to be unlicensed. Bulgaria is an EU member that has already adopted the MiFID 2 guidelines, meaning the country’s financial authority FSC is now imposing numerous regulations, including account segregation, minimum capital of €730 000, negative balance protection, leverage restrictions etc. To sum up, ImperialFunding.org.uk pretends to be a legit Bulgarian broker headquartered in the UK and Germany- quite an inconsistency nonetheless. That’s a scam!
However, even if we didn’t have enough evidence of a scam, we would still advise against trading with unregulated brokers like ImperialFunding.org.uk. Such entities are dangerous for numerous reasons, but above all, because they are anonymous and unaccountable. To put it into perspective, the regulations we mentioned in the previous paragraph guarantee transparency, ethical business behaviour and safety for the clients’ funds. Think about it: if you deposit with ImperialFunding.org.uk, you’ll send money to some people with concealed identities who bear no responsibility while handling your funds. Doesn’t sound like a bright straight from the very beginning.
That’s why it’s always better to stick with companies authorised by trustworthy financial regulators like CySEC (Cyprus) and FCA (Britain). Both mentioned force brokers to keep deposits segregated, thus ensuring that clients won’t lose their capital if something wrong happens. The segregation improves transparency, speeds withdrawals up, makes chargebacks easier and generally helps prevent fraud. What’s more, the European FX companies are covered by deposit insurance funds laid down to compensate clients in case of unforeseen events- CySEC brokers’ clients can claim up to €20 000 per person, while the British guarantees are even up to £85 000.
What we mean to say is that ImperialFunding.org.uk is unregulated, and it’s actually a scam, so you’ll waste money on fraud if you deposit.
ImperialFunding.org.uk TRADING SOFTWARE
ImperialFunding.org.uk claims to deliver a world-class web-based trading platform that welcomes traders of all experience levels to invest in a wide array of assets on global markets. Frankly speaking, though, it’s challenging to find a decent Webtrader nowadays, and the only trustworthy browser-based terminals are actually delivered by the most reputable brokers. ImperialFunding.org.uk isn’t at the least reputable. In fact, we couldn’t access any platform whatsoever. As seen from the screenshot below, the broker asks people to deposit if they want to access the software, meaning that virtual money accounts (Demo) are unavailable- a major red flag because each regulated broker is bound by law to provide Demo accounts. ImperialFunding.org.uk is a scam!
What you don’t see below, though, is how terrible the entire Client Area actually is- every single clickable space is dysfunctional and indeed worse than useless.
So, with no platform at hand, we can neither discuss spreads (trading costs) nor leverage (risks). The broker doesn’t mention anything on the matter, too, so we are heading towards the next section, where we’ll show you even more evidence of a scam.
ImperialFunding.org.uk DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit and the funding methods are unknown actually. Judging by the Terms, ImperialFunding.org.uk accepts Credit/Debit cards, Wire Transfers and unspecified e-wallets for deposits, but the funding system was also broken, so we can’t confirm all methods mentioned are actually available.
That being so, we’ll discuss the adverse withdrawal policy. In particular, the minimum withdrawal is $250 for Wire Transfers ($50 fee per transaction) and $100 on other methods ($25+$10 fee). That’s too much, but it’s just the beginning. If clients fail to reach 200 in turnover, they should pay another 10% of the withdrawal sum. If only had the broker explained what “200 in turnover” means. ImperialFunding.org.uk is a scam!
Also, if clients accept incentives, they should execute a minimum trading volume of 25 times the bonus plus the deposit to become eligible for withdrawal. Yet again, no one tells you what 25 times mean, and in such a case, ImperialFunding.org.uk can always misinterpret the clause to reject withdrawal requests. That’s a scam.
The inactivity fees are also fraudulent: 10% of the balance per month after 6 months of inactivity. In comparison, regulated brokers take dollars, not percentages.
HOW DOES THE SCAM WORK
We exposed ImperialFunding.org.uk as a scam, so now you’ll see how Forex fraud usually happens.
So, when fraudsters get hold of your contact numbers, you’ll get a call, promised the moon and the stars if you deposit immediately. And to gain trust, those criminals will usually pretend to work for governments, financial authorities, banks, other reputable companies and so on. Scammers will be confident in what they say, so if you don’t see the warning signs, you may end up depositing fascinated by their fake commitment. However, the fraudulent game actually begins after you send the money. Once they have the desired deposit, the cons will distort prices and forge fake reports to make you believe you are on the winning side, manipulating you to start thinking big and consider more deposits.
Then, the fraudsters will continuously ask you to increase the size of the investment and invent stories to make you deposits over and over again. Sooner or later, though, you’ll get determined to withdraw some money, and then the scammers will ask you to deposit again because, according to their words, there are taxes and fees that you should pay. At this point, you’ll probably realise something wrong is going on, and when the scam becomes too apparent, the cons will simply stop answering your calls and e-mails.
WHAT TO DO WHEN SCAMMED
It would be best if you first call your bank to inform it and deactivate your card to avoid getting exposed to additional risks, as the scammers may as well have obtained your details.
Then, call the police, inform the financial authorities, file complaints and don’t forget to spread the word online so that other people can find out about the particular scam, too. Still, it’s crucial not to rush trying to reclaim your funds as numerous scams are disguised as chargeback agencies set up to double-scam victims.
Finally, we know it’s an awful experience to get scammed, but please share your story to help protect others!