Beware! Imarkets.in 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.
Imarkets.in is a pure scam. It lies about everything, can provide absolutely nothing, and is essentially just a fraudulent website created to swindle people out of their money. In fact, the website is very similar to many other scam signs, so it’s basically a template used over and over again by scammers. What proved it was the absolutely insane claim that the so-called company’s market cap is $198.76B. Absolute nonsense! You should avoid this FX creature, and if you still have doubts, see the rest of the review to find out why.
Imarkets.in Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
Imarkets.in is not regulated, so your funds won’t be safe. As already mentioned, Imarkets.in is simply an anonymous website created by scammers that is stuffed with all sorts of fabrications. For example, Imarkets.in is said to be regulated by some of the most respected authorities, including CySEC and ASIC – a blatant lie.
Other deceptive content is the claim that negative balance protection and segregated funds are provided. We can carry on with their lies for hours, but it won’t make sense, after all. What you need to remember is that Imarkets.in is not a broker, but a simple scam site you should avoid at all costs. Find real FX companies instead.
Choosing your broker may very well depend on where you are located. For British traders, it’s always best to go for a company licensed by the Financial Conduct Authority (FCA). In the EU, the majority of companies are regulated by CySEC in Cyprus; for Australians, you’d better look for ASIC brokers; in the US, it’s best to stick to CFTC/NFA brokers. And if you live somewhere else, where, for example, the local Forex regulations are not mandatory, it’s still recommended to trade with FX companies regulated by respectable authorities. They provide segregated accounts, negative balance protection and, depending on the country, deposit insurance funds may be available. For example, clients of CySEC brokers can claim up to €20 000, while in the UK, the coverage is up to £85 000 per person.
Here, you can see some false claims.
Imarkets.in Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Imarkets.in pretends to offer the best platforms, including MT4, MT5 and cTrader, but as you can guess, they cannot offer anything whatsoever. In fact, after registration, we couldn’t even find a Webtrader of a sort or a chart, which shows that Imarkets.in cannot provide trading services. It’s a scam broker.
Speaking of MetaTrader 4 and MetaTrader 5, both platforms are considered the best options for retail Forex. MT5 is the newest and is considered the better version, but even if you trade with MT4, you’ll still have access to automated trading, custom indicators and plenty of analytical tools.
More false claims here:
Imarkets.in Trading instruments
The reported trading instruments are many, but in reality, there is nothing to trade at all. When you get right down to it, no working platform means no trading service – it’s as simple as that.
Imarkets.in Spreads and cost of trading
Same story here. It’s pointless to talk about the costs of trading when there is no service, but the lies are worth mentioning. Imarkets.in claims that it can offer zero spreads, aiming to mimic the best brokers in the industry. Avoid this scam.
Imarkets.in Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
The reported maximum leverage is 500:1, a ratio we cannot confirm, of course. Nevertheless, it’s worth mentioning that 500:1 is prohibited by both ASIC and CySEC, so the leverage offer itself proves that Imarkets.in cannot be a legitimate broker.
Imarkets.in Deposit and withdrawal methods
|Deposit time||Withdrawal time||Price|
|Crypto||24 hours||24 hours||Fee depends on crypto|
The funding methods are cryptocurrencies only, which is a major red flag on its own. Crypto deposits are preferred by scammers because each transaction is final, and there is no way for customers to claim their funds once they deposit. It’s always a scam sign if a broker refuses to accept Credit/Debit cards, as this method allows chargebacks for up to 540 days – a possibility fraudsters strongly dislike.
Imarkets.in Minimum deposit
The minimum deposit is $200, not a huge sum, but still considerably bigger compared to other brokers. Some companies will let you trade for as little as 5 dollars, so considering Imarkets.in doesn’t make sense anyway.
Imarkets.in Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Imarkets.in / offshore brokers||Not specified||Not specified||Not specified|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
There is nothing about withdrawals, so Imarkets.in finally stopped with their deceptions. It’s a fraud, so no withdrawals should be expected at all, as fraudulent schemes like Imarkets.in will never let people get their money back. In fact, the scam is poorly executed, so we believe it’s unlikely that victims will suffer serious losses. Even if you are a newbie in Forex, you’ll quickly realise that Imarkets.in is a pure fraud, so you probably won’t deposit ever again.
Still, no matter the broker, always look for red flags. For example, it would be the ultimate scam sign if they want additional deposits to let you withdraw your money. Scammers always do it.