InfiniTrade. Full and honest review
Like many other brokers, InfiniTrade is used by traders for trading different products. But, when you are reading more about the risks of using some brokers, you might be wondering if InfiniTrade is legit or not.
It is really important to make sure that you know everything there is to know about InfiniTrade brokers before you just start using it. There are many reasons to believe that these brokers aren’t as legit and recommended as what you might think. This is the full and honest review of these brokers that you should know.
More about the brokers
InfiniTrade is known as forex as well as CFD brokers. There are a great number of cryptocurrencies that you can trade with.
These brokers are situated in Bulgaria. This means that this is an offshore company. It seems that they do have a valid address, email address, and telephone number. However, this isn’t the only things that you should look for before you can decide that you can use them safely.
Are they registered and regulated?
InfiniTrade is registered to a local company called A&E Products Ltd. But there isn’t any proof that they are legit and a real company. And, because the brokers are only locally registered, it means that traders are taking a huge risk to transfer money into an offshore account.
Brokers need to be registered internationally in order for them to be regulated as well. It is really important for traders to make sure that the brokers that they are using are regulated as well as internationally registered. And with InfiniTrade, this isn’t possible.
It is important to know what type of platform a broker is using. The better the platform the easier you are going to get profit, and the easier the trading will be.
One thing that you need to know about InfiniTrade is that they don’t make use of the best platform, MT4. They are making use of a completely different platform that you might not know how to use. This can cause some problems along the way. On their website, they are saying that they are using a huge variety of platforms and that it is mobile friendly as well. However, without a demo account, we weren’t able to test it to make sure that they are telling the truth.
Account and minimum required deposit info
They are offering 5 different accounts that you can choose from. Bronze, silver, gold, premium, and platinum. This is one of a few great things about using InfiniTrade. You can choose the account that is best for you. They do offer all the necessary information about each account. Making it easier for you to choose the right one for you.
However, when looking at the minimum required deposit, you will see that the deposit that you need to pay is huge. Making this a higher risk to use. The minimum required deposit starts at $2500 for the bronze account and ends at $50,000 for the platinum account. There are brokers that start with a required deposit of $50.
No history about the company available
With as much research as possible, we still struggle to get some company history about InfiniTrade. Meaning that we couldn’t find information about their founders, and the founder date.
You might think that this isn’t important. However, this is serious because without this information, there isn’t any proof that InfiniTrade is a real business, with founders. Making this a much higher risk to be just another scam broker.
Some e-wallet payment methods not available
Yes, they do offer some great payment methods, and if you don’t know the different e-wallet payments, you might think that their options are great. However, the more popular e-wallet payments aren’t available for depositing and for withdrawing money. They are just offering normal credit and debit card payments, wire transfers and bitcoin payments.
The question that you should be asking is why they don’t offer these payment options. Maybe because these options normally come with a money back guarantee.
What are regulators saying about these brokers
It is important to know what regulators are saying about a broker. This will give you an idea if the broker is recommended and legit. What are regulators saying about these brokers? Can you trust them and use them safely? The answer is no. Regulators are warning traders about using these brokers. Mainly because they aren’t registered and regulated. However, there are other reasons as well, like the high required deposit and the fact that they are offshore brokers.
There are some regulators that are putting official warnings out about InfiniTrade and using them. Some are even in the process of putting them on the blacklist. Meaning that they are a high-risk broker that you should avoid.
One thing that you should know about InfiniTrade is that they aren’t recommended. There are many reasons why you should rather leave them, and start looking for another, more trustworthy broker. They are offshore brokers, not registered internationally and not regulated as well. There is some valid information about them missing, and they do ask for a huge minimum deposit that is making the risks higher. It is recommended that you should rather look for brokers that you can trust and that are regulated.