Beware! Interbrokers.io 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.
Interbrokers.io is nothing special, in fact it’s very limited in both what it delivers and the way it executes this. Тhe website is limited in that special way, where everything is confined to a single home page. Aside from the legal documents, everything else is confined to the home page. In our experience, this has never been a very good thing. All previous brokers who had this were either new or unregulated. And everything point to Interbrokers.io being the latter. Read the review to find out why.
Registering was a breeze, and it took us less than half a minute to complete the account creation process. The leading user area was a reflection of the general feel of the entirety of Interbrokers.io. In other words, nothing special, and rather disappointing. Thankfully, we were able to reach a trading software with an issue on which we opened a live account without issue, which is not the best thing to be offering to just about anyone,
The leverage is capped at 1:200, which is quite low for an offshore broker.
The spread is surprisingly at 1.1 pips on average, and it does not seem that there are any commissions. However, Interbrokers.io is not trustworthy and thus we cannot fully rely on it. We mean that it might have some hidden commissions on spreads.
The web trader revealed that the available tradeable assets are forex currency pairs, shares, commodities, cryptocurrencies, and indices.
The website is available only in English.
INTERBROKERS.IO REGULATION AND SAFETY OF FUNDS
The company is owned by Irontank Ltd, the holding firm. The broker wants to make its users believe that it is registered in Belize. However, nowhere does there exist evidence that the company is regulated by the International Financial Services Commission. The website of the regulator has no proof of this, nor does the broker actually claim to be holding a license from the regulator.
Furthermore, the terms and conditions as well as the rest of the legal documents are greatly in lack of regulatory information. As for the home page, it really does not strike us as one that a regulated broker would use.
There isn’t anything else to put into the small pile of evidence. Thus we have to reach the verdict that the broker is NOT LICENSED
Investing in unregulated brokers is kissing your money goodbye. Always look for a license before investing into a brokerage, most preferably from either the FCA or CySEC, but also from other renowned agencies. These regulators have strict rules and prerequisites that all brokers must follow, or otherwise, penalties or foreclosure may follow! What’s special about the FCA and CySE said that they offer reimbursement schemes to all users of brokers that they regulate, covering their losses if the broker becomes insolvent. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
INTERBROKERS.IO TRADING SOFTWARE
The web trader here is your typical unregulated brokerage trading software. It’s nothing special, and it’s underwhelming at best.
chart indicators, time frames, live news, some chart customization options, and pending order types. These are the main features of the web trader, and beyond them, there really isn’t anything to keep users invested.
There is even an app of the web trader provided by the broker. This is not something that we see every day.
The trading software might just be the highlight of this otherwise disappointing broker. However, it isn’t nearly enough to redeem it from its unregulated and probably scammer status.
INTERBROKERS.IO DEPOSIT/WITHDRAWAL METHODS AND FEES
The only depositing method is through Payotop, which actually allows users to invest through a credit and/or debit card. The minimum deposit is $250.
The only thing we learn from the withdrawal section is that requests are processed within 7 days. The rest of the withdrawal information will be taken from the website.
Users must trade 1% in trading volume equal to the user’s initial deposit prior to withdrawing, otherwise, the company will charge the user a 4.5% charge. The same methods used for depositing are used for withdrawing. Seeing that this is an unregulated broker, there might be other fees and commissions, hidden ones that Interbrokers.io applies at any time.
With all that said, we cannot really recommend this broker to anyone, for this is not only an unregulated firm but also an unrewarding and unfavorable one! Do not invest here if you cherish your money and time!
How does the scam work?
Online ads that seem extravagant, promising impossible returns, are the entry point into an investment scam.
When a user clicks on the ad, he or she will be redirected to one of the following: a scammer broker site or an intermediary website. The user will then be asked to provide a phone number or a phone number.
Giving in to these ads will lead to a deposit, initiated by the first level of fraudsters, whose skill as negotiators should not be underestimated. Once an initial deposit is made, the user has entered the scam.
The core fraudsters, a.k.a “account managers”, will try to keep users invested in the scam until the user does not realize he/she is being scammed. Usually, it takes around 2 to 3 deposits to realize something is off. The fraudsters might pay some profits, just to keep the client invested.
Once the client realizes she is being scammed, the broker would have either closed her account, shut down the entire website, or simply will not allow for a withdrawal.
What to do if scammed?
A credit or debit card scam is one in which users can most easily get their money back, through a chargeback procedure. MasterCard and VISA have a chargeback period of 540 days.
If the user has given the scammers money through a bank transfer then they must ASAP change bank account username and password and only then proceed to contact the bank, asking them for direct help.
Money invested through a crypto wallet is gone for good, because crypto transactions are untraceable!
Users might stumble upon these so-called recovery agents or agencies. They will say that they can recover lost funds in return for a hefty service fee. Needless to say, after the user falls for this, these agents will never be heard of ever again!
Rich Snippet Data