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Is Infinitrade a scam broker?
The offshore brokerage firm INFINITRADE provides seven account types. The minimum deposit and account types are as follows: Bronze with MD $2500, Silver with MD $2500, Gold with MD $10000, Premium with MD $25000, Platinum with MD $50000, VIP with MD $100000, and CEO Managed with MD $500000. It also provides the leverage of up to 1:400 on all accounts along with the web-based trading platform. Sadly, the INFINITTRADE is unregulated and if you wish to do trading with them you better read this review first.
About the INFINITRADE:
To start with possible advantages of the broker, INFINITRADE provides a plethora of trading instruments like 40 plus exotic currency pairs, CFDs on platinum, palladium, gold, silver, oil, natural gas, copper, coffee, 10 major indices, cryptos, and also some stocks. INFINITRADE provides attractive high leverage up to 1:400. But high leverage meaning high profit or loss. Definitely one of the major factors responsible for the current restrictions adopted by the regulators in Europe, the U.S., Canada, and Japan to cap the maximum leverage allowed for retail clients.
The indisputable disadvantage of the Infinitrade is that the broker is unregulated. In fact trading with an unregulated ashore broker like INFINITRADE makes you vulnerable to be scammed. The organization named A&E Products Ltd owns the INFINITRADE which is based on the Marshall Islands. Also, an organization with the same name A&E Products Ltd processes all payment operations which is based in Bulgaria. Keep in mind the brokers operating in Euro Zone need to adhere to rules and regulations set up by the European Union financial regulators like FCA, UK or CySEC, Cyprus.
INFINITRADE offers you a trading bonus but you have to fulfill a prerequisite that contains completion of trading worth 40 times the bonus to be withdrawn. In accordance, trading bonuses are banned in regulated trading markets. As seen above minimum deposits are 10 times higher than the market average. Some legit brokers do not have a minimum deposit requirement at all. Skrill adopted a new policy that requires all broker to have a legitimate license. The absence of Skrill as a payment or withdrawal method makes it evident that INFINITRADE is a fishy unlicensed organization. Although, this broker accepts payments by other means. INFINITRADE misses on the most popular and trusted MetaTrader 4 platform instead it provides a web-based trading platform.
Is INFINITRADE scam or legit?
Trading with INFINITRADE is not recommend. The broker is unlicensed and unauthorized to offer financial services on regulated markets. Instead, trade with a licensed and authorized broker to keep your money safe and gain profit.