IDB Trades Review
Welcome to our review on IDB Trades. We will exhaustively demonstrate why you should not invest with this broker just like DomusFX.
Who is IDB Trades?
This is a forex broker registered as Baltic Concert LLP. The company address is 86a Constitution Street, Edinburgh, Scotland, UK, EH6 6RP.
Is IDB Trades Legit?
IDB Trades is not regulated. FCA has issued a warning on this company in this regards. This is one of the major indicators of fraudulent brokers. They are never regulated by the industry regulators.
All the account types offer leverage of about 1:200. We need to keep one thing in mind, and that is you should go for the minimal leverage if you are a novice trader. Higher the leverage higher is the risk.
Ideally, you should opt for the basic account when signing up with a trading platform. IBDTrades has four different account types. This includes mini, standard, gold and VIP. You do not get the basic trading tips if you opt for the mini account. The trading alerts are also not available with the mini account.
Secondly, the customized plan is only available with the VIP account. The truth is that you need the maximum help when you are starting with your trading career, so IBD Trades disappoints you here.
In addition to that, IDB Trades website mentions that you get a welcome bonus when you sign up with the platform. However, the detail regarding the bonus is not available on the site. This platform keeps the trader in the dark about the offered bonus amount. The bonus details should be clear on all the accounts offered by the broker.
IDB Trades claims that they offer risk-free trades. Ideally, the details of the risk-free trades should have been mentioned with the account types. However, it is not the case here.
We cannot recommend this broker at all. Their offers are so enticing which is characteristic of scams. They always want to lure investors then run away with their resources. Avoid it by all means to avoid regrets.
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