Hunting for scam brokers has brought us to the IntraO broker knavishly impersonating a valid brokerage company. As a matter of fact, we are a little confounded by the fact that this trading scam has been around for some time (since 2016) and hasn’t yet come under the scrutiny of financial authorities. Anyway, it is just a matter of time before IntraO becomes blacklisted.
We want to warn you that this illegal broker is focused on scamming traders from Portugal, US, UK, Canada, France, Germany.
So, if you are based in those countries as well as in any other state, please continue reading our IntraO review bringing this investment scam to light.
Additionally, we strongly advise you to avoid the fraudulent brokers VTindex, RXKCapital, and AllCryptoCapital.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Minimum Deposit:||500 USD|
|Cryptocurrencies:||Yes (Bitcoin, Ripple, Dogecoin)|
|Types of Assets:||Crypto, forex, energies, precious metals, soft commodities|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
Is IntraO Scam or a Legit Forex Broker?
According to its website, IntraO is headquartered in SVG, claiming to be regulated by SVGFSA (Saint Vincent and the Grenadines Financial Services Authority). However, there are two hurdles here. First, there is no such entity as IntraO in the FSA registers, and second, this authority doesn’t regulate forex brokers. Speaking of which, SVG is a safe haven for offshore-based trading scams. Therefore, it can be concluded that IntraO is an unlicensed and unregulated brokerage service. This implies that, as such, it can be involved in fraudulent trading activities without consequences.
IntraO is a self-proclaimed award-winning broker that in reality lacks licenses and regulations. Its HQ is reportedly in SVG, a jurisdiction that doesn’t control forex providers. Not only that, this anonymous broker enjoys a poor reputation for rendering unprofessional services resting on detrimental conditions and falsehoods.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Unlike illicit brokers, licensed brokerage companies are held accountable for their actions. If they disobey regulations, they are fined, prosecuted, and suspended. Trading with these forex providers is secure and profitable because of many safety mechanisms.
First, not every broker can become authorized; a company must prove that it is financially stable by satisfying operating capital requirements (several million dollars). Top-tier supervisory authorities like FCA, BaFin, and ASIC enforce the most stringent licensing conditions. They closely monitor every broker and cover traders in case of a broker’s bankruptcy (ASIC compensates for up to 100,000 AUD).
On top of this, legitimate brokerage firms cooperate with top-tier banking institutions, separating your money from their funds (segregated accounts). By doing so, you are not affected by the broker’s insolvency. In addition, these corporations implement negative balance protection, which protects you from losing more than deposited.
What Platforms Does IntraO Offer? – Available Trade Software
Speaking of the IntraO trading platforms, this unscrupulous broker gives empty promises about the availability of MetaTrader 5. In reality, it provides a web trader that is insufficient for successful and safe trading since lacking adequate trading tools. It has some basic features but can’t be on par with contemporary trading programs such as MetaTrader4, MetaTrader5, cTrader, and Sirix. They come with advanced trading instruments like stop loss, fast execution, EAs, social trading, and many more.
Trading App For Mobile Devices
A second trading platform at IntraO is a mobile trading app. However, as it is expected, this software actually doesn’t exist. Per IntraO’s website, when you click on any option for mobile trading (iPhone trading app, Android trading app, or Tablet trading app), you are notified that those applications are not yet available (i.e., allegedly coming soon). In other words, mobile and tablet trading is not available at IntraO. Nevertheless, even if it is possible, it doesn’t negate the fact that IntraO is an outright scam.
What Do We Know About IntraO Account Types?
In the matter of IntraO trading, you have several accounts to choose from. Here is the outline.
- Standard: 500 USD minimum required deposit
- Education: 5,000 USD minimum required deposit
- Specialty: 25,000 USD minimum required deposit
- Pro: 100,000 USD minimum required deposit
- Titanium: 150,000 USD minimum required deposit.
Obviously, these deposits are hefty. So, why risk your money when you can start trading with a reliable broker for as low as 10 USD?
In addition, holders of each account can reportedly trade with over 16K tradable assets across the following global markets.
- Forex: USD/CAD, GBP/CHF, EUR/AUD
- Crypto: Bitcoin, Tether, Ethereum
- Energies: crude oil, natural gas, wind power
- Precious metals: gold, silver, platinum
- Soft commodities: wheat, silk, sugar.
Can a Trader Use a Demo Account?
Regarding a demo account, that option is not available at IntraO, which is so typical of fraudsters. The demo account allows traders to practice trading for free and test trading conditions and platforms. That doesn’t align with the money-hungry mentality of con artists. Besides, it can uncover their true nature. For that reason, you will rarely find a practice account version with scam brokers.
IntraO Awards – Company Achievements
Self-applauding and big talk are common for financial swindlers like IntraO. It falsely claims it holds numerous awards from fake institutions. In this way, it wants to build people’s trust and persuade them to invest. Allegedly, IntraO is recognized as the best crypto platform, the most innovative broker, and for outstanding customer support. Of course, nothing of these is true, just a bunch of nonsense.
Also, avoid the trading frauds XTB Global, Bullden, and TradeBaionics at all costs! Moreover, before investing, always look into the past of internet trading firms!
Deposits & Withdrawals
Concerning the deposit and withdrawal process at IntraO, traders can transfer money to and from their accounts only via crypto wallets. This wouldn’t raise an alarm if you dealt with a legitimate broker. Credible companies also accept cryptocurrencies for funding along with other means of payment that are more secure (e.g., credit cards, bank transfers, and electronic wallets). Other than this, there is no information about IntraO’s withdrawal processing time and fees. Bear in mind that you can’t expect successful payoffs with scammers.
Why Should I Avoid Deposit in Crypto?
Relating to deposits in crypto, you should avoid it by all means. Scam brokers take advantage of the anonymity and irreversibility of crypto payments. For that reason, all fraudulent brokers insist on making deposits in digital currencies like Bitcoin and USDT. However, cybersecurity experts can help you retrieve funds lost to a fake crypto account. More on this later in the article.
What Is Known About IntraO’s Trading Conditions?
With regard to the IntraO environment for trade, predictably, it is unfavorable and manipulated. For instance, a leverage ratio at IntraO is 1:600; this means that on a single invested dollar, you can earn six hundred dollars. It is a great profit but risky at the same time. That is why many financial market regulators limit leverage for retail traders (1:30/UK and EU, and 1:50/USA).
Additionally, each IntraO account includes swaps or overnight fees with a discount (from 15% to 50%) plus tight spreads (but not revealed the pips). Remember, this company fabricates its terms of trade to entice you into depositing and rip you off.
Why Do Scammers Prefer Cryptocurrencies?
As explained earlier, one of the malicious tactics employed by scammers is to demand digital cryptocurrencies when a trader wants to invest money. That is because crypto wallets are almost impossible to trace back, so con artists can get away with it. Also, with crypto wallets, refunds are a real challenge. Fraudsters are well aware of that and cunningly exploit this vulnerability.
Scammed by IntraO Broker? – Let Us Hear Your Story
Anyone can be scammed. So, no worries about that. In that case, it is important to act fast. Inform relevant authorities immediately so that they can debunk the fraud. Also, leave negative IntraO reviews to alert others. Next time, think twice before investing with a suspicious brokerage company. As for getting your money back, read the next section.
But What Is A Chargeback?
For victims of investment scams, a chargeback is a real relief. It is a process of retrieving misappropriated funds. With safe means of payment that can be annulled — like credit cards and bank transfers — it is straightforward. On the other hand, the termination of crypto payments is an arduous task, which requires expertise. For that reason, get in touch with our chargeback specialists that can help you reverse transactions via crypto wallets.