IDealTrade Review: You Should Not Trade With This Broker

When we first checked the IDealTrade broker’s website, we thought we were in the right place. The design itself is excellent. IDealTrade is Austrian-based, and there’s a nice offer of trading instruments. However, not everything is as good as it seems.

There is no registration number or license number available and the IDealTrade broker is hiding ownership information. Most probably due to the potential consequences of their acts.

If you would like to contact them, you don’t have any phone number that you can reach. You only have question forms and e-mail as available options.

Thus, we would never trust this broker. But after you read all the details about this broker in our IDealTrade broker review, you probably won’t trust them either, because they are nothing more than just another investment scam.

We also welcome you to read our scam brokers reviews for Crypto Daily Trade and Target Trading.

Is IDealTrade Reliable? Safety and Regulation

When checking a broker’s regulation, it’s important to check all the major Tier 1 regulators registers. And that is exactly what we did when we checked IDealTrade.

First, we checked their domestic regulatory register which is FMA since the broker is claiming to be based in Austria. Of course, we couldn’t find any leads for the IDealTrade trading company. Second, we tried to look in the database of other Tier 1 regulators like ASIC, CONSOB and FCA but it wasn’t successful either.

In other words, IDealTrade forex brand is an unregulated investment scam. Target Trading is also another unregulated fraudulent broker that is trying to pass as a legitimate one, so stay alert.

IDealTrade is not even officially registered in Austria, as they say. Besides that, it’s a completely anonymous company without ownership information. The lack of regulations is just the last straw. On top of that, they have an official warning from the Polish financial regulator KNF.

Overview of the Broker’s Trading Platform

Like many other scam brokers, IDealTrade is advertising its trading software as an “award-winning online trading platform with first-class service, advanced technology, and an exceptional value.

And to no one’s surprise you will get to see just a basic WebTrader. Instead of providing us with something spectacular after such an announcement, IDealTrade gave its traders a TradingView chart with several attached indicators. This type of platform cannot come anywhere near MetaTrader4 and MetaTrader5 which are an industry standard now. 

Web traders that can be seen with scam firms are often controlled by themselves all in order to lure you into a scam. That way you would believe that you are making money without any effort. IDealTrade login is enabled through a dedicated mobile app for Android and iOS.

IDealTrade Account Types

When it comes to the trading accounts, there are 7 different types that the IDealTrade offers and they include the following ones:

• Minimal – $5,000
• Standard – $10,000
• Moderate – $20,000
• Bronze – $50,00
• Silver – $100,000
• Gold – $250,000
• VIP – $500,000

The type of accounts differ in spread, leverage, and lot size. It;s easy to see that this firm pretends to be a boutique brokerage, with the IDealTrade minimum deposit being $5,000.

In all honesty, the minimum deposit is just outrageous. And this is because legitimate and regulated brokers will let you start as little as $5 or even $0.

Another outrageous thing that this bogus broker has done is not offer the Demo account. This means that their agents will push you to open a live account as soon as possible and steal all of your money.

Available IDealTrade Funding Methods

In regards to the deposit methods, they only offer the following two:

•     Visa or Master credit or debit card
•     Wire transfer

We all know that all fraudulent and illicit brokerages offer only the basic funding methods, and CJC Markets is the same. All legitimate and regulated brokers have a much bigger array of deposit methods that you can choose from.

Another thing that just pushed us over the edge is that their deposit is $5,000, which is very high in comparison to real brokerages that will let you start with as little as $5. With all of this being said, we strongly advise you not to invest with IDealTrade!

As for withdrawals, there is a limit of 500$ for wire transfers and a card withdrawal limit of 100$.

We also found that they are doing a withdrawal fee scam. They will tell you before they confirm your withdrawal that you have to pay additional fees. That way they get the maximum out of you and vanish afterward. Be careful of that. This is a common thing with illicit brokers. 

How Does the Scam Intervene?

You’ve probably heard of this type of scam as they are quite common as of lately, such as Crypto Daily Trade that we have mentioned.

It all starts with various internet ads promising you to get the rich fast fairytale. After people get interested and read a couple more or less believable stories of others getting rich just by trading through their platform, individuals get tempted and decide to make an account. 

After that, comes multiple e-mails and calls from various agents telling you how you should invest your money, and of course- the more you invest the more you’ll get.

Although we don’t know their minimum deposit, we are sure an agent contacting you will tell you to invest as much as you probably can and continue to be very persuasive until you say yes and give your credit card information. Be sure that once they get your money, they will disappear.

IDealTrade Summary

In our IDealTrade review, we tried our best to warn you against this scam broker and their fraudulent activities. The broker allegedly offers their customers an opportunity to invest in forex, CFD, crypto, and much more. They have been issued a warning by Poland’s regulatory body KNF, which is just another indicator you are dealing with a scam.

We advise you to always seek reviews about the certain broker you want to work with and if there can be found many complaints made against the broker be sure to avoid them.

You should always think twice before taking any risks while investing money and keep in mind that this investment scam will usually demand high deposit amounts. On the other hand, legit brokers will ask for as little as $5 as an initial deposit.  

FAQs About IDealTrade Broker