Intrao review will tell you why you shouldn’t trust offshore brokers, especially like this con artist. At first glance, their website does look legitimate, but when you start doing some deep research and checking the facts they are claiming to be true, a lot of concerns and red alerts start showing up.
Unlike some scammers we came across, this offshore agent has spent a lot of effort into looking like a real-deal business. That means we are dealing with a sophisticated scam. Keep reading this Intrao review to learn how to keep your money safe.
|Headquarters||Saint Vincent and the Grenadines|
|Broker Type||Forex broker|
|Platforms||Web Trader, iPhone, Android, and Tablet Trading app|
Regulation and Security of Intrao
Intrao is located in Saint Vincent and Grenadines, a county known for being a paradise for scam artists. The local Financial Services Authority declared that it does not license Forex and other types of brokers and does not supervise the activities of international companies engaged in such activities.
Also, there is a disclaimer on their websites, where it says that Intrao does not provide services for residents of many countries, like the United States of America, Israel, Cuba, India, and many others. They also don’t provide their service to the residents of their own country.
Intrao is an unregulated and unsupervised firm. You shouldn’t go with them.
Trading Platform at Intrao
Intrao allegedly provides Web Trader, iPhone, Android, and Tablet Trading apps. However, since our account wasn’t approved we couldn’t confirm this. But, we guarantee you that they don’t have a functional platform. This is just a cover-up.
Also, they don’t have demo accounts, which is a common thing for legitimate intermediaries. It’s great for learning and practicing. Credible broker companies, like the ones we recommend at the end of this article, have great working software.
Intrao Trading Instrument
Intrao allegedly provides trading of currencies, energy commodities, cryptocurrencies, currency options, precious metals, and soft commodities. Of course, you have probably learned so far that this phony offshore company should not be trusted.
They offer five trading accounts:
Their minimum deposit goes from 500$ to 150,000$, depending on the account. As you probably already know, this is an absurdly high amount of minimum deposit. With trustworthy brokers, it is a couple of times lower, and it varies between 10$ and 100$.
As for leverage, Intrao offers attractive leverage starting from 1:100 to up to 1:600. High leverage may be a trading feature as it allows you to trade with higher amounts than your initial deposit, however, it may also magnify losses if the market moves against your direction. It’s risky.
Intrao Deposit and Withdrawal Method
With Intrao, you can make deposits only in Bitcoin, which is rather odd. Legitimate brokers provide a variety of paying methods, like credit and debit cards, wire transfers, or popular e-wallets like PayPal. Some legit brokers accept cryptocurrency payments, but they don’t limit you to paying only with them.
In the Terms and Conditions, we have found mentioning one fee, and it’s for an inactive account. This fee is extremely high, and it’s 50$ per month after three months of inactivity. After those three months, it increased to 100$ per month.
These are all things that add up to our conclusion, that they are outright scammers. You should not risk your money and go with them. Especially where there are several real-deal brokers.
How The Scam Was Carried Out
The first thing that fraudsters do is to make you believe they are a legitimate business. And that they are providing you with some of the benefits that others don’t, because they are the good guys that understand your problems, and want to help you.
The thing is, this informal type of communication and unusual benefits are not a surprise, since they are operating illegally. There is no real trading going on, it’s all a disguise, and behind it is a scheme that’s stealing innocent people’s money.
Best Performing Forex Brokers
We are aware that all these fraudsters can be overwhelming, and that’s why we have listed for you some of the best Forex brokers. They are top-tier, and their ratings say it all. Also, their minimum deposits are standard, and trading platforms are the best. They are authorized for their services, which is the most important.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Intrao is an offshore broker company that’s located in Saint Vincent and Grenadines. This is a favorite place for fraudsters because this country doesn’t regulate Forex brokers. This means they aren’t authorized for the services they are offering, and you should stay away from them.
Their minimum deposit is very high, and with other shady things mentioned about them, you don’t want to have anything with them. Things like segregated accounts, negative balance protection, and guaranteed funds never go along with offshore brokers. Go the safe way, and pick one of our recommendations.
FAQs About Intrao Broker
Is Intrao Legitimate Broker?
Intrao is not a legitimate broker. They are located in Saint Vincent and Grenadines, a favorite scam artist country, due to lack of regulations.
What is the Minimum Deposit for Intrao?
The minimum deposit for Intrao is 500$, which is absurdly high. Credible brokers charge much less.
How Long Does it Take to Withdraw from Intrao?
With offshore brokers, you are probably never going to see your money back. It doesn’t matter what they say.