There are many trading platforms out there - many with their own rules and regulations. As such, it can be hard to figure out what is a potential scam and what is not. You can get excited and delve straight in without even giving it a second thought. This is why you need to understand what to look for before you trade in the market.
Let us introduce you to Infinox. As with other traders, Infinox places warnings across their site, alerting you of the risks that come from online trading and the chances of you losing money. This is true for many, as people do not have the know-how when it comes to making a trade on the market.
Is Infinox a scam broker? Below, we delve into their business practices, determining how genuine they are.
Who are Infinox?
Established in 2009, Infinox claims to have customers in over 15 countries; they provide competitive trading conditions and premiums internationally. Infinox has been recognised by the Financial Conduct Authority (FCA) in the UK, as well as the Financial Sector Conduct Authority of South Africa (FSCA) and the Security Commission of Bahamas (SCB).
They claim to uphold the company values of Integrity, Ambition, Inspiration, and Excellence and appear to be well respected as they are recipients of several awards within the industry, including the Professional Traders Awards, whereby Infinox was dubbed the company with the best trading account margin rates.
Infinox offers a variety of accounts from an individual account to a joint account or corporate account. Each account allows you to choose a Straight Through Process (STP) or a Cargo Tracking Note (CTN) account. The CTN account comes with additional costs of commission. You can access these accounts on your desktop or mobile phone.
Is Infinox a scam?
Traders have had varying reviews when it comes to using Infinox. Some claim it is a genuine broker while others have accused them of manipulating the charts; however, this has not been confirmed by Infinox.
The company has been seen to create a complex web of licenses in other territories causing international traders to not have additional protection.
This being said, the fact they appear to hold a Financial Conduct Authority license does provide them with some integrity; however, bear in mind if you are an international trader, your account will not be regulated with the FCA, but with the SCB or another region where the trader protection laws vary.
It is worth remembering that no company is going to openly advertise if they are a scam, which is why doing background checks and additional research before making any trade on any platform is vital.
At Wealth Recovery Solicitors, we use the latest technology to recover the money for those who fall victim to scams. Our specialties include court injunctions and complaints to brokers. You can call us on 0203 695 9239 or fill out the form on our website where you can provide us with details on the best day and time to contact you.