Ibell Markets has one of the most appealing website designs when it comes to trading. The results, however, don't come anywhere close to their looks. Complaints have been coming in from members who can't get access to their accounts. It looks like the platform is slowly deleting login credentials from members. There's no word from ibellmarkets.com as to why this is the case. Learn more about it in our detailed IBELL MARKETS REVIEW.
The platform claims to have a passion when it comes to trading. There's the statement the platform provides high-quality financial brokerage services. And this statement will be the basis of our IbellMarkets review.
What constitutes as a high-quality financial brokerage service provider? From what we can tell, Ibell Markets is far from it. The platform is facing serious allegations of online fraud. And we believe regulators plan to ban it.
We have seen these types of platforms pop up from nowhere. These platforms will come with insane promises of helping investors make high returns. But, unfortunately, it turns out that it's the last you hear from them after depositing.
It would be best if you focused on getting verified investment platforms with a proven track record. These platforms offer investors the chance to make good on their investments. In addition, you should try out coin staking and DeFi as part of your investment.
There's no way you will get a penny from an unregulated platform. The fact that the platform fails to apply for a license speaks volumes. It goes to show the lack of concern regarding the safety of funds.
Before you embark on a journey of financial investment, you need to do due diligence. Your first step should be to do some digging on the platform. Try and find out what others are saying about it before committing fully.
Ibell Markets offers investors four account plans. These plans include Basic, Standard, Premium, and Elite. In addition, all of the accounts come with distinctive features such as different commission amounts.
Here's a closer look at each of the four accounts;
Basic
The start deposit for the basic account is set at $100 to $500. You should know the industry has put $250 as the acceptable deposit for beginners. Any platform asking for more is taking advantage.
Standard
For the standard account, members must deposit $500 to $2,500. The commission per lot is $8 with spreads of 8 pips. Leverage for all accounts is set at 200, which is way above the regulator's recommended leverage.
Premium
You have to deposit $2500 to $15,000 to start enjoying the premium account. There are 64 currency pairs available on all accounts. The account is best suited for discretional traders. All trading styles are allowed with the premium account.
Elite
The commission per lot with the elite account is set at $2. Members have to deposit $15,000 to $50,000 to start trading with the platform. There's an option of an Islamic account with one-click trading available.
Opening an account with the platform is straightforward. First, you need to fill in your full names and address. Once you register, the platform requires you to confirm your details later. It's odd as confirmation of account is immediately after registering.
During your first withdrawal, the platform will require confirmation. At this juncture, you need to send in certain documents. These include a copy of your ID, bank statements, and credit card details.
We find it hard to believe that the platform wouldn't find other means of verification. The platform can use email or SMS verification methods. It seems the platform is harvesting banking information from members.
Ibell Markets claims to offer IB broker programs. With their affiliate program, marketers can make passive income. The only problem is that the platform rarely rewards affiliate members. So you don't get any commission or percentage rewards for any deposit.
And this means the platform is taking advantage of investors. Once you direct anyone to the platform, you both lose. Ensure you sign up with credible investment platforms that reward affiliates.
Fund safety is another feature that you should look for in an investment platform. With safety being a concern, legit platforms guarantee it by having deposit insurance. Unfortunately, it's not the case as the platform doesn't ensure safety.
We also believe the platform is pooling funds in one account. There's no segregation of accounts as dictated by trading regulations. Everyone is depositing funds to one account owned by the proprietor of the platform.
In the event of bankruptcy, no member will receive any compensation. The platform also lacks DDoS protection and SSL encryption. As a result, it makes the platform an easy target for third-party attacks. Your banking information is again put at risk by the incompetent trading platform.
The platform offers five distinctive classes of trading instruments. These include commodities, Crypto, forex, indices, and stocks. You can trade various commodities such as gas and gold. Available crypto assets include Bitcoin, Ethereum, Litecoin, and Ripple.
The platform pairs these coins with one major currency, the US Dollar. When it comes to forex, there are 64 currencies; 48 of these are major pairs. So you won't spread your risk with exotic pairs on the platform.
Members can trade with leading international markets such as DAX, Dow Jones, and Nikkei. However, it would be best to understand that the platform changes its leverage depending on the asset. In addition, there are leading international stocks available for trading, such as the FAANG group stocks.
Although the platform claims to reside in the UK, there's no record of it. We don't know anyone working for the platform. Furthermore, the Company House UK doesn't have and platform registered with the above name.
And this makes Ibell Markets an anonymous investment platform. Anonymity should be the last feature you would want in a platform. There's no telling who handles funds once members deposit.
Another feature to look out for is how supportive the platform becomes. The platform should offer a convenient support structure to investors. These include live chat and a phone number in case you want a more direct conversation.
Despite having a phone number, the line rarely goes through. Members also get a message board where they are to leave any message. Sadly, the platform takes ages to respond. And this means the platform doesn't care about communication.
Members can fund accounts using bank and wire transfers. Listed depository options include Maestro, MasterCard, Neteller, and Visa. Depositing is fast, and the process will take less than five minutes to complete.
Withdrawing funds from the platform is a whole different ball game. The platform seldom allows anyone to withdraw. Those who have managed to withdraw must have a large balance. It helps the platform maintain cover as a legit investment platform.
Ibell Markets is not a licensed platform and should not offer trading services. With a UK address, IbellMarkets should be found on the FCA register. The Financial Conduct Authority doesn't have a platform licensed with the above name.
Please stay away from platforms that share the above features. Make sure to avoid them and only use recommended platforms.
Go for platforms that experts have tested. Today's successful investor uses innovative investment techniques to get ahead. Try it out today.
If you have any questions, feel free to drop a comment or write to us.
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