IFE Markets is an exact clone of GLB Markets. It seems both belong to the same brand that is trying to deceive investors. The two brands share the same website designs, which make them clones. Both have no regulatory compliance making them a high-risk forex investment option. With naive investors already falling for the platform, we plan to expose the holes on the platform. Here’s our complete IFE MARKETS REVIEW.
One of their selling points is that they are incorporated and registered by the IBC. These are false statements with no documents to prove them. We have on good authority to believe these are offshore brokers trying to fool European investors.
IFE Markets claims to be one of the finest and most secure trading companies. Unfortunately, it’s not the case, as few people have heard of it. Those who have interacted with the platform have had a rough time with the platform.
Many of the investors fail to withdraw funds as a result of the platform’s blockade. It seems the platform is unwilling to release funds from investors. And this makes it a dubious investment platform.
The best alternative when investing is to sign up with proven options that are transparent. Go for investment platforms that enjoy the backing of experts. These options include coin staking, DeFi, and Masternoding.
On their about us page, the platform claims to offer Straight Through Processing. In addition, the platform claims to offer ingenious and enjoyable trading conditions. But, unfortunately, it’s not what members are going through.
Before deciding to sign up with a platform, you need to enjoy learning how to spot red flags. One way is by listening to what others are saying about a platform. You can also read reviews to find out what a platform offers.
IFE Markets offers three account types, standard, premium, and pro. The accounts are similar to those of GLB markets, and there’s nothing new. For example, 1:200 is the minimum leverage, while 1:400 is the maximum leverage.
Here’s a closer look at each of these three accounts
Standard
It’s the most basic account, and users deposit $200 to start trading with it. You only get forex trading instruments with this account. There’s a personal account manager whose access is limited to standard account holders.
Premium
You have to deposit $2000 to start investing with the premium account. The leverage is set at 1:400, which puts more funds at risk in the event of a losing trade. There’s a personal training course and an all-time account manager.
Pro
With the pro account, you must deposit $5,000 to start trading. It’s the most exclusive account type available. In addition, there’s an unlimited demo account as the other two have 2 weeks and one month demo.
Despite offering members account managers, they are of no use. Instead, the platform is availing call agents to act as personal account managers. Instead of offering advice to investors, they solicit funds from members.
You will get several calls from these managers requesting you top up your initial deposit. Those who make the mistake of topping their initial deposit lose double. The account manager will disappear, and the platform will appoint a new manager for you.
It’s what has been happening within the platform and other offshore investment platforms. Call agents are used as account managers who call unsuspecting members. The agents will even claim there’s a new investment option whose window is closing soon.
All you have to do is deposit funds and wait for the profits to soar. We have seen this countless times. The reason we are calling them out is they ensure their names remain hidden. There’s no name mentioned on the platform showing any staff member.
The disclaimer at the footer of their homepage sells them out. According to their statement, their head office is Global Investment House Limited. It’s the same head office belonging to GLB Markets. If you think it’s a coincidence, you’re mistaken.
These are the mistakes they have done allowing us to nab them in the process. Please stay away from the platform or risk becoming their next victim. It’s an anonymous website whose owners want to remain behind the curtain.
Even with the listed phone number, it rarely goes through. When registering, you have to fill in your mobile number. The platform uses this to their advantage by calling you with different lines. If you notice, there’s no live chat support.
With the platform claiming to be an international investment platform, we expect better. Unfortunately, you can only reach them via email or, if in luck, with the listed phone number. We believe these are offshore brokers who reside in Seychelles.
You can deposit using bank and wire transfers. Funding your account with IFE Markets is straightforward. The process takes less than five minutes to complete. Members will have to wait for the platform to confirm receiving funds.
The platform might decide to go forward and fund your account. A few investors claim they funded their accounts, but the amount did not reflect on their trading accounts. Withdrawing funds from the platform is the biggest hurdle facing investors.
We haven’t heard or seen anyone withdrawing funds from the platform. And this is the case with their other cloned website. And this means even an expert trader won’t get the chance to enjoy their labor.
IFE Markets is not a licensed platform and does not hold any valid documents. Despite claiming to reside in three jurisdictions, there are no certificates from any of them. The FCA, FSA, and IBC don’t know of such a platform.
And this means there’s no regulatory framework to protect investors from harsh trading conditions. These include high leverage that puts your investment at risk. So it would be best if you looked for platforms regulated by reliable regulators.
Some of the leading reliable regulators include ASIC, BaFIN, CNMV, and CONSOB. Other regulators include CySEC, FCA, FINMA, and the SEC. These regulators ensure everyone follows the set rules of engagement.
IFEMarkets comes with a custom-made trading terminal. The problem with such platforms is they lack any testing from experts. As a result, you might get the platform is unsecured and unstable, resulting in slow execution of trades.
There’s no safety of funds with a cloned platform that fails to have any regulation. In addition, the platform does not offer any insurance cover to members. And this puts everyone at risk as you never know when they might decide to close shop.
Here are the main reasons why we don’t recommend the use of ifemarkets.com.
These are the reasons why we have to flag down IFEMarkets as a high-risk investment platform.
You can make the right decision by using credible investment platforms. These platforms use creative and groundbreaking investment opportunities.
Feel free to leave a comment or email us with any queries.
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