Intera Brokers Review: interabrokers.com a Scam - Topedgefx.com

Intera Brokers Review: interabrokers.com a Scam

Welcome to Intera Brokers review.

InteraBrokers offers 4 different account types with minimum deposit starting at €1,000.

The company provides trading in currencies, stock, commodities, indices, Crypto and CFDs in general.

In addition to this, Intera Brokers is offering a 100% matching welcome bonus in all the 4 account types.

You should be very careful with brokers offering welcome bonuses because such bonuses often come with restrictions that work against you.

Furthermore, Intera Brokers does not allow scalping on their platform.

They have a strict no-scalping policy on their website and they even threaten to close clients’ accounts in case of scalping.

With a bunch of rules to follow, one may be totally discouraged from signing up with a broker like Intera.

It should be noted that interabrokers.com is also an unregulated broker operating from St.Vincent and the Grenadines.

Intera Brokers review

They list their address as Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont Kingstown and phone number as +44 203 4555 333.

Unfortunately, there’s no information about the company behind this broker.

If you add this to the fact that they are unregulated, you will have a broker who is anonymous and illegal.

To learn more about Intera brokers, keep reading this review.

Intera Brokers review

This broker runs the popular MT4 trading platform.

Intera Brokers offers WebTrader and Mobile Trader platforms for clients who would like to use their browser or mobile devices to trade the financial markets.

Intera broker facilitates learning using one-on-one training sessions with their clients.

They also claim that webinars and a Facebook education group is provided for free.

Also, not all of their account types are ECN/STP. This means that the broker is a market maker as well.

A market maker does not route trades into the market. Instead, they create their own trading conditions and act as counter-party to trades placed by their clients.

This is usually disadvantageous to the trader since there’s always conflict of interest in this type of trading environment.

The consequences of trading with such a broker is that they will do all they can to deny you profits.

If they can’t beat you, the broker knows that he will lose money and close down business.

That means even freezing your account is possible if you keep making profits.

Also, if Intera Brokers claims that they’re offering ECN or STP trading environment in some accounts but not all, chances are high that they don’t offer ECN/STP trading at all.

If you need brokers who offer real ECN/STP trading conditions, visit this page for a list of our recommended brokers.

InteraBrokers Account Types

They present their 4 account types with the fewest words possible. In fact, the features sound vague and convoluted.

Interabrokers has listed the following account types:

[tabs][tab title=”Bronze”]Minimum deposit:€1,000

Live chat customer service

Access to all platforms

[/tab] [tab title=”Silver”]Minimum deposit:€5,000

Account representative

Video analysis

Advanced research

[/tab] [tab title=”Gold”]Minimum deposit:€25,000

Trading signals

ECN/STP trading conditions

Free bank wires

[/tab] [tab title=”Intera Account”]Minimum deposit: $250,000

Free bank wires

Preferred service

Individual pricing

[/tab][/tabs]

Intera Brokers has set the minimum deposit very high.

Most brokers don’t have their minimum deposit at 1000 euros.

In fact, brokers are now accepting as little as $50.

A less experienced trader or someone who is not confident about a broker like Intera may not feel comfortable transferring a large sum of money to this broker’s account.

Spreads, leverage and fees

Interabrokers does not disclose their spreads, leverage or fees. It’s important for all brokers to disclose this information on their pages.

High spreads mean you’ll pay more to trade. Low spreads mean you pay less. However, Intera Brokers only claims they offer low spreads.

We need the specific numbers to know how costly it is to trade with Intera.

Secondly, no leverage numbers have been published on the website. Traders need to know the amount of leverage they can get from this broker.

Remember less experienced traders should not apply for leverage of more than 1:200.

If you’d like to trade with a regulated broker that offers up to 1:500, sign up with Octafx broker on this list.

We’re also denied information about the applicable fees associated with transfer of funds to and from this broker’s website.

Intera Brokers only claims that wire transfers above starting 25,000 euros will not be charged any fee.

This is definitely too good to be true as no bank will process this amount of money without charging anything.

Intera Brokers is not regulated and company is anonymous

There are many brokers that operate from St.Vincent and the Grenadines. Most of them are clearly scam brokers.

For a broker to qualify for a license, they must be a registered corporation with company information clearly disclosed on their website.

Brokers in this jurisdiction are regulated by the Financial Services Authority of St. Vincent and the Grenadines. 

You can also check this website to learn about who the regulators are in this country.

Now that Intera Brokers is not regulated in a country that has a credible financial watchdog, traders should avoid them altogether.

A regulated broker provides traders with the peace of mind they need when transferring funds and trading on the platform.

They have a set of guidelines which they must follow or they’ll risk losing their regulator’s license.

Regulated brokers are also members of a compensation fund that will ensure that traders are compensated in case the company becomes bankrupt.

InteraBrokers does not provide traders with this advantage.

Conclusion

A broker that doesn’t allow scalping is definitely a market maker who earns when traders lose.

A broker like Intera Brokers is also not regulated which means there is a risk of losing funds if you actually transfer your money to them.

The company behind this website is anonymous which is the third red flag to consider. On top of this, Interabrokers does not disclose their trading conditions.

This makes them look unprofessional and not worth competing with mainstream and regulated brokers like Octafx and FXchoice.

Thank you for reading this Intera Brokers review.

I would like to read your comments now.

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