Caution! IFXTM is an offshore company! Your funds may be at risk.
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IFXTM Key Features
🔴 IFXTM’s services are questionable – a warning sign!
🔴 IFXTM isn’t licensed – a red flag!
🔴 IFXTM isn’t transparent – a red flag!
🔴 IFXTM creates unrealistic expectations – a red flag!
IFXTM Products and Services
IFXTM is allegedly a Forex brokerage that offers standard CFDs as well as social trading. As you can see above, each of the top traders you can follow can bring you ROIs of over 500%! However, there are a number of problems we should address!
First of all, we could access no further details about these traders – we could see no daily, weekly or monthly results, charts with their performance or anything else – basically, IFXTM claims that customers can get more than 500%, but doesn’t specify when and why! But that’s just the beginning! In fact, none of the traders you can follow is negative – all of the options to follow are winning huge gains, and that makes us particularly suspicious! No one can be profitable at all times, sooner or later, even the best traders register losses, so IFXTM’s offers don’t seem legit – the whole scheme looks like a fraud! Eventually, IFXTM is similar to any other HYIP promising ROIs that are too high to be true! Beware!
HYIP stands for High-Yield Investment Programme and these businesses usually promise higher ROIs (return on investment) than usual. In some cases, the offers are just ridiculous- up to hundreds and thousands of percentages per day, which certainly can’t happen. To draw a comparison, even the wealthiest banks or investment funds are not capable of delivering more than 10% per year, let alone per day or week. Therefore, the products and services assessment suggests that you’ll be at risk if you deposit.
That being so, it’s worth considering trendy alternatives that can help you build an extra income, such as Forex brokers PAMM managed accounts, social trading or crypto services that may as well fulfil your investment needs. For example, many cryptocurrency exchanges already provide passive income opportunities like BTC and ETH staking but make sure to subscribe to well-known, proven networks.
IFXTM Company and Regulation
IFXTM shares a lot of information, but we found all details disclosed to be fraudulent! For example, as you can see from the screenshot below, IFXTM claims to be regulated, but that’s simply a lie! The CySEC license number is false, and there is no such entry at all, so IFXTM apparently misleads customers with the fraudulent information provided.
Also, IFXTM wrongfully uses some of the corporate information of FXTM – a well-established Forex brokerage operating internationally! So, given the name similarities and the IFXTM’s abuse of corporate details, we can strongly suspect that IFXTM is a clone firm impersonating FXTM – very strong evidence of a scam! Whatever the case, though, IFXTM can’t prove it’s a legit company, and it’s easy to find out that it has no license to sell investment or trading services – more than enough for you to avoid it!
The lack of regulation implies that the people operating this HYIP are working unchecked, meaning they can misuse or misappropriate your funds, eventually bearing no responsibility for their actions. To draw a distinction, regulated investment companies are forced by law to follow certain rules that guarantee the safety of clients’ funds. For example, to get a license, a firm should meet minimum capital requirements that vary from country to country and may also depend on the product specification as there are many types of investments possible- stocks, bonds, mutual funds, banking products, fixed-income, retirements and so on.
In the US, the minimum capital requirement is 20 million USD, which happens to be among the heftiest in the world. Other than that, US financial services companies are also required to keep accounts segregated, thus ensuring that clients’ money can’t be exposed to unnecessary risks or stolen. However, it’s worth noting that the US regulatory framework is very complex as there are numerous financial authorities, among which NFA, CFTC and SEC, to name a few, and all of these monitor companies in one way or another. The US markets may be tricky for the ordinary investor, so make sure to acquaint yourself with the environment before you’ve wasted money on potential scams like the one under review. And you’d better avoid unregulated investment businesses at all times.
IFXTM Address and Contacts
|Address:||IforexTime Limited, 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius – Unverifiable|
|Phone number:||+44 20 4455 7895|
IFXTM’s contact details are unverifiable, and the address actually belongs to FXTM – another proof that IFXTM is a dirty impersonator! The false information aside, we can’t say who these people are and where they operate from, so there is a lack of transparency, which triggers yet another red flag!
When it comes to investing, transparency is crucial as you should know who’s running the investment and where your money actually is. Legit firms always operate transparently and are bound by law to provide the public with basic corporate information, including addresses, contacts and legal documents disclosing all provisions related to the service. And our experience shows that it’s most probably a scam if you can’t reach anyone over the phone given, can’t validate the addresses or can’t in any other way prove that the investment provider has the authorisation to offer financial products.
Iforextime.com Website Info
|Alexa Ranking||2,315,745 at the time of writing|
|WHOIS Reg. Date||2020-01-26|
|Owner||Redacted for Privacy|
|Administrator||Redacted for Privacy|
Is IFXTM Safe?
IFXTM is not safe! It’s a fraudulent website impersonating ForexTime (FXTM), so make sure to stay away from IFXTM, or you’ll lose money to fraud if you deposit with it!
Dealing with HYIPs and other unregulated investment providers is not recommended for many reasons. Above all, the absence of regulation strongly suggests a scam as only regulated firms are authorised to provide investment services. As you probably guess, scams can’t flourish in a strong regulatory environment, so you’d better think twice before you’ve deposited with unregulated investment schemes.
The authorisation is only granted when the firm complies with the requirements and standards, which guides how the entities should treat you as a customer and what sort of information they should give you. Each country’s regulator maintains a register of licensed firms and the investment services that each licensee is authorised to provide. On the other hand, unauthorised firms aim to avoid complying with the controls that legal, authorised entities are subject to, thus leaving investors entirely unprotected. Needless to say, scammers want to get you totally unprotected, and that’s why they always work without a license.
As for HYIPs themselves, many of these schemes operate precisely as a Ponzi because many investors can actually withdraw initially, but sooner or later, the service will inevitably close. HYIPs usually target traders and investors with little or no experience by promising fictitious investment opportunities said to deliver unrealistically lucrative gains. 10% or 100% per day certainly isn’t a legit offer.