iToroStocks Review
Beware Investors iToroStocks Ltd – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
Who is iToroStocks Ltd:
iToroStocks Ltd is a company that claims to offer online trading services on various financial instruments, such as stocks, forex, commodities, indices, and cryptocurrencies. The company operates through the website www.itotorostocks.com, where it displays logos of reputable regulatory bodies, such as the FSMA, FINRA, Central Bank of Ireland, and FCA. However, these logos are misleading and deceptive, as none of these authorities have authorized or licensed iToroStocks Ltd to provide any financial services.
Regulation:
Regulation is one of the most important factors to consider when choosing an online broker. A regulated broker is subject to strict rules and oversight by a competent authority, which ensures that the broker complies with ethical and professional standards, protects the interests of its clients, and maintains adequate capital and liquidity. A regulated broker also provides access to dispute resolution mechanisms and compensation schemes in case of any problems or disputes.
Location:
According to its website, iToroStocks Ltd claims to have offices in several countries, such as the UK, Ireland, Belgium, Germany, France, Italy, Spain and Portugal. However, these claims are dubious and unverified, as none of the regulators in these countries have recognized or registered iToroStocks Ltd as a legitimate financial service provider. Moreover, the company does not provide any physical address or contact details on its website, which raises further suspicions about its credibility and transparency.
Services:
iToroStocks Ltd claims to offer a wide range of trading services and products on its website. The company says that it provides access to over 2000 financial instruments across various markets and asset classes. It also claims to offer competitive spreads and commissions, fast execution and low latency, advanced trading platforms and tools, educational resources and market analysis, and 24/7 customer support. However, these claims are unsubstantiated and unreliable, as there is no evidence or proof that iToroStocks Ltd delivers on its promises or meets the expectations of its clients.
Reviews:
One of the best ways to assess the reputation and performance of an online broker is to look at the reviews and feedback from its existing or former clients. Unfortunately, iToroStocks Ltd does not have any positive or credible reviews on any reputable or independent platforms or websites. On the contrary, most of the reviews and testimonials about iToroStocks Ltd are negative and alarming, as they reveal that the company is a scam that has defrauded many people of their hard-earned money. Many clients have reported that iToroStocks Ltd has refused to process their withdrawal requests, blocked their accounts without any valid reason, manipulated their trades and prices, ignored their complaints and inquiries, and harassed them with phone calls and emails.
Customer Service:
Customer service is another crucial factor to consider when choosing an online broker. A good broker should provide responsive, professional, and courteous customer support to its clients at all times. A good broker should also be reachable through various channels of communication, such as phone, email, live chat, or social media. Unfortunately, iToroStocks Ltd fails miserably in this aspect as well. The company does not provide any phone number or email address on its website. The only way to contact the company is through a web form or a live chat feature that is often offline or unresponsive. Many clients have reported that they have never received any reply or assistance from iToroStocks Ltd’s customer service team.
Securing Your Investments: Shielding Against Unscrupulous Brokers:
If you are looking for a safe and secure way to invest your money online, you should avoid unregulated and unscrupulous brokers like iToroStocks Ltd at all costs. These brokers pose a high risk of losing your money to fraud or theft. To protect yourself from such brokers, you should always do your due diligence before opening an account with any broker. You should check the regulatory status of the broker by verifying its license number and registration details with the relevant authority. You should also check the reputation of the broker by reading reviews and feedback from other clients on trustworthy platforms or websites. You should also avoid brokers that offer unrealistic or too-good-to-be-true offers or incentives, such as high returns with low risk, bonuses with no conditions attached, free signals or advice, etc.
Conclusion:
In conclusion, iToroStocks Ltd is a scam broker that you should avoid at all costs. The company has been warned by several financial regulators as an unregulated entity that may be involved in fraudulent activities. The company does not provide any reliable or quality services or products to its clients. The company has a poor reputation and a history of scamming and cheating its clients. The company does not provide any customer support or assistance to its clients. The company is not transparent or trustworthy, and it may disappear with your money at any time. Therefore, we strongly advise you to stay away from iToroStocks Ltd and look for a better and more reputable online broker instead.
