Is iModTrade Legit or a Scam?
No, iModTrade is not a legitimate firm. They are unable to show the proper license and registration from their origin country. Also, they have some warnings from reputable regulatory bodies. We will discuss these all things in the later sections.
What is iModTrade?
iMod Trade & Investment Company Ltd. is the owner of the online trading broker iMod Trade. Weberstrasse 10, 8004 Zürich, ZH, Switzerland is the address of the business.
The phone number and email addresses for iMod Trade’s support staff are +12673676107 +447456446175 +17786538691, and su*****@im*******.ltd, respectively.
You may reach them online at imodtrade ltd.
Caution and thorough study are necessary before using any online trading platform, including iMod Trade.
iModTrade Details
Regulated by: | No regulation |
Is This Company Safe? | No: absence of a license, including several warnings |
Known Websites: | https://imodtrade.ltd |
Have Warnings from: | FINMA, CONSOB, IOSCO, and FI |
Registered in: | Not registered |
Operating since: | 2022 |
Trading Platforms: | N/A |
Maximum Leverage: | N/A |
Minimum Deposit: | €200 |
Deposit Bonus: | Not available |
Trading Assets: | Crypto |
Free Demo Account: | Not available |
How to Withdraw from This Company? | Payouts do not happen – better contact our legal services for help! |
Deposits and Withdrawals
iModTrade shows that they require €200 as the minimum deposit requirement. They only accept cryptocurrency as their deposit and payout methods. It is clear that keeping only crypto as the payment method means, you will not be able to get the funds back once you withdraw or deposit the payment.
Account Types
We did not get any information from their website. When we click on the “Discover Account” from their homepage, they require us to register first. But, why I should open an account first to see what types of accounts they are offering?
Red Flags and Warning Signs
The dubious company in question does an almost flawless job of hiding the pertinent information while disclosing all the false information and faked certifications issued by a phony agency, the SFCA.
To put it plainly, we looked into the FINMA (Switzerland) and MAS (Singapore) databases right away and discovered simply the alert. Later, IOSCO, FI, and CONSOB all reposted the same caution. It appears that many people consider this plan to be an investment fraud.
After seeing all these warnings from several regulatory organizations, it is clear that this trading platform is not legitimate at all. That indicates right away that your money is neither protected nor kept in separate accounts.
Customer Complaints and Negative Reviews
As the organization’s TrustPilot page demonstrates, the company aggressively uses review seller networks to submit fictitious reviews on online rating services.
Cross-referencing the company profile with other websites, such as SiteJabber, is one way to determine whether the remarks are authentic. For those investors who have already fallen victim to this scam, this serves as a timely reminder to contact our professionals before it’s too late!
iModTrade Alternative Brokers
We already see that this broker only operates in the crypto method. This is not a big crime, but it will be a big crime if they operate without proper regulations and they are doing it. You should avoid this broker and choose other alternative legitimate platforms on the internet. Here are some alternatives:
Got Scammed by iModTrade? We Help Victims!
As soon as you realize that this or any other scam is a fraud, you should take the appropriate action to get your money back. Kindly notify the relevant authorities about the con artists and then pursue legal assistance.
We can put you in touch with a knowledgeable chargeback and fund recovery team to take care of your case if you get in touch with us right away. Don’t forget that the initial consultation is free!
