Why Infinitrade Sucks In 50 Words
First of all, this is an unregulated broker, located in Marshal Islands where registering a company doesn’t even require physical presence, which is a reason why a lot of shady brokers choose this location. Secondly, the minimum deposit is a whopping $2,500 USD!!! The industry average is $250 – 10 times lower than Infinitrade – and you can find good, regulated brokers who only ask for $100. It’s almost absurd to trust an unregulated broker with $2,500 right from the start.
Why Infinitrade Doesn’t Suck In 50 Words
The trading platform is offered by TraderSoft, which is basically a good platform, with enough features for experienced traders and easy enough to learn for newcomers. Other than this, there’s nothing worth noting.
Is Infinitrade A Scam?
We try to avoid calling brokers Scam right out the gate, but it’s obvious there are a few red flags with this one. The lack of regulation combined with the confusing wording used when explaining who owns the brokerage, results in a low trust score. And then there’s the huge deposit required to open an account: $2,500?!? Wow, some brokers have VIP accounts that require similar sums. And what’s even weirder is they recommend this account (and the next one, which requires $5K) for beginners. Come on, for beginners, really? Something doesn’t feel right and you should be very careful.
Should I Open An Account With Infinitrade?
Infinitrade is an offshore, unregulated broker launched in 2018 that offers CFD, FX, and Cryptocurrency trading. The website is operated by A&E Products Ltd, located in the Marshall Islands, and trading services are offered by A&E Products Ltd, located in Bulgaria. It is unclear if we are dealing with two separate companies or only one, with two addresses.
If you run out of well-known, established brokers, then maybe you should give it a thought, otherwise, I don’t see why to invest with this broker. One of the few positives is the trading platform, which is provided by TraderSoft. It has acceptable charts and enough technical tools to keep a more experienced trader satisfied but at the same time, it’s easy enough for a newbie to use.
And now for the “bad” part: accounts start at an almost absurd sum of $2,500 (Bronze) and continue with $5,000 for Silver, $10,000 for Gold, $25,000 for Premium, and $50,000 for Platinum. The perks you will get for the higher accounts are not explained thoroughly and some are even confusing: VIP events, independent contracts, and even a premium platform. What is an independent contract? What VIP events? What premium platform? If you want me to give you $50K (because these perks are only available for the Platinum account), you’d better explain in detail.
Education is composed of a few e-books, videos, and a glossary that failed to impress right from the start because they explained that ADI is the abbreviation for Average Directional Index, which is wrong. The correct abbreviation is ADX and any trader should know that, even more so a broker. Thus I have serious doubts about their trading prowess. There’s also a section for Market News but although this is updated daily, which is a good thing, it is very thin and most of it is taken from other sites, not written by Infinitrade analysts.
To conclude, I don’t see anything that would make me deposit $2,500 with this unregulated broker. Infinitrade doesn’t inspire confidence and the trading conditions are lackluster and inferior to what you can find with a regulated broker.
A&E Products Ltd (Company number: 101561) has a registered address at Trust Company Complex Ajeltake Road, Ajetlate Island, Majuro, Marshall Islands MH96960.
A&E Products Ltd (Company number 205722325) has an operating address at 10 Haidut sider ap 18 Sofia City R.A Sofia 1309 Bulgaria). The broker can be contacted at phone +35924929371, +442038076223 and email [email protected]
We’ve managed to locate a lot of complaints regarding failed withdrawals and lost money – you know, the worst it can happen to a trader – but surprisingly also a lot of positive reviews (mainly on TrustPilot). However, considering how easy it is for someone affiliated with a broker to post a positive comment on TrustPilot (or anywhere else for that matter), you should take the positive reviews with a pinch of salt. And if we’re here, you should also take the negative comments with a grain of salt. It’s always better to form your own opinion.
There’s a worrying lack of information about withdrawals. All we could find was that processing time takes between 4 and 7 business days (remember, this is just the processing time, not the actual time it takes for the money to reach you) and that clients can withdraw using cryptocurrencies, debit/credit cards, and bank transfers. The minimum withdrawal is $100.
Although the bonus percentage is not specified, in their Terms and Conditions it is stipulated that clients will have to trade $40 for every $1 received as a bonus and that all withdrawal requests made before this volume is reached, will be canceled. In other words, make sure you don’t accept a bonus if you don’t want your money to be locked by Infinitrade.
Not much can be considered extra with this broker, except maybe the ridiculous first deposit amount. They have an economic calendar and some market news but both are very common among brokers these days and the latter is copied from another site.
Infinitrade Overall Ratings
User Friendliness 12/20
The website is available only in English and information is scarce and difficult to find. The platform is alright but nothing to write home about. US Clients are not accepted; mobile platforms are not available; demo accounts are available.
Range Of Markets, Spreads And Leverage 14/20
All the major asset classes are featured (CFDs on indices, stocks, commodities, currencies, etc.), including a relatively wide selection of cryptocurrencies. Spreads are on the steep side, with around 3 pips for EUR/USD (the industry-average spread for this pair is 1 pip) and leverage goes as high as 1:400 for currencies and 1:5 for crypto. It is unclear if this leverage applies to all clients or only Professionals.
Fees And Support 11/20
When trading cryptocurrencies, clients will have to pay a rollover fee of 0.01% on top of the spread. The withdrawal fee is 5% for credit/debit cards, 10 USD for SEPA bank transfers and 25 USD for non-SEPA transfers. The inactivity fee is big, at 5% every month and starts very quickly, after just 30 days of inactivity. An account is considered inactive if it doesn’t have at least 3 trades, totaling at least 100 USD, so keep in mind, just logging into your account or placing a small trade won’t prevent it from being considered inactive.
Live Chat is not available so the only options are email or phone, but this means you will give them your contact details, so expect (maybe) some unwanted calls if you do.
Deposits And Withdrawals 10/20
The minimum deposit is $2,500, which is outrageous! The available methods are credit/debit cards, wire transfers, WebMoney, PayTrust, and Bitcoin. There’s almost no information about withdrawals, which is a let-down. All we could find is that processing time is 4 – 7 business days (unknown how much time will pass until the money will actually reach you) and we can assume you can get your money back the same way you deposited. If you accept a bonus (exact percentages are undisclosed) you won’t be able to get your own money out until you trade $40 for each $1 received as a bonus.
This broker lacks extra features and doesn’t do anything to stand out. Overall it’s a bland experience, sprinkled with talk about them being “the best” and of course, borderline absurd minimum deposit requirements.