iPromarkets Review

About iPromarkets

iPromarkets claims registration with the Financial Services Authority of Saint Vincent and the Grenadines (SVG FSA) under the registration number 450 LLC 2022, and states the use of the MetaTrader 4 trading platform along with a minimum deposit requirement of $100 and maximum leverage up to 1:500 (). The SVG FSA does not regulate forex brokers, meaning iPromarkets operates without oversight from recognized financial regulators such as the FCA, ASIC, or CySEC ().

The domain ipromarkets.com has been added to the blacklist by the Spanish regulator Comisión Nacional del Mercado de Valores (CNMV) for operating as an unregistered/unlicensed provider of financial services, with this action dated August 9, 2024 (). Multiple user complaints report that iPromarkets has blocked withdrawals and is likely fraudulent in nature; its registration with the SVG FSA has been cancelled, and operations appear ceased ().

Pros and cons

Pros

• Offers the widely used MetaTrader 4 platform on desktop, web, and mobile ().
• Relatively low minimum deposit ($100) and high leverage up to 1:500, which may appeal to new or aggressive traders ().

Cons

• No regulation from credible financial authorities; registration via SVG FSA does not grant oversight or investor protection ().
• Blacklisted in Spain by CNMV for unauthorized financial services ().
• Numerous reports of withdrawal issues and alleged fraudulent behavior ().
• Operational status appears suspended or ceased, with access to the website currently unavailable ().