Idealtrade.co Reviews

IdealTrade Review - Is IdealTrade a Scam?

Money laundering is a crime. Companies can be caught for engaging in money laundering by using their services to make illegal gains. IdealTrade has anti-money laundering procedures in place to help the authorities combat the financing of terrorist activities. IdealTrade's systems document and verify clients' identification records, as well as keep track of all transactions. They also report suspicious transactions to law enforcement authorities. The company's anti-money laundering procedures are in place because it recognizes that the money laundering and terrorist financing activities are serious business.

Withdrawals from IdealTrade are generally processed in two to five business days, but users should review the information carefully. Withdrawals may take a little longer due to third-party charges. Depending on the amount of funds you're withdrawing, the IdealTrade team may need to deduct any third-party charges. The withdrawal process can also be lengthy. It may take several days, depending on your bank and your account type.

Although IDealTrade claims to be based in Austria, it's important to note that a broker in that country must be regulated by the Financial Market Authority (FMA). The FMA is the main regulatory body for the FX and CFD industry in any country. To be legitimate, a brokerage firm must meet certain requirements and be regulated by the FMA. Since IDealTrade doesn't meet these standards, it's best to avoid IDealTrade altogether.

In addition, many IDealTrade reviews indicate that the company's platform is not as safe as many other online brokers. The platform is also prone to fraud. In fact, many of the scams that are reported are linked to the AnyDesk program. This is a classic cheat scheme. Investors unknowingly provide sensitive data to scammers, who then use the money to make their own investments. Fraudsters also often use loans or credit from customer bank accounts to purchase cryptocurrencies.

It is important to research a broker thoroughly before making a decision. Some scams approach people using social media, with fake profiles that advertise trading platforms and share success stories. Do not believe everything you read, and don't spend any money on their trading platform. IDealTrade claimed to be an award-winning online trading platform, but in reality, it's a basic WebTrader with a few attached indicators. The company also makes use of different phone numbers to reach victims, which makes it difficult to identify them if they have blocked them.