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Imperial Finance Group Review - is it scam or safe?

Imperial Finance Group (IFG) Review - is imperial-finance.io scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Imperial Finance Group
Imperial Finance Group is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit Max. leverage Spread
Classic  $1 000 N/A from 0 pips
Investor    $5 000 1:100 from 0 pips
VIP   $10 000 N/A from 0 pips

  

Imperial Finance Group (IFG) offers trading in forex and CFDs on the good old MetaTrader4 and its clients can choose between the account types listed above. However, we would not advise you to invest with this broker, because it is not regulated and could be involved in scam. You may find more details in the text below.

 

 

Imperial Finance Group Advantages

 

Trading on MT4, solid leverage

Imperial Finance Group offers access to the ever popular MetaTrader4 (MT4) platform. The availability of the MT4 is always good news, as most traders know this trading software and enjoy using it for a number of reasons – it is user-friendly, reliable, and equipped with all a trader needs. More specifically, this platform has one of the best charting packages, great analytics, and supports customizable trading boots a.k.a. Expert Advisors.

 

 

>> Looking for a better MT4 broker? <<

 

 

Besides, IFG offers solid leverage ratios, up to 1:100, which will be sufficient for most traders. Although we generally consider the availability of high leverage levels as an advantage, we feel the need to warn investors that leverage is a double-edged sword. It can dramatically amplify your profits; however, it can also just as easily amplify your losses.

 

 

Imperial Finance Group Disadvantages

 

No financial regulation

Imperial Finance Group says to be owned and operated by Waltika Partners Ltd., a company incorporated in St. Vincent and the Grenadines (SVG). This is an offshore zone, where forex brokers are not subjected to any licensing regime, nor supervision, as the local Financial Services Authority stated.

 

Regulation is the single most important factor for the safety of any investment and the fact that IFG does not have a license significantly lowers its credibility.

 

Blacklisted by Spain’s CNMV

Furthermore, we found out that IFG and the company behind it are blacklisted by the Spanish financial watchdog, the CNMV.

 

 

This is a sign of trouble because the broker obviously targets European investors without being authorized. What is worse, in most cases financial regulators issue warnings against unregulated brokers after they have received complaints and alerts from traders who have fallen victims to scams.

 

High spreads

Although we believe that the cost of trading is not as important as the security of your investment, spreads are still an important factor in the trading world. That being said, it seems that the offer of Imperial Finance Group is not that attractive. According to the information on its website, the broker’s spreads on majors start from 0 pips on all account types, however, when we tested its MT4, we found  the benchmark EUR/USD spread floating around 1.9 pips.

 

 

IFG’s demo web MT4. Click on the image to view larger.

 

 For further information and comparison on spreads, check out the below link.

 

 

>> Compare the spreads of some top brokers in real time <<

 

 

Excessive initial deposit required

To open the most basic account with IFG, you should invest at least $1000 and that in our view is excessive. Most forex brokers require an initial investment of $100 - $250 as a start, and some go even lower. For example, leading UK CFDs and spread betting provider IG, has not set any minimum initial deposit requirement.

 

Limited CFD offering (on demo)

Another thing we noticed while testing the broker’s MT4 is that some popular financial instruments are not present in IFG’ product portfolio. It seems that the broker offers trading in 23 forex pairs, and CFDs on precious metals. Most forex brokers offer more currency pairs and lots of different CFDs, including on indices, commodities, stocks and cryptocurrencies.

 

 

Conclusion

 

Overall, our impression of Imperial Finance Group (IFG) is quite negative. The broker is not licensed, and its offer doesn’t seem very lucrative either.  On top of that, it was blacklisted by the Spanish financial authorities, which alone should warn traders to stay away.

 

All in all, it would be best if investors direct themselves to better trading options. For example, there are plenty of brokers duly licensed in Australia or Cyprus, who offer even better trading conditions.

 

 

>> Wanna trade with a broker regulated in Cyprus? <<

 

 

And finally, here are the highlights of the present review of Imperial Finance Group:

 

Pros Cons
MT4 available No financial regulation
Solid leverage Blacklisted by Spain’s CNMV
  Spreads above the average
  Limited CFD offering 
  Excessive initial deposit required

     

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Traders` reviews for Imperial Finance Group

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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