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Impex Trading Review - is it scam or safe?

Impex Trading review - Is trading-impex.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Impex Trading
Impex Trading is an offshore broker. Your money is not safe.

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Although at first glance Impex Trading Limited looks like a forex and CFD broker, in reality they are offering their clients managed accounts - a highly controversial practice, especially when we are talking about a “market maker” with a questionable regulatory status like Impex Trading Limited.

 

Trading account  Min. deposit Max. leverage Spread
Standard Account n/a n/a n/a

 

Impex Trading Advantages:

 

Supposedly a wide range of trading instruments

 

We always try to present any positive feature about a broker in the beginning of our reviews and with Impex Trading Limited that might be the selection of trading instruments. The broker promises “a wide range of services and opportunities to get access to stock and OTC markets (including forex)”. Still if you want to trade the forex markets we suggest you try one of our regulated brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Impex Trading Disadvantages:

 

Questionable regulation

 

Impex Trading Limited is registered offshore in Vanuatu – a small atoll in the South Pacific. And they say to be licensed by the Vanuatu Financial Services Commission (VFSC). In the same time all payments are processed by Leon Invest, a limited liability company incorporated in Russia.

 

Bear in mind that a Vanuatu license can in no way be compared to a license issued by a reputable financial watchdog such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC), and the reason for that is quite simple - the authorities in Vanuatu lack the resources to oversee internationally operating brokers.

 

Basically the only requirement for a Vanuatu license is to deposit a security bond of approximately 50 000 USD with the local Registrar of the Supreme Court in Port Lila.

 

In comparison FCA brokers for example are required to hold at all times a minimum operational  capital of at least 730 000 EUR, to keep their clients money in a segregated, trust account, to file regular reports, to allow external audits and to participate in a client compensation fund that basically insures your trading capital for up to 85 000 GBP. So here you may also check our list of brokers regulated in the UK:

 

>>FCA Regulated Forex Brokers<<

 

Managed Accounts

 

It appears that what Impex Trading Limited are actually offering, are just managed accounts, for which they say they collect management fees, apart from “brokerage commissions charged on any investment transaction”, whatever that means.

 

 

The big problem here is that Impex Trading Limited is a market maker, meaning they make profit when you lose money and vice versa. So if you trust your money with a market maker, naturally they will have the incentive “to lose them to themselves” – basically this is a recipe for a scam. 

 

No information about the trading conditions

 

A legit forex and CFD broker will accurately detail their trading conditions on their website and will provide you with the opportunity to open a demo account. Impex Trading Limited will not allow us to open a demo account immediately and they say nothing about their spreads, leverage or minimum deposit requirement.

 

No information about the payment methods available

 

And this is another piece of information that we miss on the Impex Trading Limited website. They do not mention what payment methods do they accept. Just bear in mind that most brokers accept payments with major debit or credit cards like VISA and MasterCard, bank wire and e-wallets like SkrillNeteller and PayPal. Some even accept payments with crypto coins so here you may check our list of brokers, where you can pay with bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

No information about the trading platform

 

The choice of a trading platform is a major one. There are several well developed platforms on the market, of which we should mention the MetaTrader4 – the most widely used one, featuring numerous market indicators, excellent set of advanced charting tools and even customizable trading robots, with which you can easily run algorithmic trading sessions. So here you may also check our list of brokers supporting the MetaTrader4:

 

>>MT4 Brokers<<

 

Conclusion:

 

Impex Trading Limited has a shady regulatory status and what is even worse they seem to be offering managed accounts – something no legit broker will ever do. In any case, here we will repeat our usual advice to trade only with brokers, holding legit licenses from reliable financial regulators like the FCA in the UK, CySEC in Cyprus or ASIC in Australia.

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Traders` reviews for Impex Trading

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