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InTrade Bar Review - is it scam or safe?

InTrade Bar Review - is intrade.bar scam or good binary options broker?

RATING: 1 / 0 REVIEWS InTrade Bar
InTrade Bar is not regulated. We cannot guarantee your money is safe.

Trading Accounts and Conditions

 

Trading account Min. deposit Min./Max bet size Payout
Standard  $10 $1/$500 79% on EUR/USD

 

InTrade Bar is actually not a name of a bar, as one might think. This is a binary options broker that appears to have its origins in Russia, but claims to be registered in the UK. Unlike most binary options brokers, this one offers its clients a single trading account and promises high profits in a matter of minutes. The question, however, is whether it’s safe to invest with it. Read on and decide for yourselves.

 

 

InTrade Bar Advantages

 

Low min. deposit and low min. bet size

The minimum bet size with InTrade Bar is also among the lowest in the industry, amounting to $1, while the minimum amount to open an account is just 10 bucks or 500 RUB. Such low minimum investment amounts allow better risk management.

 

A lot of payment methods

Apart from using major credit/debit cards like Visa and MasterCard, InTrade Bar also works with Yandex, Perfect Money, Qiwi, Web Money, IBOX, and AdvCash. The majority of these e-payment systems are mostly popular in Russia and former Soviet Union countries.

 

Demo accounts available

Another good feature of InTrade Bar is that it offers free demo accounts for testing purposes, which is quite unusual among binary options brokers in general.

 

 

InTrade Bar Disadvantages

 

No regulatory oversight

InTrade Bar is allegedly owned and operated by a company with the unusual name Mr Axiano LP. The latter is registered in Scotland, UK. Of course, it is not authorized by the Financial Conduct Authority, nor by the local gambling commission, as binary options trading was banned across Europe last year.

 

Curiously, the broker claims that ESMA’s ban does not affect InTrade Bar because of Brexit:

 

 

Of course, this is not true. By the time of writing this, the parties have not made a Brexit deal, so the UK is still a EU member. Nevertheless, what is more important is the fact that InTrade Bar does not operate legally, and is not subject to any regulatory oversight. This means that clients of this broker are quite vulnerable, because there is no authority to which to turn to in case of fraud. And fraud happens quite often in the trading world.

 

Unproven web platform

As most binary options brokers, this one also offers its services on a web-based platform. InTrade Bar’s trading interface is simple, but lacks any analytics and advanced tools other platforms support. Actually, it feels like a cardboard cut-out with charting powered by TradingView and quotes from major brokerage Forex.com. Here is a snapshot:

 

 

InTrade Bar’s platform. Click on the image to zoom in.

 

Withdrawal fees and issues

When we went through the broker’s client agreement, as we always do when reviewing a certain company, we came across some disturbing clauses. First, InTrade Bar charges fees on withdrawals, which might reach 8% of the amount withdrawn, depending on the payment methor, which is quite high.

 

 

And second, the broker reserves the right to temporarily impose limits on the withdrawal of funds equal to the amount of deposits for the last 30 days.

 

Payouts not that high

Although InTrade Bar promises returns as high as 84%, when we tested its platform, we say that the payout percentage on EUR/USD is just 79%. Most brokers offer at least 83% in payouts.

 

 

Conclusion

 

InTrade Bar is a Russian binary options broker registered in the UK. It promises high returns in a matter of minutes, but the payouts we saw on the platform are not impressive at all and the platform itself does not seem reliable.

 

As usual, our main concern with this broker is that it is not licensed to offer financial services or advise by any governmental agency.  Unfortunately, the trading world is full of scams, most of which are operating illegally, like InTrade Bar.

 

That is why it is extremely important that traders are well-informed and invest solely in reputable and licensed brokerages. There are many such companies offering forex trades, which are more or less similar to binaries. Below, you may find a list of such brokers authorized by one of the most prestigious financial agencies, the Financial Conduct Authority in the UK.

 

 

>> Trade with a broker regulated in the UK <<

 

 

Let’s sum up our recap of InTrade Bar in a few words:

 

Pros Cons
Low min. deposit and low min. bet size Light regulation, if any at all
A lot of payment methods Unproven web platform  
Demo accounts available Withdrawal fees and issues
  Payouts not that high

 

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Traders` reviews for InTrade Bar

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