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IDXsMarkets Review: A Cloned Forex Platform

IDXsMarkets Review: A Cloned Forex Platform

A platform using another company’s registration details, IDXsMarkets is a clone. You should beware of cloned platforms as they rarely allow anyone to withdraw. IDX Markets Services is a risky investment platform, despite its allure. We will provide you with concrete details why this is a risky investment platform. Get to learn all about IDX Markets in the below post. Here’s the detailed IDXSMARKETS REVIEW.

A Closer Look at IDXsMarkets

Artificial intelligence has been a drifting force in online trading. IDXsMarkets is taking full advantage of it by claiming to be the best in class. The platform claims to have bots that analyze your trading behavior and help you make informed trades.

IDXsMarkets Review

These calls to action and features have driven newbies to sign up and deposit large chunks of funds. With the minimum allowed deposit set at $3,000, the platform is definitely hyping its capabilities.

There are some fair conditions on the platform that we must mention. These include maximum leverage of 30:1. The leverage set is in line with industry acceptable leverage. You also get advanced charts with the platform.

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There are false claims all over the website, including being audited by Deloitte. The platform is also posting an image of a false Trustpilot comment. Miriam actually posted the comment, but she was talking about another platform.

Unless you have a keen eye, you are bound to miss the red flags all over the website. And this is why it’s best to do some research before committing to any investment platform. Our IDXs Markets Review will provide insightful details of the platform.

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Accounts IDXsMarkets

IDXsMarkets offers three account types to investors. These include Standard, Plus, and Premier accounts. As indicated above, the minimum allowed deposit is $3,000. It’s way above the industry recommended amount of $250.

Let’s take a closer look at each account;

Standard

With the standard account, the leverage is set at 30:1. Members get advanced charts, negative balance protection, and a range of markets. Unfortunately, you don’t get a dedicated account manager despite depositing $3,000 with the platform.

Plus

The platform claims the Plus account is the most popular account type. Unfortunately, you also have to deposit $3,000 to start trading with the tier. However, there are added advantages that come with this account type. These include custom analytics and a dedicated account manager.

Premier

You must deposit a minimum of $10,000 to start using the Premier account. The account comes with all the above features. Some of the added advantages include exclusive webinars and premier events.

IDXsMarkets Account Details

Account Managers

The platform offers account managers on two accounts. We have to know who these account managers are and their qualifications. The platform remains tight-lipped about them, which makes us suspicious.

There’s a lack of transparency involved which sheds a dark cloud. No one knows anyone involved in the platform, and Team members remain unknown, making it a risky investment platform. We don’t recommend investing with anonymous online forex platforms.

Affiliate programs

You can earn passive income with their affiliate program. There’s up to $500 to earn with their CPA program. You also get a designated affiliate manager with detailed performance results. The platform also claims to offer 10 percent sub-affiliate commissions.

One thing’s for sure, and the platform is not doing too well with their affiliate program. There has been chatter showing the platform fails to honor their pledge. And this makes the platform a risky affiliate platform.

You might also end up being on the wrong side of things. Victims will point the finger at you with a cloned website for directing them to such a platform. It’s best to find out the credibility of a platform before putting your reputation on the line.

Available Trading Instruments

There are six trading instruments available on the platform. These include Commodities, Crypto, ETFs, Forex, indices, and shares. The commodities found include Copper, Gold, oil, platinum, silver, and more.

You can also trade crypto with major currency pairs. These include ADA/USD, BTC/EUR, BTC/USD, and more. Unfortunately, when it comes to forex, the platform makes the mistake of not mentioning available spreads.

Traders can go long or short with major stock indices. In addition, you can speculate the market using indices such as DAX 30, DOW, FTSE 100, S&P 500, and more. There are over 2400 shares to trade with and 75 indicators and drawing tools.

Compliance, License, and Registration IDXsMarkets

There are countless claims on different pages on the website claiming IDX Markets is compliant. However, after a check with CySEC and the Financial Conduct Authority, the truth is out. IDXsMarkets is using another registered platform’s license credentials.

It makes idxsmarkets.com a clone and a risky investment platform. Instead of applying for a valid license, they decide to cut corners. It’s a shame such a platform would go to such lengths to fool investors.

License and Registration Idxsmarkets.com

Capital Com is the Company the platform steals license details from. CySEC and the FCA plan to issue a warning regarding the use of IDXs Markets. It’s best to stay away from the platform as it’s a proven clone.

When investing, it’s best to check with regulators and confirm whether a platform is compliant. You can check with ASIC, BaFIN, CONSOB, CNMV, CySEC, FCA, FINMA, and SEC. These are reputable regulators that protect the interest of both parties.

Contact and support

On their contact page, the platform claims to have offices in three locations. These include Gibraltar, Limassol, and London. In addition, the platform lists phone numbers from Austria, Ireland, Spain, Sweden, and Switzerland.

All these are numbers from virtual service providers. The platform tries to solicit funds from investors in these regions. Unfortunately, writing an email isn’t helpful as the platform takes days to respond to requests.

Deposit and withdrawal

The platform has listed several payment methods at the bottom part of the website. These include bank transfers, MasterCard, Neteller, Skrill, Visa, and more. We see the deposit process but fail to get the withdrawal terms and conditions.

There’s a reason to doubt the platform, especially with withdrawals. We don’t get to see how long the platform takes to process withdrawals. It seems IDX Markets Service plans to keep this hidden.

Platform

Members can only use their web platform, which has stability issues. You won’t get to trade safely with an unstable platform. Even with 75 indicators, the platform is slow at executing trades. 

Safety of funds with IDXsMarkets

IDX Markets Trading Platform

Security of funds is out of the question with a cloned platform. Your funds are at risk of being lost. The platform fails to mention any insurance cover for deposits made by investors. It’s best to stay away from cloned entities.

Why we won’t recommend IDXsMarkets

These are the main reasons why we don’t recommend the platform\

  • A Cloned platform is a financial risk. 
  • An unstable trading platform.
  • Customer support is not direct.
  • Lack of compliance.
  • The security of funds is not guaranteed.

Now you have it and the full expose of why Idxsmarkerts.com is a financial risk.

An ideal investor should take control of with investing. Then, using proven methods, you can earn reasonable returns with proven methods.

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