Indicate FX Review: IndicateFX.com a Dirty Broker

Indicate FX claims it can generate constant high returns for investors. They refer to themselves as trustworthy ECN-STP brokers. Is this company reliable, or is it just another fraudulent platform? Stick with us in this biased review as we analyze how the company operates. 

The broker advertises a maximum spread of 1.5 and 1:100 leverage. Investors can start trading with a minimum amount of $100. Based on what they are offering, many investors might be interested in their services. Unfortunately, the platform provides inadequate information regarding its operation. Whoever is behind the entity was in a hurry to launch the website.

Indicate FX is one anonymous company that is keen on what they share. The information of the founder, account manager, financial analysts, and researchers is missing. Therefore, it is impossible to know whether they are working with professionals. Some of the people behind offshore entities are not qualified enough. They will collect your money directly into their pockets.

We have done the legwork for you and found these legitimate forex trading companies. The brokers have a trading history. Additionally their trading terms and conditions are excellent. They also have superior trading software that allow investors to yield better rewards.

Indicatefx.com Review

Indicate FX claims the main aim is to become the best broker in the industry. The company deals with indices, stocks, forex, metal, cryptocurrency, and CFDs trading. The broker claims it has advanced trading instruments. Their researchers also look for profitable opportunities in the industry on behalf of their customers.

The withdrawal and deposit process is fast and straightforward. Investors can also easily register on the platform. The latest news is featured on the website, which is good. Customers can make sober trading decisions. 

Indicate FX is also offering educational materials in videos to clients. The content is taken from YouTube. The information can help know which traders. However, legitimate companies will also educate their professional clients.

Ironically, the platform claims it uses an advanced reading technology, yet it provides a web trader. You should not allow the broker to manage your funds. The people behind the company are only concerned about their well-being.

It is essential to run a thorough background check on the company you intend to invest with. The safety of your money should always come first. Avoid investing with offshore companies as they exit the market prematurely.

Indicate FX Trading Conditions 

The platform has a MetaTrader4 which belongs to a different company. They also provide a web trader. The company has three trading accounts. The venture indicates it does not charge a commission which is incorrect.

It advertises a spread of 0.3 pips to 0.1 pips. This is a generous offer, and investors will tell us when opening trades. Unfortunately, offshore companies are never generous. They make money by exploiting their customers. The leverage information is missing, which is awkward. Genuine platforms will have all the necessary information on the website.

Withdrawal and Deposit 

The company only accepts funds via credit card despite featuring several other methods. Interested customers must verify the account using an ID. We do not recommend sharing such information with anonymous brokers.

Indicate FX accepts a minimum deposit of $100. Qualify for a withdrawal request. Every single dollar must be traded 1000 times. A legitimate platform will not require such shady terms. The withdrawal process is handled after 5 days. Traders should expect withdrawal fees which unfortunately are not specified.

Customers who cash out 60% of the amount in the account balance should expect a commission of 10%. This is an exploitive venture. It is only after your money. Ensure that you go through the legal documentation to avoid any surprises.

Contact Details and Customer Support 

Indicate FX does not have a specific office address. However, the company claims they are open from 10 a.m. to 5 p.m. on weekdays. Customers can reach the support team via email or live chat. You can also fill in the contact form by leaving your phone number and email address for them to get back to you.

The broker is determined to remain anonymous. You should never share your details with such a shady company. They have an SSL certificate, but the document is not enough to protect you from fraudsters. They can use your information to manipulate you into depositing more cash.

Indicate FX Regulatory Status

Indicate FX claims it has a registration form from the British Virgin Island. The country has a financial regulator despite being an offshore region. Sadly, the broker doesn’t have a registration or a regulatory form. The company also leaves investors with the task of ensuring their local authorities permit them to invest with them.

It should be the other way around, whereby investment schemes acquire licenses from countries it offers their services and products. Scammers use search terms to confuse potential customers. If you ask for a withdrawal yet your government does not license the firm, they may use such information would hold your money.

Indicate FX is a platform that is not offering fund safety to investors. They are not working with the top tier one bank to segregate the account from investors. Offshore platforms will never release your funds once you deposit. 

Companies with licenses have to report their trading results to the financial bodies. They do not engage in price manipulation as it would lead to their license being revoked. Additionally, they may be charged a hefty fine. The agencies supervise the activities of the brokers period any dispute between the company and the customers can be resolved in a court of law.

Indicate FX is not offering negative account balance protection to investors. Clients may end up losing more funds. The trading conditions exposed traders to severe risks. Offshore brokers tend to change their terms and conditions at their sole discretion. They will even infect you with hidden charges, only disclosed when you request a withdrawal.

Stick with legitimate companies to enjoy a conducive trading environment. These are ventures that cannot stand volatility in the market. They also participate in compensation schemes. They are for in case they face bankruptcy, customers can receive compensation.

The Domain Insight 

Indicate FX has been in the industry since September 2020. The broker has privately registered; hence information about the founder is inaccessible. The domain name will expire in the same month in 2022. Unfortunately, investors cannot rely on the platform for long-term services.

It is also a surprise they have been in the industry for over a year, yet they are not reading results. Additionally, the traffic visiting the website is minimal. They are proving that not many people are interested in their services.

Final Verdict 

Indicate FX is an offshore company collecting money from traders in strictly jurisdiction areas. The location of the broker is a big mystery. Getting hold of them is impossible. They also do not expound information on their trading activities. Moreover, the performance of the broker is not available. We do not see any advantage in venturing with them.

Invest with the best forex trading platform in the market. These leading enterprises put the needs of their clients first. They also handle the withdrawal request in time without any delays. Additionally, the venture does not offer fund safety. You can reach out the customer support whenever you face any challenge. 

Are the trading conditions of Indicate FX favorable?

No, the scheme exposes traders to severe risks.

Does Indicate FX have a license?

Unfortunately, this is an illegal scheme

Can Investor earn the advertised returns?

The only thing you can get from Indicate FX is huge losses.