Note: ITMARKETS's official site - http://www.ltmarkets.net/en/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is ITMARKETS？
ITMARKETS, claiming to be a financial firm based in China, operates without regulation from any recognized financial regulatory authorities. And the official website of ITMARKETS is currently shut down.
Pros & Cons
Pros:
High Leverage: ITMARKETS offers a high leverage of 1:400, which could potentially lead to large profits for successful trades.
Low Spreads: The platform offers low spreads starting from 0.0 pips (ECN account) which can reduce trading costs.
Low Minimum Deposit: A low minimum deposit of $50 allows for lower barriers to entry for potential investors.
Cons:
Customer Service Unavailable: An unavailable customer service can be a critical disadvantage because it could lead to delayed solutions when problems arise.
Dead Website: The company's website seems to be inaccessible or dysfunctional, which again can lead to difficulties finding necessary information or solving problems.
No Regulation: ITMARKETS lacks regulation by bigger financial authorities, a severe downside as this raises safety and security concerns for investors.
Is ITMARKETS Safe or Scam？
Regulatory Sight: ITMARKETS operates without regulation from any recognized financial regulatory authorities. This lack of oversight means it isn't held accountable to any established financial standards or procedures, notably increasing potential risk for potential clients or investors. There are no regulatory safeguards in place to ensure the company behaves in a manner that protects its clients' interests or investments. It's crucial to approach any engagement with such an entity with a high degree of caution, considering the potential risks involved.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Account Types
ITMARKETS offers two types of accounts for its customers: ECN and STP. An ECN Account is typically best suited for high-volume traders who require more advanced features, and an STP (Straight Through Processing) account tends to be more suitable for less experienced traders or those trading in smaller volumes.
Leverage
ITMARKETS offers a high leverage ratio of 1:400. This means that for every dollar invested, a trader can trade up to $400. High leverage can provide increased potential for profit but also carries a greater risk of losses if the trades do not go as expected. Traders need to understand and manage their risk when using high leverage.
Spread
ITMARKETS offers different types of spreads depending on the account type. For ECN accounts, the spreads start from as low as 0.0 pips, which allows for tight and competitive trading costs. On the other hand, for STP accounts, spreads start from 1.8 pips. The type of account you select will determine the spread you receive on your trades.
Conclusion
ITMARKETS is characterized by the absence of regulation and a non-functional official website, though it has several advantages such as high leverage and low spreads. Besides, it does not provide any contact information. As above, we do not recommend you to trade with this broker.
Frequently Asked Questions (FAQs)
Q: Is ITMARKETS regulated？
A: No, ITMARKETS is not regulated.
Q: How can users reach customer support of ITMARKETS？
A: Unfortunately, there is no contact information for ITMARKETS now. You can hardly get supported if you encounter problems with trading.
Q: What leverage does ITMARKETS provide？
A: ITMARKETS provides customers with a high leverage of 1:400.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
