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iMod Trade

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Operating status: SCAM

Website: https://imodtrade.ltd/

Broker violations and abnormal records
  • 2023-06-29 The Swiss FINMA issued a warning against iMod Trade

    On June 30, 2023, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning against iMod Trade, stating that this broker is not entered in its commercial register: https://www.finma.ch/en/finma-public/warning-list/imod-trade--investment-company-ltd/

    On June 30, 2023, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning against iMod Trade, stating that this broker is not entered in its commercial register: https://www.finma.ch/en/finma-public/warning-list/imod-trade--investment-company-ltd/
  • 2023-07-03 BrokersView has reviewed that iMod Trade is an unregulated broker

    iMod Trade claims to be operated by iMod Trade & Investment Company Ltd, under regulation by Swiss Financial Conduct Authority (SFCA). However, the financial watchdog in Switzerland is the Swiss Financial Market Supervisory Authority (FINMA), and there isn't a authority called SFCA. This means the claim is a sham. Additionally, the FINMA has issued a warning against iMod Trade for not existing on its commecial register.

    In essence, iMod Trade is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    iMod Trade claims to be operated by iMod Trade & Investment Company Ltd, under regulation by Swiss Financial Conduct Authority (SFCA). However, the financial watchdog in Switzerland is the Swiss Financial Market Supervisory Authority (FINMA), and there isn't a authority called SFCA. This means the claim is a sham. Additionally, the FINMA has issued a warning against iMod Trade for not existing on its commecial register.In essence, iMod Trade is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

Related Complaints

Q&A

Do they offer negative balance protection?

AHMED SALAMA
Malta
2023-07-20
ANSWER If you are looking to engage with iMod Trade, we strongly suggest you drop that plan due to its status as an unlicensed broker, a trading platform posing significant risks to both funds and personal information.iMod Trade claims to be operated by iMod Trade & Investment Company Ltd under regulation by Swiss Financial Conduct Authority (SFCA). However, it's important to clarify that the financial watchdog responsible for regulating financial activities in Switzerland is the Swiss Financial Market Supervisory Authority (FINMA), and there is no known authority called SFCA. As such, the claim of being regulated by SFCA appears to be false.Furthermore, FINMA has issued a warning against iMod Trade as it does not exist on its commercial register.Given these discrepancies and the warning from FINMA, it is advisable for investors to exercise caution and avoid dealing with iMod Trade. Without regulatory oversight, investors are exposed to fraud or theft if using its services. Therefore, to mitigate such risks, investors are encouraged to opt for a fully regulated broker.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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