INFINITY FOREX FUNDS Hit with Multiple Complaints: Refusal to Payout for False Reasons

Over the past few months, BrokersView has received several client complaints against INFINITY FOREX FUNDS. The traders reported INFINITY FOREX FUNDS' refusal or non-response to payouts and noted the platform’s false sincerity and true fraud.

In the first case, a trader who had made a profit of £4,243.97 in a live $200k funded account was denied a withdrawal and his account was closed, with INFINITY FOREX FUNDS explaining that its security department had determined that the trader's trades had been matched with other trades, in violation of the rules. 

When the trader asked for factual evidence, the platform ignored it. When he attempted to seek help in the trading community to recover his account cost, he discovered that another trader had received the same email and was also accused of account sharing and rule violations.

The trader therefore had good reason to believe that INFINITY FOREX FUNDS had defrauded him of his profits.

The latest complaint also stated that INFINITY FOREX FUNDS used the same excuse for denying a client's withdrawal, i.e. the platform's thorough investigation revealed that the client's trading account was linked to the same IP address as a third party, thus breaching their trading policies. As a result, the client's account was suspended.

Another client complained that a payout of 14k requested 6 weeks ago had not been made. Despite a reminder sent to INFINITY FOREX FUNDS, no response has been received.

Unmasking INFINITY FOREX FUNDS

INFINITY FOREX FUNDS identifies itself as an industry-leading proprietary firm offering up to 15% maximum drawdown and unlimited time in its Evaluation Challenges, which include single and dual-phase models. To become a Funded Trader with the platform, a trader must pass the challenge. 

Is INFINITY FOREX FUNDS Regulated?

INFINITY FOREX FUNDS claims to provide forex and other financial derivatives investment services, but there is no regulatory information presented on its website. The platform also does not provide information such as a registered address, office address, and contact details. In reality, INFINITY FOREX FUNDS is not subject to any regulations.

It is worth noting that there are regulatory loopholes behind proprietary trading firms as prop firms deploy their own funds, not those of traders, which allows them to avoid most regulations. 

Risks Associated with INFINITY FOREX FUNDS

INFINITY FOREX FUNDS offers funded accounts for high-frequency trading in varying amounts, from $100k to $1 million, with challenge fees ranging from $800+ to $7,000+. The platform’s Standard Challenge Plans offer traders from $25k to $500k in funding, with fees ranging from $169 to $2,349. INFINITY FOREX FUNDS promises 80%/100% payouts and up to 100% of the profit received if dealing with it.

Seemingly attractive trading conditions and promises of profits are only meant to lure traders. In reality, the platform is likely to artificially manipulate the trading environment and execution prices, thereby exposing clients to increased risk of loss.

Client complaints that INFINITY FOREX FUNDS has closed accounts and refused withdrawals for false reasons have revealed its fraudulent behavior.

Bottomline

Although leading brokers have begun to enter the proprietary trading industry, prop trading as an emerging market lacks industry regulation and is easily exploited by scammers to commit fraud. BrokersView strongly advises investors to stay away from INFINITY FOREX FUNDS, and when looking for other prop trading options, please keep your eyes peeled and look for client reviews and other aspects of the platform to determine its trustworthiness.