InTrade Bar is a brokerage company specializing in binary options trading. She claims that she is registered in Saint Vincent and the Grenadines, as well as all the documentation necessary to work in the territory of this country. The exchange intermediary does not provide enough information about its trading conditions, which raises some suspicions about its legality. Who is behind the site intrade.bar, and what this company actually does – we will tell in detail in the review.
Verification of documents
This broker is owned and operated by intrade.bar LTD. Financial services in St. Vincent and the Grenadines, as you know, are allowed to be provided to anyone who agrees to annually deposit a certain amount of money into the account of the local supervisory authority. In this and similar offshores, the rules for scammers are not written, and therefore they are chosen by false brokers. The fact that InTrade Bar is such is a practically proven fact. At a minimum, this exchange intermediary does not have any documents that could confirm the legality of the activity. So, investing in this project is a very, very bad idea.
Another factor that should not only confuse, but force you to refuse to cooperate with this broker is his interpretation of the prohibition of binary options. He claims that there are no restrictions on trading this type of asset in the territory of his registration, therefore there are no risks for clients. In fact, they are not due to the fact that it is offshore. In Europe, for example, binary options have not been used for 4 years.
Terms of cooperation
The trading conditions of InTrade Bar are hidden as much as possible. The company indicates only the size of the minimum deposit, and even then, its size varies on different pages of the site. So, for example, the main contribution is 10 dollars / 500 rubles:
And in the “Questions and Answers” tab in rubles, it is already 600:
At the same time, the benefits of a mysterious account are a mystery behind seven seals.
Almost the only information available without registration about trading on intrade.bar is the list of commissions:
- withdrawal of funds to a bank card – 80 rubles + 3%;
- withdrawal of funds to a digital wallet – 2.5%;
- withdrawal to Payeer – 5.5%.
You can communicate with representatives of the company only via e-mail. To do this, they are asked to send letters to the following address: email@example.com. The broker assures that his support works quickly and efficiently, and in case of a delay in the response, 5 dollars are deducted from the salary of the corresponding employee.
In order to prevent customers from looking for reviews about InTrade Bar on the forums, the company posted them on its own website:
It is curious that all the responses to the work of the broker are extremely positive, and besides, they are taken from one site. It seems worth resorting to self-checking:
Traders complain en masse about the project, talking about the deplorable experience and huge losses of personal funds. The fact that they are throwing money here is a fact confirmed by dozens of stories from real people.
And what is the result?
Let’s summarize our detailed review: the InTrade Bar broker is not licensed, registered offshore, hides its trading conditions, has a strange-looking website and a bunch of negative reviews about its work. This is more than enough to give up the idea of investing money in it. Be vigilant and in any case do not trust financial intermediaries only at their word!