IB Platform: customer reviews on the company’s performance in 2023
IB Platform positions itself as a modern digital bank, providing favorable conditions for trading CFDs. However, according to reviews, the company has faced negative feedback from customers. Complaints relate to financial extortion, withdrawal issues, and imitation of the trading process. To understand the validity of these accusations, let’s conduct an independent review of the company. We will examine information on regulation, commercial offerings, and reviews from real users.
Broker’s Basic Information
IB Platform claims to already have 150,000 users from different countries and their daily trading volume has exceeded $2.5 billion. However, according to reviews, the company is clearly not a newcomer in the market. A check of the whois web service showed that the website ibplatform.co.uk was registered in February 2023. These facts may raise doubts about the company’s reliability.
According to the company, the brokerage firm was founded by a certain Siva Narayn. However, there is no available information about this person on the internet, which may indicate a fictitious character. Contact details also raise suspicions: a fake address in London, a phone number, and a single real email. Users in reviews claim that communication via email is ineffective, and the company uses it for spam and personal information collection.
Regulation
IB Platform claims to provide its services officially and is registered in the UK. However, there are no documents on the website to confirm this claim. The provided certificate of incorporation number (#08474022) was issued to the company IBANK PLATFORM LTD in April 2013, specializing in information technology, not financial markets. This raises doubts about the authenticity of the information.
Despite the company’s claims of being registered in the UK, IB Platform is not regulated by the British supervisory authority, the Capital Markets Authority. However, CMA has not issued licenses to any of the mentioned organizations, as confirmed by customer reviews who were unable to get help from regulatory authorities.
Commercial Offering Features
Information about the terms of cooperation with IB Platform is limited. There is no description of tariff plans on their platform. It is known that there is a choice of several trading terminals, such as MetaTrader 4 and 5, cTrader, and EvoTrade. It is also known that spreads and commissions depend on the chosen asset, and payment methods offered include bank transfers, cards, electronic payment systems, and cryptocurrencies.
Ex-Clients’ Reviews
Reviews from former clients of IB Platform highlight shortcomings in both trading and payment activities. Charlatans act in their own interests, ready to deprive everyone to the last. If you have important information about IB Platform, do not hesitate to share it so that others can also make informed decisions.
Fraud Scheme Features
Potential clients of IB Platform Limited may not be aware of the fraudulent scheme they agree to by registering on the company’s website. The conditions are presented in a way that investors will not be able to retrieve their funds in any case. Additionally, scammers may demonstrate profitable deals initially to gain trust and increase investment volume. After that, they may carry out a hacking attack, leaving the client’s account empty. Deceived traders have no way to make claims due to the lack of guarantees and the company’s refusal of financial responsibility.
Comprehensive Review Results
An independent review has shown that IB Platform does not deserve trust as a reliable company. It is a typical pseudo-broker that provides services without proper legal support and only creates an illusion of trading. Registration on this platform is not recommended.
My experience with the IB Platform in 2023 was a major disappointment. The overall service quality was poor and lacked efficiency. I felt that the broker had scant regard for customer care, which made me feel unappreciated as a client. Their platform frequently experienced technical glitches leading to trading disruptions. This was not only irritating but also significantly hampered my trading activities and caused unnecessary stress. Customer support was practically non-existent. Every time I tried to reach out, I was either put on hold for a tremendously long waiting time, or my queries were not addressed at all. Furthermore, the commission and fees structure was unclear and seemed unnecessarily high compared to other platforms. It’s safe to say that even basic transparency was missing. Overall, a regrettable experience. Would not recommend.